By the time it becomes obvious that a technology will have truly disruptive impact, it is often too late to take action. This is one reason why we are such advocates of using theory to try to analyze industry change. Conclusive evidence that proves that a company needs to take action almost never exists. In fact, the data can fool management, lulling them into a false sense of security.

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.

Often they [writers on the study of management] have a point of view based upon intuition and experience. They then offer a cadence of two-paragraph examples carefully selected to "prove" their theory, and then they write "one size fits all" books. The message is, "If you'd do what these companies did, you'd be successful too."

What you need is a fundamental humility - the belief that you can learn from anyone.

Businesses want to think in terms of categories. Consumers want us to think in terms of their needs.

A lot has been written about the Internet bust. From my point of view, it's quite clear the Internet isn't a category; the Internet is a technological infrastructure that can be deployed to facilitate a disruptive business model or a sustaining business model.

The innovations are far more important because the technology itself has now way to impact the world for good until it's embedded in the business model. Innovation it's the combination of the simplifying technology and the business model.