Lessons from Legends - Inspiring and Invaluable quotes taken from the excerpts of speeches made by various guests in Great Lakes Institute of Management. In this series, presenting (Late) Dr C K Prahalad : inspiring words from his speech at Great Lakes Institute of Management.

1. Great Lakes Institute of Management
Presents
LESSONS FROM LEGENDS
- Powerful quotes from visionaries
- (Late) Dr. C.K. Prahalad
Professor of Corporate Strategy, Stephen M. Ross
School of Business, University of Michigan

2. “These are invaluable quotes taken from the
excerpts of speeches made by various guests in
Great Lakes Institute of Management.”
These excerpts were taken from (Late) Mr. C.K. Prahalad’s
talk at Great Lakes Institute of Management on
January 03, 2007
LESSONS FROM LEGENDS
www.greatlakes.edu.in

3. www.greatlakes.edu.in
Buildings don’t matter, but if the guys
sitting inside them can think
creatively, it surely matters. It is not
about the appearance of a lab, but it
is all about the quality of people; it is
not about money but about the work
you do; and that is how you will
accomplish extraordinary things.
– The importance of good human
resources

4. www.greatlakes.edu.in
We can look at all the constraints
and say there is nothing much I can
do to it. But if you use the constraints
to innovate a new business model,
then it is constraint - driven
innovation.
– Definition of constraint innovation

5. What are the extraordinary
opportunities we have in
manufacturing and software? Look
at the last 10 years of growth, and
the changes that happened in
India, and the new assets we have
created. This is constraint
innovation.
– Constraint driven innovation in
India
www.greatlakes.edu.in

6. Can India become the source of
innovation in next practices? I have
three fundamental drivers of next
practices: 1) the future of
competition, 2) fortune at the bottom
of the pyramid, and 3) restructuring of
global industries and its implications.
– The context of next practices in
India
www.greatlakes.edu.in

7. One of the biggest trends is that we
have to learn to collaborate with
consumers; we have to learn to
co-create with consumers. All industries
depend on co-creation – The focus of
innovation is changing from products to
services and experiences.
– The changing role of the consumer
www.greatlakes.edu.in

8. Why can’t we build an ecosystem of
co-creation which is not based on one
company doing everything, but a group of
companies, supplier networks, and
consumers coming together to co-create?
The skill is very different, the specialization is
also different.
– Talking about India’s potential to be a hub
of co-creation
www.greatlakes.edu.in

9. My assumption is that India should be
able to have three things: innovative
business models, collaborative capacity,
and integrated capacity as a substitute
for investment capacity.
– The requirements for India Inc. to be
able to create network experiences.
www.greatlakes.edu.in

10. www.greatlakes.edu.in
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