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March Madness for Books - Field of 16
QuizĀ by Heather Morin
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Create MCQs from this text "For as long as we can remember, innovation has been a top priorityāand a top frustrationāfor leaders. In a recent McKinsey poll, 84% of global executives reported that innovation was extremely important to their growth strategies, but a staggering 94% were dissatisfied with their organizationsā innovation performance. Most people would agree that the vast majority of innovations fall far short of ambitions. On paper, this makes no sense. Never have businesses known more about their customers. Thanks to the big data revolution, companies now can collect an enormous variety and volume of customer information, at unprecedented speed, and perform sophisticated analyses of it. Many firms have established structured, disciplined innovation processes and brought in highly skilled talent to run them. Most firms carefully calculate and mitigate innovationsā risks. From the outside, it looks as if companies have mastered a precise, scientific process. But for most of them, innovation is still painfully hit-or-miss. What has gone so wrong? The fundamental problem is, most of the masses of customer data companies create is structured to show correlations: This customer looks like that one, or 68% of customers say they prefer version A to version B. While itās exciting to find patterns in the numbers, they donāt mean that one thing actually caused another. And though itās no surprise that correlation isnāt causality, we suspect that most managers have grown comfortable basing decisions on correlations. Why is this misguided? Consider the case of one of this articleās coauthors, Clayton Christensen. Heās 64 years old. Heās six feet eight inches tall. His shoe size is 16. He and his wife have sent all their children off to college. He drives a Honda minivan to work. He has a lot of characteristics, but none of them has caused him to go out and buy the New York Times. His reasons for buying the paper are much more specific. He might buy it because he needs something to read on a plane or because heās a basketball fan and itās March Madness time. Marketers who collect demographic or psychographic information about himāand look for correlations with other buyer segmentsāare not going to capture those reasons. After decades of watching great companies fail, weāve come to the conclusion that the focus on correlationāand on knowing more and more about customersāis taking firms in the wrong direction. What they really need to home in on is the progress that the customer is trying to make in a given circumstanceāwhat the customer hopes to accomplish. This is what weāve come to call the job to be done. We all have many jobs to be done in our lives. Some are little (pass the time while waiting in line); some are big (find a more fulfilling career). Some surface unpredictably (dress for an out-of-town business meeting after the airline lost my suitcase); some regularly (pack a healthful lunch for my daughter to take to school). When we buy a product, we essentially āhireā it to help us do a job. If it does the job well, the next time weāre confronted with the same job, we tend to hire that product again. And if it does a crummy job, we āfireā it and look for an alternative. (Weāre using the word āproductā here as shorthand for any solution that companies can sell; of course, the full set of ācandidatesā we consider hiring can often go well beyond just offerings from companies.)"March MadnessMarch Madness DemoThe Exciting Month of March Madness6th Grade March Madness Day 1March Music MadnessMARCH: WEEK 4March 4 Vocabulary Unit 2