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.Collection: Morning
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.Collection: Friendship
American capitalists, enthralled by the doctrines of finance, have put their income statements in service of the balance sheet.Collection: Finance
Management teams aren't good at asking questions. In business school, we train them to be good at giving answers.Collection: Business
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.Collection: Business
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.Collection: Architecture
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.Collection: Business
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.Collection: Business
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.Collection: Medical
Understanding motivation is one of the most important things we can do in our lives, because it has such a bearing on why we do the things we do and whether we enjoy them or not.
There is no single right answer or path forward, but there is one right way to frame the problem.
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?'
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.
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 distribute the wealth of the wealthy to everyone else.
Management is the opportunity to help people become better people. Practiced that way, it's a magnificent profession.
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.
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.
India's prosperity is sectioned by geography, such as in Bangalore, where the information technology industry is prominent. Because they have a conduit out of India, competing in the world by the Internet, it's not regulated in corrupt ways, and it is very prosperous.
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.
'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.
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.
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 of expensive institutions and expensive caregivers.
People don't actually want to think about their own health and don't take action until they are sick. Yet employers are very motivated to get their employees healthy, since they bear most of the burden of their health care costs.
You may hate gravity, but gravity doesn't care.
An innovation will get traction only if it helps people get something that they're already doing in their lives done better.
For 300 years, higher education was not disruptable because there was no technological core.
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.
To become the kind of person you want to become, you've got to have discipline. It's easier to keep to your standards 100 percent of the time versus 98 percent of the time.
Disruption is a process, not an event, and innovations can only be disruptive relative to something else.
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 direct paths to a successful career. But there are plenty of indirect paths, too.
When you improve your product so it does the customer's job better, then you gain market share.
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.
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.
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.
Children are ready to learn when they are ready to learn, not necessarily when their parents are ready to teach them.
A sustaining innovation makes better products that you can sell for better profits to your best customers.
As I have studied the Bible and the Book of Mormon, I have come to know through the power of the Spirit of God, that these books contain the fullness of the gospel of Jesus Christ.
Diabetes is a great example whereby, giving the patient the tools, you can manage yourself very well.
Life is an unending stream of extenuating circumstances.
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.
Christine and I haven't raised our children. A whole community of selfless Christians has contributed to helping them become faithful, competent adults.
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.
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.
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.
I have healed the sick by the power of the God. I have spoken with the gift of tongues.
I have been blessed to see visions of eternity; and events in my future that have been important for me to foresee, have been revealed to me.
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.
The path I am trying so hard to follow is in fact the one that God my Father and His Son Jesus Christ want me to pursue. It has brought me deep happiness.
This is why I belong, and why I believe. I commend to all this same search for happiness and for the truth.