Untapped

Creating Value in Underserved Markets

Michele Kahane (Author) | Jessica Landis (Author)

Publication date: 05/22/2006

Untapped
  • Offers detailed, tested, practical advice to help corporations increase sales, recruit qualified workers, spur innovation, reduce costs, and improve quality by working with overlooked low-income communities
  • Shows how to structure these relationships so that they are beneficial for both the communities and the corporations
  • Features over fifty case studies from leading corporations, including IBM, JPMorgan Chase, and HP

Tapping underserved markets for consumers, employees, or suppliers is not a new idea in business. When Henry Ford founded the Ford Motor Company in 1903, he proclaimed, "I will build a car for the great multitude." Ford understood that the real profits to be had in the auto business were not in selling luxury items to the well-to-do, but in providing essential transportation for ordinary folks. To achieve this goal, he both changed manufacturing processes to lower production costs, and also doubled his workers' wages to enable them to buy cars--creating the phenomenal success of the Model T. Today, businesses have the opportunity to increase profits and improve underserved communities by selling to them, and hiring and purchasing from them. While previous books have touted business opportunities in these underserved markets, none have outlined the specific strategies necessary to turn this business concept into a detailed business model. Until now.

Based on extensive research and featuring fifty case studies from leading corporations--including IBM, JPMorgan Chase, and Dreamworks--Untapped details the practical dos and don'ts every manager needs to know when approaching a new market. It shows how, by engaging consumers, workers, and suppliers, companies can create win-win partnerships with underserved communities. Corporations will discover a new source of increased sales, qualified workers, and marketable innovations as well as new ways to reduce costs and increase quality. The communities will get better products, more meaningful job opportunities, and an increased market for their own goods and services.

Organized around five key success factors the authors identified during their study of pioneering corporations, this innovative book clearly outlines how to establish the kinds of win-win partnerships that are vital to succeeding in these complex but potentially rewarding markets. Combining practical tools, case studies, and careful analysis, Untapped provides concrete guidance for investing in and partnering with underserved communities to create not only significant competitive advantages but also vibrant communities in which to live, work, and do business.

  • Offers detailed, tested, practical advice to help corporations increase sales, recruit qualified workers, spur innovation, reduce costs, and improve quality by working with overlooked low-income communities
  • Shows how to structure these relationships so that they are beneficial for both the communities and the corporations
  • Features over fifty case studies from leading corporations, including IBM, JPMorgan Chase, and HP

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9781576753729

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Overview

  • Offers detailed, tested, practical advice to help corporations increase sales, recruit qualified workers, spur innovation, reduce costs, and improve quality by working with overlooked low-income communities
  • Shows how to structure these relationships so that they are beneficial for both the communities and the corporations
  • Features over fifty case studies from leading corporations, including IBM, JPMorgan Chase, and HP

Tapping underserved markets for consumers, employees, or suppliers is not a new idea in business. When Henry Ford founded the Ford Motor Company in 1903, he proclaimed, "I will build a car for the great multitude." Ford understood that the real profits to be had in the auto business were not in selling luxury items to the well-to-do, but in providing essential transportation for ordinary folks. To achieve this goal, he both changed manufacturing processes to lower production costs, and also doubled his workers' wages to enable them to buy cars--creating the phenomenal success of the Model T. Today, businesses have the opportunity to increase profits and improve underserved communities by selling to them, and hiring and purchasing from them. While previous books have touted business opportunities in these underserved markets, none have outlined the specific strategies necessary to turn this business concept into a detailed business model. Until now.

Based on extensive research and featuring fifty case studies from leading corporations--including IBM, JPMorgan Chase, and Dreamworks--Untapped details the practical dos and don'ts every manager needs to know when approaching a new market. It shows how, by engaging consumers, workers, and suppliers, companies can create win-win partnerships with underserved communities. Corporations will discover a new source of increased sales, qualified workers, and marketable innovations as well as new ways to reduce costs and increase quality. The communities will get better products, more meaningful job opportunities, and an increased market for their own goods and services.

Organized around five key success factors the authors identified during their study of pioneering corporations, this innovative book clearly outlines how to establish the kinds of win-win partnerships that are vital to succeeding in these complex but potentially rewarding markets. Combining practical tools, case studies, and careful analysis, Untapped provides concrete guidance for investing in and partnering with underserved communities to create not only significant competitive advantages but also vibrant communities in which to live, work, and do business.

  • Offers detailed, tested, practical advice to help corporations increase sales, recruit qualified workers, spur innovation, reduce costs, and improve quality by working with overlooked low-income communities
  • Shows how to structure these relationships so that they are beneficial for both the communities and the corporations
  • Features over fifty case studies from leading corporations, including IBM, JPMorgan Chase, and HP

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Endorsements

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"The authors have taken a complex subject and made it clear and understandable. They describe both success strategies and pitfalls, giving practical advice that will help managers create value for company and community alike. I heartily endorse this book."
--Bob Stiller, President and CEO, Green Mountain Coffee Roasters, winner of Forbes, magazine's 2001 Entrepreneur of the Year Award

"... a highly readable and practical analysis of how companies from diverse industries have adapted their business models and practices to succeed in markets previously considered unattractive. This book can help readers reach these markets profitably as well as have the satisfaction of making a difference in underserved communities."
--Pamela Flaherty, Senior Vice President for Global Community Relations, Citigroup, winner of the 2005 Corporate Design Award, Global Green USA

"This book explains complex situations through clear, concise, real world examples that allow the reader to quickly grasp the concepts and see how they can be applied to achieve the desired 'Win-Win' outcome: good products and services at fair prices for communities and a long term profitable result for businesses."
--Ed Charlebois, Vice President, Travelers Personal Lines, St. Paul Travelers, former chairman, National Insurance Task Force, winner of the Community Development Corporation of Long Island's Opportunity Award

"As we engage with communities, there is a constant creative tension in figuring out what we can give, and what we can get. Untapped examines this issue from a corporate perspective--analyzing the challenges and opportunities in creating value by first empowering an underserved community."
--Russell Simmons, Chairman and CEO, Rush Communications, winner of the NAACP Lifetime Achievement Award

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