C. K. Prahalad
|C. K. Prahalad|
Prahalad on Nov 8, 2009, at World Economic Forum's India Economic Summit 2009.
8 August 1941|
Coimbatore, Tamil Nadu, India
|Died||16 April 2010
San Diego, California, U.S.
|Alma mater||Loyola College, Chennai
Harvard Business School
|Children||Murali Krishna, Deepa|
Coimbatore Krishnarao Prahalad (Kannada:ಕೋಯಮ್ಬತುರೆ ಕೃಷ್ಣರಾವ್ ಪ್ರಹಲಾದ್) (8 August 1941 – 16 April 2010) was the Paul and Ruth McCracken Distinguished University Professor of Corporate Strategy at the Stephen M. Ross School of Business in the University of Michigan. During his life, he was frequently ranked as one of the most prominent business thinkers in the world.
Prahalad was the ninth of eleven children born in 1941 in to a Kannada speaking family in Coimbatore, Tamil Nadu. His father was a well-known Tamil scholar and judge in Chennai. At 19, he joined Union Carbide, he was recruited by the manager of the local Union Carbide battery plant after completing his B.Sc degree in Physics from Loyola College, Chennai, part of the University of Madras. He worked there for four years. Prahalad called his Union Carbide experience a major inflection point in his life. Four years later, he did his post graduate work in management at the Indian Institute of Management Ahmedabad.
Professorship and teaching
After graduating from Harvard, Prahalad returned to his master's degree alma mater, the Indian Institute of Management Ahmedabad. But he soon returned to the United States, when in 1977, he was hired by the University of Michigan's School of Business Administration, where he advanced to the top tenured appointment as a full professor. In 2005, Dr. Prahalad earned the university's highest distinction, Distinguished University Professor.
Writings, interests, and business experience
In the earlier days of Prahalad's fame as established management guru, in the beginning of the 90's, he advised Philips' Jan Timmer on the restructuring of this electronic corporation, then on the brink of collapse. With the resulting, successful, 2–3 year long Operation Centurion he also frequently stood for the Philips management troops.
C. K. Prahalad is the co-author of a number of well known works in corporate strategy, including The Core Competence of the Corporation (with Gary Hamel, Harvard Business Review, May–June 1990) which continues to be one of the most frequently reprinted articles published by the Harvard Business Review. He authored or co-authored several international bestsellers, including: Competing for the Future (with Gary Hamel, 1994), The Future of Competition (with Venkat Ramaswamy, 2004), and The Fortune at the Bottom of the Pyramid: Eradicating Poverty through Profits (Wharton School Publishing, 2004). His last book, co-authored by M. S. Krishnan and published in April 2008, is called The New Age of Innovation.
Prahalad was co-founder and became CEO of Praja Inc. ("Praja" from a Sanskrit word "Praja" which means "citizen" or "common people"). The goals of the company ranged from allowing common people to access information without restriction (this theme is related to the "bottom of pyramid" or BOP philosophy) to providing a testbed for various management ideas. The company eventually laid off 1/3 of its workforce and was sold to TIBCO. In 2004, Prahalad also co-founded the boutique management consultancy, The Next Practice, to support companies in implementing the strategies outlined in The Fortune at the Bottom of the Pyramid. The company continues in operation today. At the time of his death, he was still on the board of TiE, The Indus Entrepreneurs.
Prahalad has been among top ten management thinkers in every major survey for over ten years. Business Week said of him: "a brilliant teacher at the University of Michigan, he may well be the most influential thinker on business strategy today." He was a member of the Blue Ribbon Commission of the United Nations on Private Sector and Development. He was the first recipient of the Lal Bahadur Shastri Award for contributions to Management and Public Administration presented by the President of India in 1999.
Honors and awards
- In 1994, he was presented the Maurice Holland Award from the Industrial Research Institute for an article published in Research-Technology Management titled "The Role of Core Competencies in the Corporation."
- 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 László College for Advanced Studies (Corvinus University of Budapest).
- In 2010, he was posthumously awarded the Viipuri International Prize in Strategic (Technology) Management and Business Economics by Lappeenranta University of Technology.
- In 2011, the Southern Regional Headquarters of Confederation of Indian Industry (CII) was named as Prof C K Prahalad Center
- Notable Alumni: Dr. C K Prahalad. IIMA USA Chapter.
- Stern, Stefan (April 19, 2010). "Manifesto writer for business survival". Financial Times.
- "Management guru C K Prahalad dead". Deccan Herald. 17 April 2010. Retrieved 24 April 2012.
- Prahalad, C.K.; Hamel, Gary (May 1990). "Core Competence of the Corporation". Harvard Business Review (Harvard Business Publishing).
- Prahalad, C.K.; Hart, Stuart L. (2002). "The Fortune at the Bottom of the Pyramid". strategy + business (Booz Allen Hamilton Inc.).
- Stern, Stefan (19 April 2010). "Manifesto writer for business survival". Financial Times.
- "C. K. Prahalad, Proponent of Poor as Consumers, Dies at 68". New York Times. 21 April 2010. Retrieved 11 June 2012.
- Professor C.K. Prahalad
- Schumpeter (24 April 2010). "The guru of the bottom of the pyramid". The Economist.
- Prahalad, C.K. “The Role of Core Competencies in the Corporation," Research-Technology Management, Vol. 36, No. 6 (November–December 1993), pp. 40-47.
- "The NRIs who made India feel proud". Rediff. Retrieved 24 April 2012.
- "C K Prahalad voted as most influential mgmt thinker". Business Standard. 14 October 2009. Retrieved 24 April 2012.
- "Viipuri Prize goes posthumously to world-renowned Professor C.K. Prahalad". Lappeenranta University of Technology. 16 November 2010. Retrieved 11 June 2012.
- "The Viipuri Prize". Lappeenranta University of Technology. Retrieved 11 June 2012.
||This article's use of external links may not follow Wikipedia's policies or guidelines. (June 2010)|
- Faculty page at the University of Michigan
- Business Week Article on his ideas
- Can C.K. Prahalad Pass the Test?, Fast Company, August 2001
- The Fortune at the Bottom of the Pyramid, The: Eradicating Poverty Through Profits
- How strategy guru C.K. Prahalad is changing the way CEOs think
- The Indus Entrepreneurs
- C.K Prahalad, Emerging Hi-Tech Ecosystems, Software 2006 Conference, April 4, 2006
- Video interview on The Magazine Post
- Video interview on Thinkers 50
- 2010 Viipuri Award