Final answer:
The bottom of the pyramid (BOP) concept proposes that corporations can alleviate poverty and other social ills while making profits by selling to the world's poorest people.
Step-by-step explanation:
The bottom of the pyramid (BOP) concept proposes that corporations can alleviate poverty and other social ills while making profits by selling to the world's poorest people.
This concept suggests that by targeting the underserved markets of low-income countries, businesses can provide essential products and services to those in need, leading to improvements in their living conditions. At the same time, businesses can generate profits, which can contribute to economic growth and development.
Some examples of companies that have successfully implemented the BOP concept include Grameen Bank in Bangladesh, which provides microfinance services to empower low-income individuals, and Unilever, which offers affordable hygiene products in developing countries.