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" 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. "
Clayton M. Christensen
Technology
Quality
Mistake
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" I helped start a ceramics company called CPS Technologies. We took it public in 1987 at $12 a share. Three months later, there was this horrible cliff: Black Monday. Fidelity had bought 15 percent of our stock, and their algorithm caused them to dump it all onto the market that day. We dropped from $12 to $2. "
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" You may hate gravity, but gravity doesn't care. "
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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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" 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?' "
Clayton M. Christensen
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" This is why I belong, and why I believe. I commend to all this same search for happiness and for the truth. "
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Search
Happiness
" 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.' "
Clayton M. Christensen
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Grow
Successful
" 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. "
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" There are three types of innovations that affect jobs and capital: empowering innovations, sustaining innovations and efficiency innovations. "
Clayton M. Christensen
Affect
Three
Efficiency
" 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. "
Clayton M. Christensen
Life
Profound
Problems
" 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. "
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" Disruption is a process, not an event, and innovations can only be disruptive relative to something else. "
Clayton M. Christensen
Process
Only
Event
" 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. "
Clayton M. Christensen
Research
Page
Religion
" Venture capital is always wanting to go up market. "
Clayton M. Christensen
Always
Wanting
Venture Capital
" What the purpose of my life is about is I want to become the kind of person that God wants me to become, and through my study of the scriptures I can articulate the kind of person that God would be happy if I become. "
Clayton M. Christensen
Happy
Be Happy
Me
" 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. "
Clayton M. Christensen
Up
Go
Holiday
" 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. "
Clayton M. Christensen
Men
Women
Professional
" 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. "
Clayton M. Christensen
Product
You
Money
" 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. "
Clayton M. Christensen
Happiness
Life
Pain
" 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. "
Clayton M. Christensen
Circumstances
Book
Great
" We need to have an understanding of what causes what to happen in the world, and why. "
Clayton M. Christensen
Need
Happen
Why
" I wrote my first piece about the disruption of the Harvard Business School in 1999. Because you could see this coming. I haven't yet done the one about the disruption of the Stanford Business School. "
Clayton M. Christensen
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" In the Mormon Church, we believe we can be married for all eternity, not till death do you part. As Mom was getting older, she was excited, truly excited, that within a few years she'd be with Dad again. "
Clayton M. Christensen
Getting Older
Death
Mom
" Managers are already voracious consumers of theory. Every time they make a decision or take action, it's based on some theory that leads them to believe that action will lead to the right result. The problem is, most managers aren't aware of the theories they're using, and they often use the wrong theories for the situation. "
Clayton M. Christensen
Problem
Believe
Action
" 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. "
Clayton M. Christensen
Children
Day
Home
" My wife comes most of the times I teach and stands on the front row to help me. She's been wonderfully supportive. "
Clayton M. Christensen
Teach
Wife
Front
" 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. "
Clayton M. Christensen
Investment
Efficiency
Take
" Things happen to us in unpredictable ways, but the effect that that has on the kind of people who we become actually is not only open to chance - we can influence it in pretty profound ways. "
Clayton M. Christensen
Things Happen
Chance
Influence
" 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. "
Clayton M. Christensen
Fail
Decisions
Book
" I don't feel that this concept of disruptive technology is the solution for everybody. But I think it's very important for innovators to understand what we've learned about established companies' motivation to target obvious profitable markets - and about their inability to find emerging ones. The evidence is just overwhelming. "
Clayton M. Christensen
Motivation
Important
Think
" I don't have my finger on the pulse of corruption in China, but I think most people on the ground would say that as China was emerging from communism, it was a very regulated society, and therefore, it was very corrupt. But as they have deregulated the economy, there just aren't as many opportunities for people to be corrupt. "
Clayton M. Christensen
Society
Opportunities
People