Er. Nagendra Nath Mahapatra
World famous management guru C.K Prahlad passed away on 17th April, 2010. He was 68.
Over last three decades CK launched radical new ideas which later became conventional wisdom in the world of management. Here is a brief note:
1. With Gary Hamel, he wrote ‘the core competence of the corporation’ and developed the unconventional concept of ‘core competence’ in 1990.
2. In 1994, again with Gary Hamel he authored ‘competing for the future’ advocating that the future of business lies in taking quantum leaps of faith and reorganizing the employees to think out-of-box strategy for implementation.
3. With Venkat Ramswamy in 2004 he wrote the legendary book ‘the future of competition’ where he explained the process of “co-creation” Because in the new world of interconnected business ,the consumers and the firm must jointly create value .
4. In 2006, he published ‘the fortune at the bottom of the pyramid ‘ and challenged global business to consider co-creating products and services serving billions of poor consumers which would open up whole new set of opportunities for business.
5. With M.S.Krishnan in 2008 he authored ‘the new age of innovation’ explaining how to make innovation works for a company.
6. C.K has rightly said that his works centered around four areas: globalization, role of connectivity, inclusive growth and sustainability.
7. CK’ s BOP theory is adopted by Tata for designing Ginger Hotels in 21 cities of India, NANO, Tata SWATCH (water filter) and Tata Housing (low cost residential apartments). CK himself implemented two new business models targeted to the poorest in Arvind Eye Hospital & HUL’s Project Shakti.Cavincare practiced BOP doctrine & became pioneer of low cost sachets in shampoos. .Prof. R.Mazumdar of IIM Kolkatta says that the cell phone revolution & sachet revolution in India validate BOP theory of CK.
8 On India, he said, “I see nothing but opportunities. If India can leverage its diversity and harmonize the talents available, then 30 of top Fortune 500 companies will emerge from India & 10 Nobel Prize winners.
CK is dead but his ideas will long resonate around the world.
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