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In this McKinsey Award-winning article, first published in May 1989, Gary Hamel and C. K. Prahalad explain that Western companies have wasted too much time and energy replicating the cost and quality advantages their global competitors already experience. Canon and other world-class competitors ha... More

Hundreds of millions of people in China, India, Indonesia, and Brazil are eager to enter the marketplace. Yet multinational companies typically pitch their products to emerging markets' tiny segment of affluent buyers, and thus miss out on much larger markets further down the socioeconomic pyramid-w... More

Any company that fails to create the markets of the future, will find itself on a treadmill, trying to keep one step ahead of the steadily declining margins and profits of yesterday's businesses. This chapter asks managers to evaluate their company's ability and willingness to imagine and create the... More

To have a share of the future, a company must learn to think differently about the meaning of competitiveness, the meaning of strategy, and the meaning of organizations. In this chapter, the authors discuss these essential elements for becoming an industry leader.... More

When several companies are tracking the same broad opportunity and striving to build roughly similar competencies, the issue is how to maximize one's share of worldwide revenues when the market finally takes off. This chapter discusses the keys to global preemption, the final milestone on the road t... More

A company must be viewed not only as a portfolio of products or services, but a portfolio of competencies as well. This chapter outlines five key competence management tasks that the entire management team must fully understand and participate in for the core competence perspective to take root in a... More

In this chapter, the authors argue that a key challenge in competing for the future is to preemptively build the core competencies that provide gateways to tomorrow's opportunities, as well as to find novel applications of current competencies.... More

This chapter discusses what must be done to turn industry foresight into reality and outpace competitors on the road to market leadership.... More

If a firm has no capacity for resource leverage, if it hasn't learned to do more with less, there is no advantage to being strategic. This chapter shows how a firm that has a surfeit of ambition and a dearth of resources quickly discovers that the only way to survive is to create new forms of compet... More

It is not cash that fuels the journey to industry leadership, but the mobilization of a company's emotional and creativity energy. This chapter illustrates why getting to the future first is more a function of resourcefulness than resources.... More

This chapter shows you how to conquer the challenge of yesterday's foresight becoming today's conventional wisdom by building a strategic architecture that enables you to invest, again and again, in creating a prescient view of the future.... More

The deeply encoded lessons of the past that are passed from one generation of managers to another produce a dangerous reliance on precedent. This chapter discusses the need for organizations to shed the managerial frames that have structured organizational life and rebuild with an eye toward the fut... More

To compete successfully for the future, senior managers must first understand the profound differences between competing for the future and competing in the present. This chapter shows that competing for the future requires not only a redefinition of strategy, but also a redefinition of top manageme... More

Industry foresight gives a company the potential to get to the future first and stake out a leadership position. This chapter shows how to develop the prescience needed to proactively shape industry evolution.... More

Corporate response to the threat of foreign competition is often misdirected and ill timed--in part because many executives don't fully understand what global competition is. Executives must anticipate competitive moves by starting from new strategic intentions rather than from old strategies. They ... More

A company's competitiveness derives from its core competencies and core products. Core competence is the collective learning in the organization, especially the capacity to coordinate diverse production skills and integrate streams of technologies. First companies must identify core competencies, wh... More

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In this visionary book, C. K. Prahalad and Venkat Ramaswamy explore why, despite unbounded opportunities for innovation, companies still can't satisfy customers and sustain profitable growth. The explanation for this apparent paradox lies in recognizing the structural changes brought about by the co... More

New competitive realities have ruptured industry boundaries, overthrown much of standard management practice, and rendered conventional models of strategy and growth obsolete. In their stead have come the powerful ideas and methodologies of Gary Hamel and C.K. Prahalad, whose much-revered thinking h... More

The efforts of host governments to maintain control over their own national economies have restricted the freedom of multinational company (MNC) managers in deploying economic resources. Regulation interferes with product/market choice, use of technology, level of employment, and national trade bala... More

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