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" "New business concepts are always, always the product of lucky foresight... The essential insight doesn't come out of any dirigiste planning process; it comes form some cocktail of happenstance, desire, curiosity, ambition and need. But at the end of the day, there has to be a degree of foresight -- a sense of where new riches lie. So radical innovation is always one part fortuity and one part clearheaded vision.
Gary P. Hamel (born 1954) is an American management expert and a founder of Strategos, an international management consulting firm based in Chicago. He is co-author of "Core Competence of the Corporation" with C. K. Prahalad.
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The most powerful way to prevail in global competition is still invisible to many companies. During the 1980s, top executives were judged on their ability to restructure, declutter, and delayer their corporations. In the 1990s, they'll be judged on their ability to identify, cultivate, and exploit the core competencies that make growth possible - indeed, they'll have to rethink the concept of the corporation itself.