Closing Keynote: C K Prahlad@ NILF2009

Dr. C K Prahlad gave the closing keynote to draw the curtains on the Nasscom India Leadership Forum 2009. He has recently released his latest book titled “The New Age of Innovation” (after The Fortune at the Bottom of the Pyramid”) and he sought to drive home the point that the economic crisis is an opportunity for organisations to re-engineer their businesses and create new models of delivering products & services to their customers. To illustrate this, he cited the example of Persistent Systems which has created an innovative technology solution for BridgeStone Tyres (for tracking tyre wear status using customised PDAs) that allows BridgeStone to potentially change their core model from selling tyres to renting them out (think “tyre as a service”). Check out the video for an excerpt from his talk.

According to Dr Prahlad, to tide over the crisis, industry must learn the art of managing volatility and uncertainity. The ability to scale business operations quickly, retrain/redeploy surplus people in order to utilise them adequately due to lower demand in existing product lines/segments is paramount for survival.

Dr Prahlad made a scary prediction for the US financial sector. He felt that the personal credit card market is poised to implode just like mortgages, bank loans etc. This may worsen a already bad situation.