Infusing products with irresistible functoriality or, better yet, creating products that customers need but have not yet even imagined." They noted that core competence encompasses communication, involvement and a deep commitment to working across organization boundaries. As globalization was taking off, the deceptively difficult but critical task facing management was "create an organization capable of Rethinking the concept of the corporation is exactly what happened. Indeed, they'll have to rethink the concept of the corporation itself. Hamel and Prahalad predicted that top exec utives would be judged on their ability to identify, cultivate and exploit the core competencies that make growth possible. Simply put, core competency is the combination of resources and skills that distinguish a firm in the marketplace. Prahalad and Hamel defined core competenciesas the collective learning in the organization, especially how to coordinate diverse production skills and integrate multiple streams of technologies. Learn more about Kate Vitasek and her role as a SIG University Faculty Member. Hamel is an American management expert, and a founder of Strategos, an international management consulting firm based in Chicago. Prahalad, who died in 2010, was the Paul and Ruth McCracken Distinguished University Professor of Corporate Strategy at the University of Michigan Stephen M. They introduced the concept of core competence, which they called the “most powerful way to prevail” in global commerce. Prahalad and Gary Hamel, teamed to write one of the Harvard Business Review's most influential articles on the nature of the modern firm and, by extension, outsourcing.
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