Understanding Social Business and Wellbeing at the BoP

Abstract

The interest in poverty reduction has received scholarly attention from various academics studying developmental economics, the informal economy and the base of the pyramid (BoP). This chapter intends to engage with the BoP topic by reviewing research areas that are intertwined: the informal economy, the BoP and perhaps most importantly social business and wellbeing. The chapter introduces Algramo, a BoP venture from Chile that aims to reduce food poverty in Latin America. The focus of this chapter is on Algramo's activities in Colombia as a single case study to better understand the impact of three wellbeing aspects on the stakeholders involved. Although Algramo, a work in progress, is primarily focused on food poverty reduction; this chapter reveals that there are potentially much wider implications that are consistent with BoP literature. Wellbeing is important and merits further study when investigating BoP ventures. The chapter concludes with future research directions for BoP scholars and for those who are interested in the wider impacts of engaging with the BoP segment.