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XAlwaysLONG_1419_101306 - Tom Peters’ Tom EXCELLENCE...

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Unformatted text preview: Tom Peters’ Tom EXCELLENCE . ALWAYS. XAlways.LONG.1419.13October2006 X.AL. X.AL. XCELLENCE. ALWAY CELLENCE. AL Slides* at … tompeters.com *also “long” tom peters’ “excellence. Always.” tom “excellence. 1. Excellence! Always! Excellence 2. context. 3,000,000,000 new capitalists! 3. Innovate or die! Innovate 4. Revenue Matters Most! Revenue 5. Up+Up+Up+up the “Value-added Ladder”! Up (commodity to “ gamechanging solution” to “breathtaking experience” to “lovemark”) 6. Make . Much. Money. Damn it! Damn (women-Boomers-geezers) (women-Boomers-geezers) 7. Action!/Try It!/Execution! 8. Best “roster” wins! 9. Emotional Leadership!/ Emotional Leading for excellence! excellence 10. Excellence! Always! Always The Irreducible209+/ The Irreducible209+/ The Sales122/ 60TIBs/ 60TIBs/ Tom-A-to, Tom-ah-to A frustrated participant at a seminar for investment bankers in Mauritius listened impatiently to my explanation of differences of opinion among me, Mike Porter, “What, if anything,” he asked, “do you believe ‘for sure’?” Gary Hamel, Jim Collins, etc. Finally, he’d had enough. I mumbled something, but his query started rumbling around in my mind. Three days later, wandering on a Sunday in London, the idea of “the irreducibles” occurred to me—and I started jotting down notes on stuff I do indeed believe “for sure.” Before 209 items. Hence “The 209 I knew it, a few days later, the list had grown to Irreducible209” that follows. Tom Peters 1. Hare 1, Tortoise 0. (Hare­y times.) 1. 2. Tempo. (O.O.D.A.) 3. MBWA. 4. Appreciation. (“Motivator” #1.) (Can’t be faked. Good.) 5. Decency. 6. Hurry. 7. Time out. 8. One matters. 9. Big change. Short time. (Alt not work.) 10. Excellence. Always. 11. Passion. Energy. Hustle. Enthusiasm. Exuberance. (Move mountains. No alt.) 12. You must care. 13. Emotion. 14. Hard is soft. (Soft is hard.) EXCELLENCE. EXCELLENCE. ALL YOU NEED TO KNOW. 25 25 “Everyone lives by selling something.” something.” . – Robert Louis Stevenson A Few Biases You Should Know About Few *I am not a macro-economist. am not *I am wholly biased by 30 years (1970-2000) in Silicon Valley. am Valley *I would rather work for eBay than BankAmerica. *I believe that the Giant Merger Game is the single greatest believe waste of energy in the world of business. *Economies of scale are wildly over-rated. *I find the entire notion of “career” to be disturbing and a little silly. *I find the notion of “built to last” hilarious. *Between 1965 and 1980 I turned 179.9 degrees from “Mr Big Government” to “Mr ‘Cool’ Entrepreneur.” (Thank you, Frank Perdue.) *Joseph Schumpeter (“gales of creative destruction”) and F.A. Hayek ”) are my economist “gods”; JK Galbraith is my b ête noir. *“Innovation” is a wonderfully messy & chaotic process—not “Innovation” messy chaotic amenable to “strategic plans.” *I believe in Luck. (Fooled by Randomness—best book I’ve ever read.) A Few Biases You Should Know About *I find most strategic plans (and strategic planners) to be amusing. *I am not … Mike Porter. am Mike *I am not … Peter Drucker. am Peter *I am not … Jim Collins. am Jim *I believe that the resilience of Giant Companies is believe wildly-absurdly over-rated. *I believe that America’s productivity edge comes from car dealers more than Giant Cos. *No “business model” is “the last word.” *I am a Great Believer in “the basics”: product, people, am customers, execution. (Hence there is nothing very interesting, save one thing, in In Search of Excellence.) In *I believe that EXCELLENCE is a legitimate aspiration for each of us; and that any lesser aspiration is unconscionable. Execution. (Discipline.) Execution Accountability. Action, a Bias for. (S.A.V./R.F.A.) Relentless. Experimentation. (“Innovate or Die.” “He who makes …”) Adaptability. (Plan B; “We eat …”) “In the moment.” (Bertolucci.) Senility. Exuberance. Fun. Technicolor. Wow! (Extreme Language.) Wow! Quest-Adventure. By Invitation. Talent. Roster. ($21M.) Weird. (Hangin’ Out + Bottlenecks.) D-squared/“Dramatic Difference.” Up-Up-Up the “VA Ladder.” Trifecta: Wow Projects-Brand You-PSF. (No Option.) Trifecta: Design. Women. 4-40/D.E.A.615. (60TIBs; IRR209.) EXCELLENCE. TOM PETERS. TOM THE “ERAS.” TP’s TP’ “23Passions” “23Passions” by date: 1942-2006 B>A* (R.F.A.) (*Behavior drives Attitude) … ’71-’06 B>A* (*Behavior Implementation = #1 … ’73-’77 (’06) “Soft is Hard” (“Management Style”) … ’77-’79 (’06) “Soft (“Management (Org) Structure>Strategy … ’77-’83 (’06) Strategy-Structure+/ “McKinsey 7-S” Model ... ’77-’81 Action>Planning … ’74-’06 Action>Planning Mess = Reality ... ’77-’06 Skunkworks/Skunks (“Offline” Innovation/Innovators) … ’84-’91 Skunkworks/Skunks MBWA … ’80-’85 (’06) Excellence I … ’79-’84 Mid-size biz is cool … ’84-’89 (’06) Customer service … ’84-’88 Innovation … ’87-’92 Free trade/Hayek … ’90-’92 New Org Models … ’92-’96 PSF … ’92-’06 WOW! (WOW Projects) … ’93-’06 Brand You … ’94-’00 Design … ’94-’06 Women (Markets-Leaders) … ’96-’06 EXCELLENCE II … ’06-?? Healthcare (Quality-Wellness-PatientCentric) … ’06-?? Exuberance-Passion (Soft is Hard) … ’42-’06 (Soft TOM PETERS. TOM THE “DAMN ITS.” To The Mat: The “5 Damn Its” Women. PSF. Brand you. R.f.a. EXCELLENCE. ALWAYS. M.I.A. Action! * Implementation! ** The Work Itself! *** *R.F.A. **Execution ***WOW Projects! “Never forget implementation boys. In our work it’s what I call the ‘missing 98 percent’ of the client percent puzzle.” —Al McDonald TOM PETERS. TOM THE DEAL. Revolution-Transformation. (No long runs on Broadway-Senility.) (No “Soft”>“Hard.” “Soft”>“Hard.” (Culture or Bust.) (Culture Execution-Action. Execution-Action. (Do>Think.) (Do>Think.) Clean Sheet of Paper. Clean (Web2.0, Transparency, New Org Form—Itinerant Potential Machines.) (Web2.0, PSF-Brand You-Wow Projects. Up-Up-Up the VA Ladder. Up-Up-Up (Gamechanging Solutions-Eyepopping Experiences-Dream Merchants-Lovemarks.) (Gamechanging Weird. Weird. (Innovation “Easy.”) (Innovation Energy-Enthusiasm-Relentlessness. Excellence. Always. That’s a Big Big Number …. THREE BILLION BILLION NEW CAPITALISTS CAPITALISTS —Clyde Prestowitz Schools & Shifting Tectonic Plates In: "economics, technology, social customs and globalization." Out: Socialism in general ("one short chapter"). Chinese communism before the 1979 economic revolution ("a sentence"). Mao ("only once­­in a chapter on etiquette"). Source: The New York Times, p1, 0901.2006, on reported on revised history textbooks for high school seniors in Shanghai, China. “ There is no job that is Amer ica’s God­ given r ight anymore.” “ There is no job that is _____’s God­given r ight anymore.” “Income Confers Income No Immunity as No Jobs Migrate” Jobs —Headline/USA Today/02.2004 “Deutsche Bank Moves Half of Its Back-office Jobs to India”/ (500 of 900 Research) Research headline/FT/0327 December 9, 2005: “Ogre to Slay? Outsource It to Chinese” (New York Times, page 1—news section). The page “factory”: Fuzhou, China. The workers: youngsters logging 12-hour shifts. Their clientele: youngsters from “Seoul to San Francisco.” The “work”: The Chinese youngsters are playing the early levels of video games for their affluent “clients,” who want to avoid the pain and time associated with those annoying first few levels. “Forget China, India and the Internet: Economic Growth Is Driven by Women.” —Headline, Economist, April 15, 2006, Leader, page 14 That’s a small small Number …. 26 26 m 43 43 h Those are Big Big Numbers …. 1 Houston/ Houston/ Month/15 Savings, internal investment, external investment > 50% GDP 50% Those are Big Big Issues …. Unparalleled in “Our” Professional Lifetime Terrorism Middle East instability China screw-ups Globalization backlash Energy dependence Environmental threats Life sciences “Cold War” with China Fraying American fabric Debt H5N1 U.S. impotence in the face of Asia’s rise “This is a dangerous world and it is going to become more dangerous.” “We may not be interested in chaos but chaos is interested in us.” us Source: Robert Cooper, The Breaking of Nations: Order and Chaos in the Twenty-first Century EXCELLENCE. EVERYWHERE. EVERYWHERE. ASPIRATION. NECESSITY. “One Singaporean worker costs as much as … 3 … in Malaysia 8 … in Thailand 13 … in China 18 … in India.” Source: The Straits Times/2003 “Thaksinomics” (after Thaksin Shinawatra) “Bangkok “managed asset reflation” asset Fashion City”: (add to brand value of Thai textiles by demonstrating flair and design excellence) Source: The Straits Times/2004 Spain Portugal Italy Ireland Singapore Taiwan Thailand Malaysia Singapore Philippines UAE Oman Chile Botswana Romania New Zealand New “Better By Design”: A National Strategy NZ = Design Excellence Excellence “THE FUTURE BELONGS THE TO … SMALL POPULATIONS … WHO BUILD EMPIRES OF THE EMPIRES OF MIND … AND WHO IGNORE THE MIND TEMPTATION OF—OR DO NOT HAVE THE OPTION OF—EXPLOITING NATURAL RESOURCES.” Source: Juan Enriquez/As the Future Catches You Spain Portugal Italy Ireland Singapore Thailand Malaysia Singapore Philippines UAE Oman Chile Botswana Romania New Zealand Taiwan “ ‘MADE IN TAIWAN’: “ ‘ From Cheap Manufacturing to Chic Chic Branding ” —Headline/Advertising Age/06.05 Taiwan, Your Taiwan, Your Partner in InnoValue Poster/Bucharest/03.06 Spain Portugal Italy Ireland Singapore Thailand Malaysia Philippines Dubai Oman Chile Botswana Romania Australia New Zealand Taiwan EXCELLENCE. EVERYWHERE. EVERYWHERE. NECESSITY. ROOTS. Age of Agriculture Industrial Age Age of Information Intensification Age of Creation Intensification Age Creation Intensification Source: Murikami Teruyasu, Nomura Research Institute Agriculture Age (farmers) Industrial Age (factory workers) Information Age (knowledge workers) Conceptual Age (creators and empathizers) Source: Dan Pink, A Whole New Mind “ Human c reativit y is the ultimate economic resource.” —Richard Florida, The Rise of the Creative Class “ The Creative Age is a wide ­ open g ame .” —Richard Florida, The Rise of the Creative Class “You can’t build You a ‘real economy’ on services, finance, advertising, etc.” advertising, London circa 1976: deliberately aims st to be the “capital of the 21 “capital century” century” London circa 2006: Austin, Austin SF, Seattle, Boston, RaleighSF, Durham, Portland, Durham, Minneapolis, WashingtonMinneapolis, Baltimore, Sacramento, Baltimore, Denver Denver CI/Top10 Metro*: CI/Bottom10: Detroit, Norfolk, Cleveland, Milwaukee, Grand Rapids, Memphis, Jacksonville, Greensboro, New Orleans, Buffalo, Louisville *> 1M/49 total Source: Richard Florida, The Rise of the Creative Class EXCELLENCE. THE MANDATE. MANDATE. “If you don’t like If change, you’re going to like irrelevance even irrelevance less.” less.” —General Eric Shinseki, Chief of Staff. U. S. Army “It is not the strongest of It not the species that survives, nor the most intelligent, nor but the one most responsive to change.” —Charles Darwin to “The most The successful people are those who are good at ‘plan B’.” —James Yorke, mathematician, on chaos theory in The New Scientist “Forbes100” from 1917 to 1987 : 39 members of the 39 Class of ’17 were alive in ’87; 18 in ’87 F100; 18 F100 “survivors” significantly underperformed the market; under 2 GE Kodak GE Kodak just (2%), & , outperformed the market from out 1917 to 1987. S&P 500 from 1957 to 1997: 74 members of the Class of ’57 were alive in ’97; 74 12 (2.4%) of 500 outperformed the market from 1957 to 1997. 12 Source: Dick Foster & Sarah Kaplan, Creative Destruction: Why Companies That Are Built to Last Underperform the Market “I am often asked by would-be entrepreneurs seeking escape from life within huge corporate structures, ‘How do I build a small firm for Buy a very large one and just wait.” and myself?’ The answer seems obvious: —Paul Ormerod, Why Most Things Fail: Evolution, Extinction and Economics Welcome to the “Club of Shattered Dreams”: Of Korea’s Top 100 companies Top in 1955, only 7 were still on the list in 2004. The 1997 crisis “destroyed half of Korea’s half 30 largest conglomerates.” 30 Source: “KET Issue Report,” Kim Jong Nyun (14.05.2005) S&P Stability Ratings* 1985 Low Risk 41% Average Risk 24% High Risk 2006 35% 35% *Likelihood of stable long-term earnings growth Source: Fortune (2 October 2006) 13% 14% 73% Flat as a Pancake (Or Worse) Flat Wal*Mart … Dell … Intel … Home Depot … Microsoft … GE Day of Shame/end of a glorious era glorious “I do not accept personal responsibility for what happened.” — Patricia Dunn/0928.2006 “It is generally much easier to kill an or g anization than change it substantially.” “The difficulties arise from the inherent conflict between the need to control existing operations and the need to create the kind of environment that will permit new ideas to flourish—and old ones to We believe that most corporations will find it impossible to cor ossible match or outperform the market match erform without abandoning the assumption without tion of continuity. … The current apocalypse—the transition of die a timely death. … from a state of continuity to state of discontinuity—has the same suddenness as the trauma that beset civilization in 1000 A.D.” Richard Foster & Sarah Kaplan, “Creative Destruction” ( The McKinsey Quarterly) C.E.O. C.E.O. to C.D.O. C.D.O. DYB.com (Practical) Implication? Implication “Go for it!” (Why not— alternative is slow death, at best) Axiom: “We are in a brawl with no rules.” (PA) no Implication: “The world will not be kind to those who ‘play by the rules’.”* (TP) the Strategy: S.A.V./R.F.A. (RP/TP+) S.A.V./R.F.A. *Axiom: The microprocessor plays by the rules. Keep Austin Weird Keep “Active mutators in placid times tend to die off. They are selected against. Reluctant mutators in quickly changing times are also changing selected against.” against —Carl Sagan & Ann Druyan, Shadows of Forgotten Ancestors “Natural selection is death. ... Without huge amounts of death, organisms do not change over time. ... Death is the mother of structure. ... It took four billion years of death ... to invent the human mind ...” — The Cobra Event “The secret of fast progress is inefficiency, fast and furious and numerous failures.” —Kevin Kelly “ Uncertainty is the only thing to be sure of.” –Anthony Muh, head of investment in Asia, Citigroup Asset Management “The Silicon Valley of today is built less atop the spires of earlier triumphs than upon the rubble of earlier debacles.” —Newsweek/Paul Saffo TP#1*: Netscape! Netscape! *Where would you rather have worked for those 5 years, Netscape or IBM-HP-Microsoft-Oracle? (Where, 25 years from now, would you rather to be able to tell someone—e.g., grandchild—that you worked?) “A lot of companies in the Valley fail.” RMcK: “Maybe not enough fail.” “Maybe not enough fail.” RMcK: “What do you mean by that?” RN: “Whenever you fail, it “Whenever you fail, it means you’retrying new things.” RN: Source: Fast Company “Wealth in this new regime flows directly from innovation, not optimization. That is, wealth is not gained by perfecting the known, but by imperfectly seizing the unknown.” —Kevin Kelly, New Rules for the New Economy New Economy?! Sergey + Larry Sergey > Harvard/370 Harvard/ “Reward excellent failures. Punish Punish mediocre successes.” Phil Daniels, Sydney exec Joe J. Jones Joe J. Jones 1942 – 2006 HE WOULDA DONE SOME REALLY COOL STUFF BUT … HIS BOSS WOULDN’T LET HIM! “It is the foremost task—and It responsibility—of our generation to re-imagine enterprises and institutions, public public and private.” from the back cover of Re-imagine! EXCELLENCE. STARTERS. STARTERS. HORRORS. Radio City Music Hall September 2005 Franchise Lost! TP: [600] “ How many of you r eally crave a new Chevy?” “ Ford , GM and Chr y sler do not just make cars expensively … they make bad cars expensively.” My (Les’s) Dinner with Henri JUSWHATIZZITUMAKE? My (Les’s) Dinner with Henri JUST WHAT IS IT YOU MAKE? Sluggish + Obese + Unimaginative + More Sluggish + More Obese + More Unimaginative + Even More Sluggish + Even More Obese + Even More Unimaginative = NISSAN + RENAULT + N ISSAN GM = Innovative Challenger for Toyota???? Toyota???? ?????????????? ?????????????? Crappy Management (GM) + Crappy (GM) Arrogant-Overstretched Management (Carlos G) = Great (Carlos Management Management Oh, Great … Ford: Airplane guy. GM: CFO. Small cars HQ: LA. Big cars HQ: Dallas. Small cars HQ: Corporate HQ: Atlanta. CEO: Roger Enrico or Lou Gerstner or Meg Whitman. COO: Bob Nardelli. Chairman: George Steinbrenner or Jack Welch or Ross Perot. Vice­chairman & CFO: Warren Buffett. Chief Marketing Officer: Brenda Barnes. Chief Branding Officer: Phil Knight (or Howard Schultz). Chief Innovation Officer: Steve Jobs or Jeff Immelt. Chief/Supply Chain: Raid Wal*Mart or CostCo or Dell. Chief/Dealer Relations: Carl Sewell. “Not long ago, I heard one studio chief utter the unthinkable: ‘What ‘What would happen if I made a movie I actually looked forward to seeing?’ ” —Peter Bart, Editor in forward Chief, Variety; former Paramount exec, “Hollywood’s Model Doesn’t Produce Art, or Much Profit” (NYT/0721.06) Did one of ’em ever turn to the other and say: “Wow, I wonder what unimaginable new tools, otherwise not possible, will be brought will forth for my daughter for hter Alice, age 17, because Alice, of this deal?” Did one of ’em ever turn to the other and say: “Wow I wonder what unimaginable new tools, otherwise not possible, will be quickly will brought forth for our customers because of customers this deal?” this VALUE ADDED #1 ADDED EXCELLENCE. STARTERS. STARTERS. BASICS. K.I.S.S. P.P.C.E.E.E. P.P.C.E.E.E. People. Product. Clients. Execution. Enthusiasm. Excellence. “To me business isn’t about To wearing suits or pleasing stockholders. It’s about being true to yourself, your ideas and focusing on the essentials.” —Richard Branson essentials BASICS BASICS K.I.S.S. People. Product. Clients. Execution. Enthusiasm. Excellence. Resilience. “It is not the strongest of It not the species that survives, nor the most intelligent, nor but the one most responsive to change.” —Charles Darwin to BASICS BASICS K.I.S.S. BASICS BASICS K.I.S.S. People. Product. Clients. Execution. Enthusiasm. Excellence. Resilience. Relentlessness. “One of my superstitions had always been when I started to go anywhere or to do anything, not to not turn back, or stop, until the turn thing intended was accomplished.” —Grant "The reasonable man adapts himself to the world. The unreasonable one persists in trying to adapt the world to himself. Therefore, all to progress depends upon the unreasonable man.” unreasonable —GB Shaw, Man and Superman: The Revolutionists' Handbook. “Success seems to be Success largely a matter of hanging on after others have let go.” have —William Feather, author* (*c.f. Woody Allen: “90% of success is showing up.”) showing “The first 90% of a project takes 90% of the time. The last 10% takes the other 90% of the time.” —Richard Templar, The Rules of Management The BASICS BASICS K.I.S.S. BASICS BASICS K.I.S.S. People. Product. Clients. Execution. Enthusiasm. Excellence. Resilience. Relentlessness. Senility. Forget>“Learn” “ The problem is never how to get new, innovative thoughts into your mind, but how to g et the old ones out .” —Dee Hock “A pattern emphasized in the case studies in this book is the degree to which powerful competitors not only resist innovative threats, but actually resist all efforts to understand them, preferring to further their positions in older products. This results in a surge of productivity and performance that may take the old technology to unheard of heights. But in most cases this is a sign of impending death.” —Jim Utterback, Mastering the Dynamics of Innovation Wanted* ** : Corporate Senility! Senility! *Desperately! ** “The problem is never how to get new, innovative thoughts into your mind, but how to get the old ones out.” —Dee Hock People. Product. Client...
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