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How Will You Measure Your Life? Clay Christensen
“It’s actually really important that you succeed at what you’re succeeding at, but that isn’t going to be the measure of your life.”
Too often, we measure success in life against the progress we make in our careers. But how can we ensure we’re not straying from our values as humans along the way? Clayton Christensen, Harvard Business School professor and world-renowned innovation guru, examines the daily decisions that define our lives and encourages all of us to think about what is truly important.
Youngest Woman Billionaire Made Fortune Flipping Burgers
The youngest female billionaire in the U.S. — and one of the youngest on Earth — owes her $1.1 billion fortune to flipping burgers, according to the Bloomberg Billionaires Index.
Lynsi Torres, 30, is owner and president of the In-N-Out Burger chain, whose restaurants have earned a following so devoted, says Bloomberg, that customers line up hours in advance of a new store’s opening.
The chain’s fans include fellow billionaire Warren Buffett, who, according to a story on the UCLA Anderson School of Business website, told a group of Anderson students in 2005 that he’d like to own the chain.
Torres didn’t found In-N-Out; her family did. According to the company’s website, Harry Snyder, Lynsi’s grandfather, introduced California’s first drive-through hamburger stand in 1948 in Baldwin Park. His wife Esther handled the accounting. From the get-go, the chain emphasized its use of only high-quality ingredients. Burgers today are still made one at a time and always to order, according to the company. Lynsi became president in 2010.
Bloomberg says In-N-Out has grown to include nearly 280 stores in 5 states, with 2012 sales of about $625 million. Bloomberg bases its $1.1 billion valuation for In-N-Out on the metrics of five publicly-traded peers, including McDonald’s Corp and Wendy’s.
In-N-Out, in response to Bloomberg’s valuation, called it speculation. The company is private, its financials confidential.
In-N-Out, according to a 2003 Harvard Business School case study cited by Bloomberg, has never franchised, which helps it to maintain strict quality control. Consultants Bain & Co in 2005 estimated the chain enjoys a 20 percent profit margin, thanks in part to the company’s focus on simplicity: its menu is strictly limited.
According to the company’s website, In-N-Out expanded into Texas in 2011, after building a new warehouse and patty-making factory in Dallas.
Torres, says Bloomberg, guards her privacy and grants few interviews. In September she bought a 7-bedroom, 16-bathroom mansion near the San Gabriel Mountains, according to Realtor.com. Her most visible presence so far, says Bloomberg, has been on the racing circuit. She competes in National Hot Rod Association races, sometimes driving a 1970 Plymouth Barracuda, sometimes a 1984 Chevrolet Camaro, according to association records.
Authors@Google Presents Gautam Mukunda “Indispensable: When Leaders Really Matter”
Gautam Mukunda is an Assistant Professor in the Organizational Behavior Unit of Harvard Business School. Before joining the business school he was the National Science Foundation Synthetic Biology ERC Postdoctoral Fellow resident at the Massachusetts Institute of Technology‘s Center for International Studies. He received his PhD from MIT in Political Science and an A.B. in Government from Harvard, magna cum laude. His research focuses on leadership, international relations, and the social and political implications of technological change. He is a member of the Council on Foreign Relations and MIT’s Security Studies Program and Program on Emerging Technologies.
Before graduate school he was a consultant with McKinsey & Company, where he focused on the pharmaceutical sector. He is Founding Managing Director of The Two Rivers Group, a strategy consulting firm focusing on applying insights from academia to private and public sector problems. He is a member of the Board of Directors and Chair of the Mentorship Committee of The Upakar Foundation, a national non-profit devoted to providing college scholarships to underprivileged students of South Asian descent. He is a Paul & Daisy Soros New American Fellow, an NSF IGERT Fellow, and a Next Generation Fellow of The American Assembly. He has published articles on leadership, military innovation, network-centric warfare, and the security and economic implications of synthetic biology in Security Studies, Parameters, Politics and the Life Sciences, Systems and Synthetic Biology, and the Washington Post. His first book, “Indispensable: When Leaders Really Matter.”
Innovate by Looking for Problem Patterns
Clayton Christensen, Harvard Business School Professor, explains how to approach innovation creatively by studying the problem you are trying to solve and how it was resolved by other industries.
What They Don’t Teach in Business School about Entrepreneurship
A group of entrepreneurs talk about what they learned in the trenches that they never could have learned in a classroom. The panelists will also share the courses that were most helpful to them in their entrepreneurial ventures, the courses that they wished they had taken, and the topics that business schools should be teaching to aspiring entrepreneurs.
Nitin Nohria and Amanda Pepper of Harvard Business School‘s Leadership Initiative collaborated with XPLANE to create this video in order to generate a discussion of the value and importance of leadership to address some of society’s most pressing problems.
“It is my desire to inspire people of all ages and social demographics to think about leadership on a broad level, contemplate what it means to them and what individual impact they can have when it comes to leading,” says Nohria.
“Billions of Entrepreneurs: How China and India are Reshaping Their Futures and Yours”
Removing half a billion people from poverty and into the productive workforce will profoundly affect on the world economy. India and China are doing just that with insane growth rates and lots of what used to be American jobs: China is the factory floor and India the back-office, software shop. China is top-down party driven. India is a messy, vibrant democracy.
This may be the complementary duo that changes the world. Including your world.
Come hear Professor Tarun Khanna in a discussion about his book, Billions of Entrepreneurs: How China and India are Reshaping Their Futures and Yours. Called well worth reading by The Economist and entertaining by the Financial Times, Khanna’s book shows how Chinese and Indian entrepreneurs are creating change through new business models.
Speaker: Tarun Khanna
Tarun Khanna is the Jorge Paulo Lemann Professor at the Harvard Business School, where he has studied and worked with multinational and indigenous companies and investors in emerging markets worldwide. He joined the faculty in 1993, after obtaining an engineering degree from Princeton University (1988) and a Ph.D. from Harvard (1993), and an interim stint on Wall Street. During this time, he has served as the head of several courses on strategy and international business targeted to MBA students and senior executives at Harvard.
His new book, Billions of Entrepreneurs: How China and India are Reshaping Their Futures and Yours, was published in February 2008 by Harvard Business School Press (Penguin in South Asia), with translations into several languages underway. It focuses on the drivers of entrepreneurship in China and India and builds on over a decade of work with companies, investors and non-profits in developing countries worldwide.
His scholarly work has been published in a range of economics and management journals, several of which he also serves in an editorial capacity. Articles in the Harvard Business Review (e.g. China + India: The Power of Two, 2007; Emerging Giants: Building World Class Companies in Emerging Markets, 2006) and Foreign Policy (e.g. Can India Overtake China?, 2003) distill the implications of this research for practicing managers. His work is frequently featured in global news magazines as well as on TV and radio.
He serves on the boards and advisory boards of several companies in the financial services, automotive, life sciences and agribusiness sectors. He actively invests in and mentors startups in Asia, and volunteers time with non-profits in India, e.g. the Parliamentary Research Services in New Delhi, which seeks to provide non-partisan research input to Indias Members of Parliament in advance of legislative sessions with a view to enhancing the quality of democratic discourse.
In 2007, he was nominated to be a Young Global Leader (under 40) by the World Economic Forum.
He makes his home in Newton, MA, with his wife, daughter and son.