How will you measure your life? Flashcards
Who wrote the book?
Clayton Christensen
What are hygene factors in motivation theory? How do they impact motivation?
Status, compensation, job security, work conditions, company policies, supervisory practices.
Can cause you to be unhappy. Bad hygene factors can lead to job dissatisfaction, but good hygene factors don’t lead to satisfaction, just “not dissatisfied.”
What are motivating factors in motivation theory? How do they impact motivation?
Challenging work, recognition, responsibility, personal growth. Intrinsic, not extrinsic.
These are deeply connected to job satisfaction, happiness, and motivation.
What are the two components to motivational theory?
Hygene factors
Motivating factors
What questions can you ask to understand more about the motivating factors related to a new job?
Is this work meaningful to me?
Is this job going to give me a chance to develop?
Am I going to learn new things?
Will I have an opportunity for recognition and achievement?
Am I going to be given responsibility?
What is deliberate strategy and what is emergent strategy? What happened in the example with Honda in the 1960’s?
Deliberate = intentional, planned for strategy Emergent = based on unintended outcomes
Honda was trying to break into the motorcycle market in the 1960’s w/ big bikes to compete with Harley. They accidentally broke into dirt bike market when selling smaller bikes to riders in LA interested in taking them into the hills.
How is actual strategy developed (think between deliberate and emergent)
Almost always a combination of deliberate and emergent, or deliberate and unanticipated opportunities.
When choosing between deliberate or emergent strategies, or more specifically when choosing to take on a new strategy or project that will require resources, what steps should you take?
1) First ask - What are the most important assumptions that have to prove right for these projections to work? How will we track them.
2) List assumptions by importance and uncertainty, with most important and most uncertain prioritized at the top.
3) In the least expensive way possible, test the validity of the most important assumptions.
Before taking a new job, what questions should you ask yourself?
What assumptions need to prove true to make me successful at this assignment or job? What about happy at the assignment of job?
List them, make sure they are in your control or explicitly agreed to.
What is the most common issue with resource allocation in businesses and at home?
Resources are allocated toward projects that result in short term benefits or rewards at the expense of long term gains.
Andy Grove quote on how to evaluate a companies priorities?
How does this apply to personal lives?
To evaluate a companies strategy, look at what they do, not what they say they do.
The same thing applies to your personal life. Evaluating how you spend your time and money on a detailed level tells you what your actual strategy is, not what you want it to be.
What are the three critical steps to creating and executing on a great strategy?
1) Find priorities that will lead to success and happiness
2) Balance deliberate and emergent strategies and priorities
3) Allocate resources consistent with priorities
What is the theory of good and bad capital?
There are two things investors want, growth and profitability.
Initially, patient for growth and impatient for profits.
Companies should prioritize profits and income over growth investment until they find a great strategy that works, spending as little as possible to do this.
When a strategy has been identified, be patient with profits and impatient with growth. Sacrifice short term profits for long term potential when a successful strategy has been identified.
What % of successful companies change their strategy at some point on their way to success?
93%
How should you think of products and services in terms of why the customer should buy them?
What are 3 examples where an understanding of the true nature of the customer job to be done helped companies?
The customer is buying them to help them do a job.
1) Fast food milkshakes. Observing morning purchasers showed they were buying for commute to stay full. Adding some fruit and making the purchase quicker increased sales. Afternoon purchasers were Dad’s buying their kids something special. Smaller sizes that were quicker to drink improved sales. Vs. simple customer surveys on what ingredients should change.
2) V8 - understanding the job of getting the customerall their veggies in one drink helped increase sales 4x when they marketed as such.
3) School students - students want to feel successful and have friends. When given opportunities to feel successful and not repeatedly fail, drop out rates massively dropped.
