239602536-C-K-Prahalad-Assignment.pptx

A brief Discription On C.K Prahalad

1. TEAM- CURIOSITY KUMAR THAPA SOURAV KR.GHATAK NILANJAN ORANG SWADHEN MATHUR DILIP THAPA GAURAV ANUJ SANKET SAGATHIYA HARSH PATEL

2. C K prahalad Born- 8 August 1941 Coimbatore , Tamil Nadu , India Died-16 April 2010 (aged 68 ) San Diego , California , U.S Alma mater Loyola College, Chennai , IIM Ahmedabad , Harvard Business School .

3. CONTENTS INTRODUCTION BIOGRAPHY CONTRIBUTION TO MANAGEMNET HONOURS AND AWARDS VISION

4. INTRODUCTION The late C.K. Prahalad was more than an academic; he was one of the foremost business thinkers of our time . He was ranked as one of the most prominent business thinkers in the world. He was Distinguished University Professor of Corporate Strategy at the Stephen M. Ross School of Business in the University of Michigan . He was renowned as the co-author of " Core Competence of the Corporation “ (with Gary Hamel ) and "The Fortune at the Bottom of the Pyramid " (with Stuart L. Hart ). He was genuine thought-leaders in the business world who have created truly earth-shaking ideas; C K Prahalad of the University of Michigan , who passed away at the age of 69, was a giant of that kind . Before he died he left a large body of work behind.

5. BIOGRAPHY C K Prahalad was the ninth of eleven children born in 8 August 1941 in to a  Kannada  speaking family in  Coimbatore ,  Tamil Nadu . His father was a well-known  Tamil  scholar and judge in  Chennai . B.Sc degree in Physics from  Loyola College, Chennai , part of the  University of Madras . He did his post graduate work in management at the  Indian Institute of Management Ahmedabad . At  Harvard Business School , graduating with a  D.B.A.  degree in 1975. He was died in 16 April 2010(aged 68) San Diego, California, U .S

6. CONTRIBUTION TO MANAGEMENT WRITINGS The fortune at the bottom of the pyramid: Eradicating poverty through profits The future of competition: co-creating unique value with customers The new age of innovation: driving cocreated value through global networks The end of corporate imperialism: (Harvard Business review classics) Core competence of the corporation

7. The fortune at the bottom of the pyramid: Eradicating poverty through profits The concept of The Fortune at the Bottom of the Pyramid by C. K. Prahalad and Stuart L. Hart , discusses new business models targeted at providing goods and services to the poorest people in the world. It makes a case for the fastest growing new markets and entrepreneurial opportunities being found among the billions of poor people 'at the bottom of the pyramid'. suggests replacing traditional notions of government- channeled aid with a new model for relieving poverty and stimulating development. The new model relies on profit-making businesses, especially multinational corporations (MNCs). The MNCs have an economic incentive to tap the great market that exists, all but hidden, at the bottom of the economic pyramid.

8. The future of competition: co-creating unique value with customers The author speaks about structural changes brought about by the convergence of industries and technologies; ubiquitous connectivity and globalization; and, as a consequence, the evolving role of the consumer from passive recipient to active co-creator of value . Managers need a new framework for value creation. Thus the focus of innovation will shift from products and services to experience environments that individuals can interact with to co-construct their own experiences. These personalized co-creation experiences are the source of unique value for consumers and companies alike. This book presents a detailed view of the new functional, organizational, infrastructure, and governance capabilities that will be required for competing on experiences and co-creating unique value

9. The new age of innovation: driving co-created value through global networks Prahalad and Krishnan outline their central thesis; that there are new managerial demands in business, requiring new sources of value creation . They argue that these demands have created an N=1 and R=G environment, where companies need to customize their product for each customer by gaining access to a new array of suppliers . He describes that the old sources of competitive advantage -technology, labor , and capital – are fading and that new sources are emerging. They suggest an internal capacity to reconfigure resources in real time by focusing on clearly documented, transparent, and resilient business processes(the link between strategy, business models and operations) has become a strong differentiator. They also argue that a focus on co-creation, by developing an R=G supply network and emphasizing analytics which identify trends and unique opportunities can create a strong competitive advantage. The technical architecture required to develop these flexible and resilient business processes and strong analytics capabilities is outlined in the book.

10. the book describes typical problems that occur when migrating to an N=1 and R=G friendly system. Prahalad and Krishnan emphasize the importance of a social architecture with stronglinkages between managers and the technical architecture. They also outline the necessity for companies to recruit new skills from around the world and use globalization to its advantage.

11. The end of corporate imperialism When large Western companies rushed to enter emerging markets 20 years ago, they were guided by a narrow and often arrogant perspective. They tended to see countries like China and India simply as targets—vast agglomerations of would-be consumers hungry for modern goods and services. C.K. Prahalad and Kenneth Lieberthal call this view “corporate imperialism,” and they show how it has distorted the operating, marketing, and distribution decisions multinationals have made in serving developing countries.These companies have tended to gear their products and pitches to small segments of relatively affluent buyers—those who, not surprisingly, most resemble the prototypical Western consumer. They have missed, as a result, the very real opportunity to reach much larger markets further down the socioeconomic pyramid. Succeeding in these broader markets requires companies to spend time building a deep and unbiased understanding of the unique characteristics and needs of developing countries and their peoples. But such time is well spent. Not only will it unlock new sources of revenue, it will also force big companies to innovate in ways that will benefit their operations throughout the world. As they search for growth, multinational corporations will have to compete in the big emerging markets of China, India, Indonesia, and Brazil. The operative word is “emerging.” A vast consumer base of hundreds of millions of people is developing rapidly. Despite the uncertainty and the difficulty of doing business in markets that remain opaque to outsiders, Western MNCs will have no choice but to enter them

12. The book draws comparison between spending habits of Americans v/s India , China , Brazil and Indonesia .

13. CORE COMPETENCE OF THE CORPORATION This paper was undoubtedly their landmark paper. This paper marked a fundamental departure from the”outside to inside” thinking of traditional business policy thinkers, who started with the environment, and went on to “fit “ the organizations ‘ strengths and weakness to it. The concept of core competencies challenged the managers to view their firms as a portfolio of competencies rather than as a portfolio of businesses.

14. HONORS AND AWARDS In 2009, he was awarded Pravasi Bharatiya sammaan . In 2009, he was conferred Padma Bhushan ‘third in the hierarchy of civilian awards’ by the Government of India. In 2009, he was named the world’s most influential business thinker on the Thinkers50.com list, published by The Times. In 2009, he was awarded the Herbert simon Award by the Rajk Laszlo Collage for Advanced Studies( Corvinus University of budapest ). In 2011, the Southern Regional Headquarters of Confederation of Indian Industry (CII) was named as Prof CK Prahalad Cente .

15. MY VISION FOR INDIA Build a skilled manpower; 500 million quality tachnicians ; 200 million graduates. India becomes the home for 30 of the Fortune 500 firms. India accounts for 10 percent of the global trade. India becomes a source of global innovations. It derives new models from the Bottom of the Pyramid. Ten Nobel Prize winners by 2022. India becomes the new moral force for people around the world.

16. C K PRAHALAD Be concerned about due process. People seek fairness – not favours . They want to be hard. They often don’t even mind if decisions don’t go their way as long as the process is fair and transparent.