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Tom Peters’ EXCELLENCE. ALWAYS. SPL/enRICHMENT’06 Client Executive Symposium Rutherford/Napa Valley/16June 2006

Tom Peters’ EXCELLENCE. ALWAYS. SPL/enRICHMENT’06 Client Executive Symposium Rutherford/Napa Valley/16June 2006. 25. Slides* at … tompeters.com *also “long”. BONUS The Irreducible209. Goodnight and Good Luck . THREE BILLION NEW CAPITALISTS —Clyde Prestowitz. 43,000.

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Tom Peters’ EXCELLENCE. ALWAYS. SPL/enRICHMENT’06 Client Executive Symposium Rutherford/Napa Valley/16June 2006

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  1. Tom Peters’EXCELLENCE. ALWAYS.SPL/enRICHMENT’06Client Executive SymposiumRutherford/Napa Valley/16June 2006

  2. 25

  3. Slides* at …tompeters.com*also “long”

  4. BONUSTheIrreducible209

  5. Goodnight and Good Luck.

  6. THREE BILLION NEW CAPITALISTS—Clyde Prestowitz

  7. 43,000

  8. “Deutsche Bank Moves Half of Its Back-office Jobs to India”/ headline/FT/0327; 500 of 900 Research; JPMorgan Chase—30% back-office by 12.31.07

  9. Genentech09, Amgen09 > Merck09 (70K-3/394B-5)

  10. Good Morning and Good News.

  11. New Economy?!Sergey + Larry > Harvard/370

  12. EXCELLENCE. THE MANDATE.

  13. “If you don’t like change, you’re going to like irrelevance even less.”—General Eric Shinseki, Chief of Staff. U. S. Army

  14. “It is not the strongest of the species that survives, nor the most intelligent, but the one most responsive to change.”—Charles Darwin

  15. “We are in a brawl with no rules.”—Paul Allaire

  16. Sam’s Secret #1!

  17. “This is so simple it sounds stupid, but it is amazing how few oil people really understand that you only find oil if you drill wells.You may think you’re finding it when you’re drawing maps and studying logs, but you have to drill.” Source: The Hunters, by John Masters, Canadian O & G wildcatter

  18. “Rewardexcellent failures. Punishmediocre successes.”Phil Daniels, Sydney exec

  19. EXCELLENCE. THE WORD.

  20. SynonymsPurityTranscendenceVirtueEleganceMajestyAntonymsMediocritySynonymsPurityTranscendenceVirtueEleganceMajestyAntonymsMediocrity

  21. EXCELLENCE. GAMECHANGER.

  22. 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”

  23. ExIn*: 1982-2002/Forbes.comDJIA: $10,000 yields $85,000EI: $10,000 yields $140,050*Forbes/Excellence Index/Basket of 32 publicly traded stocks

  24. EXCELLENCE. ALWAYS.

  25. “Why in the world did you go to Siberia?”

  26. 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.

  27. Business* ** (*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

  28. Business:The Ultimate Creative Endeavor.

  29. Business:The Ultimate Personal Development-Growth Experience.

  30. Business:The Ultimate Transcendent Service Opportunity.

  31. SynonymsPurityTranscendenceVirtueEleganceMajestyAntonymsMediocritySynonymsPurityTranscendenceVirtueEleganceMajestyAntonymsMediocrity

  32. EXCELLENCE. INNOVATE. OR. DIE.

  33. “A focus on cost-cutting and efficiency has helped many organizations weather the downturn, but this approach will ultimately render them obsolete.Only the constant pursuit of innovation can ensure long-term success.”—Daniel Muzyka, Dean, Sauder School of Business, Univ of British Columbia (FT/09.17.04)

  34. Pathetic!

  35. “Forbes100” from 1917 to 1987: 39 members of the Class of ’17 were alive in ’87; 18 in ’87 F100; 18 F100 “survivors” underperformed the market by 20%; just 2 (2%), GE & Kodak, outperformed the market 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

  36. “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

  37. “I don’t believe in economies of scale.You don’t get better by being bigger. You get worse.”—Dick Kovacevich/Wells Fargo/Forbes/08.04 (ROA: Wells, 1.7%; Citi, 1.5%; BofA, 1.3%; J.P. Morgan Chase, 0.9%)

  38. “When asked to name just one big merger that had lived up to expectations, Leon Cooperman, former cochairman of Goldman Sachs’ Investment Policy Committee, answered:I’m sure there are success stories out there, but at this moment I draw a blank.”—Mark Sirower, The Synergy Trap

  39. More than $$$$#1R&D spending, last 25 years?

  40. GM

  41. What “We” Know “For Sure” About InnovationBig mergers [by & large] don’t workScale is over-ratedStrategic planning is the last refuge of scoundrelsFocus groups are counter-productive“Built to last” is a chimera (stupid)Success kills“Forgetting” is impossibleRe-imagine is a charming idea“Orderly innovation process” is an oxymoronic phrase (= Believed only by morons with ox-like brains)“Tipping points” are easy to identify … long after they will do you any good“Facts” aren’tAll information making it to the top is filtered to the point of danger and hilarity“Success stories” are the illusions of egomaniacs (and “gurus”)If you believe the memoirs of CEOs you should be institutionalized“Herd behavior” (XYZ is “hot”) is ubiquitous … and amusing“Top teams” are “Dittoheads”CEOs have little effect on performance“Expert” prediction is rarely better than rolling the dice

  42. Inno64: Innovation Strategies & Tactics

  43. Parallel universe/Exec Ed v res MBA End run regnant powers/JKC Find done deals-practicing mavericks/Stone-ReGo Bell curves2016 in 2006 Non-industry benchmarking Everything = Portfolio V.C.s all! Hot language/Wow-Astonish me-Insanely great-immortal-Make something great Lead customers/PW-Embraer Lead suppliers /Top decile R&D Weird alliances Mottos/Paul Arden (“Whatever You Think Think the Opposite”) Hire freaks/Enough weird people? Weird Boards!!!

  44. We become who we hang out with!

  45. Measure “Strangeness”/Portfolio QualityStaffConsultantsVendorsOut-sourcing Partners (#, Quality)Innovation Alliance PartnersCustomersCompetitors (who we “benchmark” against)Strategic Initiatives Product Portfolio (LineEx v. Leap)IS/IT ProjectsHQ LocationLunch MatesLanguageBoard

  46. EXCELLENCE. 4/40.

  47. 4/40

  48. De-cent-ral-iz-a-tion!

  49. Ex-e-cu-tion!

  50. “Execution is the jobof the business leader.”—Larry Bossidy & Ram Charan/ Execution: The Discipline of Getting Things Done

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