Development Value Proposition
We coined the phrase "Development Value Proposition" in Chapter 9 of Make Poverty Business by analogy with the familiar business concept "customer value proposition". We argued that companies operating in developing countries need to develop, differentiate, defend and communicate the development contribution they make to their host country in just the same way as they manage the value they deliver to customers.
Peter Wilson's company, Libra Advisory Group, works with multinational companies to help them establish and communicate their development value proposition.
We described the concept as follows:
Establishing your Development Value Proposition
Customer needs: What are the priorities for economic development valued by your host Government, development agencies and non-governmental agencies? (Clue – your local World Bank office should be able to provide information on this and many countries now produce a Poverty Reduction Strategic Plan)
Understanding how your product meets those needs: How does your presence in the country contribute to these economic development priorities? Can you put figures on the most important elements? Do your target audiences understand and appreciate your contribution?
Defending your advantage: What unique assets, competencies and networks allow you to deliver these benefits? How can they be defended and developed?
Developing the value proposition: Can you use these competencies to deliver further benefits?
Communicating the value proposition: Do your employees, advisers and contacts understand the value proposition? Is it clearly communicated in your marketing and public affairs activities? How can you dramatise and illustrate it?
For more details on development value propositions and to purchase a copy of the book go to Make Poverty Business.
For advice on how to develop your company's Development Value Proposition, go to Peter Wilson's company website - Libra Advisory Group.
