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Tom Peters’ Re-Imagine! Business Excellence in a Disruptive Age Stockholm/18October2004

Tom Peters’ Re-Imagine! Business Excellence in a Disruptive Age Stockholm/18October2004. 26. Slides at … tompeters.com. Re-imagine! Summer 2004: Not Your Father’s World I.

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Tom Peters’ Re-Imagine! Business Excellence in a Disruptive Age Stockholm/18October2004

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  1. Tom Peters’ Re-Imagine!Business Excellence in a Disruptive AgeStockholm/18October2004

  2. 26

  3. Slides at …tompeters.com

  4. Re-imagine!Summer 2004: Not Your Father’s World I.

  5. “China’s size does not merely enable low-cost manufacturing; it forces it. Increasingly, it is what Chinese businesses and consumers choose for themselves that determines how the American economy operates.”—Ted Fishman/“The Chinese Century”/The New York Times Magazine /07.04.04

  6. “When the Silk Road Gets Paved”/Forbes Global/09.04Express highways: 168 miles in ’89 … 18,500 in ’03 … 51,000 in ’08 (v. U.S. Interstate: 46,500)Implications: $200M Intel plant in Chengdu (pop. 9.9M); 1/3rd Shanghai wage rate

  7. International Herald Tribune /09.13.2004: p.1/600 foreign R&D labs in China, 200 new per year

  8. 60,000**New factories in China opened by foreigners/2000-2003/Edward Gresser, Progressive Policy Institute/Wall Street Journal 09.27.04

  9. 26

  10. Re-imagine!Summer 2004: Not Your Father’s World II.

  11. “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)

  12. “We’re now entering a new phase of business where the group will be a franchising and management company where brandmanagement is central.”—David Webster, Chairman, InterContinental Hotels Group“InterContinental will now have far more to do with brandownership than hotel ownership.”—James Dawson of Charles Stanley (brokerage)Source: International Herald Tribune, 09.16, on the sacking of CEO Richard North, whose entire background is in finance

  13. The Case.

  14. A Coherent Story: Context-Solution-BedrockContext1: Intense Pressures(China/Tech/Competition)Context2: Painful/Pitiful Adjustment(Slow, Incremental, Mergers)Solution1: New Organization(Technology,Web+ Revolution, Virtual-“BestSourcing,”“PSF” “nugget”)Solution2: No Choice: Value-added Strategy(Services- Solutions-Experiences-DreamFulfillment “Ladder”)Solution3: “Aesthetic” “VA” Capstone(Design-Brands- Beyond Brands to ????)Solution4:New Markets (Women, Boomers-Geezers)Bedrock1: Innovation(New Work, Speed, Weird, Revolution)Bedrock2: Talent(Best, Creative, Entrepreneurial-Brand You, Schools)Bedrock3: Leadership(Passion, Bravado, Energy-Speed)

  15. I. NEW BUSINESS. NEW CONTEXT.

  16. Re-imagine Everything: All Bets Are Off.

  17. JobsNew TechnologyGlobalizationSecurity

  18. “Income Confers No Immunity as Jobs Migrate”—Headline/USA Today/02.04

  19. “One Singaporean workercosts as much as …3 … in Malaysia 8 … in Thailand 13 … in China 18 … in India.”Source: The Straits Times/08.18.03

  20. “Thaksinomics” (after Taksin Shinawatra, PM)/ “Bangkok Fashion City”/ “managed asset reflation” (add to brand value of Thai textiles by demonstrating flair and design excellence)Source: The Straits Times/03.04.2004

  21. Agriculture Age (farmers)Industrial Age (factory workers)Information Age (knowledge workers)Conceptual Age (creators and empathizers)Source: Dan Pink, A Whole New Mind

  22. JobsTechnologyGlobalizationSecurity

  23. “A bureaucrat is an expensive microchip.”Dan Sullivan, consultant and executive coach

  24. E.g. …Jeff Immelt: 75% of “admin, back room, finance” “digitalized” in 3 years.Source: BW (01.28.02)

  25. “UPS used to be a trucking company with technology.Now it’s a technology company with trucks.”—Forbes

  26. JobsTechnologyGlobalizationSecurity

  27. “The world has arrived at a rare strategic inflection point where nearly half its population—living in China, India and Russia—have been integrated into the global market economy, many of them highly educated workers, who can do just about any job in the world. We’re talking about three billion people.”—Craig Barrett/Intel/01.08.2004

  28. JobsTechnologyGlobalizationSecurity

  29. “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.”Source: Robert Cooper, The Breaking of Nations: Order and Chaos in the Twenty-first Century

  30. 2. Re-imagine Permanence: The Emperor Has No Clothes!

  31. 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

  32. “Good management was the most powerful reason [leading firms] failed to stay atop their industries.Precisely because these firms listened to their customers, invested aggressively in technologies that would provide their customers more and better products of the sort they wanted, and because they carefully studied market trends and systematically allocated investment capital to innovations that promised the best returns, they lost their positions of leadership.”Clayton Christensen, The Innovator’s Dilemma

  33. “The corporation as we know it, which is now 120 years old, isnot likely to survive the next 25 years.Legally and financially, yes, but not structurally and economically.”Peter Drucker, Business 2.0

  34. II. NEW BUSINESS. NEW TECH/ORG.

  35. 3. Re-imagine Organizing I: IS/IT Leads the (Virtual) Way!

  36. Productivity!McKesson 2002-2003: Revenue … +$7B Employees … +500Source: USA Today/06.14.04

  37. “Ebusiness is about rebuilding the organization from the ground up. Most companies today are not built to exploit the Internet. Their business processes, their approvals, their hierarchies, the number of people they employ … all of that is wrong for running an ebusiness.”Ray Lane, Kleiner Perkins

  38. 5% F500 have CIO on Board: “While some of the world’s most admired companies—Tesco, Wal*Mart—are transforming the business landscape by including technology experts on their boards, the vast majority are missing out on ways to boost productivity, competitiveness and shareholder value.”Source: Burson-Marsteller

  39. “Organizations will still be critically important in the world, but as ‘organizers,’ not ‘employers’!”— Charles Handy

  40. Ford: “Vehicle brand owner”(“design, engineer, and market, but not actually make”)Source: The Company, John Micklethwait & Adrian Wooldridge

  41. 07.04/TP In Nagano …Revenue: $10BFTE: 1**Maybe

  42. Not “out sourcing”Not “off shoring”Not “near shoring”Not “in sourcing”but …“Best Sourcing”

  43. 4. Re-imagine the Organizing II: The Professional Service Firm (“PSF”) Imperative.

  44. Answer: PSF![Professional Service Firm]Department Headto …Managing Partner, HR [IS, etc.] Inc.

  45. “Typically in a mortgage company or financial services company, ‘risk management’ is an overhead, not a revenue center. We’ve become more than that.We pay for ourselves, and we actually make money for the company.”—Frank Eichorn, Director of Credit Risk Data Management Group, Wells Fargo Home Mortgage (Source: sas.com)

  46. III. NEW BUSINESS. NEW VALUE PROPOSITION.

  47. 5. Re-imagine Business’ Basic Value Proposition:PSFs Unbound/ The “Solutions Imperative.”

  48. “The ‘surplus society’ has a surplus of similar companies, employing similarpeople, with similar educational backgrounds, coming up with similarideas, producing similar things, with similarprices and similarquality.”Kjell Nordström and Jonas Ridderstråle, Funky Business

  49. “We make over three new product announcements a day. Can you remember them? Our customers can’t!”Carly Fiorina

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