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{{EngvarB|date=September 2014}}
{{Use dmy dates|date=September 2014}}
{{short description|Strategist, educator and author}}
{{Infobox person
| image = CK Prahalad WEForum 2009.jpg
| image_size = 200px
| name = C. K. Prahalad
| caption = Prahalad on 8 November 2009, at [[World Economic Forum]]'s India Economic Summit 2009.
| birth_date = {{Birth date|df=yes|1941|08|08}}<ref name="iimusa">[http://www.iimusa.org/iimusa/NotableAlumni.aspx?AlumniId=3 Notable Alumni: Dr. C K Prahalad] {{webarchive |url=https://web.archive.org/web/20080622142358/http://www.iimusa.org/iimusa/NotableAlumni.aspx?AlumniId=3 |date=22 June 2008 }}. IIMA USA Chapter.</ref>
|birth_place = [[Coimbatore]], [[Madras Presidency]], [[British India]]<br> (now in [[Tamil Nadu]], [[India]])
| death_date = {{Death date and age|df=yes|2010|4|16|1941|8|8}}<ref name=ft>{{cite news|title=Manifesto writer for business survival |first=Stefan |last=Stern |date=19 April 2010 |work=Financial Times |url=http://www.ft.com/cms/s/0/77f4abf4-4b49-11df-a7ff-00144feab49a.html }}</ref>
|death_place = [[San Diego]], [[California]], [[U.S.]]
|alma_mater = [[Loyola College, Chennai]]<br>[[Indian Institute of Management Ahmedabad|IIM Ahmedabad]]<br>[[Harvard Business School]]
|occupation = Professor
| nationality = [[Indian American]]
| citizenship = [[India]]
| spouse = Gayatri
| children = Murali Krishna, Deepa Rita <ref>{{cite news|title=Management guru C K Prahalad dead|url=http://www.deccanherald.com/content/64381/management-guru-c-k-prahalad.html|access-date=24 April 2012|newspaper=Deccan Herald|date=17 April 2010}}</ref>
}}

'''Coimbatore Krishnarao Prahalad''' (8 August 1941 – 16 April 2010)<ref name="iimusa" /> was a corporate and social strategist, educator and author. He was the Paul and Ruth McCracken Distinguished University Professor of Corporate Strategy at the [[University of Michigan]] [[Stephen M. Ross School of Business]].<ref>{{Cite web|title=C.K. Prahalad Bio|url=https://michiganross.umich.edu/faculty-research/institutes-centers-initiatives/india-initiatives/ck-prahalad-initiative/bio|access-date=2020-06-09|website=michiganross.umich.edu|language=en}}</ref>

He co-authored "[[Core competency|Core Competence of the Corporation]]"<ref name="core">{{cite journal|last1= Prahalad|first1= C.K.|last2= Hamel|first2= Gary|title= Core Competence of the Corporation|journal= Harvard Business Review|publisher= [[Harvard Business Publishing]]|date= May 1990|url= http://hbr.org/1990/05/the-core-competence-of-the-corporation/ar/1}}</ref> with [[Gary Hamel]]; and "[[The Fortune at the Bottom of the Pyramid]]"<ref name="bop">{{cite journal|last1= Prahalad|first1= C.K.|last2= Hart|first2= Stuart L.|title= The Fortune at the Bottom of the Pyramid|journal= Strategy + Business|publisher= [[Booz Allen Hamilton]] Inc.|year= 2002|url= http://www.cs.berkeley.edu/~brewer/ict4b/Fortune-BoP.pdf}}</ref> with [[Stuart L. Hart]], about business opportunity in serving the [[Bottom of the Pyramid]].

On 16 April 2010, Prahalad died at the age of 68 of a previously undiagnosed lung illness in [[San Diego, California]].<ref name=autogenerated1>{{cite news |title=Manifesto writer for business survival |first=Stefan |last=Stern |date=19 April 2010 |work=Financial Times |url=http://www.ft.com/cms/s/0/77f4abf4-4b49-11df-a7ff-00144feab49a.html }}</ref>
{{TOC limit|2}}

==Education and teaching==
Prahalad was born in [[Coimbatore]] ([[Tamil Nadu]]) in 1941. His father was a [[Tamil language|Tamil]] scholar and judge in [[Madras]] (now [[Chennai]]).<ref name="nyt">{{cite web|url= https://www.nytimes.com/2010/04/22/business/22prahalad.html|title= C. K. Prahalad, Proponent of Poor as Consumers, Dies at 68|work= [[The New York Times]]|date= 21 April 2010|access-date= 11 June 2012}}</ref>

At 19, he had finished his BSc degree in physics from [[Loyola College, Chennai]], part of the [[University of Madras]],<ref>{{Cite web|last=Chidan|last2=Apr 18|first2=Rajghatta / TNN /|last3=2010|last4=Ist|first4=01:36|title=C K Prahalad: Guru of poverty and profit dies at 69 {{!}} India News - Times of India|url=https://timesofindia.indiatimes.com/india/C-K-Prahalad-Guru-of-poverty-and-profit-dies-at-69/articleshow/5826769.cms|access-date=2020-06-09|website=The Times of India|language=en}}</ref> and joined [[Union Carbide]], where he worked for four years. Four years later he did postgraduate work in management at the [[Indian Institute of Management Ahmedabad]].

At [[Harvard Business School]], Prahalad wrote a [[doctoral thesis]] on multinational management in two and a half years, graduating with a [[doctor of business administration|DBA]] degree in 1975.<ref name="bio">[http://www.bus.umich.edu/Positive/POS-Research/PositiveSessions/Pos%20Links%20Prahalad%20bio.pdf Professor C.K. Prahalad] {{webarchive |url=https://web.archive.org/web/20120914120027/http://www.bus.umich.edu/Positive/POS-Research/PositiveSessions/Pos%20Links%20Prahalad%20bio.pdf |date=14 September 2012 }}</ref> After graduating from Harvard, Prahalad returned to the Indian Institute of Management Ahmedabad to serve as professor before returning to US again in 1977.

He returned to the United States in 1977, with an appointment to the [[University of Michigan]]'s [[Ross School of Business]] Administration. He eventually became a tenured full professor, earning the university's highest distinction, Distinguished University Professor, in 2005.

==Career==
{{more sources|section|date=December 2020}}
In early 1990 Prahalad advised [[Philips]]' Jan Timmer on the restructuring of this electronic corporation, then on the brink of collapse.{{Citation needed|date=February 2015}} A process which was named Operation Centurion was set up, and was successful after two or three years.

Prahalad was the inspiration behind the vision of India@75. While commemorating the 60th year of India’s independence, on 23 September 2007, during the Incredible India@60 celebration at New York, he articulated the idea of holistic three dimensional development of India to acquire enough economic strength, technological vitality, and moral leadership by 2022 – the 75th year of India’s independence. The [[Confederation of Indian Industry]] adopted his vision on 8 May 2008.<ref>{{cite web|url=https://indiaat75.in/about-us/genesis-vision |title=India at 75-About Us-Genesis and vision |website=www.indiaat75.in |access-date=21 October 2020}}</ref> <ref>{{cite web|url=https://www.moneycontrol.com/news/trends/features-2/india75-a-new-india-by-2022-2372541.html|title=India at 75-a new India by 2022 |website=www.moneycontrol.com|access-date=21 October 2020}}</ref> This initiative of CII has also found resonance with the Government, as in the ‘Strategy for New India@75’ document released by the [[NITI Aayog]], Government of India in 2018.<ref>{{cite web|url=https://www.ciiblog.in/economy/india75-the-vision|title=India at 75 vision |website=www.ciiblog.in |access-date=21 October 2020</ref>
C. K. Prahalad is the co-author of a number of works in corporate strategy, including ''The [[Core Competence]] of the Corporation'' (with [[Gary Hamel]], Harvard Business Review, May–June 1990) which {{As of|2010|lc=y}} was one of the most frequently reprinted articles published by the journal.<ref name=te>{{cite news |title=The guru of the bottom of the pyramid |last=Schumpeter |date=24 April 2010 |work=The Economist |url=http://www.economist.com/node/15949503?story_id=15949503}}</ref> He authored or co-authored: ''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 (professor)|M. S. Krishnan]] and published in April 2008, is ''[[The New Age of Innovation]]''. He co-authored: "Innovation's Holy Grail" with [[R.A Mashelkar]] which was chosen as a [[Harvard Business Review]] Top 10 articles on Innovation<ref>{{cite web|url=https://hbr.org/product/hbr-s-10-must-reads-on-innovation-with-featured-article-the-discipline-of-innovation-by-peter-f-drucker/an/11363E-KND-ENG |title=Archived copy |access-date=2016-11-07 |url-status=live |archive-url=https://web.archive.org/web/20161108133505/https://hbr.org/product/hbr-s-10-must-reads-on-innovation-with-featured-article-the-discipline-of-innovation-by-peter-f-drucker/an/11363E-KND-ENG |archive-date=8 November 2016 |df=dmy }}</ref> and focuses on how developing nations are leading the way in innovation that focuses more on affordability and sustainability as opposed to the common premium pricing model.{{cn|date=December 2020}}

Prahalad was co-founder and became CEO of Praja Inc. ("Praja" from a Sanskrit word "Praja" which means "citizen" or "common people"). The company had goals of providing unrestricted access to information for people at the "bottom of the pyramid" and providing a test bed for various management ideas. It eventually laid off a third of its workforce, and was sold to [[TIBCO]]. In 2004 Prahalad co-founded [[management consultancy]] The Next Practice, to support companies in implementing the strategies outlined in ''The Fortune at the Bottom of the Pyramid'', which continued in operation {{As of|2015|lc=y}}.<ref>{{cite web|url=http://thenextpractice.com/ |title=Archived copy |access-date=2015-02-16 |url-status=live |archive-url=https://web.archive.org/web/20161009065305/http://thenextpractice.com/ |archive-date=9 October 2016 |df=dmy }}</ref> At the time of his death he was on the board of TiE, The Indus Entrepreneurs. Prahalad was a member of the Blue Ribbon Commission of the United Nations on Private Sector and Development.

===Honors and awards===
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.

* 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."<ref>Prahalad, C.K. "The Role of Core Competencies in the Corporation," ''Research-Technology Management'', Vol. 36, No. 6 (November–December 1993), pp. 40–47.</ref>
* In 2009, he was awarded [[Pravasi Bharatiya Samman]].<ref>{{cite web|title=The NRIs who made India feel proud|url=http://specials.rediff.com/news/2009/jan/09slide12-pravasi-bharatiya-divas-awards-ceremony.htm|publisher=Rediff|access-date=24 April 2012}}</ref>
* In 2009, he was named [[Padma Bhushan]] 'third in the hierarchy of civilian awards' by the [[Government of India]].<ref name="Padma Awards">{{cite web |url=http://mha.nic.in/sites/upload_files/mha/files/LST-PDAWD-2013.pdf |title=Padma Awards |publisher=Ministry of Home Affairs, Government of India |date=2015 |access-date=July 21, 2015 |url-status=dead |archive-url=https://www.webcitation.org/6U68ulwpb?url=http://mha.nic.in/sites/upload_files/mha/files/LST-PDAWD-2013.pdf |archive-date=15 November 2014 |df=dmy }}</ref>
* In 2009, he was named the world's most influential business thinker on the Thinkers50.com list.<ref>{{cite web|title=The Thinkers50 Ranking 2009|url=http://www.thinkers50.com/t50-ranking/2009-2/|publisher=Thinkers50|access-date=29 January 2015|archive-date=10 October 2017|archive-url=https://web.archive.org/web/20171010021810/http://thinkers50.com/t50-ranking/2009-2/|url-status=dead}}</ref>
* 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]].<ref>{{cite news|title=Viipuri Prize goes posthumously to world-renowned Professor C.K. Prahalad|url=http://www.lut.fi/en/lut/news/2010/pages/20101116_viipuriprize.aspx|archive-url=https://archive.today/20130213065554/http://www.lut.fi/en/lut/news/2010/pages/20101116_viipuriprize.aspx|url-status=dead|archive-date=13 February 2013|access-date=11 June 2012|publisher=[[Lappeenranta University of Technology]]|date=16 November 2010}}</ref><ref>{{cite web|url=http://www.lut.fi/en/business/introduction/viipuriprize/Pages/Default.aspx |title=The Viipuri Prize |publisher=Lappeenranta University of Technology |access-date=11 June 2012 |url-status=dead |archive-url=https://web.archive.org/web/20120405074148/http://www.lut.fi/en/business/introduction/viipuriprize/Pages/Default.aspx |archive-date=5 April 2012 }}</ref>
* In 2011, the Southern Regional Headquarters of Confederation of Indian Industry (CII) was named as Prof C K Prahalad Center
* In 2018, he was named the world's most influential business thinker on the Thinkers50.com list.<ref>{{cite news |title=2018 Hall of Fame Inductees |url=http://thinkers50.com/hall-of-fame/ |access-date=November 30, 2018 |publisher=thinkers50.com}}</ref>

==See also==
* [[Bottom of the pyramid]]
* [[Core competency]]
* [[Co-creation]]
* [[Dominant logic]]

==References==
{{Reflist}}

==External links==
{{Wikiquote}}
* [https://web.archive.org/web/20090811094048/http://www.themagazinepost.tv/default.php?idf=66 Video interview on The Magazine Post]
* [https://web.archive.org/web/20110717051433/http://www.thinkers50.com/video/33 Video interview on Thinkers 50]
*[https://www.strategy-business.com/article/11518?gko=9a4ba The Fortune at the Bottom of the Pyramid]
*[https://www.strategy-business.com/article/The-New-Fortune-at-the-Bottom-of-the-Pyramid?gko=7cf21 The New Fortune at the Bottom of the Pyramid]

{{Herbert Simon Award recipients}}
{{PadmaBhushanAwardRecipients 2000–09}}

{{Authority control}}

{{DEFAULTSORT:Prahalad, C K}}
[[Category:Indian business theorists]]
[[Category:1941 births]]
[[Category:Harvard Business School alumni]]
[[Category:Ross School of Business faculty]]
[[Category:Indian Institute of Management Ahmedabad alumni]]
[[Category:Loyola College, Chennai alumni]]
[[Category:Recipients of the Padma Bhushan in literature & education]]
[[Category:2010 deaths]]
[[Category:Indian Tamil academics]]
[[Category:University of Madras alumni]]
[[Category:American academics of Indian descent]]
[[Category:20th-century Indian economists]]
[[Category:People from Coimbatore]]
[[Category:American people of Indian Tamil descent]]
[[Category:Scientists from Tamil Nadu]]
[[Category:Tamil scientists]]
[[Category:Business educators]]

C. K. Prahalad - Revision history

>InternetArchiveBot at 11:21, 16 June 2021