Last year, companies collectively spent $680 billion gambling on R&D. And for the most part, their bets haven’t paid off.
It doesn’t have to be this way, according to Clay Christensen, Harvard Business School professor and one of the world’s most respected innovation experts. Innovation shouldn’t be hit or miss – which is why he and his colleagues Taddy Hall, Karen Dillon and David Duncan wrote “Competing Against Luck: The Story of Innovation and Customer Choice” (HarperBusiness, October 2016).
Contrary to popular belief, customers don’t buy products and services. They hire them to do a job. And without understanding the jobs your customers need done, your innovations will continue to be risky wagers. “Competing Against Luck” will help managers learn how to apply Jobs to be Done theory to predict with much more clarity which innovations customers actually want and are willing to pay premium prices for.
As Strategy & Business editor Theodore Kinni wrote in his book review, “There is something that feels intuitively right about Jobs to be Done. It jibes with why I buy, and why I don’t. Moreover, anything that promises to connect $680 billion in R&D spending to actual financial performance is worth a flyer.”
Pre-order “Competing Against Luck” and up the ante on your company’s capacity to innovate – and succeed.