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| Innovate to face crisis, India Inc told |
| Mumbai, Nov 5, DHNS: |
Prof C K Prahalad of Stephen M Ross Business School of Business University of Michigan, on Thursday said the current slowdown would fundamentally change industry structures and it would require new approaches to management.
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He said: “We need to ‘anticipate and create’ opportunities for ourselves. Companies need to innovate tools for managing these volatilities and discontinuities by striking an appropriate balance between operational agility and strategic clarity.”
Delivering the key note address at the Manufacturing Summit of CII here, he said “Continuous development of new business models, intelligent products and embedded software are an integral part of manufacturing.”
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