Purpose: This article examines the strategic actions of multinational corporations (MNCs) in creating social value at the base of the pyramid (BoP), providing insights into novel business models (BMs) and tactics employed for poverty alleviation. Design/methodology/approach: This conceptual article links three relevant pieces of literature – creating shared value (CSV), the three-value creation logic and the three core values of social development – to analyze the current research and real-world examples of MNCs implementing the BoP BMs. Findings: The article identifies four strategies and 11 tactics used by MNCs to adapt BMs elements (value proposition, value constellation and value capture) and generate social value at the different levels (coverture of basic needs, self-esteem and freedom from servitude) by following the distinct value creation logics (chain, shop and network). Originality/value: This article provides a conceptual framework that links relevant literature and sheds light on the strategic actions that MNCs apply in their BMs to tackle the multidimensionality of poverty in the BoP markets.