dubai/0416.2007. crave franchise lost! tp: “ how many of you [600] really crave a new chevy?”
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Dubai/ Dubai/ 0416.200416.20
0707
Franchise Lost!
TP: “How many of you [600] really
cravecrave a new Chevy?”
““Our whole Our whole story is story is growing growing
revenue.”revenue.” —Vernon Hill (Top-line driven; standard —Vernon Hill (Top-line driven; standard
is bottom-line driven by cost cutting)is bottom-line driven by cost cutting)
The Commerce Bank ModelThe Commerce Bank Model
“cost cutting “cost cutting is a death is a death spiral.”spiral.”
Source: Source: Fans! Not customers. How Commerce Bank Fans! Not customers. How Commerce Bank Created a Super-growth Business in a No-growth Created a Super-growth Business in a No-growth
IndustryIndustry, Vernon Hill & Bob Andelman, Vernon Hill & Bob Andelman
P P == RR –– CC
“If I could have chosen not to tackle the IBM culture head-on, I probably wouldn’t
have. My bias coming in was toward strategy, analysis and measurement. In comparison, changing the attitude and behaviors of hundreds of thousands of people is very, very hard. [Yet] [Yet] I I came to see in my time came to see in my time at IBM that culture isn’t at IBM that culture isn’t just one aspect of the just one aspect of the
game—it is the gamegame—it is the game.”.” —Lou Gerstner, Who Says Elephants Can’t Dance
Hard Is SoftHard Is SoftSoft Is HardSoft Is Hard
Hard Is Soft (#Hard Is Soft (#ss))Soft Is Hard (people)Soft Is Hard (people)
Jim’s Jim’s GroupGroup
Basement Basement Systems inc/ Systems inc/ seymour ctseymour ct
Tom Peters’ X25*Tom Peters’ X25*
EXCELLENCEXCELLENCE. ALWAYS.E. ALWAYS.
1919thth Annual Buyouts Seminar/East Annual Buyouts Seminar/EastNew York 18 April 2007New York 18 April 2007
**In Search of ExcellenceIn Search of Excellence 1982-2007 1982-2007
Slides at …
tompeters.comtompeters.com
New Zealand 2007New Zealand 2007
Ho hum: 2+ weeks in New Zealand …Ho hum: 2+ weeks in New Zealand …
PfizerPfizerFordFordGapGap
ChryslerChryslerYahooYahoo
microsoftmicrosoftwal*martwal*mart
????????????
The The lastlast word: word: There There is is nono “last “last
word.”word.”
“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 Buy a very large one very large one and just waitand just wait.”.”
—Paul Ormerod, Why Most Things Fail: Evolution, Extinction and Economics
““It is It is notnot the the strongest of the strongest of the
species that survives, species that survives, nornor the most the most
intelligent, but intelligent, but the the one most one most responsive responsive
to changeto change.”.” —Charles Darwin
Why in the Why in the
World did World did youyou
go to go to SiberiaSiberia??
The Peters PrinciThe Peters Principplesles:: Enthusiasm. Enthusiasm. Emotion. Emotion. ExcellenceExcellence..
Energy. Excitement. Service. Energy. Excitement. Service. Growth. Creativity. Growth. Creativity.
Imagination. Vitality. Joy. Imagination. Vitality. Joy. Surprise. Independence. Spirit. Surprise. Independence. Spirit. Community. Limitless human Community. Limitless human
potential. Diversity. potential. Diversity. Profit.Profit. Innovation. Design. Innovation. Design. Quality. Entrepreneurialism. Quality. Entrepreneurialism.
Wow!Wow!
EXCELLENCE. EXCELLENCE.
INNOVATE. INNOVATE. OR. OR. DIE.DIE.
“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 Not a single company that qualified as having made a qualified as having made a sustained transformation sustained transformation ignited its leap with a big ignited its leap with a big
acquisition or mergeracquisition or merger.. Moreover, Moreover, comparison companies—those that failed to make a comparison companies—those that failed to make a leap or, if they did, failed to sustain it—often tried to leap or, if they did, failed to sustain it—often tried to
make themselves great with amake themselves great with a big acquisition or merger. They failed to grasp the big acquisition or merger. They failed to grasp the
simple truth that while you can buysimple truth that while you can buy your way to growth, you cannot buy your way to your way to growth, you cannot buy your way to
greatness.”greatness.” —Jim Collins/—Jim Collins/TimeTime/2004/2004
SpinoffsSpinoffs systematically perform better than IPOs … track
record, profits … “freed from the “freed from the confines of the parent … more confines of the parent … more entrepreneurial, more nimbleentrepreneurial, more nimble”
—Jerry Knight/ Washington Post/ 08.05
InnoTacsInnoTacs
try it. Try it. Try it. try it. Try it. Try it. Try it. Try it. Try it.Try it. Try it. Try it.
Try it. Try it. Try it. Try it. Screw it Screw it up.up. Try it. Try it. Try Try it. Try it. Try
it. Try it. Try it. Try it. it. Try it. Try it. Try it. Try it. Try it. Screw it up.Screw it up. it. it.
Try it. Try it. try it. Try it. Try it. try it. Try it.Try it. Screw it up.Screw it up. Try it. Try it. Try it. Try it. Try it. Try it.
do do things.things.
““We have a We have a ‘strategic plan.’ ‘strategic plan.’ It’s called It’s called doing doing thingsthings.”.” — Herb Kelleher
drill.drill.
“This is so simple it sounds stupid, but it is amazing how few oil people really
understand that you only you only find oil if you find oil if you drill wellsdrill 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
Screw. Screw. things.things.
Up.Up.
Sam’s Sam’s Secret Secret
#1!#1!
try.try.Miss.Miss.try.try.
READY.READY.FIRE!FIRE!AIM.AIM.
Ross Perot (vs “Aim! Aim! Aim!” /EDS vs GM/1985)
S.A.S.A.V.V.
No try. No try. No deal.No deal.
““You miss You miss
100100%% of of the shots you the shots you never take.”never take.”
—Wayne—Wayne GretzkyGretzky
EXCELLENCE. EXCELLENCE.
4/404/40
DECENTRALIZATIODECENTRALIZATION.N.
EXECUTION.EXECUTION.ACCOUnTABILITY.ACCOUnTABILITY.
66:15A.M.:15A.M.
Up,Up, Up,Up, Up, Up,
UpUp
the Value-added Ladder.
This is notnot a “mature
category.”
This is an “undistinguished category.”
“The ‘surplus society’ has a surplus of
similarsimilar companies, employing
similarsimilar people, with
similarsimilar educational backgrounds,
coming up with similarsimilar ideas,
producing similarsimilar things, with
similarsimilar prices and
ssimilarimilar quality.” —Kjell Nordström and Jonas Ridderstråle, Funky Business
LEAVE ITLEAVE IT
TO TO BEAVER.BEAVER.
Trapper: <$20<$20 per beaver pelt.
Source: WSJ
wdcp/“Wildlife wdcp/“Wildlife Damage-control Damage-control
Professional”:Professional”: $$150150 to “remove” “problem to “remove” “problem
beaver”; beaver”; $$750750-$-$1,0001,000 for flood-control piping … for flood-control piping … so that beavers can stay.so that beavers can stay.
Source: Source: WSJWSJ
Top 10 “Tattoo Brands”*
Harley .… 18.9%Harley .… 18.9%Disney .... 14.8Disney .... 14.8
Coke …. 7.7Coke …. 7.7Google .... 6.6Google .... 6.6Pepsi .... 6.1Pepsi .... 6.1Rolex …. 5.6Rolex …. 5.6Nike …. 4.6Nike …. 4.6
Adidas …. 3.1Adidas …. 3.1Absolut …. 2.6Absolut …. 2.6
Nintendo …. 1.5Nintendo …. 1.5
*BRANDsense: Build Powerful Brands through Touch, Taste, Smell, Sight, and Sound, Martin Lindstrom
Experience: “Rebel Lifestyle!”
“What we sell is the “What we sell is the ability for a 43-year-old ability for a 43-year-old accountant to dress in accountant to dress in
black leather, ride black leather, ride through small towns and through small towns and
have people be afraidhave people be afraid of him.” of him.”
HarleyHarley exec, quoted in Results-Based Leadership
““NEW” NEW” MARKETS.MARKETS.
women.women.BOOMERBOOMER
S.S.GEEZERSGEEZERS
..
““Forget Forget ChinaChina, , IndiaIndia and the and the
InternetInternet: Economic : Economic Growth Is Driven Growth Is Driven
by by WomenWomen.”.” —Headline, Economist, April 15, 2006, Leader, page 14
10 UNASSAILABLE REASONS WOMEN RULE10 UNASSAILABLE REASONS WOMEN RULEWomenWomen make [all] the financial decisions. make [all] the financial decisions.WomenWomen control [all] the wealth. control [all] the wealth.WomenWomen [substantially] outlive men. [substantially] outlive men.WomenWomen start most of the new businesses. start most of the new businesses.Women’sWomen’s work force participation rates have work force participation rates have soared worldwide.soared worldwide.WomenWomen are closing in on “same pay for same are closing in on “same pay for same job.”job.”WomenWomen are penetrating senior ranks rapidly are penetrating senior ranks rapidly [even if the pace is slow for the corner [even if the pace is slow for the corner office per se].office per se].Women’s Women’s leadership strengths are exceptionally wellleadership strengths are exceptionally well aligned with new organizational effectiveness &aligned with new organizational effectiveness & value-added imperatives.value-added imperatives.WomenWomen are better salespersons than men. are better salespersons than men.WomenWomen buy [almost] everything—commercial buy [almost] everything—commercial as well as consumer goods.as well as consumer goods.
SoSo whatwhat exactlyexactly isis … … thethe pointpoint ofof menmen??
women.women.BOOMERBOOMER
S.S.GEEZERSGEEZERS
..
!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!““People turning 50 People turning 50 today have today have more more
thanthan halfhalf of of their adult life their adult life
ahead of them.”ahead of them.” —Bill Novelli, 50+: Igniting a Revolution to Reinvent America
2000-2010 Stats
18-44: -1%-1%55+: ++2121%%(55-64: ++4747%%)
EXCELLENCE. EXCELLENCE.
BEDROCK.BEDROCK.LEADERSHIP.LEADERSHIP.
9Ps. 9Ps.
PURPOSEPURPOSE..PASSIONPASSION..PotentialPotential..PresencePresence..PersonalPersonal..
PERSISTENCEPERSISTENCE..PEOPLEPEOPLE. . PotentPotent..
PositivePositive..
““People want to be part People want to be part of something larger than of something larger than themselvesthemselves.. They want to They want to
be part of something they’re be part of something they’re really really proudproud of, that they’ll of, that they’ll
fight fight forfor,, sacrifice sacrifice forfor , , trusttrust.”.” —Howard Schultz, Starbucks (IBD/09.05)
PURPOSEPURPOSE..
PASSIONPASSION..PotentialPotential..PresencePresence..PersonalPersonal..
PERSISTENCEPERSISTENCE..PEOPLEPEOPLE. . PotentPotent..
PositivePositive..
““Nothing is so Nothing is so contagious as contagious as enthusiasm.”enthusiasm.”
—Samuel Taylor Coleridge
PURPOSEPURPOSE..PASSIONPASSION..
PotentialPotential..PresencePresence..PersonalPersonal..
PERSISTENCEPERSISTENCE..PEOPLEPEOPLE. . PotentPotent..
PositivePositive..
“The role of the Director is to create a space where the actors and actresses can become become more than they’ve ever more than they’ve ever been before, more than been before, more than
they’ve dreamed of they’ve dreamed of beingbeing.”.” —Robert Altman, Oscar acceptance speech
“In the end, management doesn’t
change culture. Management
invitesinvites the workforce itself to change the culture.”
—Lou Gerstner
PURPOSEPURPOSE..PASSIONPASSION..PotentialPotential..
PresencePresence..PersonalPersonal..
PERSISTENCEPERSISTENCE..PEOPLEPEOPLE. . PotentPotent..
PositivePositive..
2255
PURPOSEPURPOSE..PASSIONPASSION..PotentialPotential..PresencePresence..
PersonalPersonal..PERSISTENCEPERSISTENCE..
PEOPLEPEOPLE. . PotentPotent..
PositivePositive..
““You must You must bebe the change you the change you
wish to see in the wish to see in the world.”world.”
Gandhi
““Courtesies of a small Courtesies of a small and trivial character are and trivial character are
the ones which strike the ones which strike deepest in the grateful deepest in the grateful
and appreciating heart.”and appreciating heart.”
—Henry Clay
“A man without A man without a smiling face a smiling face
must not open a must not open a shop.”shop.” —Chinese Proverb
PURPOSEPURPOSE..PASSIONPASSION..PotentialPotential..PresencePresence..PersonalPersonal..
PERSISTENCEPERSISTENCE..PEOPLEPEOPLE. . PotentPotent..
PositivePositive..
RelentlessRelentless:: “One of “One of my superstitions had always been my superstitions had always been when I started to go anywhere or when I started to go anywhere or
to do anything,to do anything, notnot to to turnturn backback ,, or stop, or stop,
until the thing intended was until the thing intended was accomplished.”accomplished.” —Grant
PURPOSEPURPOSE..PASSIONPASSION..PotentialPotential..PresencePresence..PersonalPersonal..
PERSISTENCEPERSISTENCE..
PEOPLEPEOPLE. . PotentPotent..
PositivePositive..
““Leaders Leaders
‘‘dodo’’ people. people.
Period.”Period.” —Anon.
“We believe companies can increase their market cap 50 percent in 3 years. Steve Macadam at Georgia-
Pacific … changed 2020 of his 4040 box plant managers
to put more talented, higher paid managers in charge. He increased profitability from
$$2525 million to $$8080 million in 22 years.”
—Ed Michaels, War for Talent
A review of Jack and Suzy Welch’s A review of Jack and Suzy Welch’s WinningWinning claims there are but claims there are but two key differentiators that set GE “culture” apart from the herd:two key differentiators that set GE “culture” apart from the herd:
FirstFirst:: Separating financial forecasting and performance Separating financial forecasting and performance measurement.measurement. Performance measurement based, as it usually is, on budgeting Performance measurement based, as it usually is, on budgeting leads to an epidemic of gaming the system. GE’s performance measurement is leads to an epidemic of gaming the system. GE’s performance measurement is divorced from budgeting—and instead reflects how you do relative to your past divorced from budgeting—and instead reflects how you do relative to your past performance and relative to competitors’ performance; i.e., it’s about how you performance and relative to competitors’ performance; i.e., it’s about how you actually do in the context of what happened in the real world, not as compared to a actually do in the context of what happened in the real world, not as compared to a gamed-abstract plan developed last year. gamed-abstract plan developed last year.
Second: Putting Putting HRHR on a par with on a par with finance and finance and marketing.marketing.
PURPOSEPURPOSE..PASSIONPASSION..PotentialPotential..PresencePresence..PersonalPersonal..
PERSISTENCEPERSISTENCE..PEOPLEPEOPLE. .
PotentPotent..PositivePositive..
Kevin Roberts’ Credo
11. Ready. Fire! Aim.. Ready. Fire! Aim.2. If it ain’t broke ... Break it!2. If it ain’t broke ... Break it!3. Hire crazies.3. Hire crazies.4. Ask dumb questions.4. Ask dumb questions.5. Pursue failure.5. Pursue failure.6. Lead, follow ... or get out of the way!6. Lead, follow ... or get out of the way!7. Spread confusion.7. Spread confusion.8. Ditch your office.8. Ditch your office.9. Read odd stuff.9. Read odd stuff.
10. Avoid moderationAvoid moderation!!
PURPOSEPURPOSE..PASSIONPASSION..PotentialPotential..PresencePresence..PersonalPersonal..
PERSISTENCEPERSISTENCE..PEOPLEPEOPLE. . PotentPotent..
PositivePositive..
On NELSON: “[other] “[other] admirals more admirals more frightened of frightened of losing than losing than
anxious to win”anxious to win”
PURPOSEPURPOSE..PASSIONPASSION..PotentialPotential..PresencePresence..PersonalPersonal..
PERSISTENCEPERSISTENCE..PEOPLEPEOPLE. . PotentPotent..
PositivePositive..
"Life is not a journey to the grave with the intention of arriving safely in one pretty
and well preserved piece, but to skid across the line
broadside, thoroughly used up, worn out, leaking oil,
shouting ‘GERONIMO!’GERONIMO!’ ” —Bill McKenna, professional motorcycle racer
(Cycle magazine 02.1982)
EXEXCELLE CELLE ALWALWAYSAYS..THE.THE.END.END.
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