The biggest mistake is an over-reliance on data. Managers will say if there are no data they can take no action. However, data only exist about the past. By the time data become conclusive, it is too late to take actions based on those conclusions.

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.

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.

If you just look at the data, you are led to believe that things are getting better, rather than worse. That's why the fall is really precipitous, once you hit the ceiling.

In the first stage of insight-building, all that researchers can do is observe phenomena. Second, they classify the phenomena in a way that helps them simplify the apparent complexities of the world so they can ignore the meaningless differences and draw connections between the things that really seem to matter. Third, based on the classification system, they propose a theory. The theory is a statement of what causes what and why, and under what circumstances.

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. Companies in fact are specifically organized to under-invest in disruptive innovations! This is one reason why we often suggest that companies set up separate teams or groups to commercialize disruptive innovations. When disruptive innovations have to fight with other innovations for resources, they tend to lose out.

Steve Jobs and Apple taught us that profit is not the ultimate goal, but rather a consequence of something greater.