Clayton Christensen
Clayton Christensen
Clayton M. Christensenis an American scholar, educator, author, business consultant, and religious leader who currently serves as the Kim B. Clark Professor of Business Administration at the Harvard Business School, having a joint appointment in the Technology & Operations Management and General Management faculty groups. He is best known for his study of innovation in commercial enterprises. His first book, The Innovator's Dilemma, articulated his theory of disruptive innovation. Christensen is also a co-founder of Rose Park Advisors, a venture...
NationalityAmerican
ProfessionBusinessman
Date of Birth6 April 1952
CountryUnited States of America
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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.
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Empowering innovations require long-term investments, which tie up capital for years and years. So companies are using capital to create more capital, and consequently, the world is awash in capital, but the innovations we need to advance aren't there.
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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.
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There are companies trying to build business within Saudi Arabia, and what they find is that if they try to bring on locals and teach them how to become senior executives, they just don't show up to work. They are not predictable as to when they'll come in and how much of their hearts are into that opportunity.
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While I wouldn't say that most entrepreneurs find it easy to get funding, there are certainly more people out there funding technology and healthcare companies than in other areas.
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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.
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Every city and town in America would be bankrupt if they kept their books the way private-sector companies keep their books - because of the obligation cities and towns have taken upon themselves to provide health care for their retirees.
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The paradox explored in my book 'The Innovator's Dilemma' is that successful companies can fail by making the 'right' decisions in the wrong situations.
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Growth makes management easier. In particular, it makes making labor concessions seem easy. It's when growth stops because you're being disrupted that managing becomes really, really hard, and as a result, most disrupted companies simply disappear.
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The key is not to figure out what the best people are doing and try to emulate it - rather, figure out what causes people and companies to be successful.
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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.'
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Efficiency innovations arise in industries that already exist. They provide existing goods and services at much lower costs. They are not empowering. Efficiency innovators become the low cost providers within an existing framework.
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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.
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The basic idea that marketing is wrong at its core is one of the main reasons why innovation seems blocked and unpredictable.