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Celebrating the 50th birthday with a trip to New Zealand. Reflections on the journey, quotes, and insights on change, survival, and excellence. A tribute to creativity and innovation.
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Ho hum: 2+ weeks in New Zealand …PfizerFordGapChryslerYahoomicrosoftwal*mart??????
“It is not the strongest of the species that survives, nor the most intelligent, but the one most responsive to change.”—Charles Darwin
“Better By Design”: A National StrategyNZ = Design Excellence
“The Creative Age is awide-open game.”—Richard Florida, The Rise of the Creative Class
Tom Peters’ X25*EXCELLENCE. ALWAYS.Lisbon/21 March 2007Happy Birthday #50/European Union*In Search of Excellence 1982-2007
“I am often asked by would-be entrepreneurs seeking escape from life within huge corporate structures, ‘How do I build a small firm for myself?’ The answer seems obvious:Buy a very large one and just wait.”—Paul Ormerod, Why Most Things Fail: Evolution, Extinction and Economics
“Forbes100” from 1917 to 1987:39members of the Class of ’17 were alive in ’87; 18 in ’87 F100; 18 F100 “survivors” significantly underperformed the market; just 2 (2%), GE & Kodak, outperformed the market from 1917 to 1987.S&P 500 from 1957 to 1997:74 members of the Class of ’57 were alive in ’97; 12(2.4%) of 500 outperformed the market from 1957 to 1997.Source: Dick Foster & Sarah Kaplan, Creative Destruction: Why Companies That Are Built to Last Underperform the Market
Welcome to the “Club of Shattered Dreams”: Of Korea’s Top 100 companies in 1955, only 7 were still on the list in 2004. The 1997 crisis “destroyed halfof Korea’s 30 largest conglomerates.”Source: “KET Issue Report,” Kim Jong Nyun (14.05.2005)
S&P Stability Ratings*19852006Low Risk 41% 13%Average Risk 24% 14%High Risk35% 73%*Likelihood of stable long-term earnings growthSource: Fortune (2 October 2006)
“It is generally much easier tokill an organizationthan change it substantially.”—Kevin Kelly, Out of Control
Forget>“Learn”“The problem is never how to get new, innovative thoughts into your mind, but how to get the old ones out.”—Dee Hock
TP#1*: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?)
Excellence1982: The Bedrock “Eight Basics” 1. A Bias for ACTION 2. Close to the CUSTOMER 3. Autonomy and Entrepreneurship 4. Productivity Through PEOPLE 5. Hands On, Value-Driven 6. Stick to the Knitting 7. Simple Form, Lean Staff 8. Simultaneous Loose-Tight Properties
ExIn*: 1982-2002/Forbes.comDJIA: $10,000 yields$85,000EI: $10,000 yields$140,050*Forbes/Excellence Index/Basket of 32 publicly traded stocks
Enterprise* ** (*at its best):An emotional, vital, innovative, joyful, creative, entrepreneurial endeavor that elicits maximum concerted human potential in the wholehearted service of others.*****Excellence. Always.***Employees, Customers, Suppliers, Communities, Owners, Temporary partners
The Peters Principles: Enthusiasm. Emotion. Excellence. Energy. Excitement. Service. Growth. Creativity. Imagination. Vitality. Joy. Surprise. Independence. Spirit. Community. Limitless human potential. Diversity. Profit. Innovation. Design. Quality. Entrepreneurialism. Wow.
Jim’s Mowing Canada Jim’s Mowing UK Jim’s Antennas Jim’s Bookkeeping Jim’s Building Maintenance Jim’s Carpet Cleaning Jim’s Car Cleaning Jim’s Computer Services Jim’s Dog Wash Jim’s Driving School Jim’s Fencing Jim’s Floors Jim’s Painting Jim’s Paving Jim’s Pergolas [gazebos] Jim’s Pool Care Jim’s Pressure Cleaning Jim’s Roofing Jim’s Security Doors Jim’s Trees Jim’s Window Cleaning Jim’s Windscreens Note: Download, free, Jim Penman’s book: What Will They Franchise Next? The Story of Jim’s Group
“Analysts … preferred cost cutting,as long as they could see two or three years of EPS growth. I preached revenue and the analysts’ eyes would glaze over. Now revenue is ‘in’ because so many got caught, and earnings went to hell.They said, ‘Oh my gosh, you need revenues to grow earnings over time.’ Well, Duh!”—Dick Kovacevich, Wells Fargo
“Our whole story is growing revenue.”—Vernon Hill (Top-line driven; standard is bottom-line driven by cost cutting)
“If you want to gain competitive advantage fast, the best place to do it is in … sales.”—Larry Webb, John Laing Homes
“I don’t believe in economies of scale.You don’t get better by being bigger. You get worse.”—Dick Kovacevich/Wells Fargo
“Not a single company that qualified as having made a sustained transformation ignited its leap with a big acquisition or merger.Moreover, comparison companies—those that failed to make a leap or, if they did, failed to sustain it—often tried to make themselves great with a big acquisition or merger. They failed to grasp the simple truth that while you can buy your way to growth, you cannot buy your way to greatness.”—Jim Collins/Time/2004
