One of the topics often discussed in Indian MBA classrooms is core competency; probably because the theory was given by CK Prahlad; the Business guru of Indian origin. But is core competency model really true? Let’s take a few successful firms.
Wipro was primarily a FMCG products company till 1980, when it diversified into technology. Today Wipro is one of the 3 technology giants of India with Infosys and TCS. Its revenues are fully dependent on its Technology arm. The extent of restructuring is so high that Wipro's website has no mention of its FMCG business any more
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Another giant, ITC was incorporated in 1910 primarily as a cigarettes company. But soon it started diversifying. Its Packaging & Printing Business Division was set up in 1925. In 1975 the Company launched its Hotels business, and entered the Paperboards business in 1979. In 1990 ITC set up the International Business Division (IBD) for export of Agri-commodities. In 2000, ITC's Packaging &