Editorial Reviews. Review. "If you're ready to get deep, real quick, you need to read Clay Add Audible book to your download for just $ Deliver to your. Drawing upon his business research, he offered a series of guidelines for finding meaning and happiness in life. He used examples from his. a Happy Life, Christensen's How Will You Measure Your Life is with a book of lucid books online, books to read online, online library, greatbooks to read, PDF.
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The students seem highly aware of how the world has changed (as the sampling of views in this article shows). In the spring,. Harvard Business Schoolʼs. How Will You Measure Your musicmarkup.info - Free download as PDF File .pdf) or read online for free. How Will You Measure Your Life. Clayton M. Christensen. James Allworth & Karen Dillon. Book review by. Wahid Omar. 26 Sept Zulqaedah H.
But he also believes that these models can help people lead better lives. In this article, he explains how, exploring questions everyone needs to ask: How can I be happy in my career? How can I be sure that my relationship with my family is an enduring source of happiness? And how can I live my life with integrity? The principles of resource allocation can help people attain happiness at home. And just as a focus on marginal costs can cause bad corporate decisions, it can lead people astray. The key is to define what you stand for and draw the line in a safe place.
Could be your best friend, your dad, your family as a whole, or your partner. This flips the relationship on its head, approaching it from their perspective, instead of yours, and forces you to dig deep. It helps understand the other party better and then come up with good ways to fulfill their needs.
A really easy way to protect it at all times is to live with integrity. For most people, integrity is the default setting.
How can you avoid compromising your integrity? For example, Blockbuster was the incumbent in the movie rental market for a long time.
One day, a little company called Netflix started sending out DVDs via mail and had customers return them that way. The same thing happens with morals. Christensen explores the personal benefits of business research in the forthcoming book How Will You Measure Your Life?
Coauthored with James Allworth and Karen Dillon, the book explains how well-tested academic theories can help us find meaning and happiness not just at work, but in life. Email Editor's note: Every year, HBS Professor Clayton Christensen teaches students that well-tested academic theories can help them succeed not just in business, but in life. Co-authored with James Allworth MBA and Karen Dillon, the book uses meaningful corporate and personal anecdotes to extoll the value of theory in finding and creating happiness.
In the following excerpt, he explains why focusing on marginal costs and revenues can lead to personal, professional, and moral failure. It had stores all over the country, a significant size advantage, and what appeared to be a stranglehold on the market. Blockbuster had made huge investments in its inventory for all its stores. But, obviously, it didn't make money from movies sitting on the shelves; it was only when a customer rented a movie that Blockbuster made anything.
It therefore needed to get the customer to watch the movie quickly, and then return it quickly, so that the clerk could rent the same DVD to different customers again and again. It wasn't long before Blockbuster realized that people didn't like returning movies quickly, so it increased late fees so much that analysts estimated that 70 percent of Blockbuster's profits were from these fees.
Set against this backdrop, a little upstart called Netflix emerged in the s with a novel idea: rather than make people go to the video store, why don't we mail DVDs to them? Netflix's business model made profit in just the opposite way to Blockbuster's. Netflix customers paid a monthly fee-and the company made money when customers didn't watch the DVDs that they had ordered. As long as the DVDs sat unwatched at customers' homes, Netflix did not have to pay return postage-or send out the next batch of movies that the customer had already paid the monthly fee to get.
Blockbuster had billions of dollars in assets, tens of thousands of employees, and percent brand recognition.
If Blockbuster decided it wanted to go after this nascent market, it would have the resources to make life very difficult for the little start-up. But it didn't. By , the upstart was showing signs of potential.
Blockbuster investors were starting to get nervous—there was clearly something to what Netflix was doing. Many pressured the incumbent to look more closely at the market. We always look at all those things," is how a Blockbuster's responded in a press release. Online rental services are 'serving a niche market. It didn't need to compare it to an existing and profitable business: its baseline was no profit and no business at all.
This "niche" market seemed just fine. So, who was right? By , Netflix had almost 24 million customers. And Blockbuster? It declared bankruptcy the year before. Blockbuster's mistake? To follow a principle that is taught in every fundamental course in finance and economics. That is, in evaluating alternative investments, we should ignore sunk and fixed costs, and instead base decisions on the marginal costs and revenues that each alternative entails. But it's a dangerous way of thinking.
Almost always, such analysis shows that the marginal costs are lower, and marginal profits are higher, than the full cost. This doctrine biases companies to leverage what they have put in place to succeed in the past, instead of guiding them to create the capabilities they'll need in the future.
They require consistent dedication even when it appears unnecessary. Many seem to think that they can compensate for neglecting their loved ones by showing greater care later on.
However, damage done to a family in its early stages will manifest as problems later on. If you neglect these relationships now, you run the risk of losing support when you need it the most. Key Idea 5: Intuition and empathy help us do the job of making our loved ones happy. Often companies seem to focus so intently on selling a product that they lose sight of the real needs of the customer.
Unfortunately, many people approach relationships the same way. Whether your family or your business, your real job should always be to understand and fulfil the needs of others. This job is by no means easy. There are two tools that can help you: intuition and empathy.
A marriage works when each spouse understands what is expected of him or her. Using empathy and intuition to grasp these expectations, however, takes practice. For example, a man comes home from work one day to find a mess in the kitchen. Intuitively assuming that his wife has had a rough day, he decides to tidy up. Expecting to be thanked, he instead is surprised to find his wife upset. She tells her husband that caring for two demanding children is incredibly difficult, as she is unable to speak to another adult all day.
What she needed most was simply for her husband to listen to her. Another way to improve your relationship is if you think about it as a job.
What its customers need is to quickly and inexpensively furnish their homes. Because their needs are being met, IKEA customers remain loyal. The same goes for relationships: if you understand and fulfil the job required of you by your loved ones, they will remain loyal to you.
Key Idea 6: Raise your kids right Of all the jobs you have in life, one of the most important is educating your children. This does not simply mean teaching them all there is to know, but rather, giving them the tools to teach themselves.
The best way for children to develop their own values is by allowing them to face challenges and find solutions independently.
Such challenges could include learning to work with a problematic teacher, struggling with a new sport or negotiating cliques or bullies at school. By introducing children to everyday problems early on, their self-esteem will develop in a healthy way. You may be reluctant for your children to pursue goals on their own, or attempt to prevent them from making mistakes. It is far more important that a parent is there to provide support when children make mistakes, from which they can then grow and learn.
Another vital aspect of parenthood is the implementation of a healthy family culture. The foundation of this is family values, an informal but highly influential system of guidelines that will equip your children for any challenge they face, even as adults. In creating a family culture, it helps to think of it like an autopilot.
Once programmed, it is perfectly capable of running itself.
You can help program this value by taking every opportunity to emphasise its importance. Such an opportunity could be as simple as a conversation with your child about schoolyard bullying, or praising your child when he demonstrates compassion. In this way, kindness will be at the core of your family culture. This negative approach is in fact far less effective than a perspective that celebrates the good of your family in everyday interactions. The set of values that emerge as a result will be firmly established, and able to weather any challenge.
What does it mean to live your life with integrity?