HBR Blog: Market Literacy - a Reverse Innovation Opportunity?
The phrase "marketplace literacy" refers to the skills, self-confidence, and awareness of rights that both entrepreneurs and consumers need to be competent in in a business setting. It's also the name of a program designed to provide those skills. The idea of providing training in marketplace literacy started in subsistence contexts in urban and rural South India.
The rationale is simple: such literacy, along with access to markets and financial resources, can enable impoverished individuals to participate effectively in the marketplace.
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