Tom Peters/Y2K Seminar Kuwait 29 May 2000

1. Tom Peters/Y2K Seminar Kuwait29 May 2000

2. BiasesAmericanCalifornianSilicon Valley Resident [29 years]***I ardently believe in the power of free markets and animated entrepreneurs.

3. 1 Year = 1.5 Wal*Marts03.27.99: $167B03.27.00: $555BP.S.: Wal*Mart = #8 in 2000

4. Pentium III 800MHz: $42,893.00/#Hermes Scarf: $1,964.29Saving Private Ryan on DVD: $874.75Mercedes-Benz: $18.98Hot-rolled steel: $0.19Source: Fortune (3.20.00)

5. “Researchers say they have found a way to mate human cells with circuitry in a ‘bionic chip’ … The tiny device – smaller and thinner than a strand of hair – combines a healthy human cell with an electronic circuitry chip.”AP/AOL/02-00

6. No Wiggle Room!“Incrementalism is innovation’s worst enemy.” Nicholas Negroponte

7. Just Say No …“I don’t intend to be known as the ‘King of the Tinkerers.’ ”CEO, large financial services company (New York, 5-99)

8. “It means nothing less than the total reinvention of this company.”

9. Jacques’ New New FordFord + MSN CarPointFord + Yahoo!Ford + OracleFord + HP/MCIWorldcomEtc.Etc.

10. “There’s going to be a fundamental change in the global economy unlike anything we have had since the cavemen began bartering.”Arnold Baker, Chief Economist, Sandia National Laboratories

11. “I genuinely believe we are living through the greatest intellectual moment in history.”Matt Ridley, Genome

12. Seminar Y2KBrand Everything:Distinct or Extinct!

13. Forget > Learn“The problem is never how to get new, innovative thoughts into your mind, but how to get old ones out.”Dee Hock

14. “When asked to name just one big merger that had lived up to expectations, the 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

15. “Acquisitions are about buying market share. Our challenge is to create markets. There is a big difference.” Peter Job, CEO, Reuters

16. “Our ideal acquisition is a small startup that has a great technology product on the drawing board that is going to come out in six to twelve months. We buy the engineers and the next generation product. …” John Chambers, Cisco

17. “R & D”Intel’s venture fund: 275 investments, $8BSource: Fast Company , eCompany

18. Net World!Act now. Analyze later.Avram Miller

19. C.E.O. to C.D.O.

20. “It used to be that the big ate the small. Now the fast eat the slow.”Geoff Yang, IVP/ (Institutional Venture Partners)

21. E.g.: Craig Venter/Celera Genomics

22. The Gales of Creative Destruction+29M = -44M + 73M+4M = +4M - 0M

23. Brand InsideBrand Org!

24. 108 X 5vs. 8 X 1** 540 vs. 8

25. And Now the Equivalent …White Collar Revolution!

26. The Pincer 5“Destructive” entrepreneurs/ Global Competition“White Collar Robots”THE INTERNET![E.g.: GM + Ford + DaimlerChrysler]Global Outsourcing[E.g.: India, Mexico]Speed!!

27. RR on “Assetless” [JB] Sara Lee“The most profitable businesses in the future will act as knowledge brokers, linking insights into what’s available with insights into the customer’s individual needs and preferences.”

28. The “&-!!+#$% in the middle”*Jim Clark on Healtheon/WebMD* ’twixt docs, patients, insurers and providers; $275B of $400B in waste; source: Michael Lewis,The New New Thing

29. “We want to be the air traffic controllers of electrons.”Bob Nardelli, GE Power Systems

30. Buzzsaw.comBuilders, Owners, Architects, Contractors, Suppliers$3T industry5,300 commercial bldg. projects’ specs on-line; +70 per day

31. 12/31/00 (per Newsweek 04.24.00)75% of U.S. universities will have on-line offerings/ 5.8 million students“Unbundling” profs’ jobs (star lecturer, facilitator)/ Repackage “content” as multi-media “event”355 studies: Equal results!

32. These are …L.A.D.T.I.R.S.**Life-and-death-total-industry-reinvention-struggles

33. Brand InsideBrand Work!

34. So … What will be the Basic Building Block of the New Org Unit?

35. Why are there no books on how to create a “Cool, Rocking, WOW-producing Finance Department”?

36. NAPM: You are the Rock Stars of the B2B Age!

37. “support function” / “cost center” / “bureaucratic drag”or …“Rock Stars of the ‘Age of Talent’ ”

38. Department Headto …Managing Partner, HR [IS, etc.] Inc.

39. PSF 1.0Professional Service Firm Conversion Kit / Release 1.0

40. The “7Ps” of PSF 1.0Projects!Passion!Provocation!Partnership!Politics!Professionalism!Performance!

41. “Reward excellent failures. Punish mediocre successes.”Phil Daniels, Sydney exec

42. “You really got to me. So many of our information technology projects take on a life of their own, and I know they’ll never end up as more than ‘mediocre successes.’ ” CEO, F100 financial services company (10-98)

43. “Every project we take on starts with a question: How can we do what’s never been done before?”Stuart Hornery, CEO, Lend Lease

44. Measures • WOW! • Beauty! • Raving Fans! • Impact!

45. Culture of Prototyping“Effective prototyping may be the most valuable core competence an innovative organization can hope to have.”Michael Schrage

46. “You can’t be a serious innovator unless and until you are ready, willing and able to seriously play. ‘Serious play’ is not an oxymoron; it is the essence of innovation.”Michael Schrage, Serious Play

47. “To Do”: Now! • List all projects • Carefully describe a “WOW Outcome” for you and the Client • Score (!)all projects on WOW, Beauty, Impact, Raving Fan-hood • Pick one project with a high combined score • Draft a one-page New Description that emphasizes WOW, Beauty, etc. • Circulate and edit … for three days • Reduce to 5 bullet points

48. The greatest dangerfor most of usis not that our aim istoo highand we miss it,but that it istoo lowand we reach it.Michelangelo

49. Characteristics of the “Also Rans” “minimize risk” “respect the chain of command” “support the boss” “make budget” Source: Fortune on “most admired global corporations” (10/26/98)

50. 1) Turn ignition key.2) Shift into drive.3) Press foot firmly on the throat of mediocrity.Source: Mercedes ad