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Business Quote by Michael Spence

“The combination of a workable basic formula and the capacity to improve over time is what one hopes for in any aspect of society: business, government, the non-profit sector.” quote by Michael Spence
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“The combination of a workable basic formula and the capacity to improve over time is what one hopes for in any aspect of society: business, government, the non-profit sector.”

Michael Spence

About This Quote

Source Article: Harvard Business Review, 2018

A workable formula plus improvement capacity is desired in business, government, and non‑profits.

In simple terms: Systems need both solid foundations and adaptability.

Key Takeaway

Design flexible, improvable structures.

Themes

innovation efficiency adaptability

Mood

analytical optimistic

Type

business philosophical

When to use this quote

  • policy design
  • organizational change
  • strategic planning

Key Concepts

business government non‑profit

Questions to Reflect On

  • How can you embed continuous improvement in your organization?
  • What metrics indicate a formula’s flexibility?
A Different Perspective

Rigid formulas can stifle creativity.

3.2 out of 5 (7 ratings)

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