To successfully compete in 21st-century business, companies must reinvent their processes and culture in order to sustain innovative solutions.
In their new book The New Age of Innovation: Driving Cocreated Value Through Global Networks,
authors C.K. Prahalad
and M.S. Krishnan
argue that the key to creating value and the future growth of every business depends on accessing a global network of resources to co-create unique experiences with customers, one at a time. To achieve this, CEOs, executives, and managers at every level must transform their business processes, technical systems, and supply chain management, implementing key social and technological infrastructure requirements to create an ongoing innovation advantage. Dr. C.K. Prahalad was born in the town of Coimbatore in Tamil Nadu. He studied physics at the University of Madras (now Chenai). He worked as a manager in a branch of the Union Carbide battery company, before continuing his education in the United States, and earning a PhD from Harvard. He has taught in India and America, eventually joining the faculty of the University of Michigan's Business School, where he holds the Harvey C Fruehauf chair of Business Administration. Dr. M. S. Krishnan is Mary and Mike Hallman e-Business Fellow, Area Chairman and Professor of Business Information Technology at the University of Michigan Business School. Dr, Krishnan is also a Co-Director of the Center for Global Resource Leverage:India at the Michigan Business School. Dr. Krishnan received his Ph.D. in Information Systems from the Graduate School of Industrial Administration, Carnegie Mellon University in 1996. He was awarded the ICIS Best Dissertation Prize for his Doctoral Thesis on "Cost and Quality Considerations in Software Product Management". His research interest includes Corporate IT strategy, Business value of IT investments, and management of distributed business processes, software engineering economics, metrics and measures for quality, productivity and customer satisfaction for products in software and information technology industries.