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Capitalism at the Crossroads: The Unlimited Business Opportunities in Solving the World’s Most Difficult Problems by Stuart L. Hart - Johnson Graduate School of Management Cornell University

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8. Developing Native Capability

If MNCs are to thrive in the twenty-first century, they must broaden their base and share their gains more widely, they must play a central role in narrowing the gap between rich and poor, and they must incubate and commercialize the disruptive technologies of tomorrow that leapfrog us toward a more sustainable world. These objectives cannot be achieved if companies produce only so-called “global products” for consumption primarily by rich consumers. They must come to understand and nurture local markets and cultures, leverage local solutions, and generate wealth at the lowest points on the pyramid. Producing in rather than extracting wealth from these communities will be the guiding principle. The objective is ...

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