Advantages Of Icarus Paradox

Evaluate the benefits and drawbacks of Hamel & Prahalad’s (1990) concept of Core Competence and examine any relationship to Miller’s (1992) Icarus Paradox.

The Core Competence and Icarus Paradox

Introduction The core competence of enterprises, is the ability of market positioning and aligning customer demand and difficult for competitors to imitate. The core competence of enterprises is closely related with the development strategy, its essence is the innovation ability, in order to acquire this ability, need the full transformation of multidivisional structure, enterprise operation mechanism, measure and market entry, customer perception and its advantages in three indicators. Prahalad make the strategic research, knowledge management, organizational principle and innovation mechanism integrated into one which has unique style. Prahalad and his student Hamel, was awarded the academic status of strategic management thinkers. There is a book called "The Icarus Paradox" book: “in Ancient Greek mythology, Icarus is locked in a small island surrounded by the sea. His father gave him a pair of wings, Icarus flew off the island. But he always flies to the sun and not willing to stop again, finally, his wings by the heat of the sun melted; it is no doubt, Icarus fell into the sea and was drowned”. (Miller D. 1990)This book was also used “The Perils of Excellence “under the title. In the book, Danny Miller explains why the organization was changed by its success: their