Purely Prahalad

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Purely Prahalad
Business Wisdom from the Late Dr. C.K. Prahalad’s Thoughts


B.N. Dastoor


February 2011 Purely Prahalad: Business Wisdom from the Late Dr. C.K. Prahalad’s Thoughts Edited by B.N. Dastoor Published by Ahmedabad Management Association Core-AMA Management House • Torrent-AMA Management Centre ATIRA-AMA Centre for Textile Studies Dr. Vikram Sarabhai Marg, Ahmedabad 380 015, India ama@amaindia.org, www.amaindia.org Shilp Gravures-AMA Media Outlet Printed by N.K. Printers, Rakhial, Ahmedabad


Purely Prahalad

Dedicated to the fond memory of late Dr. C.K. Prahalad



Every January, as we welcomed a new year, we at AMA would eagerly await the visit of Management Guru Dr. C.K. Prahalad. Most unfortunately, he left us suddenly for his heavenly abode, and AMA will never be the same again without his great contribution to the overall growth of management education. This book is published as a mark of respect, love and gratitude for Dr. Prahalad. I am sure, this collection will greatly benefit entrepreneurs, business leaders, managers, as also teachers and students of management. I thank our own Shri B.N. Dastoor for his skill and speed in preparing this very useful book. January 2011 Pankaj R. Patel President, AMA


Purely Prahalad


During his visits to Ahmedabad, for fourteen long years, Dr. C.K. Prahalad had enlightened us with his lectures, seminars, workshops, free-flowing discussions, and interviews. This attempt to collect the important glimpses of Dr. Prahalad’s business wisdom, expresses Ahmedabad Management Association’s deep gratitude for his salutary contribution in the exciting and dynamic field of management. I consider myself very fortunate to be assigned the task of presenting Dr. Prahalad’s thoughts in a concise form. B.N. Dastoor

The author is a Motivational Trainer specialising in Sales and Marketing. He is an author and columnist and presently involved in several social and educational assignments. Email: baheramgor@yahoo.com


Purely Prahalad


Foreword Preface 1. Next Practices and Not Best Practices 2. Leveraging India 3. Fortune At the Bottom of the Pyramid 4. Quotable Quotes Leaders of India Inc. Speak

Next Practices and Not Best Practices


Best practices lead to agreement on mediocrity. I do not have much interest in best practices. Because all of us benchmark each other, we gravitate toward mediocrity in a hurry. What we really need to ask is “What is the next practice?” so that we can become the benchmark companies and benchmark institutions around the world. 8

Purely Prahalad

Inauguration of Golden Jubilee Management Convention. Seen are M/s. Janak Parikh, Rajiv Vastupal, Dr. Prahalad and Venkat Chengavalli


Quality-Cost Equation
There was a lot of debate about whether quality will increase cost. What did we find? That if you deeply understand quality and you put methodology in place, costs automatically come down.

Sustainability can be the next quality challenge. It’s going to drastically reduce cost and increase consumer acceptance. Don’t look at sustainability as compliance and regulation, but an opportunity for breakthrough innovation.

Sustainability and Inclusiveness
You can design a product, service or supply chain with sustainability and inclusiveness together. You do not do it as an afterthought.

Customers Research Companies
We always assume that we are researching the customer… But it is the customer who is researching the brands and companies…

Disruptive Business Models
There are five criteria for “disruptive business models” 1. Does it radically alter the economics of the industry?


Purely Prahalad

Next Practices and Not Best Practices


2. Does it maintain and improve functionality? It is not just about lower cost. In fact, both of them together 3. Does it make it...
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