C K Prahlad shares his views on how Indian companies can take centrestage in the global economy
Tuesday, February 7, 2006
He believes in ?fortune at the bottom of the pyramid?. Management guru C K Prahlad?s message for Indian companies has always been to concentrate on the economic needs of the society they operate in. At the just concluded Delhi Sustainable Development Summit organised by Teri, the world renowned expert spoke about corporates? increasing role in fulfilling the needs of the poor. So, how do we wed together a commercial approach and needs of the poor for utilities like water and energy?
?The fundamental question that we have to address is how to reduce costs. The problem in case of utilities like water and energy is that there is no real price ? distortions in subsidies have paid put to that. People are ready to pay, amply proved by the fact that people pay exhorbitant sums for private water tankers, but even then they do not get the required quality. So radical innovation is a must, and not just in product innovation, but in distribution strategies, maintenance and pricing strategies,? says Prahlad.