Title: The Prosperity Paradox Pdf How Innovation Can Lift Nations Out of Poverty
Author: Clayton M. Christensen
Published Date: 2019-01-15
Page: 352
"Clayton Christensen's latest book The Prosperity Paradox is a must-read. Powerful, persuasive, andwonderfully written, Christensen and his coauthors make a compelling case for the game-changing roleof innovation in some of the world's most desperate economies."- Eric Schmidt, Former Executive Chairman of Google and Alphabet"The Prosperity Paradox by Clayton Christensen, Efosa Ojomo, and Karen Dillon is a timely must-read onthe mindset change that turns poverty into opportunity and enables the creation of sustainableprosperity. As World Bank Treasurer, I saw first-hand how the innovative approaches described in thiscompelling easy to read primer empowers development practitioners and businesses to seek out theseprofitable opportunities."- Arunma Oteh, World Bank Treasurer (30th September 2015 to 30th November 2018)"The Prosperity Paradox has the power to transform our thinking about philanthropy and social good. Aswe continue to grapple with how to lift people out of poverty, Clay Christensen, Efosa Ojomo and KarenDillon provide a new and innovative solution for millions of people around the world. It's a must-readfor anyone with an interest in global affairs who wants to create a truly thriving society."- Arianna Huffington, Founder & CEO, Thrive Global"The rise of any economy, local or global, must be fueled by innovative entrepreneurs willing to buildnew markets. With The Prosperity Paradox, Christensen, Ojomo, and Dillon offer powerful insight andguidance on how we can channel our efforts to create jobs, generate growth, and impact individual livesall over the world."- Steve Case, Chairman & CEO of Revolution and co-founder of AOL"The Prosperity Paradox is a manifesto and a call to action for those who recognize that our survivaldepends on creating opportunity. This book will help innovators be more compassionate. And thecompassionate be more innovative."- Tom Fletcher, CMG, former UK Ambassador and author of The Naked Diplomat CLAYTON M. CHRISTENSEN is the Kim B. Clark Professor at Harvard Business School, the author of 12 books, a five-time recipient of the McKinsey Award for Harvard Business Review's best article, and the cofounder of four companies, including the innovation consulting firm Innosight. He is repeatedly recognized by Thinkers50 as one of the most influential business thinkers in the world, who have noted that "his influence on the business world has been profound." EFOSA OJOMO works side-by-side with Christensen as a senior fellow at Christensen Institute for Disruptive Innovation, where he leads the organization's Global Prosperity Practice. His work has been published in the Harvard Business Review, the Guardian, Quartz,CNBC Africa, and the Emerging Markets Business Review. He graduated with an MBA from Harvard Business School in 2015. KAREN DILLON is the former editor of the Harvard Business Review and coauthor of the New York Times bestseller How Will You Measure Your Life? and Competing Against Luck. A graduate of Cornell University and Northwestern University's Medill School of Journalism, she is also the Editorial Director of Banyan Global Family Business Advisors. She was named by Ashoka as one of the world's most influential and inspiring women.
Clayton M. Christensen, the author of such business classics as The Innovator’s Dilemma and the New York Times bestseller How Will You Measure Your Life, and co-authors Efosa Ojomo and Karen Dillon reveal why so many investments in economic development fail to generate sustainable prosperity, and offers a groundbreaking solution for true and lasting change.
Global poverty is one of the world’s most vexing problems. For decades, we’ve assumed smart, well-intentioned people will eventually be able to change the economic trajectory of poor countries. From education to healthcare, infrastructure to eradicating corruption, too many solutions rely on trial and error. Essentially, the plan is often to identify areas that need help, flood them with resources, and hope to see change over time.
But hope is not an effective strategy.
Clayton M. Christensen and his co-authors reveal a paradox at the heart of our approach to solving poverty. While noble, our current solutions are not producing consistent results, and in some cases, have exacerbated the problem. At least twenty countries that have received billions of dollars’ worth of aid are poorer now.
Applying the rigorous and theory-driven analysis he is known for, Christensen suggests a better way. The right kind of innovation not only builds companies—but also builds countries. The Prosperity Paradox identifies the limits of common economic development models, which tend to be top-down efforts, and offers a new framework for economic growth based on entrepreneurship and market-creating innovation. Christensen, Ojomo, and Dillon use successful examples from America’s own economic development, including Ford, Eastman Kodak, and Singer Sewing Machines, and shows how similar models have worked in other regions such as Japan, South Korea, Nigeria, Rwanda, India, Argentina, and Mexico.
The ideas in this book will help companies desperate for real, long-term growth see actual, sustainable progress where they’ve failed before. But The Prosperity Paradox is more than a business book; it is a call to action for anyone who wants a fresh take for making the world a better and more prosperous place.
Everyone who works in International Dev needs this book in their library ASAP!! This book has been well- thought out, well-reasoned, and is a great work addressing challenges in the developing world as an excellent follow-on to the disruptive innovation work that has defined Christensen's career. Efosa Ojomo and Karen Dillon as excellent co-authors and their insights shine through as well. This book should be required reading for every course on international development at every business school and every public policy school! All International Dev professionals should have this book in their personal and office libraries! Can't wait for the next installment from this dynamic trio!A powerful, well-researched approach to creating prosperity long-term The authors did a GREAT job in tackling a difficult problem, namely how to tackle poverty and create long-term economic and social prosperity. The Prosperity Paradox team's answer is simple, yet powerful: even if it sounds counterintuitive, enduring prosperity for less developed countries will not come from fixing poverty, but rather from investing in innovations that create new markets within these countries.The book is effective in spelling out support for its thesis. Starting with the idea that every nation has the potential for extraordinary growth - what the authors call "nonconsumption" - the book goes on to detail examples where nations (e.g. Singapore, South Korea, Japan) and innovative organizations (e.g. Aravind in India, Celtel throughout much of Africa, etc.) have taken advantage of this potential. What the authors do so well, however, is not just to list out examples of innovative companies and policies, but rather to devise a complete framework based on those successful examples listed that can in turn be replicated in other cases. For instance, the authors argue that infrastructure development should be pulled in alongside to support a market-developing innovation rather than pushed down via institutions in the absence of that innovation, go on to list positive examples, and then analyze exactly why pulling worked better than pushing. In developing their framework for how nations can aim towards prosperity, the authors are doing policymakers a great favor.Another aspect which I appreciated about the Prosperity Paradox was the intuition and empathy with which the researchers approached development. Take the chapter on corruption, for instance. The authors argue that corruption can often times accompany development simply because, in some situations, it can meet people's needs and their desire for progress better than legal means. If policymakers can focus on offering their populations alternatives that are more attractive than corruption (e.g. jobs that pay sufficient money, upward mobility, etc.), then those states would have a chance to tackle corruption long-term. This stands in stark contrast to common belief that simply investing in strict anti-corruption initiatives or electing governments that promise to end corruption will in fact end that corruption.Most importantly, though, the authors profess hope for nations in poverty. As they state in the last chapter, the authors believe that the Prosperity Paradox can become a Prosperity Process that is sustained by a continuous commitment to innovation. The examples in the appendix only provide more hope of a brighter future, as we can witness entrepreneurs all around the globe working with limited resources in different, challenging environments to solve the real problems faced by people daily.On this basis, it's not hard to see why The Prosperity Paradox is currently an Amazon best seller.An Inspiring and Insightful Work I wish we could magically deliver this powerful book to the nightstands of political and business leaders worldwide. The Prosperity Paradox brings the insightful theories of Dr. Clay Christensen to bear on the world’s most challenging issues that impact billions of people. It offers a positive, hopeful view of how focusing on market-creating innovations can transform institutions, cultures and countries.I found the history lessons in American economic development (Singer, Eastman, Ford, Giannini) fascinating, as well as parallel examples in Asia. The authors research is profound and compelling, yet very easy and pleasurable to consume over a few sittings.While this book keeps its focus on global opportunities, I’m inspired by how the authors thinking could be applied locally, to struggling communities within my country. (U.S.) This is hinted at in the Appendix - Disney in Detroit. The notion of fostering pull rather than push is very powerful, as is the focus on non-consumption.Whether you are new to the theories of Disruptive Innovation and Jobs to be Done, or well-acquainted with them, this is an important book that should be at the top of your 2019 reading list.
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