CK Prahalad
The Core Competence of the Corporation

In the article "The Core Competence of the Corporation," Professor C. K. Prahalad and his collaborator Gary Hamel introduced a groundbreaking idea about how companies succeed. 

They presented the idea that rather than just looking at the products they sell, companies should identify and nurture their core competencies -- the unique abilities and strengths that make them stand out. Those competencies are born from collective experience and knowledge in the company and combine different skills and technologies. Additionally, core competencies are not easy for competitors to copy, therefore giving companies a lasting edge in the market. 

In their article, Prahalad and Hamel cautioned companies not to get overly wrapped up in their current products, which might change with time. They advised that instead, companies should focus on understanding and enhancing their deep-rooted strengths as they pave the way for future innovations and market leadership. By recognizing and harnessing core competencies, companies can venture into new markets, innovate, and stay ahead of the competition. In simple terms, companies should know and recognize what they are genuinely good at and use that to shape their future.