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C.K. Prahalad heralds a new era of innovation

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Abstract:

Purpose – This interview of C.K. Prahalad, one of the world's leading strategic thinkers, aims to offer corporate leaders a practical look at the radical concepts presented in his The New Age of Innovation (HBP, 2008), written with M.S. Krishnan. A lengthy review of the book is also in this issue.

Design/methodology/approach – The questions for this interview were researched by a team of Strategy & Leadership contributing editors. The interview was conducted by Robert J. Allio, a consultant who has previously been a senior executive at major US and Canadian corporations and a business school dean.

Practical implications – Prahalad believes that many businesses will undergo a transformation in the near future as value shifts from offering products to providing co-created personalized experiences.

Originality/value – Because his new ideas explore the cutting-edge of management innovation, managers will likely appreciate having Prahalad explain how his new model works. It posits that value will be determined by one customer co-created experience at a time, defined as n=1; and to compete successfully in this environment, firms must access resources from multiple outside sources, either local or global, defined as R=G. In this interview he discusses the practical steps needed to ready a company to compete in this new business landscape.

Keywords:

Continuous improvement, General management, Innovation, Networking, Outsourcing, Social groups

Article Type:

Viewpoint

Article URL:

www.emeraldinsight.com/10.1108/10878570810918304

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