seminar on c k prahalad

AJAY CHOUDHARYMBA FS DMS (JNVU)

CONTENT

Early Life 1990 - Core Competence of

Corporations 1994 - Competing for the Future 2004 - The Future of Competition 2005 – The Fortune of Bottom of

Pyramid Award and Honors Vision and Help for India Q&A Session Department of Management Studies, JNVU

EARLY LIFE

Full Name - Coimbatore Krishnarao Prahalad Born - Coimbatore, Tamil Nadu Graduation - In Physics from University of Madras PG Diploma - IIM Ahmadabad Doctorate - Business Adm. from Harvard Business

School in 1975 Work - Stephan M Ross school of business at the

University of Michigan as assistant professor and worked there for 30+ years at various designations.

Department of Management Studies, JNVU

The Core Competence of Corporation

An article for Business Harvard Review in 1990, Co-authored by Gary Hamel.

Centre Idea – A harmonized combination of multiple resources and skills that distinguish a firm in the market place.

Impact – Encouraged corporate executives to “ identify, cultivate, exploit the core competencies that make growth possible”.

Relation – It is related to a firm’s product portfolio via core products which contributes to the “Competitiveness of a wide range of end products”.


Fig. 1.1 - A diversified core competence of a company as a tree.


Competing for the Future The book was published in 1994 and co-authored

by Gary Hamel. Centre Idea – This book analyzed how established

market leaders tend to loose group to innovative upstarts.

example – IBM to Apple. Prime Focus – To shift focus from feasible in short

term to what is possible in long term, reengineering to process to reinventing industries , reducing overheads to regenerating strategies and focus on core strength as a route to future strategies.

Message – Think beyond Restructuring.Department of Management Studies, JNVU

How to sustain Leadership? TODAY FUTURE

Which customers do you serve today?

Through what channels do you reach your customers today?

Who are your competitors today?

What skills and capabilities make you unique today?

Which customers will you serve in the future?

Through what channels will you reach the customers in future?

Who will be your competitors in the future?

What skills and capabilities will make you unique in the future?Department of Management Studies, JNVU

The Future Of Competition This book was released in 2004 by C.K. Prahalad

and co-authored by Venkat Ramaswamy . Centre Idea – This book and theory advancing

the notion of CO-CREATION and envisioning a world where business and consumers are collaborated in designing products and services for greater customization.

Co-creation – It is a management initiative, or form of economic strategy, that brings different parties together, in order to jointly produce a mutually valued outcome.

Example – Nike giving customers online tools to design their own sneakers.


The four building blocks

Terms Managerial Implication

Dialogue Two-way connection instead of one-way selling strategy.

Access Create value with customer; beyond traditional value chain process and allow customer to access the data.

Risk Share the risk of product development with guest through communication.

Transparency Information barriers should be eliminated to certain degree in order to gain trust from guest.


Bottom of the Pyramid Meaning – “Bottom of the Pyramid” is used in

particular by people developing new models of doing business that deliberately target that demographic often using new technology.

Centre Idea – Book/Theory states that how businesses might pursue sustainable growth while playing a role in alleviating poverty.

Message – C.K. Prahalad proposes that businesses, governments, and donor agencies should stop thinking of the poor as victims and instead start seeing them as resilient and creative entrepreneurs as well as value demanding consumers.


Award and Honors CK was twice ranked the world’s most influential

business thinkers in 2007 and 09, by the “THINKERS 50”

PADMA BHUSHAN Mackinsey prize for his article in business review. He was the first recipient of LAL BAHADUR

SHASHTRI AWARD for excellence in management. Distinguished University Professor award in 2005

– the University of Michigan’s highest distinction. Faculty pioneer lifetime achievement award from

the Aspen Institute for contributions to social and environmental stewardship.


VISION and ASPIRATIONS

UIDAI - Aadhar Card INDIA @ 75 500 Million Skilled technicians. 200 Million trained graduates. 500 New cities in India. At least 30 of FORTUNE 100 firms

should be from India.


seminar on c k prahalad

Leadership & Management