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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

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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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" 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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" If you understand cause and effect, it brings about a set of insights that leads you to a very different place. The knowledge will persuade you that the market isn't organized by customer category or by product category. If you understand the job that consumers need to complete, you can articulate all of the experiences in that job. "

Clayton M. Christensen

" In a healthy economy, empowering, sustaining and efficiency innovations operate in balance. A healthy economy creates and sustains more jobs before squeezing out inefficiencies. "

Clayton M. Christensen

" 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

" 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. "

Clayton M. Christensen

" Efficiency innovations are a natural part of the economic cycle, but these are the innovations that streamline process and actually reduce the number of available jobs. "

Clayton M. Christensen

" Finding a 'sacrificial lamb' on whom to tag blame for complicated problems is an important instrument in the toolkit of politicians, because it deflects blame for the nation's economic woes away from their own regulatory lapses, economic mismanagement and coddling to labor unions. "

Clayton M. Christensen

" The financial doctrines so zealously followed by American companies might help optimize capital when it is scarce. But capital is abundant. If we are to see our economy really grow, we need to encourage migratory capital to become productive capital - capital invested for the long-term in empowering innovations. "

Clayton M. Christensen

" 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

" There is no single right answer or path forward, but there is one right way to frame the problem. "

Clayton M. Christensen

" 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

" When you improve your product so it does the customer's job better, then you gain market share. "

Clayton M. Christensen

" 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. "

Clayton M. Christensen

" '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. "

Clayton M. Christensen

" 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. "

Clayton M. Christensen

" In our personal lives, we have a lot of businesses going on. I have a profession, I'm a father, a spouse, a good member of my community. How much of my time and energy can I allocate to each of those things? What I allocate becomes the strategy I have for my family, and everything else. "

Clayton M. Christensen

" Businesses that distribute information and news are in the business of training and teaching people. "

Clayton M. Christensen

" 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

" Smart companies fail because they do everything right. They cater to high-profit-margin customers and ignore the low end of the market, where disruptive innovations emerge from. "

Clayton M. Christensen

" Management is the opportunity to help people become better people. Practiced that way, it's a magnificent profession. "

Clayton M. Christensen

" 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. "

Clayton M. Christensen

" 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

" A sustaining innovation makes better products that you can sell for better profits to your best customers. "

Clayton M. Christensen

" When you're thinking about your next product or current product and wondering how to make it different so you don't have competition, understand the job the customer needs to get done. "

Clayton M. Christensen

" The concept of disruption is about competitive response; it is not a theory of growth. It's adjacent to growth. But it's not about growth. "

Clayton M. Christensen

" Life is an unending stream of extenuating circumstances. "

Clayton M. Christensen

" We need to have an understanding of what causes what to happen in the world, and why. "

Clayton M. Christensen

" 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