Gary Hamel and Prahalad
"The role of top management in diversified multinational corporations"
"Hamel and Prahalad"
In 1996 Hamel and Prahalad caution that complacent managers who get too comfortable in doing things the way they've always done will see their companies fall behind.
Gary Hamel, a graduate of Andrews University and the Ross School of Business at the University of Michigan is the CEO of Strategos, an international management consulting firm based in Chicago, and a visiting Professor of Strategic Management at London Business School. He is the originator (with C. K. Prahalad) of the concept of core competencies. He is also the director of the Woodside Institute, a nonprofit research foundation based in Woodside, California.
He was formerly a Visiting Professor of International Business at the University of Michigan (Ph.D. 1990) and at Harvard Business School. His academic standing took a dent soon after publication of the hardback version of Leading the Revolution, in which he had written a very positive profile of Enron.
Following the poor reception of Leading the Revolution, Hamel began work on resilience in business strategy. He wrote of the concept in a 2003 Harvard Business Review article entitled "The Quest for Resilience"
Coimbatore Krishnarao Prahalad, the Paul and Ruth McCracken Distinguished University Professor of Corporate Strategy at the University of Michigan Ross School of Business, is a globally recognized business consultant whose client list includes AT&T, Cargill, Citicorp, Oracle, TRW and Unilever.
His research focuses chiefly on next practices, corporate strategy and the role of top management in diversified multinational corporations. His current work addresses a complex emerging market, the world's poor and the innovative business models that will help end world poverty.
Recently Professor C. K. Prahalad earned the third spot on Suntop Media's 2005 "Thinkers 50" list, behind Harvard strategy specialist, Michael Porter, and Microsoft founder, Bill Gates.
Curious Cat Management Improvement Dictionary -Core Competency
Gary Hamel and Prahalad write about Core Competency - Those things that define what is special about an organization, what sets it apart from other organizations. Competencies are those things the company or organization does well. Core competencies are those things that are fundamental to the organization. Without those core competencies the organization would not be the same organization.
Core competencies of organization say Hamel and Prahalad: provide the organization a competitive advantage in the marketplace. For example, Dell's efficient, just in time manufacturing system is an core competency that provides Dell a competitive advantage in the marketplace.
Some define core competencies as "world class." That definition would mean many organizations have no core competencies. That seems to limit the usefulness of the concept.
Some management consultants suggest organizations focus exclusively on their core competencies; and outsource other functions to other organizations. I can't say I agree with that - as a rule. Often an organization is better off performing functions internally rather than outsourcing them even if the function is not a core competency.
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