Protocol Principles
To better ensure that the Protocol achieves its objective of generating mutual benefit, a set of business principles is expected to guide the MNC’s engagement with the BoP community. These business principles are stated at the beginning of the Protocol in the form of Operating Guidelines and a Code of Conduct.
“Operating Guidelines”
- Suspend Disbelief – willingness to admit ignorance
- Put the Last First – seek out the voices seldom heard
- Show Respect and Humility – all parties have something important to contribute
- Accept and Respect Divergent Views – there is no one best way
- Recognize the Positive – people that survive on $1 per day must be doing something right
- Co-Develop Solutions – mutual learning among MNCs, partners and BoP members
- Create Mutual Value – all parties must benefit in terms important to them
- Start Small – begin with small pilot tests and scale out in modular fashion
- Be Patient – it takes time to grow the ecosystem and win the trust before the business takes off
“Code of Conduct”
- Design businesses that increase earning power, remove constraints, and build potential in the BoP
- Ensure that wealth generated by the business is shared equitably with the local community
- Utilize only the most appropriate – and sustainable – technologies
- Promote the “development” of affected communities as broadly as possibly in ways that defined by local people themselves
- Track the “triple bottom line” impacts associated with the entire BoP business system
- Monitor and address any unintended negative impacts associated with the business model
- Share best practices with local partners to the extent possible
- Report transparently and involve key stakeholders in on-going dialogue
- Commit to increase community value regardless of the business outcome