C.K.Prahalad is best known for Core Competence, that he developed along with Gary Hamel, in the Pre-internet Era.
Core Competence takes an 'introvertish' view of business, looking at the core competencies of the enterprise, that are not easy to imitate and are pivotal to business success.
Prahalad revamped his model of the Enterprise in Co-creation, in which he acknowledges the limitations of the Enterprise in this Internet Era.
Co-Creation is about creating products and services along with customers as companies no longer owns enough resources to invent products on their own.
Most importantly, he posited the revolutionary theory of Fortune at the Bottom of the Pyramid.
Here is BOP, in his own words,
"Because consumption can and does increase income. Consider health care. If you are legally blind with cataracts, you can't work and neither can the family member who cares for you. But if you get access to inexpensive cataract surgery, now you can see and both of you can work. Have you consumed eye surgery or increased the family's earning power? You've done both. It's two sides to the same coin."
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