Creating a formal market ecosystem for base of the pyramid markets - strategic choices for social embeddedness

Abstract

This article is aimed at understanding how the social enterprises (SEs) are creating an ecosystem of social embeddedness at the base of the pyramid (BoP). The qualitative multi-case-based research methodology is applied for data collection and analysis. The data collection involves the field interviews and focus group interactions with the internal and external stakeholders of the SEs offering healthcare and energy offerings to the BoP segment in India. The results suggest that developing a capability in social embeddedness enhances the socio-economic impact on the BoP segment and sustainability of the SEs in the BoP markets. To build this capability, the key focus areas involve local capacity building, non-traditional partnerships and value co-creation ecosystem. The corresponding strategic choices involve actions and orientation towards the local skill building; awareness building; brick and mortar setup; local engagement; multi-skilling; creative partnerships; community engagement; and ongoing field-based experimentations.