Because these firms listened to their customers, invested aggressively in new technologies that would provide their customers more and better products of the sort they wanted, and because they carefully studied market trends and systematically allocated investment capital to innovations that promised the best returns, they lost their positions of leadership.

In 15 years from now half of US universities may be in bankruptcy ... in the end I'm excited to see that happen. So pray for Harvard Business School if you wouldn't mind.

I've concluded that getting the categories right is an absolutely crucial step to building useful management theory, and unfortunately too few writers do this. You've got to engage in serious scholarship, and then figure out how to write it in a way that lots of people can understand.

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.

The answer is the disruptive innovator, an outsider, who creates a product or service for the non-existing consumer in a non-existing market for almost no profit.

If you study the root causes of business disasters, over and over you'll find this predisposition toward endeavors that offer immediate gratification.

If you want to make better theory, you've got to use the best that's available and look through the lens of another discipline to see if you can uncover more anomalies. By looking at the phenomena of failure from the perspective of sales, marketing, finance, general management, and the equity markets, I was able to see things that Rebecca [Henderson] hadn't.