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CORPORATE IMAGINATION AND EXPEDITIONARY MARKETINGA CRITIQUE

This research critiques the article identified below this paragraph. The critique considers the relevance of the article to marketing management, the logic and completeness of the author's argument, the reviewer's perception of the weaknesses and strengths of the article, and the reviewer's disagreement or agreement with the key points stated in the article.

Hamel, Gary, & Prahalad, C. K. (1991). Corporate imagination and expeditionary marketing. Harvard Business Review, 69(4), 8192.

The relevance of this article to marketing management in the contemporary period is evidenced by the dynamism of the global market place. Hamel and Prahalad (1991, pp. 8192) contend that the global market place has changed in a fundamental way from its character in the 1980s. The essential battlegrounds of 1980s market place, according to Hamel and Prahalad (1991, p. 81), were existing, welldefined markets. The essential battlegrounds of the 1990s market place, according to Hamel and Prahalad (1991, p. 81) will be fundamentally new markets. Successful companies in the 1990s, therefore, will be those that both build and dominate these new markets that will be created in "new and largely uncontested competitive space" (Hamel and Prahalad, 1991, p. 81). Companies that do not compete in this way will, according the Hamel and Prahalad (1991, p. 81), "find themselves interned in traditional, and shrinking, product markets." These companies may have "closed the gap . . . on cost, quality, and cycle time," but they will not have developed the "capacity to stake out new competitive space" (Hamel and Prahalad, 1991, p. 81).

How does a company develop the capacity to stake out new competitive space? According the Hamel and Prahalad (1991, p. 81), early and consistent investment within a company's core competencies is required. "Corporate ima

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