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be40b55
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The larger and more complex a company becomes, the more important it is for senior managers to train employees at every level, acting autonomously, to make prioritization decisions that are consistent with the strategic direction and the business model of the company. That is why successful senior executives spend so much time articulating clear, consistent values that are broadly understood throughout the organization. Over time, a company..
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Clayton M. Christensen |
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c598b8c
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People often think that the best way to predict the future is by collecting as much data as possible before making a decision. But this is like driving a car looking only at the rearview mirror--because data is only available about the past.
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Clayton M. Christensen |
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4441d4a
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This is why theory can be so valuable: it can explain what will happen, even before you experience it.
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Clayton M. Christensen |
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1e1fd7a
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To succeed predictably, disruptors must be good theorists. As they shape their growth business to be disruptive, they must align every critical process and decision to fit the disruptive circumstance.
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Clayton M. Christensen |
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89dd4bd
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The only way to be truly satisfied is to do what you believe is great work. And the only way to do great work is to love what you do. If you haven't found it yet, keep looking. Don't settle. As with all matters of the heart, you'll know when you find it.
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Clayton M. Christensen |
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f060115
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what's most important to you in your career? The problem is that what we think matters most in our jobs often does not align with what will really make us happy.
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Clayton M. Christensen |
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79b7763
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When we so heavily focus on providing our children with resources, we need to ask ourselves a new set of questions: Has my child developed the skill to develop better skills? The knowledge to develop deeper knowledge? The experience to learn from his experiences?
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Clayton M. Christensen |
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2a0c219
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In dealing with disruptive technologies leading to new markets, however, market researchers and business planners have consistently dismal records.
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Clayton M. Christensen |
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5d69981
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The strategies and plans that managers formulate for confronting disruptive technological change, therefore, should be plans for learning and discovery rather than plans for execution. This is an important point to understand, because managers who believe they know a market's future will plan and invest very differently from those who recognize the uncertainties of a developing market.
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Clayton M. Christensen |
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d5532ee
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Research has shown, in fact, that the vast majority of successful new business ventures abandoned their original business strategies when they began implementing their initial plans and learned what would and would not work in the market. 9
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Clayton M. Christensen |
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8dcf14b
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the innovator's dilemma: Should we invest to protect the least profitable end of our business, so that we can retain our least loyal, most price-sensitive customers? Or should we invest to strengthen our position in the most profitable tiers of our business, with customers who reward us with premium prices for better products?
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Clayton M. Christensen |
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86cb373
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Do you understand the real reason why your customers choose your products or services? Or why they choose something else instead? How do your products or services help your customers to make progress in their lives? In which circumstances are they trying to make that progress? What are the functional, emotional, and social dimensions of this progress? What is competing with your products and services to address these jobs? Are there competi..
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Clayton M. Christensen |
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e342c53
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For innovators, understanding the job is to understand what consumers care most about in that moment of trying to make progress.
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Clayton M. Christensen |
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5aa19a4
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You'll see that without theory, we're at sea without a sextant.
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Clayton M. Christensen |
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c2d74f9
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The evidence summarized in this matrix may be of some use to venture capital investors, as a general way to frame the riskiness of proposed investments. It suggests that start-ups which propose to commercialize a breakthrough technology that is essentially sustaining in character have a far lower likelihood of success than start-ups whose vision is to use proven technology to disrupt an established industry with something that is simpler, m..
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Clayton M. Christensen |
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4d9777a
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Probably the most daunting challenge in delivering growth is that if you fail once to deliver it, the odds that you ever will be able to deliver in the future are very low. This is the conclusion of a remarkable study, Stall Points, that the Corporate Strategy Board published in 1998.8 It examined the 172 companies that had spent time on Fortune's list of the 50 largest companies between 1955 and 1995. Only 5 percent of these companies were..
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Clayton M. Christensen |
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7ffad6f
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Study after study, however, concludes that about 90 percent of all publicly traded companies have proved themselves unable to sustain for more than a few years a growth trajectory that creates above-average shareholder returns.
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Clayton M. Christensen |
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f2709b8
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The fact that hospitals and physicians' practices are not job-focused, but instead aspire to do anything for anybody, has caused them not to be integrated correctly. In their current configuration, they cannot be consumer-driven.
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Clayton M. Christensen |
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0ac24d3
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In my experience, high-achievers focus a great deal on becoming the person they want to be at work--and far too little on the person they want to be at home. Investing our time and energy in raising wonderful children or deepening our love with our spouse often doesn't return clear evidence of success for many years. What this leads us to is over-investing in our careers, and under-investing in our families--starving one of the most importa..
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Clayton M. Christensen |
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be30112
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People often think that the best way to predict the future is by collecting as much data as possible before making a decision. But this...is like driving a car looking only at the rearview mirror-because data is only available about the past.
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Clayton M. Christensen |
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e5d75e2
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Reimbursement has become the primary mechanism through which the regulation of doctors occurs in the United States.2 To the extent that doctors cannot afford to do things they are not paid to do, and will gladly do more of those things they are paid handsomely to do, the decisions about whether, when, and how much to pay doctors for the various things they do has unwittingly become one of the most pervasive and powerful regulatory mechanism..
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Clayton M. Christensen |
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5239f11
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What makes the encumbrance of reimbursement even more distortive and binding is that most prices insurers pay are not set by market forces. Rather, they are administered prices that reek of the pricing algorithms and backroom negotiations used in communist systems. Those
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Clayton M. Christensen |
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11e70a9
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The structure of today's health-care industry is essentially structured around taking our problems to the solution. In the other industries we've studied, disruption inverts this system, so the solution is delivered to the problem. Downloadable
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Clayton M. Christensen |
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338b94a
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Meanwhile, expecting expensive institutions to become more cost efficient, and asking expensive professionals to take pay cuts while squeezing in more and more patients, are not viable avenues for making health care affordable and available. Afford-ability and accessibility come instead from disruptive innovations that enable less expensive caregivers, and less expensive venues of care, to become capable of doing progressively more sophisti..
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Clayton M. Christensen |
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3720646
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Put simply, innovative thinkers connect fields, problems, or ideas that others find unrelated.
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Clayton M. Christensen |
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21d066d
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Innovation, in a very real sense, exists in a "pre-quality revolution" state.1 Managers accept flaws, missteps, and failure as an inevitable part of the process of innovation. They have become so accustomed to putting Band-Aids on their uneven innovation success that too often they give no real thought to what's causing it in the first place."
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Clayton M. Christensen |
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e2ef007
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School is one of the things that children might hire to do the job. But the job is that children need to feel successful--every
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Clayton M. Christensen |
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f2cd424
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You need to define an opportunity that is disruptive relative to all the established players in the targeted market, or you should not invest in the idea.
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Clayton M. Christensen |
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7f58f02
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Finally, we recommend most strongly that medical educators must begin teaching tomorrow's doctors to become much better at creating, improving, and managing processes and systems.
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Clayton M. Christensen |
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fe74241
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You can only shape the experiences that are important to your customers when you understand who you are really competing with.
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Clayton M. Christensen |
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8fd6f82
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railroads fell into the trap of letting the product define the market they were in, rather than the job customers were hiring them to do. They
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Clayton M. Christensen |
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cb1ae28
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In the early stage, managers are puzzle solvers, not number crunchers. Passive
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Clayton M. Christensen |
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4424267
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Decide what you stand for. And then stand for it all the time. When
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Clayton M. Christensen |
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7328a1c
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Probably the most daunting challenge in delivering growth is that if you fail once to deliver it, the odds that you ever will be able to deliver in the future are very low.
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Clayton M. Christensen |
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e2ff89b
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No other occupation offers more ways to help others learn and grow, take responsibility and be recognized for achievement, and contribute to the success of a team. I drew heavily upon this learning to mold my likeness. From these parts of my life, I distilled the likeness of what I wanted to become: - A man who is dedicated to helping improve the lives of other people - A kind, honest, forgiving, and selfless husband, father, and friend - A..
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Clayton M. Christensen |
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922316b
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The authors, academics from Northeastern University, Harvard University, and the University of Houston, concluded that Google Flu Trends had wildly overestimated the number of flu cases in the United States for more than two years. The article, "The Parable of Google Flu: Traps in Big Data Analysis," concluded that the errors were, at least in part, due to the decisions made by GFT engineers about what to include in their models--mistakes t..
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Clayton M. Christensen |
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1dc6fa3
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As such, there is no one-size-fits-all approach that anyone can offer you. The hot water that softens a carrot will harden an egg.
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Clayton M. Christensen |
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1d2b69c
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Finding Happiness in Your Career The only way to be truly satisfied is to do what you believe is great work. And the only way to do great work is to love what you do. If you haven't found it yet, keep looking. Don't settle. As with all matters of the heart, you'll know when you find it. --Steve Jobs
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Clayton M. Christensen |
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3224875
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At its zenith Sears accounted for more than 2 percent of all retail sales in the United States. It pioneered several innovations critical to the success of today's most admired retailers: for example, supply chain management, store brands, catalogue retailing, and credit card sales. The esteem in which Sears' management was held shows in this 1964 excerpt from Fortune: "How did Sears do it? In a way, the most arresting aspect of its story i..
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Clayton M. Christensen |
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2f730fb
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What this implies at a deeper level is that many of what are now widely accepted principles of good management are, in fact, only situationally appropriate. There are times at which it is right not to listen to customers, right to invest in developing lower-performance products that promise lower margins, and right to aggressively pursue small, rather than substantial, markets.
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Clayton M. Christensen |
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cd753af
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The happiest moments of my life have been the few which I have passed at home in the bosom of my family. --Thomas Jefferson
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Clayton M. Christensen |
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c1fad0d
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There are whole industries, such as venture capital, that are currently organized around the belief that innovation is essentially a game of playing the odds. But it's time to topple that tired paradigm. I've spent twenty years gathering evidence so that you can put your time, energy, and resources into creating products and services that you can predict, in advance, customers will be eager to hire. Leave relying on luck to the other guys.
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Clayton M. Christensen |
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5b67ff6
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Given that 93 percent of companies that ended up being successful had to change their initial strategy, any capital that demands that the early company become very big, very fast, will almost always drive the business off a cliff instead. A big company will burn through money much faster, and a big organization is much harder to change than a small one.
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Clayton M. Christensen |
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ed55047
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Most schools don't do this job well at all. Instead, most children feel failure when they go to class. They could also hire athletics to do the job. For a few, sports do the job well. But for the less gifted, athletics makes students feel failure, too. So they hire electronic games to feel successful. And yet for many, even such games yield failure. So they hire friends who have feelings of failure, too--and engage in drugs and other things..
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Clayton M. Christensen |