If there is a list being compiled on the top management gurus, the most influential thinkers, or even the most influential management gurus, you can be sure C K Prahalad will feature on it.
The Paul and Ruth McCracken distinguished university professor of strategy at University of Michigan's Ross School of Business, Prahalad is also a bestselling author of important books like Competing for the Future (with Gary Hamel), The Future of Competition and The Fortune at the Bottom of the Pyramid (with Venkat Ramaswamy).
Each of these books proposed powerful ideas relating to corporate strategy, business processes and people. The New Age of Innovation is no different.
Prahalad's latest book, which will be released later this month, suggests that the nature of innovation is changing. As the world flattens, company- and product-centric ideas must give way to strategies that reinvent business processes to leverage resources on a global scale.
"The need for enabling unique and contextual experience from each customer (N=1) will shape the demand for rapid reconfiguration of resources, ideas, and talent globally (R=G). . . . N=1 and R=G will be the basis for innovation and value creation. This trend is happening faster than anyone expected. We believe that by 2015 to 2020, in a very short period of 7 to 12 years, this transformation will not be big news. It will increasingly be the norm in many industries," predict Prahalad and co-author M S Krishnan in the book. Read on. . .
The New Age of Innovation
Authors: C K Prahalad and M S Krishnan
Publisher: McGraw-Hill; Pages: 304
Price: Rs 695
Reproduced with permission
Image: C K Prahalad and M S Krishnan (inset) say that the nature of innovation is changing in their latest book The new age of Innovation.
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