Word: prahalad
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Dates: during 2000-2009
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...billions of their counterparts in the world's shantytowns and slums represent the next big marketing opportunity for multinational companies. With sales growth harder to come by in a competitive world, enterprising companies are seeking expansion among the long-ignored lower classes. And it's about time, says C.K. Prahalad, well-known consultant and economist at the University of Michigan, who says these "aspirational poor"--people earning less than $2 a day who make up three-fourths of the world's population--could contribute an additional $13 trillion in annual sales to the global economy, if only companies would drill...
...companies are pushing into previously unexplored--and unappealing--markets because most people who can easily afford computers and cell phones already own them; growth rates and profit margins in traditional markets are suffering as too many sellers chase too few buyers. The same situation exists in many businesses, says Prahalad. "The biggest problem facing global companies is the capacity for organic growth," he says. "At the same time, there are 4 billion people in the world saying, 'We would like to be part of globalization...
...business blockbuster Competing for the Future, C.K. Prahalad and Gary Hamel argued that the first step to competitive advantage requires executives to escape their operational focus and spend serious time developing foresight about their industries. Prahalad returns to the topic early next year, this time with fellow University of Michigan Business School professor Venkat Ramaswamy. In The Future of Competition, they argue that today's consumer, overwhelmed with products, services and information, is not the passive participant of yesteryear's business-to-consumer equation. In the emerging paradigm, the consumer plays an active role, which means companies need to create...