On tuesday17th Feb, 2009, Prof C K Prahlad was at IIM to deliver a lecture. I hereby present before you some main points which Prof Prahlad focused on.
The main outline of his talk focused on new Business models and innovations, which can help India to create sustainable technologies, so that India can compete even in these crisis scenario. Answering to one of the questions from a MBA student, Prof Prahlad said that he would advice to become an Entrepreneur rather than doing a job. He emphasized on new products and services which should focus more on traditional markets.
According to Prof Prahlad, the contemporary management mantra for corporates should be " Anticipate and Create" and identify new opportunities and be Innovative. For management students, this session was very fruitful as they could come out with a number of new business ideas and new business models. To mention a few, waste management techniques, Bio-degradable packet with seeds, Bio - Mimicry (converting Carbon dioxide into cement), etc. Prof Prahlad also focused on many ways on how to make the optimum use of the natural energy sources.
At the outset, there were two contemporary management lessons for students. One was; 4 A's of Marketing - Awareness, Access, Affordability & Availability. The second management lesson - Gandhian Engineering - "Get more for less for more people"..
