Private Innovation in the Public Interest
Professor Audra Wormald of the University of North Carolina’s Keenan-Flagler Business School left a promising career in intellectual-property analysis and consulting to study innovation in the business of banking. She wrote her PhD thesis on the ways in which local companies in developing markets were more effective than multinational banks in serving low-income customers, particularly in Tanzania. In this conversation with Anita, Audra discusses how entrepreneurs in low-income settings respond with resilience and insight to the opportunities before them. This is about more than only economics. It’s about the psychological benefits to the entrepreneur of self-efficacy.A
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