TEAM- CURIOSITY

KUMAR THAPA
SOURAV KR.GHATAK
NILANJAN ORANG
SWADHEN MATHUR
DILIP THAPA
GAURAV ANUJ
SANKET SAGATHIYA
HARSH PATEL
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.
CONTENTS
INTRODUCTION
BIOGRAPHY
CONTRIBUTION TO MANAGEMNET
HONOURS AND AWARDS
VISION
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.


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
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



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.
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

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.

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.
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 targetsvast
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 buyersthose 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

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

CORE COMPETENCE OF THE
CORPORATION
This paper was undoubtedly their landmark paper. This paper
marked a fundamental departure from theoutside 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.
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 worlds 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.

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.

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