C.K PRAHALAD CONTEMPORARY MANAGEMENT THINKERS

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  C.K PRAHALAD
  CONTEMPORARY MANAGEMENT THINKERS
  REVISION FOR COMPETITIVE SERIES
  
  
• C.K PRAHALAD

1. COIMBATORE KRISHNARAO PRAHALAD(8^TH AUGUST,1941 TO 16 TH APRIL 2010)
2. POST GRADUATE FROM IIM AHMADABAD
3. DISTINGUISHED PROFESSOR OF CORPORATE STRATEGY AT THE STEPHEN M ROSS SCHOOL OF BUSINESS IN THE UNIVERSITY OF MICHIGAN,USA
4. HIS NATIONALITY WAS INDIAN AMERICAN
5. MAJOR CONTRIBUTION TO THE MGMT: CORE COMPETENCIES OF THE ORGANIZATION AND THE IDEA OF LOOKING AT POOR AS SOURCE OF PROFIT THAN AN OBJECT OF CHARITY
6. ACADEMICIAN AS WELL AS PRACTITIONER
7. INITIAL YEARS OF HIS CAREER CO FOUNDED AND BECAME CEO OF PRAJA INC
8. HAD GOALS OF PROVDING UNRESTRICTED ACCESS TO INFORMATION AT THE BOTTOM OF THE PYRAMID BUT THE VENTURE WAS UNSUCCESSFUL AND SOLD TO TIBCO
9. IN 2004,CO FOUNDED MGMT CONSULTANCY “ THE NEXT PRACTICE” TO SUPPORT COMPANIES IN IMPLEMENTING THE STRATEGIES OUTLINES IN THE FORTUNE AT THE BOTTOM OF PYRAMID

• ACHIEVEMENTS
• CO AUTHOR OF A NUMBER OF WORKS IN CORPORATE STRATEGY

1. THE CORE COMPETENCY OF THE CORPORATION WITH GARY HAMEL(1990)
2. COMPETING OF THE FUTURE WITH GARY HAMEL(1994)
3. THE FUTURE OF COMPETITION WITH VENKAT RAMASWAMY(2004)
4. THE FORTUNE AT THE BOTTOM OF THE PYRAMID: ERADICATING POVERTY THROUGH PROFITS WITH STUART L HART ( 2004)
5. THE NEW AGE OF INNOVATION WITH M.S KRISHNA(2008)
6. HE COAUTHORED INNOVATION HOLY GRAIL WITH R.A MASHELKAR( CHOSEN AS TOP 10 ARTICLES ON INNOVATION

• HONOURS AND AWARDS

1. FIRST RECIPIENT OF LAL BAHADUR SHASTRI AWARD FOR CONTRIBUTION TO MGMT AND ADMINISTRATION IN 1999
2. MAURICE HOLLAND AWARD IN 1994 FROM THE INDUSTRIAL RESEARCH INSTITUTE FOR THE ARTICLE THE ROLE OF CORE COMPETENCIES IN THE CORPORATION
3. PRAVASI BHARTTIYA SAMMAAN IN 2009
4. ALSO GOT PADMA BHUSHAN IN 2009
5. IN 2009,NAMED THE WORLD’S MOST INFLUENTIAL BUSINESS THINKERS ON THE THINKERS 50.COM
6. ALSO AWARDED HERBERT SIMON AWARD
7. IN 2010.VIPURI INTERNATIONAL PRIZE IN STRATEGIC MGMT AND BUSINESS ECONOMICS

• MAJOR CONTRIBUTION
• IDEA OF CORE COMPETENCY:-HE SUGGESTED THE IDEA OF CORE COMPETENCIES
• HE COMPARED THE DIVERSIFIED COMPANY AS TREE,MAJOR LIMBS AS CORE PRODUCTS,SMALLER BUSINESS AS BRANCHES AS BUSINESS UNITS,LEAVES AND FRUITS AS END PRODUCTS AND THE ROOT SYSTEM WHICH NOURISHES AND STABILIZES ALL THINGS AS CORE COMPETENCIES
• EXPLAINED THE CONCEPT OF CORE COMPETENCIES BY REFERRING TO THE DIVERSIFIED GIANT NEC THAT COMPETED IN OSTENSIBLY DIVERGENT BUSINESS
• HE BELIEVED THAT WHILE DEVELOPING A STRATEGY COMPANIES SHOULD CONCENTRATE ON THEIR CORE COMPETENCIES
• EACH COMPANY CAN HAVE ONE OR MORE COMPETENCIES BUT THE COMPETENCY THAT CREATES A DISTINCTION BETWEEN THE COMPANY AND ITS COMPETITORS IS CONSIDERED TO BE THE IDEAL CORE COMPETENCY
• CORE COMPETENCY
• GARY HAMEL AND HE INTRODUCED THE CONCEPT OF CORE COMPETENCY IN 1990 IN THE ARTICLE TITLED .” THE CORE COMPETENCE OF THE CORPORATION
• FOR AN ORGANIZATION TO BE COMPETITIVE IT NEED NOT ONLY TANGIBLE RESOURCES BUT INTANGIBLE RESOURCES LIKE CORE COMPETENCIES THAT ARE DIFFICULT AND CHALLENGING TO ACHIEVE
• A HARMONIZED COMBINATION OF MULTIPLE RESOURCES AND SKILL THAT DISTINGUISH A FIRM IN THE MARKET PLACE

• CORE COMPETENCY RESULT FROM A SPECIFIC SET OF SKILLS OR PRODUCTION TECHNIQUES THAT DELIVER VALUE TO CUSTOMER
• CRITERIA OF CORE COMPETENCY:-

1. POTENTIAL ACCESS TO WIDE VARIETY OF MARKETS
2. MAKE A SIGNIFICANT CONTRIBUTION TO THE PERCEIVED CUSTOMER BENEFITS OF THE END PRODUCT
3. DIFFICULT TO IMITATE THE PRODUCT
4. DEVELOPMENT OF CORE PRODUCTS WHICH FURTHER CAN BE USED TO BUILD MANY PRODUCTS TO END USERS
5. CONTINUOUS IMPROVEMENT
6. COMPETENCE BUILDING

• BOTTOM OF THE PYRAMID:-

1. ELABORATED THE IDEA OF BOP IN AN INTERVIEW AND BOOK_ THE FORTUNE AT THE BOTTOM OF THE PYRAMID
2. BELIEVED THAT TRADITIONAL METHODS SUCH AS HIGHER SALES AND LOWER MARGIN CAN BE USED BUT OTHER METHODS ALSO EXPLORING BOP
3. FOCUSED ON THE NOTION OF EXPLORING BOP BY WORKING BACKWARD FROM WHAT ARE THE CUSTOMERS ARE WILLING TO SHELL OUT FOR THE PRODUCT AND THEN WORK ON THE COSTS BY KEEPING THE AMOUNT IN CONSIDERATION

• STRATEGIC INTENT:- IN THEIR ARTICLE ,” STRATEGIC INTENT GARRY HAMEL AND CK PRAHLAD
• STRATEGIC INTENT IS NOTHING BUT A DREAM OR AN AIM THAT MOTIVATES AND PROVIDES ENERGY TO THE ORGANIZATION TOWARDS SUCCESS
• STRATEGIC INTENT COMPRISE OF THREE THINGS

1. SENSE OF DIRECTION
2. SENSE OF DISCOVERY
3. SENSE OF DESTINY

• CONCEPT OF COOPERATION:- DEVELOPED WITH THE HELP OF VENKAT RAMASWAMY IN THE BOOK THE FUTURE OF COMPETITION IN 2004
• SUGGESTED THAT THE CUSTOMERS SHOULD BE INVOLVED IN EVERY STEP OF THE VALUE CHAIN OF THE PRODUCT OFFERED BY A COMPANY:-

1. DESIGN
2. FUNCTIONALITY
3. SERVICE ETC

• IT WILL GIVE NEW EXPERIENCE TO THE CUSTOMER
• THE COMPANY SHOULD ALSO BE WILLING TO LET THE CUSTOMERS BE ABSOLUTELY INVOLVED AND ACCESS INFORMATION ALONG WITH A HIGH DEGREE OF TRANSPARENCY