Holiday Inn comes in at the bottom of the market, but they can't go upmarket except if they emulate the Four Seasons. So they can go up, but they have to emulate the people they're trying to compete against. They can't disrupt them, because there isn...
Funding that is focused on the ability to diagnose diseases precisely will just have inestimable value because that's the gate through which precision medicine has to go. Unless you can diagnose the disease precisely, care has to remain in the hands ...
Growth makes management easier. In particular, it makes making labor concessions seem easy. It's when growth stops because you're being disrupted that managing becomes really, really hard, and as a result, most disrupted companies simply disappear.
Many think of management as cutting deals and laying people off and hiring people and buying and selling companies. That's not management; that's dealmaking.
The Republicans are wrong in thinking that the rich create jobs. In reality, many of the richest Americans have been investing in efficiency innovations rather than to create jobs. And the Democrats are wrong, because growth won't happen if they dist...
The marginal cost of doing something 'just this once' always seems to be negligible, but the full cost will typically be much higher. Yet unconsciously, we will naturally employ the marginal-cost doctrine in our personal lives.
We all have jobs in our lives that we must get done. We reach out and bring products into our lives to get these jobs done. Marketing is all about asking, 'What job is the customer trying to accomplish?'
We need to have a better balance between a deliberate strategy and staying open. Because in the end, most of us end up being successful in a career that we never imagined we would be in at the beginning.
We have found that companies need to speak a common language because some of the suggested ways to harness disruptive innovation are seemingly counterintuitive. If companies don't have that common language, it is hard for them to come to consensus on...
When an entrant competitor attacks the low end of any market, the rational reaction of the incumbent firms is to abandon rather than defend it - because the low end is the least profitable of their possible investments.
Do not be deceived by impostors.
I believe that we can, in a deliberate way, articulate the kind of people we want to become. We can articulate the culture that we would want to exist in our family, and you can then, as the rest of life happens to you, you can utilize those things t...
The single most important factor in our long-term happiness is the relationships we have with our family and close friends.
I have continued systematically to study the Book of Mormon and Bible to understand even more deeply what God expects of me and my family while on this earth.
People under-invest in family because it doesn't pay off until the long term.
People who have the drive to achieve spend most of their time on what brings them the most tangible, immediate sense of success. Investments in our family only pay off in the very long term.
A disruptive innovation is a technologically simple innovation in the form of a product, service, or business model that takes root in a tier of the market that is unattractive to the established leaders in an industry.
The reason why it is so difficult for existing firms to capitalize on disruptive innovations is that their processes and their business model that make them good at the existing business actually make them bad at competing for the disruption.
There is no evidence that success in business will make us happy people or allow us to have happy families.
No idea for a new growth business ever comes fully shaped. When it emerges, it's half-baked, and it then goes through a process of becoming fully shaped. I've developed tests that I'm hoping can help entrepreneurs manage that shaping process, so that...
The breakthrough innovations come when the tension is greatest and the resources are most limited. That's when people are actually a lot more open to rethinking the fundamental way they do business.
