Businesses that distribute information and news are in the business of training and teaching people.
I have healed the sick by the power of the God. I have spoken with the gift of tongues.
Having a loving relationship with our spouse or with our children is what leads to the long-term happiness we all seek.
When a company identifies how to integrate the processes needed to give the consumer a sense of job completion, it can blow away the competition. A product is easy to copy, but experiences are very hard to replicate.
We are awash in content that needs to be taught, yet the vast majority of colleges give a large portion of their faculties' salaries to fund research.
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't anything about their model that is extendable upmarket.
A sustaining innovation makes better products that you can sell for better profits to your best customers.
The first two lessons, which we learned early in our efforts to be good member missionaries, have made sharing the Gospel much easier: We simply can't predict who will or won't be interested in the Gospel, and building a friendship is not a prerequisite to inviting people to learn about the Gospel.
Efficiency innovations arise in industries that already exist. They provide existing goods and services at much lower costs. They are not empowering. Efficiency innovators become the low cost providers within an existing framework.
My wife comes most of the times I teach and stands on the front row to help me. She's been wonderfully supportive.
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 a counterintuitive course of action.
Growth makes so many dimensions of management easier. It's when growth stops that things get tough.
What's unique about the Mormon Church is that it encourages inquiry. I really do think my research and religion are all on the same page. I never could have come up with the notion of disruptive innovations, which went against a lot of conventional wisdom, if I hadn't been raised to always be asking questions.
I promise my students that if they take the time to figure out their life purpose, they'll look back on it as the most important thing they discovered while at school. If they don't figure it out, they will just sail off without a rudder and get buffeted in the very rough seas of life.
We don't hire ministers or priests to teach and care for us. This forces us to teach and care for each other - and in my view, this is the core of Christian living as Christ taught it.
Disruption is continuously afoot in every industry, but especially in autos. It is how Toyota, Nissan and Honda bloodied Detroit: They did not start their attack with Lexus, Infiniti and Acura, but with low-end subcompact models branded Corona, Datsun and CVCC.
Diabetes is a great example whereby, giving the patient the tools, you can manage yourself very well.
'Disruption' is, at its core, a really powerful idea. Everyone hijacks the idea to do whatever they want now. It's the same way people hijacked the word 'paradigm' to justify lame things they're trying to sell to mankind.
I haven't met too many people that don't intend to have a fulfilling life. High-achievers, however, end up allocating their resources in a way that seriously undermines their intended strategy.
Inviting others to help us with our work in the Church helps them feel needed and helps them feel the Spirit. When these feelings come, many people often then realize that something has been missing from their lives.
Efficiency innovations provide return on investment in 12-18 months. Empowering innovations take 5-10 years to yield a return. We have ample capital - oceans of capital - that is being reinvested into efficiency innovation.
When you improve your product so it does the customer's job better, then you gain market share.
For 300 years, higher education was not disruptable because there was no technological core.
I love my life as a missionary, keeping myself on the front lines. The image in my mind is that God, my general, stands at the door when I go out every morning; and, knowing what the war is like, day after day he gives me his most powerful weapon: his Spirit. For this I am grateful.
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.
I got Type 1 diabetes at 30. It hit me in 1982 when I was a White House Fellow in Washington. I had viral pneumonia. I lost 35 pounds in six weeks. And I couldn't see anything. Everything was blurry. I was always thirsty.
If you make that decision, that you'll always follow that rule, then your commitment to do it sinks into your heart, and when you realize the benefits of having integrity time after time, it really changes your heart, not just your head.
People under-invest in family because it doesn't pay off until the long term.
Whenever we have thanked these men and women for what they have done for us, without exception they have expressed gratitude for having the chance to help - because they grew as they served.
The mistake that makes launching a venture expensive is when you try to make a disruptive technology so good that it can compete on a quality basis with an established product.
The paradox explored in my book 'The Innovator's Dilemma' is that successful companies can fail by making the 'right' decisions in the wrong situations.
Relative to the taxi industry, Uber is a sustaining innovation; that is, it makes customers' lives better. Uber targeted mainstream markets with a better service for existing customers, and it succeeded in serving them better than the incumbents.
There are three types of innovations that affect jobs and capital: empowering innovations, sustaining innovations and efficiency innovations.
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.
Universities think people come up with great ideas by closing the door. The academic tenure process, where you have to publish to journals which are very narrow, stands in the way of great research.
Management teams aren't good at asking questions. In business school, we train them to be good at giving answers.
By definition, big data cannot yield complicated descriptions of causality. Especially in healthcare. Almost all of our diseases occur in the intersections of systems in the body.
A major driver of the cost of healthcare in the United States is a compromise that was reached with the American Medical Association in the 1960s when Medicare was first established.
If we are to develop profound theory to solve the intractable problems in our societally-critical domains... we must learn to crawl into the life of what makes people tick.
The iPod is a proprietary integrated product, although that is becoming quite modular. You can download your music from Amazon as easily as you can from iTunes. You also see modularity organized around the Android operating system that is growing much faster than the iPhone. So I worry that modularity will do its work on Apple.
The ability to share the Gospel isn't a 'gift' that has been given to only a few Latter-day Saints and denied to the rest.
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 deal making. Management is the opportunity to help people become better people. Practiced that way, it's a magnificent profession.
Almost always, great new ideas don't emerge from within a single person or function, but at the intersection of functions or people that have never met before.
A great book seeks to explain causality, not correlation. It works to point out the circumstances in which it works, and where it doesn't. And in so doing, it is broadly applicable.
In an environment where you've got to push innovations out the door fast and keep the cost of innovation low, the probability that you'll be successful is actually much higher.
An innovation will get traction only if it helps people get something that they're already doing in their lives done better.
American capitalists, enthralled by the doctrines of finance, have put their income statements in service of the balance sheet.
To focus capital and entrepreneurship into empowering innovation, we should change is the capital gains tax rate. We would be better served by a regressive tax rate, that would become progressively smaller the longer the investment is held.
I think this is one reason why the Lord invented the Internet - so members can teach one another how to succeed in assignments the Lord has given us, and to give us opportunities to inspire and bear testimony in a horizontal way.
