Podcasts about efosa ojomo

There have been many books on development written and cited by academics from around the world. We will try to focus on those listed within the syllabi of respected universities. It is important for the reader to understand that StimPack is new in its mission to lead development efforts in Haiti. This is an audacious mission considering the many brilliant minds that have preceded us. However, our approach is far more humble than it might initially appear. We intend to stand on the shoulders of our experienced predecessors, leveraging their experimentation and resulting wisdom to move this work forward. StimPack also realizes the value of development work done outside of Haiti that may have significant value within it. This article will work to apply to Haiti the ideas of the late Clayton M. Christensen of Harvard Business School and his co-authors Efosa Ojomo and Karen Dillon as taught in their book The Prosperity Paradox. We hope you will find this a valuable exercise. This will not be a summary or thorough book report. We have instead extracted a few points we find relevant to Haiti.

หนังสือ The Prosperity Paradox: How Innovation Can Lift Nations Out of Poverty ของ Clayton M. Christensen, Efosa Ojomo and Karen Dillon - เมื่อนักการจัดการระดับโลกได้มารังสรรค์การเรียนรู้เรื่องของนวัตกรรมจะสามารถยกระดับชีวิตขึ้นมาได้หรือไม่ - ตลาดรับรู้ว่าการลงทุนเป็นส่วนหนึ่งที่สำคัญต่อภาคเศรษฐกิจ แต่ในความเป็นจริงแล้วเราจะลงทุนไม่ได้ถ้าไม่มีสินค้าหรือบริการ - ทวีปแอฟริกาหลายประเทศกำลังประสบปัญหาเรื่องการคิดค้นสิ่งใหม่ ๆ แต่แน่นอนว่าการเห็นประเทศเกิดใหม่ก็ย่อมมีนิมิตหมายที่ดีเช่นกัน - ถ้าหากว่าเราต้องการให้ทุกประเทศมีความมั่งคั่ง สิ่งนั้นย่อมเกิดความโกลาหลต่อระบบการเงิน เพราะระบบทุนนิยมออกแบบมาเพื่อมีประเทศที่ร่ำรวยและยากจนเสมอ - ทั้งนี้ การจะจัดระบบใหม่ให้ประเทศที่ยากจนกลับมาร่ำรวยได้ อาจจะมีหนทางเพียงทางเดียวนั่นคือการคิดริเริ่มในการสร้างสิ่งที่มาแก้ปัญหาให้กับคนทั่วโลก ซึ่งสิ่งนี้เป็นโจทย์ที่ยากตลอดมา

In this exciting episode of PRCA Fuse, Farzana Baduel chats with Ayeni Adekunle, the visionary founder and CEO of BHM, a Nigerian consultancy with headquarters in the UK. Ayeni has been at the forefront of reshaping the global PR landscape, utilising platforms like World PR Day, Africa PR Report, NECLive and Plaqad to bring Africa into the global discourse. With offices in Lagos, London, Edinburgh, Nairobi, and Accra, BHM is on a mission to become the first global communications services firm from Africa.  In this episode, Farzana and Ayeni explore various facets of the PR industry and Ayeni's journey, including: The pivotal moment that led Ayeni from journalism to PR. Challenges and innovations within the PR industry. Building a global PR company with a strong African identity. The Africa PR and Communications report. Bridging the knowledge gap between Africa, Asia and the rest of the world. The Global Day of Influence and World PR Day. Raising the reputation of the global PR industry Connect with Ayeni Adekunle: Twitter& Instagram: @ayenithegreat BHM -  https://wwwbhmng.uk  |  https://wwwbhmng.com  Follow Dan & Farzana on Social media: Twitter& Instagram: @Dangoldmedia | @FarzanaBaduel Episode book recommendations:   Twelve Causes of Dishonesty - Henry Ward Beecher  Propaganda - Edward Bernays  The Prosperity Paradox: How Innovation Can Lift Nations Out of Poverty - Clayton M Christensen, Efosa Ojomo, and  Karen Dillon  Post Corona: From Crisis to Opportunity - Scott Galloway Subscribed: Why the Subscription Model Will Be Your Company's Future - and What to Do About It - Tien Tzuo &  Gabe Weisert Disclaimer: Views expressed by the guest are their own and not necessarily endorsed by the FUSE podcast. --- Send in a voice message: https://podcasters.spotify.com/pod/show/fuse-podcast/message

Last June, Efosa Ojomo and Sandy Sanchez were on the podcast to discuss the process of market creation - discovery, distribution, and democratization - and specifically, as it applied to the creation of a market for solar energy in Nigeria. In this new episode, they return to the recording studio to share with us specific examples of four companies that are getting it right. SunFi, co-founded by HBS alumnus Tomiwa Igun, highlights successful employment of an emergent rather than deliberate strategy; Steamaco illustrates benefits drawn from a clear understanding of customers' Jobs To Be Done; Husk Power Systems exemplifies the strength of pull (as opposed to push) strategies in emerging markets; and Auxano is a company now firmly in the midst of the important distribution phase of the market creation process. There are lessons to be learned from all four of these examples, businesses that to-date have been successful in addressing barriers to market creation in the energy sector in Nigeria. In this conversation, Efosa and Sandy reflect on these learnings. Of further note is that, for listeners wanting to learn more, the duo have also recently published a paper entitled, Accelerating The Adoption of Solar Energy in Nigeria: A Market-Creation Strategy. As Efosa says, “People don't want solar. People want progress.” With this in mind, real advancements can be made towards reaching the last stage of the market creation process - democratization, and in this case democratizing access to electricity in Nigeria and beyond.  

Almost every entrepreneur dreams of becoming a unicorn — a startup that reaches a $1 billion valuation. But to date in Africa there are only seven companies that have achieved that distinction. Andela, led by co-founder and CEO Jeremy Johnson, is one of them. Hear how and why Andela became such a success story and gain insights on disruptive innovation from Efosa Ojomo, director of Global Prosperity at the Christensen Institute and co-author of The Prosperity Paradox.Andela is a Nigerian company that began with a tightly focused mission to train software engineers to compete on a world stage. “The original problem statement,” Johnson explains, “is that brilliance is evenly distributed. Opportunity isn't. How do we move towards a world where those things are a little bit more uniform, where someone's potential in life has less to do with who their parents were and where they were born, and more to do with the impact they're able to create?” Andela quickly realized that the most valuable part of the business wasn't training the talent, but making it accessible. So, to connect all that brilliance with opportunities, Andela created a global talent marketplace to help companies simplify the process of hiring and working with talent from all over the world. This “market-making innovation” — creating an ecosystem for “non-consumers” — is what Efosa Ojoma believes made all the difference to Andela's success. In the case of Andela, he explains, “The brilliant talents in Nigeria are non-consumers of opportunity. They just happen to be born in a country that could not leverage what they would give to the world. Andela is creating an infrastructure that connects them to that opportunity so that they can add value to the world.” And they're doing the same for companies that face barriers to recruiting the best talent. According to Ojoma, “Unlocking this double-sided non-consumption unlocks so much value and the world becomes a better place as a result.”While many companies suffered due to the pandemic, it actually helped Andela by reinforcing the power of remote work. In just four years the company expanded from seven to 120 countries, and its leaders realized that the tricky part of global talent was the infrastructure, or lack thereof. So, they spent time and energy building a supply chain to make it easy for people to work together between countries, covering issues from payroll to compliance to taxes. “The primary driver of the business was companies coming to us and saying, ‘We want to be able to work with great talent. Can you help us? And can you make that easy? And because you trained them, we would like to work with you,'” Johnson explains.Listen to Johnson and Ojoma discuss Andela's meteoric growth, regulatory hurdles, the role of data, and how looking at your product through the lens of market creation can unlock a business's true potential.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Nigeria is home to the largest energy deficit in the world. What can be done to address the striking level of energy poverty in the country? Clayton Christensen used to say that good theory helps us to explain the world but that great theory helps us to transform it. With this in mind, co-author with Clay of The Prosperity Paradox, Efosa Ojomo, joins host Sandy Sanchez to consider the application of the frameworks to the energy sector in Nigeria, using them as lenses through which to assess the adoption – or lack thereof – of solar energy in the country. Solutions to many of the current energy sector challenges in Nigeria lie in the process of market creation, which Efosa outlines as discovery, distribution, and democratization. Currently, too many attempt to jump from the discovery phase directly to democratization, wanting to push modular energy solutions out to the population but without first understanding the process by which markets are created or the context in which the solutions may be absorbed. With a better grasp of Nigerians' Jobs To Be Done (e.g. "How is this energy going to power your life?"), those in the energy sector can establish value-add solutions and business models that will work for the adoption of solar energy, such that people will want to pull the solutions into their lives, creating new energy markets along the way. The distribution phase is crucial to this process, as it is in this phase where infrastructure is built, where trust is established, where discoveries are made profitable, and where democratization becomes possible. In other words, theory can help us to better understand how to get crucial solar energy infrastructure to as many people as possible, building a stable bridge between discovery and democratization. Listen to learn more about the process and potential of market creating innovations and, in this instance, how it's applied to the acceleration of solar energy adoption in Nigeria.

In this episode of Trends from the Trenches, Stan Gloss speaks with Efosa Ojomo, director of the Global Prosperity Group at the Clayton Christensen Institute (CCI) and coauthor of The Prosperity Paradox: How Innovation Can Lift Nations Out of Poverty, about the parallels between consumption economy and life sciences research. Ojomo discusses how relying on data metrics does not necessarily provide full insight on what a consumer audience needs, why it is important to also look at non-consumers, how to overcome barriers of consumption—and how all of these questions can apply to research. He also delves into his experiences working with his late mentor Clayton Christensen, whose theories, models, and frameworks have pivoted the CCI's mission of understanding the complex world of global development and, ultimately, achieving prosperity. Links from this episode:  Bio-IT World BioTeam  Trends from the Trenches boiler: Bio-IT World's Trends from the Trenches podcast delivers your insider's look at the science, technology, and executive trends driving the life sciences through conversations with industry leaders. BioTeam co-founder Stan Gloss brings years of industry experience in science, data, and technology to conversations exploring what is driving data and discovery, and what's coming next.

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Overview: Today, we're going to talk about Yoco, the South African Point-Of-Sale FinTech company. We'll explore the story across the following areas: South African payments context Yoco's early history Yoco's Product & monetization strategy Yoco's Competitive positioning & potential exit options Overall outlook. This episode was recorded on Apr 9, 2023 Companies discussed: Yoco, Square, Flutterwave, PayFast, PayThru, PayU, DPO, Flutterwave, Paystack, Stripe, Ikhokha, MTN, Safaricom, Zapper, Visa, Interswitch, Nedbank, ABSA, FNB (First National Bank South Africa) & Wave Business concepts discussed: Merchants solutions, Points-of-Sale devices, SME Lending & hardware and software bundling Conversation highlights: (01:30) - Yoco context (07:30) - Africa / SA payments context (23:11) - Yoco Founding Story and Founders' background (40:45) - Fundraising and Growth (51:52) - Partnerships,  Acquisitions, and Team (59:20) - Key metrics (1:02:16) - Product Strategy (1:19:42) - Monetization strategy (1:30:50) - Competition (1:36:42) - Options for exit (1:49:06) - Bankole's overall thoughts and outlook (1:57:01) - Olumide's overall thoughts and outlook (2:07:14) - Recommendations and small wins Olumide's recommendations & small wins: Recommendation: I released my book called Firedom = FIRE (Financial Independence, Retire Early) + Freedom = personal finance and financial independence book. It was an incredible journey to get it out and I'm very excited about it. I think many people will really enjoy it. You can buy the audiobook, ebook or print here. Here's an excerpt from the full blog post announcement: Book Creation context: Around the end of 2022, I made a new friend when I met Samon, we instantly got along because we shared a lot in common: African immigrants who moved to America/Europe, worked in Management consulting and are in love with personal finance. We decided to embark on a project together and write a financial independence book we are calling Firedom!   What is Firedom book about? Living life intentionally + Personal finance + Financial independence + Personal Development + Freedom + Exploring your own unique path in life + Life adventures of two African immigrants Who is it for? Underdogs, outsiders, expats, nomads, minorities, immigrants interested in : Living their lives more intentionally to achieve Financial Independence Learning about people's life stories (turning points, challenges, flameouts, etc) Changing their mindset and psychological relationship with wealth Recommendation: Owl City - Unbelievable. I love the song so much because it reminds me of adventures and experiences growing up  Recommendation: Good Hair - Documentary by Chris Rock. Good shit. Reduced my ignorance level about African women hair Small win: Virgin Voyages cruise - First ever cruise. Very cool. Small win: No scrubs Karaoke on cruise. Too much fun. It was an experience. Bankole's recommendations & small wins: Recommendation: Economist Article on Nitrogen & Asake - 2:30 Small win: Moderating a panel at the Harvard Business School Africa Business Conference Other content: The Prosperity Paradox by Efosa Ojomo, Karen Dillon, Clay Christensen, Adyen pricing page & PayFast pricing page Listeners: We'd love to hear from you. Email info@afrobility.com with feedback! Founders & Operators: We'd love to hear about what you're working on, email us at info@afrobility.com Investors: It would be great to link up with you. Contact us at info@afrobility.com Join our substack mailing list where discuss more & find all episodes on Afrobility.com

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, and infrastructure to eradicating corruption, too many solutions rely on trial and error. Today's guest reveals 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. 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. It offers a new framework for economic growth based on entrepreneurship and market-creating innovation. It's a pleasure to welcome the co-author of The Prosperity Paradox: How Innovation Can Lift Nations Out of Poverty, Efosa Ojomo. Find Efosa here: http://efosaojomo.com

Quote - “This frail body will house the greatest spirit humanity willever know.”The Afropolitan Podcast spotlights Afropolitans who aren't afraid tostep into the unknown and walk in purpose. With this podcast we hopeto empower Africans in the Diaspora to harness their full potentialand contribute to the development of a bold and progressive blackcommunity.Our guests will share their working formulas, the hard facts aboutleaving familiar terrain, embracing the unknown, and staying relevantafterwards.This episode features Tunde Onakoya, Founder of Chess In Slums Africa;a non-profit organisation that utilises the game of chess to educateand empower underprivileged children to achieve far more than theircircumstances.Tunde holds a National Diploma in Computer Science from Yaba Collegeof Technology and created Chess in Slums Africa to use chess as a toolto educate and propel the destiny of children out of poverty.He is passionate about equaling the playing field and has a goal toeducate 1 million children in slum communities in 5 years.Listen and enjoy as Tunde talks to us about his journey with Chess InSlums Africa and redressing the imbalance in society.Tunde's Reading ListPhilosophy for Life and Other Dangerous Situations: Ancient Philosophyfor Modern Problems by Jules Evanshttps://amzn.to/3DMbVLFThe Prosperity Paradox: How Innovation Can Lift Nations Out of Povertyby Clayton M. Christensen, Efosa Ojomo, Karen Dillonhttps://amzn.to/3DNoFBOSelf-Discipline through Ikigai and Kaizen (Longevity and Happiness atHand) by Mark Morimotohttps://amzn.to/3lnLVQbManifesto for a Moral Revolution Paperback – May 4, 2021 by Jacqueline Novogratzhttps://amzn.to/3RGYd2iShow Notes1:29 Background and discovery of chess4:31 Creation and mission of Chess In Slums Africa9:07 Impact on children/slums11:28 Ferdinand with cerebral palsy winning the chess tournament in Makoko14:17 Partnership with chess.com16:10 Finding purpose with Chess In Slums Africa19:42 Fulfilling potential linked to mission of Chess In Slums Africa22:43 Reading list25:24 Future plans and how to get involved/support27:28 Title of the book about your life28:13 What does being Afropolitan mean to youThe Afropolitan Podcast is hosted by Eche Emole, co-founder of Afropolitan.Listen and subscribe to the show on Apple Podcasts, Spotify, Jamit, orwherever you get your podcasts.Want to learn more about Afropolitan?Twitter - https://twitter.com/afropolitanWebsite - https://www.afropolitan.io/

Efosa Ojomo is the Director of the Global Prosperity research group at the Clayton Christensen Institute for Disruptive Innovation, an innovation-focused think tank based in Boston. Efosa is also on the faculty of Northwestern University's Kellogg School of Management where he teaches the course, Entrepreneurship and Market Creation in Emerging Markets. Efosa was selected as one of 30 thinkers in the 2020 Thinkers50 Radar list. He researches and writes about how innovation can transform organizations and create inclusive prosperity for many. In January, 2019, alongside the late Harvard Business School professor, Clayton Christensen, he published the book, The Prosperity Paradox: How Innovation can Lift Nations Out of Poverty. Christensen was the world's foremost thinker on Disruptive Innovation and was a mentor to Efosa Ojomo. Over the past several years, his work has been published and covered by the Wall Street Journal, Harvard Business Review, MIT Sloan Management Review, The Guardian, Quartz, Forbes, Fortune, The World Bank, NPR, and several other media outlets. He speaks and consults often on how organizations can develop a culture that fosters market-creating innovations, and has presented his work at TED, the Aspen Ideas Festival, the World Bank, Harvard, Yale, Oxford, and at several other conferences and institutions. His TED Talk on Innovation and Corruption has garnered over 2 million views. Efosa graduated from Vanderbilt University with a degree in computer engineering and received his MBA from Harvard Business School. In this podcast, he shares:Why the big opportunity of metaverse is not on the all the B2C marketing side that we tend to talk about The number one future trend that keeps her up at nightWhat competencies will be necessary in the future of AI_________________________________________________________________________________________Episode Timeline:00:00—Introducing Efosa + The topic of today's episode2:27—If you really know me, you know that...3:08—What is your definition of strategy?5:55—How did working with Clayton Christensen impact your career?7:33—Can you talk about disruption theory in the context of prosperity, as you developed it?10:31—Could you describe the three types of innovation?15:55—What are the reasons—that we can address—to unlock non-consumption?19:38—How can people connect with you and keep learning from you?__________________________________________________________________________________________Additional Resources: Personal Page: http://efosaojomo.com/Linkedin: https://www.linkedin.com/in/efosa-ojomo-95b74710Twitter: https://twitter.com/EfosaOjomo

Efosa Ojomo is the Director of the Global Prosperity research group at the Clayton Christensen Institute for Disruptive Innovation, an innovation-focused think tank based in Boston. Efosa is also on the faculty of Northwestern University's Kellogg School of Management where he teaches the course, Entrepreneurship and Market Creation in Emerging Markets. Efosa was selected as one of 30 thinkers in the 2020 Thinkers50 Radar list. He researches and writes about how innovation can transform organizations and create inclusive prosperity for many. In January, 2019, alongside the late Harvard Business School professor, Clayton Christensen, he published the book, The Prosperity Paradox: How Innovation can Lift Nations Out of Poverty. Christensen was the world's foremost thinker on Disruptive Innovation and was a mentor to Efosa Ojomo. Over the past several years, his work has been published and covered by the Wall Street Journal, Harvard Business Review, MIT Sloan Management Review, The Guardian, Quartz, Forbes, Fortune, The World Bank, NPR, and several other media outlets. He speaks and consults often on how organizations can develop a culture that fosters market-creating innovations, and has presented his work at TED, the Aspen Ideas Festival, the World Bank, Harvard, Yale, Oxford, and at several other conferences and institutions. His TED Talk on Innovation and Corruption has garnered over 2 million views. Efosa graduated from Vanderbilt University with a degree in computer engineering and received his MBA from Harvard Business School. In this podcast, he shares:Why the big opportunity of metaverse is not on the all the B2C marketing side that we tend to talk about The number one future trend that keeps her up at nightWhat competencies will be necessary in the future of AI_________________________________________________________________________________________Episode Timeline:00:00—Introducing Efosa + The topic of today's episode2:27—If you really know me, you know that...3:08—What is your definition of strategy?5:55—How did working with Clayton Christensen impact your career?7:33—Can you talk about disruption theory in the context of prosperity, as you developed it?10:31—Could you describe the three types of innovation?15:55—What are the reasons—that we can address—to unlock non-consumption?19:38—How can people connect with you and keep learning from you?__________________________________________________________________________________________Additional Resources: Personal Page: http://efosaojomo.com/Linkedin: https://www.linkedin.com/in/efosa-ojomo-95b74710Twitter: https://twitter.com/EfosaOjomo

#VN 165 🎙 19 noiembrie 2022 cu Dragoș Pătraru Capitalismul e cel mai prost sistem economic. Însă asta doar dacă le excluzi pe celelalte. În episodul 165 din Vocea Nației: Dacă suntem niște oameni egoiști, interesați doar pe maximizarea propriilor beneficii, așa cum ne descriu modelele economice, de ce plătim ceea ce consumăm într-un restaurant? 1.000 de directori executivi, care încasează de sute de ori mai mult decât angajații lor, trec prin experimentul de gândire propus de John Rawls. Capitalismul e ca o mașină în care ai nevoie de centuri de siguranță. Cum arată o astfel de centură? Principiile propuse de economistul Ha-Joon Chang pentru construirea unui sistem economic mai bun. Audiție plăcută! -------------------------------------- Recomandări: 23 de lucruri care nu ți se spune despre capitalism – Ha-Joon Chang Economie utilă pentru vremuri dificile – Abhijit Banerjee și Esther Duflo Doughnut Economics – Kate Raworth Mission Economy – Mariana Mazzucato The Entrepreneurial State – Mariana Mazzucato Paradoxul Prosperității - Clayton Christensen, Efosa Ojomo și Karen Dillon

Efosa Ojomo believes that market-creation plays a key role in economic development, but he didn't come to that conclusion in a usual way. He ran a nonprofit for 10 years and realized the limitations of his model. After that, he closed the doors of the organization and switched his focus to researching and writing about global prosperity with the Clayten Christensen Institute. He joins the show to talk about the idea of a “Prosperity Paradox” and to give us a vision for how innovation helps lift nations out of poverty.

Development is one of the major challenges of our time. Unfortunately, it's often approached in a way that does more harm than good. Efosa Ojomo has a better solution, and he's here today to share it. Efosa is the leader of the Global Prosperity Research Group at the Clayton Christensen Institute for Disruptive Innovation, the co-author of The Prosperity Paradox, and the author of the upcoming book, The Prosperity Process. In this episode, Efosa explains how his first foray in the development space (building wells in Nigeria) catalyzed a journey of discovery which led him to realize that, in order to truly change the world, we need to implement pull strategies instead of push strategies and focus on market creating innovations. He shares some examples of what these innovations look like and we discuss what it takes to be a market creating innovator, how regulation impacts innovation, a new way to think about corruption, and more! Make sure to tune in today.   Key Points From This Episode:   •  The lesson Efosa learned through his first foray in the development world. •  Definitions of the three types of innovation that Efosa and his co-authors explain in depth in their book, The Prosperity Paradox. •  Efosa shares the story of Mo Ibrhaim to highlight the power of market creating innovations. •  Push versus pull development strategies and the problem with the former. •  The story of Indomie Noodles as an example of the huge amount of change that can be made through the implementation of a pull strategy. •  How a proliferation of government agencies negatively impacts a country's entrepreneurial ecosystem. •  The type of person who is best suited to be a leader in the market creating innovation space. •  Aid for developing countries: how the approach needs to change. •  Efosa explains why good laws are not enough to create thriving communities. •  Key factors that resulted in the rise and fall of Venice. •  How Efosa believes we should be tackling the issue of corruption. •  A tribute to Clayton Christenson. •  The Prosperity Process; Efosa's future book.     Links Mentioned in Today's Episode:   http://www.apple.com (Efosa Ojomo) https://twitter.com/EfosaOjomo (Efosa Ojomo on Twitter) https://www.christenseninstitute.org/global-prosperity/ (Global Prosperity Research Group at the Clayton Christensen Institute for Disruptive Innovation) https://www.amazon.com/Prosperity-Paradox-Innovation-Nations-Poverty/dp/0062851829 (The Prosperity Paradox) https://www.britannica.com/biography/Mo-Ibrahim (Mo Ibrahim) https://www.hurstpublishers.com/book/gambling-on-development/ (Gambling on Development) https://www.linkedin.com/in/yuen-yuen-ang-35a93920/ (Yuen Yuen Ang) https://www.amazon.com/Why-Nations-Fail-Origins-Prosperity/dp/0307719227 (Why Nations Fail) https://www.amazon.com/Innovators-Dilemma-Revolutionary-Change-Business/dp/0062060244 (The Innovator's Dilemma) https://www.amazon.com/Innovators-Solution-Creating-Sustaining-Successful/dp/1422196577 (The Innovator's Solution) https://www.chartercitiesinstitute.org/ (Charter Cities Institute) https://www.facebook.com/Charter-Cities-Institute-424204888015721/ (Charter Cities Institute on Facebook) https://twitter.com/CCIdotCity (Charter Cities Institute on Twitter)

Talent is evenly distributed, but opportunity is not. This big idea is driving innovative technology entrepreneurs to create new markets in impoverished areas where opportunity did not previously exist. Clayton Christensen, and his coauthors Karen Dillon and Efosa Ojomo, lay this out in their book "The Prosperity Paradox" and highlight the role of innovators in developing prosperity in emerging economies. The best of altruistic intentions — and billions of dollars in aid — haven't lifted many countries out of poverty. Instead, Christensen advocates market-creating innovation as the key. One such innovative entrepreneur is Wendy Gonzalez, CEO of Sama, who leads a company founded on this powerful idea. In this episode, originally recorded during the October 2021 VMworld event, Wendy shares how Sama, an AI training data company, has helped over 56,000 people lift themselves out of poverty while creating tremendous value for their clients. In this conversation, she explains how great talent is everywhere, how diversity creates a greater product, and what a difference it would make if every company had a strong social mission. Wendy Gonzalez on LinkedIn: https://www.linkedin.com/in/wendy-gonzalez-a319788/Nicola Acutt on LinkedIn: https://www.linkedin.com/in/nicolaacutt/CIO Exchange on Twitter: https://twitter.com/vmwcioexchangeYadin Porter de León on Twitter: https://twitter.com/porterdeleon  [Subscribe to the Podcast] On Apple Podcast: https://podcasts.apple.com/us/podcast/cio-exchange-podcast/id1498290907 For more podcasts, video and in-depth research go to https://www.vmware.com/cio

#VN 129 🎙 13 decembrie 2021 cu Dragoș Pătraru Cum apare prosperitatea? Prin inovație antreprenorială sau prin dezvoltare convențională? Dragoș vorbește azi despre două cărți cu perspective diferite. Audiție plăcută! -------------------------------- Recomandări/Contrarecomandări: 📖 Paradoxul Prosperității - Clayton Christensen, Efosa Ojomo și Karen Dillon 📖📖 Economie utilă pentru vremuri dificile - Esther Duflo și Abhijit Banerjee 📖📖📖 Poor Economics - Esther Duflo și Abhijit Banerjee 📖📖📖 📖 Articolele „Plecat” din seria Teleleu - Elena Stancu și Cosmin Bumbuț @StareaNatiei - Soundcloud, iTunes, Spotify ▪️ Podcast #VN video @StareaNatiei - YouTube, Twitch, Facebook _ #VoceaNatiei #Podcast #StareaNatiei #DragosPatraru

Understanding why poor countries have remained poor despite the trillions of dollars spent on development over the past several decades requires asking different questions. Hear more in MN's chat with Efosa Ojomo of Christensen Institute. Join the conversation on: Twitter - @BrenthurstF / Facebook - @BrenthurstFoundation / Instagram - @brenthurstfoundation

Overview: Today, we're going to talk about Andela - the software developer recruitment platform. We'll explore the Andela story across 6 areas: Labor markets in Africa context Andela's founding and early history Fundraising & Growth Product & monetization strategy Competitive positioning & potential exit options Overall outlook. This episode was co-hosted with Iyinoluwa "E" Aboyeji & recorded on Nov 7, 2021 Companies discussed: Andela, Spark Capital, CRE Ventures, SoftBank Vision Fund, Gebeya, Semicolon, Decagon, CRE Ventures, Spark Labs, Chan Zuckerberg Initiative & Generation Investment Management Business concepts discussed: Talent recruitment, Remote working, Outsourcing, Education Technology, Youth unemployment & Economic Development Conversation highlights: (01:00) - Andela context & Background (01:30) - Context on Africa's labor markets (21:20) - Bookneto, Fora & 2U (53:50) - Andela cofounders & early founding story (1:00:00) - Fundraising and investors (1:11:00) - Traction - Revenue, users, employees, margins (1:14:23) - Product and monetization strategy (1:25:22) - Competition and options for exit (1:48:46) - Olumide's overall thoughts and outlook (1:55:17) - Bankole's overall thoughts and outlook (2:01:00) - E's overall thoughts and outlook (2:09:01) - Recommendations and small wins Olumide's recommendations & small wins: Recommendation: Syncback Pro (works better than OneDrive & Google Drive clients for backing up stuff) & Money Talks Bloomberg article about how Zillow stopped selling houses: By Afrobility legend Matt Levine Small win: Got a new larger air fryer. It's awesome Bankole's recommendations & small wins: Recommendation: Tete Muo Bu Muo by Tony Tete Harbor & The Infinite Machine by Camila Russo Small win: Great birthday dinner :) E's recommendations & small wins: Recommendation: Prosperity paradox (by Efosa Ojomo) & Founders at work (Jessica Levingston) Small win: 3 companies I'm working with got into YC Winter 2022 batch Listeners: We'd love to hear from you. Email info@afrobility.com with feedback! Founders & Operators: We'd love to hear about what you're working on, email us at info@afrobility.com Investors: It would be great to link up with you to drive the ecosystem forward. Contact us at info@afrobility.com Join our insider mailing list where we get feedback on new episodes & find all episodes at Afrobility.com

Most African countries have fared relatively well in their responses to the coronavirus pandemic, reporting rates of infection and mortality that are far below those seen across much of Europe and the Americas. Yet Africa is expected to take a huge economic hit from the pandemic and its associated containment measures, with the African Development Bank forecasting that an additional 50 million people could be pushed into extreme poverty across the continent. Vaccination drives and economic relief packages will certainly be important to contain the damage. But according to author and researcher Efosa Ojomo, emerging-market nations should be aiming to build societies that are more resilient to economic shocks like the pandemic.  This week on Trend Lines, Ojomo joins WPR's Elliot Waldman to discuss how the concept of “market-creating innovations” can foster broad-based solutions to poverty and other social problems in the wake of the pandemic. Ojomo is the head of the Global Prosperity research group at the Clayton Christensen Institute for Disruptive Innovation, and a co-author of “The Prosperity Paradox: How innovation can lift nations out of poverty.” Relevant Articles on WPR: Africa Is a Coronavirus Success Story So Far, If Only the World Would Notice How Africa's Surging Technology Sector Can Reach Its Full Potential Tech Giants Are Engaged in a New Scramble for Africa The Continued Relevance of Informal Finance in Development Trend Lines is produced and edited by Peter Dörrie, a freelance journalist and analyst focusing on security and resource politics in Africa. You can follow him on Twitter at @peterdoerrie. To send feedback or questions, email us at podcast@worldpoliticsreview.com.

In this episode, we look back over our recent Insight events and ask what impact technology will have on economic growth on the African continent, and what challenges and opportunities it brings with it. We have a stellar line up of guests with expertise in investment, business and academia - you'll hear from:  Efosa Ojomo, Leader of the Global Prosperity research group at the Clayton Christensen Institute Dr Frannie Léautier, CEO of Southbridge Investment Fred Swaniker, Founder of the African Leadership Group Nikunj Jinsi, emerging markets venture capital investor Tenbite Ermias, Managing Director and Head of Africa at CDC Group Additional links: Subscribe to our Insight newsletter here 

Never has technology so dramatically changed humankind than in the last century. Organizations are using technology in truly innovative ways to solve the many problems we have and to create opportunities such as improved living conditions, economic impact, and longer life expectancy. This week, we discuss how diversity in technology and rigorous test can help drive innovation. We welcome Efosa Ojomo from the Clayton Christensen Institute and Matt Stephenson from Code2College to talk about the power of tech that welcomes everyone and provides solutions for all members of society. We share examples of how the combination of AI and clinical expertise may be able to save lives, with the help of test of course.  Learn More About: What are some examples of how our smartphones can catch disease early and cut the costs of lab tests? Organizations use technology in innovative ways, but to keep up momentum, innovation needs to be as accessible as possible. How Henry Ford and the Ford Motor Company not only brought cars to the masses, but sparked the creation of millions of jobs, more affordable health care, and roadway structures. What does the democratization of technology mean, and how can test bring the costs down? How can test can affect a country's quality of life and can help ease the effects of poverty. How are we using test and technology to bring products to underserved markets that may not have access to power or clean water? Why is testing infrastructure absolutely necessary? Validation tests and production testing are both used to get a new product to market. How rigorous are each? Why is it important for managers to think about innovation? Why is it important for young people to learn about the importance of test and diversity in technology, and what is Code2College doing to help our young generation of engineers and coders?  Resources Mentioned: NIThe Prosperity Paradox Code2College CRADLE Butterfly Network Band-Aid   

What turns a developing country into a prosperous one? For years, Efosa Ojomo has been trying to answer this question. And what he has found – through starting his own nonprofit in Nigeria, doing research at Harvard Business School and writing a book called The Prosperity Paradox with Clay Christensen – reverses many of our existing ideas around aid. In this talk, Efosa lays out a new approach to fighting poverty that identifies innovation as the key driver of prosperity. But how does one build an innovative business in a developing market? In environments that can be as unfamiliar and unpredictable as they are full of opportunity? Stick around after the talk, where Modupe and Efosa discuss the unique mindset that this type of business requires.

He discovered the prosperity paradox ... and its solution. Efosa Ojomo is a Nigerian author, former TED speaker, and researcher. He empowers entrepreneurs across the world to transform their communities through innovation. Ojomo discusses market creation and identifying opportunities for growth with host Charles Mizrahi. Topics Discussed: An Introduction to Efosa Ojomo (00:00:00) From Nigeria to America (00:06:22) American Prosperity (00:07:22) Market-Creating Innovations (00:16:37) Creative Destruction (00:23:50) Silicon Valley 3.0 (00:32:40) Changing the System (00:39:32) The Prosperity Paradox (00:46:02) Innovation Bootcamp (00:49:23) Guest Bio: Efosa Ojomo immigrated from Nigeria to the U.S. in search of a good education and the American dream. After attending Harvard Business School, he worked alongside legendary professor Clay Christensen and Karen Dillon to coauthor The Prosperity Paradox: How Innovation Can Lift Nations Out of Poverty. This book gives insights into building sustainable economies and is a call to action for anyone looking to create lasting change. Since then, he has given several presentations on prosperity and entrepreneurship — such as his https://www.ted.com/talks/efosa_ojomo_reducing_corruption_takes_a_specific_kind_of_investment (TED) talk. He’s also partnered with The Legatum Center for Development and Entrepreneurship at MIT to build a market-creating innovation bootcamp for emerging entrepreneurs. Resources Mentioned: ·       https://www.amazon.com/Prosperity-Paradox-Innovation-Nations-Poverty/dp/0062851829 (The Prosperity Paradox: How Innovation Can Lift Nations Out of Poverty) Don't Forget To...  https://the-charles-mizrahi-show.captivate.fm/listen (Subscribe to my podcast! ) Download this episode to save for later  Liked this episode? Leave a kind review!     Subscribe to Charles' Alpha Investor newsletter today: https://pro.banyanhill.com/m/1729783 

In this episode, Efosa Ojomo returns to The Disruptive Voice to discuss his latest research at The Christensen Institute’s Global Prosperity group. He and his colleague, Lincoln Wilcox, recently published a report highlighting six innovative strategies for creating new markets in emerging economies. This conversation, hosted by Katie Zandbergen, focuses on the findings from their research, along with the implications for those looking to create prosperity around the globe. Efosa speaks not only about the tremendous opportunities surrounding market-creating innovations, helping would-be entrepreneurs to see prospects for building and sustaining successful enterprises where they might least expect them, but also about demystifying the process, debunking false narratives and empowering entrepreneurs to launch innovative and market-creating ventures in emerging markets. 

Day 7 of my 30 day Challenge Written by Clayton Christensen, Efosa Ojomo and Karen Dillon Prosperity Paradox will be an interesting book for those keen on understanding the connection on business and society. The book puts forth the argument that Market Creating Innovations help nations lift their society from Poverty. Do Email Me any Comments/Suggestions: penpositive@gmail.com Join the Community: https://www.penpositive.com Subscribe to the YouTube Channels Penpositive: https://www.youtube.com/penpositive Personal: https://www.youtube.com/vinodnarayan Poetry & Blog: https://vinodnarayan.com/ Connect on Instagram @penpositive or on Clubhouse @vinodnarayan --- Send in a voice message: https://anchor.fm/penpositive/message Support this podcast: https://anchor.fm/penpositive/support

Ben & Jay have an inspiring conversation with Javier Lozano, Founder and CEO of Clínicas del Azúcar, a growing chain of "one-stop shops" for diabetes care in Mexico.  Armed with a willingness to explore, a passion for helping people in need (including his mother) and the theories of Dr. Clayton Christensen, Javier has created a truly disruptive innovation focused on the consumer's Jobs To Be Done and the concept of non-consumption.  His work is literally saving lives.  Readers of Clay's 2018 book, The Prosperity Paradox, co-authored with Karen Dillon and Efosa Ojomo, will remember Javier's story, which was featured as a live case study in market-creating innovation.  For more on market-creating innovation, see the Global Prosperity content published by The Christensen Institute, authored by Efosa Ojomo and Lincoln Wilcox.Also, The International Finance Corporation, an affiliate of The World Bank, authored an excellent case study of Clínicas del Azúcar.   Download and read here.All Things Twitter:A Sherpa's Guide to InnovationBen TingeyJay GerhartSupport the show (https://healthpodcastnetwork.com/)

Most African countries have fared relatively well in their responses to the coronavirus pandemic, reporting rates of infection and mortality that are far below those seen across much of Europe and the Americas. Yet Africa is expected to take a huge economic hit from the pandemic and its associated containment measures, with the African Development Bank forecasting that an additional 50 million people could be pushed into extreme poverty across the continent. Vaccination drives and economic relief packages will certainly be important to contain the damage. But according to author and researcher Efosa Ojomo, emerging-market nations should be aiming to build societies that are more resilient to economic shocks like the pandemic.  This week on Trend Lines, Ojomo joins WPR’s Elliot Waldman to discuss how the concept of “market-creating innovations” can foster broad-based solutions to poverty and other social problems in the wake of the pandemic. Ojomo is the head of the Global Prosperity research group at the Clayton Christensen Institute for Disruptive Innovation, and a co-author of “The Prosperity Paradox: How innovation can lift nations out of poverty.” Relevant Articles on WPR: Africa Is a Coronavirus Success Story So Far, If Only the World Would Notice How Africa’s Surging Technology Sector Can Reach Its Full Potential Tech Giants Are Engaged in a New Scramble for Africa The Continued Relevance of Informal Finance in Development Trend Lines is produced and edited by Peter Dörrie, a freelance journalist and analyst focusing on security and resource politics in Africa. You can follow him on Twitter at @peterdoerrie. To send feedback or questions, email us at podcast@worldpoliticsreview.com.

Prosperity and sustainable, inclusive growth are the ultimate goals for developing economies. However, despite the global community spending billions each year on economic development programmes, poverty and a lack of opportunity within these countries persists. But what if there is a way in which we can support these economies to evolve from poverty to prosperity in less than two decades? Innovation expert Efosa Ojomo believes focused and impact driven market innovations could do just that. Join us for this conversation with Efosa, co-author of The Prosperity Paradox and Senior Fellow at the Christensen Institute on Disruptive Innovation. Efosa is joined on the panel by Nikunj Jinsi, a hugely experienced venture capital investor in developing countries.  The discussion is chaired by CDC's General Counsel and Head of External Relations, Colin Buckley. 

In this episode we have Efosa Ojomo, Global Prosperity Lead at Clayton Christensen Institute. Efosa is the co-author of "The Prosperity Paradox: How Innovation can lift Nations out of Poverty" alongside the great Clayton Christensen. We covered how focusing on creating prosperity can lift Africa out of poverty and why market-creating innovations are key for the continent by transforming complicated and expensive products into products that are simple and affordable, increasing access to nonconsumers and providing a strong foundation upon which societies generate prosperity. We also discussed the role of the mobile phone in driving the digital revolution happening in Africa and how Fintech innovation should focus on economic inclusion rather than financial inclusion, especially when the majority of the now financially included are not being lifted out of poverty. And we ended on a special note by reflecting on the legacy of the great Clayton Christensen and how it impacted Efosa’s personal journey.

I had a conversation with Efosa Ojomo of the Clay Christensen Institute. He is the co-author of the book The Prosperity Paradox - along with Karen Dillon and the late Harvard management guru Clayton Christensen. The central argument of the book is that economic development happens when businesses innovate by creating a previously non-existent market. The book has been largely shunned by development scholars and this is where I started my conversation with Efosa. I also go through some other criticisms of the book, and Efosa had interesting answers. The book relies on case studies and might be considered not empirically rigorous by development scholars. Regardless of critics, the argument is powerful and hard to ignore. I read it as changing the overall incentives of all stakeholders in the process of economic development - when bureaucrats, the private sector can all benefit from making the pie bigger, things can move very quickly.TranscriptTL: Hi, and this is Ideas Untrapped. My guest today is Efosa Ojomo. Efosa is a senior research fellow at the Clay Christensen Institute. He has written a book called The Prosperity Paradox. It's a bestseller, and personally, one of the most refreshing books that I have read on the subject in the last couple of years. You're welcome, Efosa.EO: Thank you very much, Tobi. It's a pleasure to be here with you. I can't wait to dive in. Thank you.TL: Okay, so I'll start with the book and the central thesis, which I know as also appeared in your other publications, be it essays and articles. You talked about market-creating innovations as the key to prosperity, to getting the process of development started, to fighting poverty. What is your convincing evidence, so to speak, for this particular paradigm you're advocating? And why is the "Development Establishment", you know, aid agencies and scholars working in that area, why are they missing that point of view?EO: Wow, so that is a great question to start. Unfortunately, it's not a question I can answer with one answer, so let me unpack the question. Because you asked what's the evidence for market-creating innovation? Why do development practitioners approach development and antipoverty programs a certain way? And why haven't they bought into this idea - the notion of market-creating innovation? So let me start with diagnosing the problem. When you want to address any issue you have to make sure you spend a lot of time diagnosing it. Let's go back to the aid industry and when it really began.1949, Harry Truman gave a speech where he actually, unintentionally, I believe, catalyzed the beginning of the modern-day development industry. And in his speech (it was his inaugural address, you know, president of the US at the time), he defined the problem of development as rich versus poor. Developed versus undeveloped. First world versus third world. He didn't use all that language, but that's essentially how he defined it. As, you know, we are developed and we have all these resources, these poor countries are not developed, they don't have these resources, let us transfer resources to them and help them develop.That is the main way the development industry works today. It's this idea that you are not developed, we are developed, we're going to transfer resources to you. So that's number one, right, [on] why the industry operates the way it does. Number two is that the development industry is an industry that attracts certain types of people. And so if you look at big players in the development industry, what you're going to see are people who have gone to school to get typically a PhD or Masters degree in the area of development. And so they study development as a whole as an entire entity and the research they do is often very focused on how one element impact entity.So you might write a PhD thesis on how education of girls in this part of Ghana impacts their ability to go to school. Now, that's an interesting paper and you may find out, oh, if we educate girls, more of them will have fewer kids and they'll get advanced degrees, but that will not lead to the development of Ghana as a country. It answers, oftentimes, what I think is an inconsequential question. And so the development industry has a lot of players trying to do good work, unfortunately, they're answering the wrong or I would say inconsequential questions.The third thing I would say with regard to development and why it's practice the way it is [is], in a weird way, we know what the answer is. The answer to development looks like, right, in our minds, whether it's right or wrong, it looks like America. It looks like Japan. It looks like France and England. In other words, you go to these countries that are wealthy, and generally speaking, things work. The roads are good, the electricity does not go out, the law enforcement, for the most part, works. And so you say, "you know what? The problem in our countries that are not yet developed is all these things don't work. So let us make them work." Let us fix the roads. Let us fix the laws. Let us fix the schools.What these three things I just discussed are missing is the fundamental mechanism that helps these things work. Right, the fundamental mechanism that actually provides the resources or creates the value that really enables these things to work. And that fundamental mechanism is market-creating innovations. Which is connected to the initial question you asked: "what's the evidence that this actually worked?" Again, to answer that, we have to go back in time. We have to say, "if we have this hypothesis that market-creating innovations work, how can we show that? We had to go back to a time when these wealthy countries, the United States, countries in Europe, Japan and so on were not wealthy. We had to go back to when they had demographics that are similar to many poor countries today. And we said, what happened? Did these countries simply build the great infrastructure all of a sudden? The government, were they never corrupt and they just woke up one day and began to institute good laws and practices? Or was it a more dynamic nonlinear process of entrepreneurs across the country creating new markets, employing people, generating tax revenues, enabling the government to overtime improve its institutions? What we found was the latter. It was a more dynamic and nonlinear process.And so that kind of finding is really hard to document at scale and what I mean is, you know, when you pass a law, it's in the record books, we know exactly when this law was passed and so we can look at society before the law and we can look at how society evolves after the law. The problem with innovation is it's really hard to say, okay, this is the date - on November 5th, 2006, this is the date this innovation came and created all this impact. It's a process. And so instead of looking at oh, these were the laws that were passed, this is how society evolved, that's how the institution changed the society. What's more important to do is say "what led to the passage of those laws? Who fought for the passage of those laws? Where did they get the resources to fight for the passage of those laws? Where did the government get the resources to enforce the laws?"And so these questions are a lot more difficult to answer, but when you begin to unpack them, it's hard to divorce development from innovation and more specifically market-creating innovation. My hope is that development practitioners begin to ask the tougher questions and begin to engage in what a wise man, once called "intellectual honesty." And really assess - are our programs working? Are they working the way we want them to work? We've been doing development like this for over the past 20 years, over the past 30 years. How has that resulted in prosperity? COVID-19 has come around and all of a sudden development is pushed back 25 years. Uh, was it really pushed back 25 years or were we celebrating a false sense of progress? Because development is not pushed back 25 years in Japan, it's not pushed back 25 years in France, I can tell you that. And so we have to get to the point where we are asking the difficult questions on how to truly do sustainable development.TL: I want to go to your latest article in Project Syndicate where you challenged African entrepreneurs and business people to rethink the way they do business, and invests more in market-creating innovations. My question is why are they not thinking about this already, what are the barriers if the returns are there given some of the examples and evidence you've cited?EO: Well, first of all, market-creating innovations are innovations that transform complicated and expensive products into products that are simple and affordable. Now, these innovations make these products more accessible to many, many more people in society. And so an example would be the proliferation of mobile phones all across Africa, for instance. Or a company in Ghana called mPharma that is making medication drugs more affordable, more accessible to people. Micro Insurer is another example, making insurance more affordable to people who historically would not be able to afford existing insurance products. So examples abound. Now the question you ask about why if these things are so interesting and exciting, why are they not being pursued?A couple of reasons, the first is there is a sense that innovation is something that happens after a society develops and becomes prosperous [because] it's only people with, you know, disposable income, with extra income that can actually afford many products on the market. So that belief is widespread. And unfortunately, it's really hard to go against a belief. One of the things we're trying to do is say no, no, no, innovation is not something that happens after a society develops, innovation is the process by which society develops. So that's one. The second thing is this concept of non-consumption.Now, non-consumption is a phenomenon that happens in every society, but it's more prevalent in emerging economies or poorer countries. It describes how many people in the society would benefit from gaining access to a product or service, but because of the cost of the product, because of the skill necessary to use the product or the time needed to actually purchase and consume the product, or the simple fact that the product is just not available, many people cannot access these products. It doesn't mean they wouldn't benefit, but there are obstacles or barriers.Now, the non-consumption economy as we like to call it contains all these individuals. The problem is when you do market research on opportunities, a lot of times the insights we get from our market research point to what we call the consumption economy. It points to people who already consuming. And so when you look at the market research for televisions in Nigeria or refrigerators in Ghana, what you are measuring is not all the people who would benefit if they had access to these products or services. What the market research data is measuring is all the people who can afford the services. And so? You say oh, refrigerators in Nigeria, only 2 million people have them, as an example - I actually don't know the number off the top of my head. Only 2 million people, that's a very small market. That doesn't warrant our investment especially when you compare it to a hundred million in the US, there's no market in Nigeria.What market research does not take into account is what about nonconsumption? What about all the people who would benefit from gaining access to these refrigerators? [But] because we don't measure and value nonconsumption, it's hard to even see it as an opportunity. And the last reason I would give, you know, I'd be remiss if I didn't say [is] it's really difficult to go after nonconsumption. It's difficult for the first two reasons I described and it's difficult because you are literally creating a market that does not exist.And so in the research that we've done on just studying market-creating innovators, whether the ones in the US, in Europe, in Africa, in Asia it doesn't matter. Before these innovators create the market, there is widespread disbelief, especially from those who are experts these economies. They tell them there's no way that this market exists. These people are too poor. They're not educated enough, they can't afford these products. And so, to go against the grain when there's no market, the people are poor, the environment is difficult to work in, those are obstacles that are really difficult for entrepreneurs and investors. And so part of our work, what we're trying to do is, say, look, many of these demographics we see, many of these characteristics of these economies are very normal. They're not easy, they're simply incredibly normal. You're not doing what has not been done before. And if we can normalize these difficulties and say if you take a more predictable approach to innovation and investment, we can't guarantee success but we can help mitigate failure. We think you can actually do better in these emerging economies.TL: Do you think that there are conflicts of interest in most of the boardrooms of African businesses? I mean, in that piece you challenged Milton Friedman's opinion of the responsibility of a business in society, which he says is solely to the shareholders or the stakeholders. So, do you think that there's a conflict of interest in most boardrooms, where some of the things that entrepreneurs and some business leaders are interested in, in this case, market-creating innovations, are not things that investors really think can give them returns on their capital?EO: Yeah, so I think there's a lot to unpack in that...because of the abundance of data all over the place, unfortunately, we now live in a world of short-termism. There's more short-term thinking going around. What do I mean? Well, you know, if I'm watching the news and I hear about this company, this investor that made a lot of money on some investments, was able to cash out in a few years, that affects the way I think, it affects the way I measure my own performance. And so this abundance of data has created short-term thinking.In addition, what you also have is a lot of the literature on finance, what constitutes a good investment comes from countries that are already prosperous. They come from countries where I would say they are no longer, generally speaking, in the market creation phase. And so they are more in the efficiency phase. So they have roads, they have institutions, they have organization building companies and the question is often, oh, how do we make this more efficient? How do we make better products? When you use those same metrics to analyze projects and organisations in Africa or other emerging regions, you have a mismatch because the continent is still in a market-creating phase. And so to use private equity metrics that I would use in New York to measure projects in Lagos or Abuja or Accra or Nairobi makes absolutely no sense. Literally no sense. It's akin to using the same metrics to analyze the development of a 3-year-old and a 30-year-old. It makes no sense. And so instead of a conflict of interest, I think I would say it's a mismatch of metrics.If, as the CEO of an African company or the board chair of an African company, I had the goal to grow my market size and capture 60 percent of the customers in Africa. Say, I make baby food or something 'cause you know Africa is a growing continent. Well, I'm not going to measure my performance the same way Gerber babies measures its performance in other countries. I'm going to say look, what did baby food companies go through when the US was a poor country? What did they invest in? How long did it take? How did they manage the relationship with government? How did they manage relationship with the community stakeholders? How did they develop their staff? And I'm going to use those metrics. 'Cause if I use the metrics that these companies today are using, I cannot develop. It's not like it'll take time. No no no, like, we will never develop.Now, you know, there will be some wins here and there, there will be some lucky breaks here and there and that's what we see from time to time. But to truly develop in the circumstance we find ourselves, we need to step away from using metrics that are propagated all over the place and develop a core set of metrics that are contextualized to our own circumstance.TL: Do you think that this framework that you describe - [that is] businesses really innovating their business models to target nonconsumption and grow the pie, so to speak. Do you think it's the absolute fundamental thing that has to happen, 'cause the way I read your book and some of your works is like a chicken and egg problem, right? Like, what has to happen first, you know? Some in the development literature would say that you need institutions, you need good institutions first before you can do some of these things that you say. What is your response to that?EO: I mean, I empathize with those who say we need good institutions, but that is not really a value-add statement. The reason I say that is, okay, we need good institutions, what do we do next? We look at the Nigerian government, at least the federal government...in addition to the lack of managerial and technical capabilities, the government has roughly $200 or so to spend per year per Nigerian. Of that, maybe fifty to $75 goes out the door to service its debt. So roughly $125 to a $150. In addition, when you look at where it's starting, I mean, nobody would look at Nigeria and say we practice good governance, so it's starting from the back of the pack, and so it needs even more resources to get to good governance. When you compare where Nigeria is and what it has, the resources to, again, you know, whether it's Norway, Denmark, America. Norway spends twenty to $30,000 per person per year. And so the idea that, oh, Nigeria needs good institutions, that's like saying a homeless person needs more money. If they had more money, they wouldn't be homeless. That's not a value-add statement.The question is, how do we get to good institutions? How did the US get to good institutions when it was poor? And so if somebody comes up and says - you know what Efosa, Nigeria spends $150 per year per person, here's how they can actually get good institutions and it's a realistic model. Then we can start the conversation. But when, you know, these experts throw out blanket statements oh, we need good institutions... I'm like, okay, what am I gonna do with that? What is the police officer who is demanding brides, making $50 a month going to do with you need to have better institutions? What is that politician who has made a bunch of deals before he or she becomes a senator or a governor and they get into office and they have to square all those they made deals with? They have to figure out how to amass as much wealth as they can because there are little to no economic opportunities in the country, what are they going to do with the "you need good institutions?" There are no incentives. Right? To live out that statement. So we do need to move a lot further from the "we need good institutions" argument because it has not done anybody any good.You know, there's a paper we referenced in the book - how not to fix problems that matter? And ultimately what happens is a majority of institutional reform programs funded by big development players do not work. You know, you come to my country, you tell me, oh, I should behave this way, I should do this, I should make sure this is easier for people and many of the public sector participants on the ground just listen, they take the development dollars, they reformed the institutions in a way that makes the donors happy and they keep doing what they're doing. Because it doesn't cut deep. It doesn't fundamentally change how people think about society. The incentive systems, they don't change. So, do we need good institutions? Absolutely. How do we get there? That's a tougher question.TL: Staying with that thought. Now, isn't there a case for, well, maybe it depends on what we mean when we talk about institutions right? And I know that scholars and even people who work in development are guilty of trying to imagine already formed institutions in developed nations and trying to graft a lot of their features in countries that do not have them. But for businesses to take risks, you know, don't you think that institutions like basic property rights protection, contract enforcement and things that create the environment for you to be able to take risk, however minimally, don't you think those should come before market-creating innovations or targeting non-consumption in the way you describe it?EO: It's a good one. I think the better question to ask has to be more specific. Now, I'm not saying investors should just go and put their money in any country. And there no, at least, limited guarantees, that's not what I mean. I mean, after all, businesses are operating in Nigeria as we speak. I mean you are speaking to me through an Internet service connection. So the idea that somehow institutions don't work and we need better institutions, I mean, it's not too mature. We have to mature that idea. So we have to be specific. We have to say, if you are going to invest in this space, in this country, in this region, you have to ensure the specific fundamental requirements that as best as you can, no investment is ever secure or ever guaranteed... But you have to ensure there are fundamental, sort of legitimate, base-level institutions exist.And I think if we went in with those sorts of questions, not ways Nigeria on the ease of doing business index, how is Nigeria's corruption perception ranking? That's too broad, generic, and that's not helpful to anybody. If the folks who are providing us with this Internet connection went into Nigeria with that thinking they would not have gone in. And so, somehow, that question forces an answer that is not helpful. The question has to be, look, I'm a transportation investor, I wanna go and make transportation more affordable for people in Malawi. Alright, let me look at who the transportation players are. Let me understand that sector. Let me understand who the government players are. Let me understand what the regulations are, how have they changed it over the last five years. How might they change it over the next year?You have to do your homework. And, no offence, many investors are not willing to do the homework. And so of course, you're gonna not find Nigeria attractive when you go in with the oh, don't we need the baseline this and that? No, no, no, no, that's a lazy way to think about investing and more specifically, development. We go in more targeted. And if we do that, again, no guarantees we will be successful but that's a much better problem-solving exercise than oh, yeah, let Nigeria move up some rankings. Let's improve. What does a good institution look like? I mean, like you know, in the broad sense, what does that really even look like?I mean, I think I would be more targeted than looking at Nigeria or, really, any country from a high level, like, how are the institutions? Don't we need this base level?TL: That's a good point, but here is another way to look at this from my perspective. Some of the examples you cite like Mo Ibrahim, Celtel; Tolaram in Nigeria, don't you think that there's a bit of a survivorship bias in some of those examples? Like, for example, if we look at the case of Tolaram, yes, it has done really well. Well, "well" is relative here, so, but it has survived.EO: It has.TL: Yes, and it's become a household name and it may well be a replicable model for investing and doing business in this environment. But you can also argue that over those decades, a lot of businesses have also tried and failed.EO: Yes.TL: And aren't you picking winners? And in that sense, not really robust with your sample set in that sense. Because a lot of entrepreneurs who are trying to do things differently would tell you how hard it is. Some of them are losing money, some of them are losing their skin, some are highly demotivated and these are people that really, really want to do bold and innovative things. But the general, again, institutional environment, and in this case, specific policies that worked against them are serious barriers. So aren't you effectively simply picking winners and just ignoring the other side?EO: It's a good question. I think I would answer, yes, if there was something anomalous about Tolaram in the context it finds itself. And so if I did not see similarities between Tolaram and Isaac Singer, who we wrote about, or Henry Ford who we wrote about, if I did not see similarities in how they had to engage with government, how they had to raise capital, how they had to almost lose their skin (in your language), then I would say, oh, yeah, we're just picking winners. But there's nothing anomalous about what they've done. In fact, I expect winners to look like Tolaram, Mo Ibrahim and several other companies that we talk about.If they don't look like them, then the chances that they will win, at least market-creating, are very very slim. The other way I would respond to that is, I have never once and I will never say this is the easy path. This is incredibly difficult. It's so difficult that I am convinced this is the critical missing piece. It's paradoxical, but that is why we are not developing. Because there is this incredibly difficult thing we have to do, but we believe the only way we can do it is if the environment allows us do it and so we have to fix the environment. Now we believe that so strongly that we are willing to invest billions of dollars to try and fix the environment, with no connection to this mechanism that's gonna make the environment thrive. That's how strongly we believe in educating the public, in institutional reform, in fixing infrastructure whether or not it makes sense.We're trying to do all that and we're paying little attention to empowering entrepreneurs. And so if I, for instance, were Mo Ibrahim, after I sell my Celtel and I become a billionaire, I would say okay, what's the next industry I want to democratize? And I go, and I do the hard work of building that I will not do governance. Nobody is winning the prizes. It's incredibly difficult to do any meaningful reform because the equation, we have the backwards. Development is difficult. There are no easy answers here. What we have to do is ask, what gives us the best chance? Does wishful thinking in light of poorly paid civil servants who have little to no incentive to improve the system give us the best shot at success? Or does figuring out a way to empower and create new markets where some of the revenues from those markets can be pumped into the institution and overtime maybe it gets better. Does that give us a better shot? I think I'm gonna put myself in that camp.The last thing I would say on this is, there's a professor out of [the] University of Michigan. Yuen Yuen Ang who just published a book called China's Gilded Age - The paradox of economic boom and vast corruption.TL: I know her.EO: Yes, and so she talks a little bit more about the public sector side of things. I mean, no two countries are alike or identical, but she does a really good job of explaining how even in light of China's vast corruption, there was an economic development push that prioritized investors, markets and as a result, China, for all its problems, has been able to lift a billion people out of poverty, grow 10 percent over the last four decades, and improve. So, there no easy answers here, it's just we have to pick the camp we think makes the most sense, and I don't think the camp where a monopoly entity with little to no incentive to change, trying to incentivize them to change by giving them more resources and empowering them when the incentive system in society hasn't changed, like, somehow, that makes no sense to me.TL: I like the Ang Yuen Yuen example. It's a great example and I've read both her books, I think what she's doing is fantastic. So here is my question on that. You gave the example of Mo Ibrahim. Now, don't you think that people like Mo Ibrahim - and of course this is not really about him - or people like him who focus on the issue of governance... now we may critique or find some fault in how we've been going about this. But don't you think they focus on the issue of governance because it is through governance, again, I reiterate, that you can get a hundred Mo Ibrahims?Because, Tolaram may have adapted well, it may have really found a way to survive through thick and thin in Nigeria, however difficult others may say it is, by doing its homework and making targeted informed investments like you said. But, in the end, Tolaram doing well may not necessarily raise the GDP per capita of Nigeria.EO: Yeah.TL: Which in terms of poverty and prosperity that is what really matters at the end of the day, income for people. So don't think governance may not be the only way, but it's an easier, faster way for the kind of entrepreneurship that you are advocating to scale, really, really fast, you know. I mean, in America, yeah, Ford had an innovative business model that changed its generation and maybe the way business was done in America after. But also, there was an environment that did not entrench Ford, but that allowed others, Dodge, GM and most of these other companies to emerge and improve on those things and create tons of jobs.So don't you think that governance is vital in a way that it allows businesses that really want to innovate to scale their business model really fast and for other businesses to look at their success and be encouraged to enter that space and do even better things?EO: Absolutely governance is important. We say it in the book. Entrepreneurs ignite the fire, the government fans the flame. You can not have a developed prosperous society without ultimately getting governance involved, it's a matter of sequencing and incentives. Now, I would agree governance is important insofar as we're talking about the same thing. Again, I don't want us to limit our conversation to oh, good institutions are important, you know, that's a non-value-add statement. Governance is important if what we mean by that is working with economic development stakeholders to make sure the incentive systems in society benefit those who work in government. I, right now, can give you not one reason why a poorly paid civil servant who exists in a system that is steeped in corruption to go to work every day, do a great job, do as much as he or she can for the society that already thinks he or she is stealing money, not have enough money for rent, for health care needs, education need and go home because Mo Ibrahim Index says you need to have good institutions. No, No, No. That makes, again, no sense. I would not do that. You would not do that, I don't think.Now if what we mean by governance is vital is, look, let us sit down here and let's do it the way the Chinese did. Let us align your incentives with how much investment dollars are coming into your state. Let us make sure that, you know, yeah, you get paid $100 a month, but if you are able to attract this much investment, if you are able to make sure these entrepreneurs thrive, then you get a 50 percent bonus. You get a 100 percent bonus. You develop the incentives to help the government do the job that we're asking them to do. Because it is a thankless job. It is a terrible job. It is a job where everybody thinks you're stealing money, whether or not you are. And we know this. So the idea that we should just keep measuring, saying, "what's wrong with these guys? Why we need to fix it" without sitting down and saying, how can we realistically fix this so we limit the incentive for government officials to steal? We're going to be spinning our wheels for years to come, right? That is what I think we can do from a governance standpoint. Align incentives, make sure, me as a public servant, I benefit if my society benefits.If my society benefits, and I don't benefit, well, forget about it. It's not going to happen.TL: I agree with you, we need to move away from some of these useless indices, to be honest. So do you think that changing incentives the way you analyzed, do you think that there are some, I don't want to say natural disadvantages or barriers that are specific to certain societies. For example Nigeria, there is oil and the so-called resource curse.EO: Yeah.TL: How do you think that can work with incentive problem? You know, because you have bureaucrats and public servants who have no incentive in the success of the private sector. They can simply sell oil licenses and drilling rights and keep collecting taxes from that same sector and borrow to plug the other fiscal holes and live like that for decades.EO: Yeah. So, that's a tough question, right? And, again, I want to be as practical ask as possible. If you had a trust fund baby, you had a really wealthy person who didn't manage their money well, allowed their kids to do whatever they wanted, the question you're asking is, how can we incentivize this trust fund baby to actually care about self-improvement and development? I mean, that's difficult, right? What I would do is try and find the officials who will be open to a different way of creating value and wealth. I can guarantee you not all 36 governors in Nigeria are extremely corrupt, or at least corrupt at the same level. Not all of them will be uninterested or disinterested in an idea to create a new industry in their region.TL: Certainly not.EO: So it's not to say this is an easy road or, you know, you're just going to find people willy nilly. But you go to the first governor... I'm simplifying because we're on the podcast, right? I know people in government right now, and I can give names of people I trust. People who are trying their best to do well by the community. So the idea that oh, everybody 'cause I think that is what we imply when we say the government has access to oil and you're right, they do. But there are still going to be people in government who we take interesting ideas to and in communicating those ideas, we help them see if this works out, you would have generated this much income for this state. You would have created this much value if you allow this to work out. These many constituents would get jobs. You can talk about this in your next campaign.Now, if you take that message to every governor in Nigeria, maybe they will all say get out of here, I am not buying it. If that happens, then go to Ghana. Go to Cameroon. Go to Rwanda. Go somewhere until you find a country where it will work. Again, I'm not advocating this because I think it's easy. In fact, I'm advocating it precisely because I think it's difficult. But, unfortunately, I do not see another way we can develop. I just do not. And once I do, I will start promoting that because before we started the podcast, you and I discussed the idea of intellectual honesty and I suppose I just do not see how we get out of the rut we're in if we don't start to think differently.TL: One final area I'll like us to explore is culture. I mean, one of the books you cited in the book, which I like very much, is Deirdre McCloskey's Bourgeois Dignity, and she talked about how the social embrace, so to speak, of the culture of Commerce, sort of laid the groundwork for some of the things that happened in the West, you know?EO: Yeah.TL: So what role do you see for culture here? I mean, it's easy to talk about hard metrics and talk about governance and you know, but we know that culture is the software of society. So what role do you see for culture in this?EO: You are absolutely right, culture is key. Culture is the software. But culture runs on hardware. And culture is connected to hard metrics. And so if I use your analogy of software and hardware, there is no software I know that runs on software like every piece of software runs on hardware and depending on the makeup of the hardware, if you have a really fast processor hardware, then your software will run faster if it has the capabilities to. And so culture might seem like software that's malleable, and it is valuable, but it is not malleable without hard metrics.What do I mean? Well, let's think about why we may not value commerce as much as we should or why we value corruption as much as we do. Well, look at the hard metrics. If you're fortunate to get into a position of power in many of our countries, there are hard metrics in your life that increase - your access to the elites in society, certainly your bank account, your homes, your car, your children access to better education. Those are hard metrics. So the idea that somehow our culture values that practice makes complete sense. The idea that we value entrepreneurship and innovation in the US is connected to hard metrics as well, right? Look at the richest people here. It's all these innovators.So for me, the two are sort of one and the same. What we know is that you can't change the software if it has no bearing on the hardware, if you don't change the hardware. In other words, if we don't figure out how to increase or improve those hard metrics, it's gonna be very difficult for us to change the software, sustainably. We might for a little while, right, we might for a political term or two. But what we're talking about here is long term development, decades-long. And if we don't figure out how to help people in society make progress in a way that they lead better lives, their kids lead better lives, they have access to better healthcare and so on... Unfortunately, the software is not going to change, the culture is not gonna change. And so I do think we can connect the two better.TL: One final questions before I let you go, which is also a tradition on the podcast is, what is the one big idea right now that... it may be something you're working on or something you'll like to see. So what's that one big idea that you're thinking about right now that you will like to see spread and see the world adopt and see people believe more?EO: Yeah, so I think for me, in the context of my work, it is this - innovation and entrepreneurship are not things that happen after a society fixes itself. They are actually the process by which society fixes itself. If more people can believe that then we can begin to talk about the “how”. We can begin to say okay, Efosa I get that, but this is my circumstance, this is my context. How can that hold true in my circumstance? There are things like political innovation. When I talk about incentivising the government, that is an innovation. When I talk about entrepreneurs figuring out how to manage the governance issue, that's part of their innovation. So, I think, for me, it would be innovation is something that happens not after society fixes itself, but it's the process by which society fixes itself.TL: We'll do our best to help that idea spread.EO: Thank you.TL: Thank you so much. My guest today has been the author and prosperity researcher, Efosa Ejomo. Thank you very much for being with us, Efosa.EO: Absolutely, it's my pleasure. Thank you. This is a public episode. Get access to private episodes at www.ideasuntrapped.com/subscribe

How do you remove corruption from a society? How do you create lasting, sustainable prosperity in developing nations? Neither of these questions has an easy or obvious answer, but today’s guest is a leading thinker in how we can make positive investments in developing countries. Efosa Ojomo is co-author of Prosperity Paradox, and he’s here to help us think about how to create prosperity. He was such a great podcast guest that we asked him to speak at the FDI event in a few weeks, so you’ll want to tune in today and then at the conference to hear everything he has to share.

Ben & Jay are delighted to welcome back two researchers and thought leaders from the Christensen Institute, Efosa Ojomo and Rich Alton, to discuss their recent paper “Avoiding The Prosperity Paradox: How to build economic resilience in a post-COVID world.” This paper is a follow-up to the 2019 book Efosa co-authored with Dr. Clayton Christensen and Karen Dillon, The Prosperity Paradox:  How Innovation Can Lift Nations Out of Poverty. It serves as a playbook, bringing this big idea of market-creating innovation to an actionable level.This episode covers questions such as:How do you build economic resiliency in a country so that it can deal with unexpected shocks like a global pandemic?How do you size a market that isn't there?How do you spot the market that isn't there?We also discuss how the lessons of The Prosperity Paradox can be applied in the United States, where despite being the most affluent country in the world, has significant economic disparities and development needs.Everyone's home in the Twitterverse:The Christensen InstituteGlobal CCIEfosa OjomoRich AltonBen TingeyJay GerhartA Sherpa's Guide to InnovationHealth Podcast NetworkSupport the show (https://healthpodcastnetwork.com/)

On this episode hosted by Justin Ijeh and Bola Lawal, we spend time chatting with a special guest; Efosa Ojomo of the Clayton Christensen Institute in Boston. Efosa coauthored the best selling book;The Prosperity Paradox,with Prof Clayton Christensen, Who sadly passed not long after the work was published. The talk revolves around the central theme of Efosa’s work : Identifying non consumption opportunities & market creating innovations.

In the final episode of What's NEXT's first season, Efosa Ojomo explored how a framework for exploring innovation can help you make the right choices to grow your business. Efosa Ojomo leads the Global Prosperity research group at the Clayton Christensen Institute for Disruptive Innovation, a think tank based in Boston and Silicon Valley. In January 2019, Ojomo and late Harvard Business School professor Clayton Christensen published The Prosperity Paradox: How Innovation Can Lift Nations Out of Poverty.

This week on The Disruptive Voice, we're delighted to introduce you to Euvin Naidoo and Efosa Ojomo, who join us for a conversation about innovation, prosperity, and development in Africa. Originally from KwaDukuza, South Africa, Euvin is a Senior Lecturer at Harvard Business School, where he studies risk management, performance controls, governance, and agile execution. In doing so, he regularly draws on his work in leading banking and financial institutions in Africa, including McKinsey, Standard Bank, and BCG. He is joined by Efosa Ojomo, Global Prosperity Lead and Senior Research Fellow at the Christensen Institute. A 2015 HBS MBA who took BSSE with Clayton Christensen, Efosa also worked with Clay and Karen Dillon on what would be Clay's last book: The Prosperity Paradox. Euvin and Efosa are hosted by Erin Wetzel, Clay's Faculty Support Specialist at Harvard Business School, and together they reflect on the impact of Clay's thinking, how it applies in a pan-African context, and the importance of market-creating innovations.

So reads the title of a chapter in the book by Professor Clay Christensen, Efosa Ojomo and Karen Dillon, The Prosperity Paradox. The concept of looking at markets from different perspectives is at the heart of this optimistic yet practical book, in which the authors apply robust management theories to help leaders uncover and capture opportunities in developing markets. Read the full article at https://outsidelens.com/see-the-world-through-new-lenses/  Links and Resources Mentioned in This Episode: The Prosperity Paradox: How Innovation Can Lift Nations Out of Poverty by Clayton Christensen, Efosa Ojomo and Karen Dillon Efosa Ojomo's Website Christensen Institute How Will You Measure Your Life by Clayton Christensen, James Allworth and Karen Dillon Transforming Standards of Patient Care with Vas Narasimhan

I have read many books by the renowned (RIP) Professor Clayton Christensen, but there are two that I feel play an important role in the life of an entrepreneur and these are «How Will You Measure Your Life?» and «The Prosperity Paradox: How Innovation Can Lift Nations Out of Poverty», which is co-authored by Karen Dillon and African entrepreneur Efosa Ojomo. I met Karen Dillon through interactions on different social media platforms and by following and reading her various articles about business and innovation. I invited Karen to participate in my podcast as a guest to discuss her experience of working closely with Professor Christensen and how these two books have a great impact on organizations and individuals that seek to constantly innovate.

I have read many books by the renowned (RIP) Professor Clayton Christensen, but there are two that I feel play an important role in the life of an entrepreneur and these are «How Will You Measure Your Life?» and «The Prosperity Paradox: How Innovation Can Lift Nations Out of Poverty», which is co-authored by Karen Dillon and African entrepreneur Efosa Ojomo. I met Karen Dillon through interactions on different social media platforms and by following and reading her various articles about business and innovation. I invited Karen to participate in my podcast as a guest to discuss her experience of working closely with Professor Christensen and how these two books have a great impact on organizations and individuals that seek to constantly innovate.

Vas Narasimhan is not your typical CEO, having started his career in public health, where he became passionate about how to impact health on a large scale. Now, many years later and in the role of CEO at Novartis, his passion remains undiminished. The impact the company is having on patients is remarkable, be it with “miraculous” treatments that cure children of deadly diseases with one pill, or with the Novartis Access program.   In the first half of my interview with Vas, we discuss what Reimagining Medicine means in an R&D based company that is deeply committed to innovation; addressing the needs of the 2 billion people with no access to health care; and the potential for, and challenges of, radically improving patient outcomes with advanced therapies.  Read the full article on OutsideLens Blog: https://outsidelens.com/reimagine-medicine-vas-narasimhan/  Links And Resources Mentioned In This Episode: Novartis Novartis Access Follow Vas Narasimhan on LinkedIn and Twitter Unboss by Jacob Bøtter and Lars Kolind The Prosperity Paradox: How Innovation Can Lift Nations Out of Poverty by Clayton Christensen, Efosa Ojomo and Karen Dillon

Vas Narasimhan is not your typical CEO, having started his career in public health, where he became passionate about how to impact health on a large scale. Now, many years later and as the CEO of Novartis, his passion remains undiminished. The impact the company is having on patients is remarkable, be it with “miraculous” treatments that cure children of deadly diseases with one pill, or with the Novartis Access program.   In the second half of my interview with him, we talk about some of the changes underway in Novartis, such as how AI is being used to overcome organizational biases, the importance of both big “P” and small “p” purpose in an organization of 125,000 associates, of whom over 50 percent are millennials, and the 5 year cultural transformation the company has embarked on.  Read the full article on OutsideLens Blog: https://outsidelens.com/reimagine-medicine-vas-narasimhan/  Links And Resources Mentioned In This Episode: Novartis Novartis Access Follow Vas Narasimhan on LinkedIn and Twitter Unboss by Jacob Botter and Lars Kolind The Prosperity Paradox: How Innovation Can Lift Nations Out of Poverty by Clayton Christensen, Efosa Ojomo and Karen Dillon

Harvard Business School Professor Clayton M. Christensen died on January 23, 2020, and he left a remarkable legacy. He was a monumental figure in both the business and academic worlds, as well as in the Latter-day Saint community. He was the father of five children and author of at least eleven books. But to those who knew him, Clay wasn’t just a thought leader or a world-renowned professor or an influential Church member — he was a mentor, confidant, and friend unlike any other.In this episode, we spoke with Efosa Ojomo, Kyle Welch, and Barbara Morgan Gardner to share thoughts and memories of Clay.Efosa first met Clay during his time as an MBA student at Harvard. Along with Karen Dillon, Fos was the co-author of Clay’s final published book, The Prosperity Paradox. Next, we talked to Kyle Welch, a Professor in the business school at George Washington University. Kyle became close with Clay well during his time at Harvard as a doctoral student from 2009 to 2014. Our final interview is with Barbara Morgan Gardner, a Professor at Brigham Young University, and author of the book The Priesthood Power of Women. She got to know Clay when she did post-doctoral work at Harvard and as she served as an Institute Director in Boston.00:57 How Efosa met Clay11:42 How did Clay share his faith?22:25 How Kyle met Clay30:36 Kyle’s favorite stories from Clay34:30 How Barbara met Clay42:47 Clay’s lasting impact

Interested in solving poverty? Join Efosa Ojomo and Hunter Muse as they discuss The Prosperity Paradox - a book authored by Clayton Christensen, Efosa Ojomo, and Karen Dillon about solving poverty through innovative entrepreneurship.   

In today's edition Sunday Book Review edition of Daily Compliance News: The Prosperity Paradox: How Innovation Can Lift Nations Out of Poverty, by Clayton M. Christensen, Efosa Ojomo, and Karen Dillon Possible Minds: 25 Ways of Looking at AI, by John Brockman Why Do So Many Incompetent Men Become Leaders? (And How to Fix It), by Tomas Chamorro-Premuzic Zucked: Waking Up to the Facebook Catastrophe, by Roger McNamee Learn more about your ad choices. Visit megaphone.fm/adchoices

A quick brainstorm of 10 subjects I'd love to research, some of which I already do. What's the best way to research these interesting topics? Books, lots and lots of books, because let's face it, someone has probably published a book about it already. And here are 3 good books that come to mind: What schools could be by Ted Dintersmith Loonshots by Safi Bahcall The prosperity paradox by Efosa Ojomo

In today’s edition Sunday Book Review edition of Daily Compliance News: The Prosperity Paradox: How Innovation Can Lift Nations Out of Poverty, by Clayton M. Christensen, Efosa Ojomo, and Karen Dillon Possible Minds: 25 Ways of Looking at AI, by John Brockman Why Do So Many Incompetent Men Become Leaders? (And How to Fix It), by Tomas Chamorro-Premuzic Zucked: Waking Up to the Facebook Catastrophe, by Roger McNamee Learn more about your ad choices. Visit megaphone.fm/adchoices

Traditional thinking on corruption goes like this: if you put good laws in place and enforce them well, then economic development increases and corruption falls. In reality, we have the equation backwards, says innovation researcher Efosa Ojomo. In this compelling talk, he offers new thinking on how we could potentially eliminate corruption worldwide by focusing on one thing: scarcity. "Societies don't develop because they've reduced corruption," he says. "They're able to reduce corruption because they've developed."

L'idée répandue sur la corruption est la suivante : de bonnes lois avec les moyens de les faire respecter conduisent à la croissance économique et à la baisse de la corruption. En fait, cette vision prend le problème à l'envers, affirme Efosa Ojomo, chercheur en innovation. Dans une intervention qui nous interpelle, il nous propose de nouvelles manières d'envisager les moyens d'éliminer la corruption dans le monde en se focalisant sur une chose : la rareté. « Les sociétés ne se développent pas quand elles ont diminué la corruption », nous dit-il. « Elles peuvent éliminer la corruption parce qu'elles se sont développées. »

부정부패에 대한 흔한 생각은 이렇습니다. 좋은 법을 만들어서 잘 시행하면, 경제발전이 이루어지고 부정부패가 줄어든다. 혁신연구가 에포사 오조모는 현실에서 그와 반대되는 방정식이 존재한다고 이야기 합니다. 흥미진진한 발표를 통해, 그는 우리가 '희소성'이라는 한 가지에 초점을 맞추어 어떻게 전세계적으로 부정부패를 사라지게 할 수 있을지 새로운 관점을 제시하고 있습니다. 그는 이렇게 이야기 합니다. "부정부패를 줄였기 때문에, 사회가 발전하지 않습니다." "사회가 발전했기 때문에, 부정부패를 줄일 수 있습니다."

O pensamento tradicional sobre corrupção é: se boas leis são criadas e bem aplicadas, o desenvolvimento econômico aumenta e a corrupção diminui. Na realidade, temos a equação ao contrário, diz o pesquisador de inovação Efosa Ojomo. Nesta palestra convincente, ele oferece um novo pensamento sobre como poderíamos potencialmente eliminar a corrupção no mundo todo, concentrando-nos em uma coisa: escassez. "As sociedades não se desenvolvem porque reduzem a corrupção", diz ele. "Elas são capazes de reduzir a corrupção porque se desenvolvem."

Traditional thinking on corruption goes like this: if you put good laws in place and enforce them well, then economic development increases and corruption falls. In reality, we have the equation backwards, says innovation researcher Efosa Ojomo. In this compelling talk, he offers new thinking on how we could potentially eliminate corruption worldwide by focusing on one thing: scarcity. "Societies don't develop because they've reduced corruption," he says. "They're able to reduce corruption because they've developed."

La idea tradicional sobre la corrupción es la siguiente: si se crean buenas leyes y se cumplen correctamente, entonces el desarrollo económico aumenta y la corrupción disminuye. En realidad, tenemos la ecuación al revés, afirma el investigador en innovación, Efosa Ojomo. En esta convincente charla, nos ofrece una nueva perspectiva para erradicar la corrupción a escala mundial al enfocarnos en un aspecto: la escasez. "Las sociedades no se desarrollan por reducir la corrupción", afirma. "Logran reducir la corrupción porque son desarrolladas".

Traditional thinking on corruption goes like this: if you put good laws in place and enforce them well, then economic development increases and corruption falls. In reality, we have the equation backwards, says innovation researcher Efosa Ojomo. In this compelling talk, he offers new thinking on how we could potentially eliminate corruption worldwide by focusing on one thing: scarcity. "Societies don't develop because they've reduced corruption," he says. "They're able to reduce corruption because they've developed."

The word innovation has become ubiquitous, but it often means different things depending on who you're talking to. In this talk, Efosa Ojomo, co-author of the groundbreaking book, The Prosperity Paradox: How Innovation Can Lift Nations Out of Poverty, will provide a clear categorization which explains the three different types of innovation. He'll explain that innovation is not necessarily something that is high-tech, overly advanced, or even entirely new, and is therefore different from invention. From an economic development standpoint, innovations can be categorized as being market-creating, sustaining, or improving efficiency.His talk will focus on the power of market-creating innovation – innovations which transform complicated and expensive products into products that are simple and affordable – and how they have potential to transform organisations and economies. Market-creating innovations have been the foundation upon which corporations and countries have built new growth engines that have triggered economic prosperity. By leveraging digital technology, some market-creating innovations can scale more quickly today than ever before.

Lagosian is joined by Efosa Ojomo, co-author of the book, The Prosperity Paradox. Efosa discusses his background, how he met Clayton Christensen, and the motivation for the book. He explains why African countries struggle to become prosperous and why corruption is rampant in Africa. He highlights the different phases of corruption in society and what African countries need to do to lift themselves out of poverty including how to harness market-creating innovations and non-consumption.   Follow Lagosian @Lagosianinnyc on Twitter and Instagram. Message me on Twitter or Instagram if you want to be a guest, suggest a topic, or place an advert. Phone:+2349034681246 (Nigeria), +16173839610 (US) Don't forget to subscribe to the podcast on iTunes, GoogleMusic, Spotify, Stitcher, TuneIn or wherever you get your podcasts. Lagosian in New York City is a Qwenu Media production.   

How do nations lift themselves out of poverty? How can entrepreneurs creating lasting impact? What's the difference between a market innovation and a product innovation? Is China REALLY a planned economy? And Capitalism--is it broken?Today, Chris sits down with Efosa Ojomo, co-author of the book "The Prosperity Paradox: How Innovation Can Lift Nations Out of Poverty." They discuss the difference between consumption and non-consumption markets, how innovating in the latter can change entire countries, how we need to start re-thinking global economic development, and why it's time for a new lens with which to view China, the World Bank, the IMF, and basically everything else. Chris also points out that capitalism isn't doing so well in the United States and we should probably do something about that. Read The Prosperity ParadoxFollow Efosa on TwitterRead more of Efosa's writing on MediumAdditional stuff:Book: "The White Man's Burden" by William EasterlyFrom Axios, Article: "Too Much Money (and too few places to put it)"Check us out!Facebook: MondaypodLinkedIn: MondaypodTwitter: @Mondaypod1IG: @Mondaypod

Neither poverty nor prosperity are permanent conditions for societies; poor countries have risen from hardship to wealth within decades. But, by and large, we lack an understanding of how that transformation takes place. In a recent, critically acclaimed book, “The Prosperity Paradox: How Innovation Can Lift Nations Out of Poverty” (HarperBusiness, January 2019), authors Clayton Christensen, Efosa Ojomo and Karen Dillon provide the missing framework. Prosperity, the authors argue, is generated by market-creating innovations – products and services that create consumers where none previously existed – and these which have the potential to not only uplift entire nations from poverty but allow innovative businesses to reap enormous returns on investment and dominate markets for years and even generations to come. In the latest episode of the Minds Worth Meeting podcast, co-author Efosa Ojomo, Senior Research Fellow at the Clayton Christensen Institute for Disruptive Innovation, reveals what constitutes market-creating innovations and how businesses can use them to prosper in unexpected places. Drawing on the examples contained in “The Prosperity Paradox” ranging from the Ford Model T to Tolaram instant noodles, Ojomo offers a blueprint for companies seeking a new way to invest and thrive in frontier markets. Often, according to Ojomo’s framework, the key is not to go where the money already is, but to where it isn’t. Only then can you develop the kind of innovative product or service that transforms the way of life for millions of people – and launches your company to the status of a household name. For more information about “The Prosperity Paradox” and Efosa Ojomo’s work as discussed in this episode, visit the links below: • How Innovative Companies Help Frontier Markets Grow (Harvard Business Review, February 2019) - https://hbr.org/ideacast/2019/02/how-innovative-companies-help-frontier-markets-grow • Want to Foster Prosperity? Focus on Market-creating Innovations (Knowledge at Wharton, February 2019) - https://knowledge.wharton.upenn.edu/article/prosperity-paradox-clayton-christensen/ • “The Prosperity Paradox” Review: A Better Way to Fight Poverty (The Wall Street Journal, January 2019)- https://www.wsj.com/articles/the-prosperity-paradox-review-a-better-way-to-fight-poverty-11548890942#comments_sector • How 1 Company – and Its Insanely Popular and Cheap Noodles – Transformed Nigeria (Inc., January 2019) - https://www.inc.com/leigh-buchanan/clayton-christensen-prosperity-paradox.html • Visit Efosa’s website: https://efosaojomo.com/ • Follow Ojomo on Twitter: @EfosaOjomo Efosa Ojomo is available for speaking engagements and advisory/consulting services through exclusive representation by Stern Speakers, a division of Stern Strategy Group®. For more from Minds Worth Meeting, follow us on social media @sternstrategy, @sternspeakers and visit https://sternstrategy.com/minds-worth-meeting/.

Cecelia Tichi of Vanderbilt University and Author of “What Would Mrs. Astor Do,” on when rules ruled society and Mrs. Astor was queen. Karen Dillon, former editor of Harvard Business Review and Efosa Ojomo of the Christensen Institute on how innovation can lift nations out of poverty. Misan Rewane of West African Vocational Education (WAVE) on tackling Nigeria’s unemployment problem.

Ben & Jay have the unique pleasure of speaking with Karen Dillon, NYT best-selling author and former editor of the Harvard Business Review, about her being in “the front seat of the Clay Christensen experience” through years of collaboration with Clay and some of their incredible colleagues.  Karen may refer to herself as “semi-retired”, but she sounds pretty busy and is having great impact on the world as a co-author of The Prosperity Paradox with Clay and Efosa Ojomo (featured in Episode 40), and as Editorial Director of BanyanGlobal Family Business Advisors.  In addition to talking about The Prosperity Paradox, Karen provides a master class on writing, reflects on her collaboration with Clay and James Allworth on How Will You Measure Your Life, and what it was like to work with Bob Moesta on Competing Against Luck.  Take a “time dash” with the Sherpas and Karen to hear how Clay's theories have evolved – and how they can impact an individual on a personal basis.@KarDillon #ProsperityParadox @CompetingvsLuck #HowWillYouMeasureYourLife@claychristensen @jamesallworth @EfosaOjomo @bmoestaStick around past the closing music for an outtake on how Twitter fulfills a Job to be Done for Karen and Jay.Medium - Why I Hired Twitter - A Sherpa's Guide to Innovation is a proud member of the Health Podcast Network @HealthPodNet -Support the show (https://healthpodcastnetwork.com/)

> Sign Up For Our Newsletter: http://www.firsthuman.com/being-human-newsletter/This week on Being Human, I interview Efosa Ojomo and Karen Dillon, Harvard academics and co-authors with Clayton Christensen of The Prosperity Paradox. We talk:- How some noodle entrepreneurs transformed the retail supply chain in Nigeria- The huge business opportunities represented by non-consumers- How providing cover just from a phone number made a British insurance entrepreneur a fortune while transforming lives in Africa- Why thinking about customers in terms of 'Jobs To Be Done' expands your thinking- Why corruption is a solution!Links:https://www.christenseninstitute.org/https://www.amazon.com/Prosperity-Paradox-Innovation-Nations-Poverty/dp/0062851829

> Sign Up For Our Newsletter: http://www.firsthuman.com/being-human-newsletter/This week on Being Human, I interview Efosa Ojomo and Karen Dillon, Harvard academics and co-authors with Clayton Christensen of The Prosperity Paradox. We talk:- How some noodle entrepreneurs transformed the retail supply chain in Nigeria- The huge business opportunities represented by non-consumers- How providing cover just from a phone number made a British insurance entrepreneur a fortune while transforming lives in Africa- Why thinking about customers in terms of 'Jobs To Be Done' expands your thinking- Why corruption is a solution!Links:https://www.christenseninstitute.org/https://www.amazon.com/Prosperity-Paradox-Innovation-Nations-Poverty/dp/0062851829

> Sign Up For Our Newsletter: http://www.firsthuman.com/being-human-newsletter/This week on Being Human, I interview Efosa Ojomo and Karen Dillon, Harvard academics and co-authors with Clayton Christensen of The Prosperity Paradox. We talk:- How some noodle entrepreneurs transformed the retail supply chain in Nigeria- The huge business opportunities represented by non-consumers- How providing cover just from a phone number made a British insurance entrepreneur a fortune while transforming lives in Africa- Why thinking about customers in terms of 'Jobs To Be Done' expands your thinking- Why corruption is a solution!Links:https://www.christenseninstitute.org/https://www.amazon.com/Prosperity-Paradox-Innovation-Nations-Poverty/dp/0062851829

Michael Fynan calls Efosa Ojomo and Karen Dillon, co-authors on THE PROSPERITY PARADOX. Learn more: https://www.harperacademic.com/book/9780062851826/the-prosperity-paradox.

Master Chef Taichi Kitamura, owner of Sushi Kappo Tamura on the art and culture of sushi in America. Karen Dillon, former editor of Harvard Business Review and Efosa Ojomo of the Christensen Institute on how innovation can lift nations out of poverty. Misan Rewane of West African Vocational Education (WAVE) on tackling Nigeria’s unemployment problem.

Have a simple, affordable product, that you can sell to a non-consumption market. These concepts were wisely brought to you by Efosa Ojomo in the HBR Ideacast: How Innovative Companies Help Frontier Markets Grow Brought to you by FortyFour-Three. Your project done on time. Tools, services and resources for regular people who are responsible for projects. Even if you aren't a professional project manager. www.FortyFour-Three.com

Karen Dillon is the co-author of The Prosperity Paradox with Professor Clayton Christensen and Efosa Ojomo. She is the former editor of the Harvard Business Review and also co-author of the New York Times bestseller “How Will You Measure Your Life?” She was named by Ashoka as one of the world's most influential and inspiring women. Get The Prosperity Paradox now: https://amzn.to/2TdGS16 Watch my Celebrity interviews on my YouTube Channel! Go here> https://goo.gl/EA9x6D Connect with Bert Martinez on Facebook. Connect with Bert Martinez on Twitter.

In today's episode of the Idea to Value Podcast, we speak with Efosa Ojomo, co-author of the new book The Prosperity Paradox: How Innovation Can Lift Nations Out of Poverty, along with Professor Clayton Christensen and Karen Dillon. Check out the full episode at https://www.ideatovalue.com/podc/nickskillicorn/2019/03/podcast-s2e33-efosa-ojomo-how-to-fix-the-prosperity-paradox/  We speak about why charity isn't the most effective way to help countries develop, what most governments and policymakers get wrong about how to help drive prosperity in developing nations, and how these lessons can be applied to your business. Topics covered in today's episode: 00:01:15 - How Efosa got started with innovation, and how a single book changed his life 00:03:30 - Why charity donations aren't effective at helping drive people out of poverty, and how these are called "Push Strategies" of development 00:05:00 - How entrepreneurs in developing nations innovate and create markets, called the "Pull Strategies" of innovation 00:09:00 - Every single country originally came from poverty. Prosperity is a process, and market-creating innovation is the driver 00:11:00 - To create a mindset shift, you need to understand the language and policy impacts of the three types of innovation (sustaining, efficiency & market creating) 00:12:30 - When you invest in efficiency innovations, they usually eliminate jobs 00:15:00 - A case study of where the insurance industry innovated to provide a new product for low-income families, which has now been bought by about 50-60 million people 00:18:00 - How Henry Ford innovated to drive prosperity in the USA, investing in cars before there were roads 00:19:45 - How managers can use these lessons to help their companies innovate, by using examples of returns of investment to explain to executives for the long term growth and viability 00:21:00 - You need different ways of managing innovations in your company, and not use the same metrics as the business as usual Links mentioned in the episode: Buy the Book: The Prosperity Paradox: How Innovation Can Lift Nations Out of Poverty: https://amzn.to/2TbCmQw  The Christensen Institute: https://www.christenseninstitute.org  Efosa's website: https://efosaojomo.com/  Bonus: This episode was made possible by our premium innovation and creativity training. Take your innovation and creativity capabilities to the next level by investing in yourself now, at https://www.ideatovalue.com/all-access-pass-insider-secrets/  * Subscribe on iTunes to the Idea to Value Podcast: https://itunes.apple.com/gb/podcast/idea-to-value-creativity-innovation/id1199964981?mt=2  * Subscribe on Stitcher to the Idea to Value Podcast: http://www.stitcher.com/s?fid=129437&refid=stpr  * Subscribe on Google Play to the Idea to Value Podcast: https://playmusic.app.goo.gl/?ibi=com.google.PlayMusic&isi=691797987&ius=googleplaymusic&apn=com.google.android.music&link=https://play.google.com/music/m/Ifjlz5o2w27yr4wn7belsne26oq?t%3DIdea_to_Value_-_Creativity_and_Innovation%26pcampaignid%3DMKT-na-all-co-pr-mu-pod-16 

Ben & Jay are honored to speak with Efosa Ojomo, Global Prosperity Lead at Clayton Christensen Institute and co-author of The Prosperity Paradox with Dr. Clayton Christensen and Karen Dillon.  Efosa talks about how he came to think that business might be the answer for developing countries, why not all innovations are created equal, and why “pull” strategies can work better than “push” strategies for all stakeholders.  In addition, we discuss how The Prosperity Paradox can inspire and instruct social innovators close to home, even in generally prosperous geographies.@EfosaOjomo @GlobalCCI @christenseninst @HarvardHBS @HBS_Forum #ProsperityParadox@KarDillon @claychristensen@SherpaPod @TheBenReport @JayGerhart #InnovationEngine- A Sherpa's Guide to Innovation is a proud member of the Health Podcast Network @HealthPodNet -Support the show (https://healthpodcastnetwork.com/)

Today we interviewed Efosa Ojomo on his new book "The Prosperity Paradox: How Innovation Can Lift Nations Out of Poverty" which he co-authored with Clayton M. Christensen, and Karen Dillon.

Efosa Ojomo, global prosperity lead at the Clayton Christensen Institute, argues that international aid is not the best way to develop poor countries, nor are investments in natural resource extraction, outsourced labor, or incremental improvements to existing offerings for established customer bases. Instead, entrepreneurs, investors, and global companies should focus on market-creating innovations. Just like Henry Ford in the United States a century ago, they should see opportunity in the struggles of frontier markets, target non-consumption, and create not just products and services but whole ecosystems around them, which then promote stability and economic growth. Ojomo is the co-author of the HBR article "Cracking Frontier Markets" and the book The Prosperity Paradox.

Kelly talks to Efosa Ojomo of the Christensen Institute and Karen Dillon the former editor of the Harvard Business Review about their new book The Prosperity Paradox that they co-authored with the legendary scholar Clayton Christensen. [audio http://serve.castfire.com/audio/3594296/efosa-ojomo-and-karen-dillon_2019-02-08-174236.64kmono.mp3]

Efosa Ojomo of the Clayton Christensen Institute discusses his experience in developing international projects for prosperity, and shares insights into how theories, disruptive innovation and different strategies help us develop projects that can lift nations out of poverty.

The world’s most respect business professor, Clayton Christensen and the co-author of their new book Efosa Ojomo share about the Prosperity Paradox and how innovation can lift nations out of poverty.

Efosa Ojomo and Karen Dillon, co-authors with Clayton Christensen on The Prosperity Paradox: How Innovation Can Lift Nations Out of Poverty, discuss the story behind their newly-released book, what it’s like to collaborate with Clay, and the substance of The Prosperity Paradox, in which they address the question, “Where does true and lasting prosperity come from?” With an eye towards low income countries, the conversation touches on different types of innovation, non-consumption, push versus pull strategies, a new way of thinking about infrastructure, business model development, and their framework for economic growth based on market-creation innovation and entrepreneurship.

In the latest episode of Africa State of Mind with Lee Kasumba, Efosa Ojomo, research fellow at the Clayton Christensen Institute for Disruptive Innovation and founder and president of Poverty Stops Here talks about possible ways of eradicating poverty. 

If nonconsumption were a company in Nigeria (or any other emerging market), it would almost certainly have a monopoly in many of the country's major industries. Yet investors and multinational companies often wait until there is a proven market before they are willing to invest. Senior researcher Efosa Ojomo published an article in Emerging Markets Business Review on this paradox, and in this episode offers tips on how to spot opportunities that seem uninteresting to many, but in fact offer the greatest potential for impact and exponential upside for the savvy investor.

Agriculture was once the leading industry in Nigeria, but decades of mismanagement caused the industry to decline. Today, the nation which once had a promising export crop business must import food in order to support its explosive population. Over the last decade, the Nigerian government has chosen to focus many of its resources on natural gas and oil production, which today accounts for more than 98% of export earnings even though it only accounts for less than 3% of the world's oil supply. In this episode of the Disruptive Voice, senior researcher Efosa Ojomo talks with Folusho Olaniyan, former Managing Director, United Trading Company (UTC) Nigeria Plc and CEO of Contact Consulting Nigeria, about what needs to change in order for Nigeria's agriculture industry to be rebuilt into a sustainable and successful enterprise.

The World Bank was founded in 1944 to facilitate post-war Reconstruction and today has grown to encompass five affiliated institutions dedicated to eradicating poverty worldwide. In this episode of the Disruptive Voice, senior researcher Efosa Ojomo uses the theories of BSSE to describe how the very same structures that allow the World Bank to have its extraordinary reach also constrain it from being able to fund or support other types of initiatives.

63.2 million people in Nigeria don’t have safe access to water. A common response to this statistic is to want to give these people access to safe water — which is exactly what inspired Efosa Ojomo to co-found Poverty Stops Here, a nonprofit organization whose mission is to provide access to clean water and sanitation resources, micro-loans to help start a new or expand a current business, and education/health initiatives for children in Nigeria. But despite all of the research on development that Efosa had done prior to starting this nonprofit, things didn’t go exactly as planned.