C.K. Prahalad heralds a new era of innovation

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.

Citation

Allio, R.J. (2008), "C.K. Prahalad heralds a new era of innovation", Strategy & Leadership, Vol. 36 No. 6, pp. 11-14. https://doi.org/10.1108/10878570810918304