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" 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. "

Clayton M. Christensen
Cost
Become
Within
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" 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. "
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" 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. "
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" As a general rule, when a new industry takes root, and the first products emerge in a wave, almost always the architecture of the product will be proprietary and interdependent in character. "
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" 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. "
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" 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. "
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" There are three types of innovations that affect jobs and capital: empowering innovations, sustaining innovations and efficiency innovations. "
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" 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. "
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" Life is an unending stream of extenuating circumstances. "
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" People have an idol they want to be like and try to follow what the idols did. But when you do, you find out you're not very successful and you're not very happy. You try to copy these models, and it doesn't yield successful results. "
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" 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. "
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" 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. "
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" As a general rule, if you have a product that doesn't get the job done that a customer is needing to get done, then often you have to offer it for zero. Because if you ask for money for it - because if it doesn't do the job well, they won't pay for it. "
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" Management is the opportunity to help people become better people. Practiced that way, it's a magnificent profession. "
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" An innovation will get traction only if it helps people get something that they're already doing in their lives done better. "
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" 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. "
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" 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. "
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" Because we employ no professional preachers, it means that every sermon or lesson in church is given by a regular member - women and men, children and grandparents. "
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" There are direct paths to a successful career. But there are plenty of indirect paths, too. "
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" Empowering innovations transform something that is complicated and expensive into something that is so much more simple and affordable that a much larger population can enjoy it. "
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" If you develop a product that gets what the customer is trying to get done, you don't have to advertise; people will just pull it into their lives. "
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" During the early stages of an industry, when the functionality and reliability of a product isn't yet adequate to meet customer's needs, a proprietary solution is almost always the right solution - because it allows you to knit all the pieces together in an optimized way. "
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" I talk to our kids now that they are grown up, and I ask them about the experiences that had growing up that really had a powerful influence on the way they view the purpose of life. The experiences that really shaped their values - my wife and I have no memory of those experiences! "
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" By doing what they must do to keep their margins strong and their stock price healthy, every company paves the way for its own disruption. "
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" In the scriptures, we are told you can't really understand happiness unless you understand sadness. You don't know pleasure if you don't know pain. It's part of life. So can you learn something from somebody who has gone from success to success to success? I don't think so. "
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" Eighty percent of the cases used in the typical MBA program are about successful companies. Students graduate with this notion that 'If I do everything that the people in those cases did, then my organization will grow and be successful, too.' "
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" 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. "
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" The key is not to figure out what the best people are doing and try to emulate it - rather, figure out what causes people and companies to be successful. "
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" 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. "
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" Each of our children during their high school years went to 'early morning seminary' - scripture study classes that met in the home of a church member every school day morning from 6:30 until 7:15. "
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