CK Prahalad: The New Age of Innovation

Posted by: Helen Walters on May 1, 2008

I’m racing through a copy of “Bottom of the Pyramid” guru, CK Prahalad’s new tome, the hefty book: The New Age of Innovation: Driving Co-Created Value through Global Networks. CK’s a really smart thinker and while much of what he’s saying can seem obvious, we all know that what might seem obvious in theory can be devilishly difficult to apply in practice. So the examples and the stories and the hammering home of the lessons to be learned and practices and processes to be applied should make this book prescribed reading. The two lynchpins of his argument are:


Firms have to learn to focus on one consumer and his/her experience at a time, even if they serve 100 million consumers… No firm is big enough in scope and size to satisfy the experiences of one consumer at a time. The focus is on access to resources, not ownership of resources.

CK and his co-author, MS Krishnan, are coming into BW Towers next week and I’ll be recording a video interview and chatting with them for a piece we’ll run on the Innovation channel some time soon. Do let me know if you’ve got any questions for them…

Reader Comments

Mohan Bavirisetty

May 4, 2008 10:09 PM

This book is a great read for everyone interested in innovation networks and social innovation. I plan to use some of the material from this book in a course (titled "Managing Innovation") on a Social Networking web community for Innovation and Entrepreneurship.
Based on MIT OCW (open courseware) course, it is free and open to all!

Bruce Temkin

May 5, 2008 8:18 AM

I've always been a huge fan of Prahalad; especially of his work with Gary Hamel. And although I have not yet read this new book, your brief description resonates with what I tell my clients all the time.

First of all, innovation opportunities come from more deeply understanding the needs of individuals -- not from developing a numeric average of everyone's needs. The basic principle: if you try to satisfy everyone's needs, then you end up satisfying no ones.

Check out my blog "Customer Experience Matters"
http://experiencematters.wordpress.com

Helen Walters

May 7, 2008 6:19 PM

Hey Bruce and Mohan... Thanks for the comments. Had a really good chat with CK and his co-author M.S. Krishnan when they came in here. I'm going to write a more formal review of the book which we'll post next week, along with an excerpt of the video. I'll post the link here when we have it. Thanks again. Helen

Post a comment

 

About

What comes next? The Bloomberg Businessweek Innovation and Design blog chronicles new tools for creativity and collaboration, innovation case studies in both the corporate and social sectors, and the new ideas that have the power to change the way things have always been done.

BW Mall - Sponsored Links

Buy a link now!