“People don’t want to buy a quarter-inch drill. They want a quarter-inch hole.” 
― Clayton M. Christensen, The Innovator’s Solution: Creating and Sustaining Successful Growth

Businesses often mistake the way they create value with the value customers want them to create.

This is not a philosophical distinction; rather, often, the difference between companies that stay on top and ones that stagnate.

A spectacular example of this in practice was the failure of the music industry to anticipate and swiftly adapt to the threat posed by file sharing, which wiped $6 billion off global record sales in the early Noughties.

The fault of … Continue Reading