Abstract

Anchored in the current controversy around the role of multinational enterprises (MNEs)in promoting base of the pyramid (BoP)initiatives in developing nations, this paper analyzes the evolution and changes in BoP approaches associated with the roles of MNEs and domestic business ventures at the BoP, applying both value-commitment and profit-making theoretical lenses. Despite the practical importance of BoP initiatives and the special role assigned to the MNEs involved, the literature shows a lack of established theoretical knowledge on the topic. This paper presents a review of the existing research on management studies, industrial marketing, strategies and related disciplines, and offers three main contributions. First, it provides a categorization of the literature into four approaches to BoP: 1.0 – ‘finding fortune’ at BoP; 2.0 – ‘creating fortune’ at BoP; 3.0 – ‘sharing fortune’ with BoP; and 4.0 – ‘enabling fortune’ with BoP. Second, it analyzes each of these BoP approaches by applying value-commitment and profit-making theoretical lenses, highlighting a persistent interactive tension between these perspectives and synthesizing the results into an integrative framework. Third, it offers a comprehensive agenda for future research and elaborates on the implications for business-to-business (B2B)research. © 2019