In the 1994 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 value with--not...
To continue reading:
or
Log-In
