Group Assignment for the RMIT course BUSM4054 Global Entrepreneurship
In 2014 emerging markets accounted for 36% of the global GDP, while 2025 emerging market forecasts indicate a US$30 trillion opportunity (Mahmood, 2014). Yet most MNCs still mainly target developed markets with premium products, neglecting those consumers at the base-of-the-pyramid (BoP). As recently as 2014, MNC earnings from emerging markets were estimated to be only 17% of total revenue (Mahmood, 2014). Consequently, there is great opportunity for established and startup firms to redesign existing products or services, or design brand new products or services, that meet the specific needs of BOP consumers. And that's where your challenge lies…
Team brief - in short
This is a group project where each team must identify an RCI opportunity* that they can turn into a profitable and sustainable business. The initiative must target BOP/resource-constrained consumers in either an emerging market or in an industrialised nation of your choice. Depending on the nature of the opportunity, you will either plan for it in the context of an entrepreneurial startup or as a new venture project within an established business. Your resulting management report must justify every aspect of your chosen project, of which details are provided in the next section (password access).
* Ideally, with RCI, rather than relying on educated guesses as to what the BoP customer needs in emerging markets are, one should start with observing their behaviour in their natural environment and then consider how products can be made as relevant as possible, utilising the principle of co-creation. For this assignment we acknowledge and will take into account that student teams, because of their physical location in Australia, may not be in a position to adhere to these RCI principles during the concept-definition phase of this project.