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LONG Tom Peters’ Excellence. Always. Innovate. Or Die. MasterCard Sales Leadership Meeting

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LONG Tom Peters’ Excellence. Always. Innovate. Or Die. MasterCard Sales Leadership Meeting

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  1. NOTE:To appreciate this presentation [and insure that it is not amess], you need Microsoft fonts:“Showcard Gothic,”“Ravie,”“Chiller”and “Verdana”

  2. LONG Tom Peters’ Excellence. Always. Innovate. Or Die. MasterCard Sales Leadership Meeting Vienna/18 October 2010 (Slides at tompeters.com)

  3. The Ascent of Money: A Financial History of the World —Niall Ferguson Against the Gods: The Remarkable Story of Risk—Peter Bernstein NGO/Bridges = Market-making

  4. The Ascent of Money: A Financial History of the World —Niall Ferguson Against the Gods: The Remarkable Story of Risk —Peter Bernstein NGO/Bridges = Market-making MasterCard MoneySend MasterCard OneSmart Social Card MasterCard Pay Pass MasterCard Mobile Payments Gateway Etc. Etc.

  5. Part ONE: Women Rule!

  6. 94%of loans to …women**Microlending; “Banker to the poor”; Grameen Bank; Muhammad Yunus; 2006 Nobel Peace Prize winner

  7. “CEMEX realized that women are the key drivers of savings in[Mexican]families.… They are entrepreneurial in nature, and they actively participate in the tanda system [neighborhood groups who pool money and save any that’s left over]. Regardless of whether they are homemakers or outside-the-home workers, they are responsible for any savings in the family. Patrimonio Hoy [Private Property Today, a CEMEX program to aid the poor in building homes] discovered that 70% of the women who saved were saving money in the tanda system to construct homes for their families. The men in the society consider their job done if they bring in their paycheck at the end of the day.”—C.K. Prahalad, from The Fortune at the Bottom of the Pyramid, on Lorenzo Zambrano and CEMEX, the Mexican company that’s the world’s #3 cement maker.

  8. “Forget China, India and the Internet: Economic Growth Is Driven by Women.” Source: Headline, Economist

  9. W > 2X (C + I)* • *“Women now drive the global economy. Globally, they control about $20 trillion in consumer spending, and that figure could climb as high as $28 trillion in the next five years. Their $13 trillion in total yearly earnings could reach $18 trillion in the same period. In aggregate, women represent a growth market bigger than China and India combined—more than twice as big in fact. Given those numbers, it would be foolish to ignore or underestimate the female consumer. And yet many companies do just that—even ones that are confidant that they have a winning strategy when it comes to women. Consider Dell’s …” • Source: Michael Silverstein and Kate Sayre, “The Female Economy,” HBR, 09.09

  10. “Women arethemajority market”—Fara Warner/The Power of the Purse

  11. “Goldman Sachs in Tokyo has developed an index of 115 companies poised to benefit from women’s increased purchasing power; over the past decade the value of shares in Goldman’s basket has risen by 96%, against the Tokyo stockmarket’s rise of 13%.”—Economist

  12. Cases! Cases! Cases!McDonald’s(“mom-centered” to “majority consumer”; not via kids)Home Depot(“Do it [everything!] Herself”)P&G(more than “house cleaner”) DeBeers(“right-hand rings”/$4B)AXA FinancialKodak(women = “emotional centers of the household”)Nike(> jock endorsements; new def sports; majority consumer)AvonBratz(young girls want “friends,” not a blond stereotype)Source: Fara Warner/The Power of the Purse

  13. Lowe’s!

  14. “One thing is certain: women’s rise in power, which is linked to the increase in wealth per capita, is happening in all domains and at all levels of society. Women are no longer content to provide efficient labour or to be consumers with rising budgets and more autonomy to spend. They are increasingly becoming directors, managers and entrepreneurs. Some studies have shown a correlation between the presence of women in managerial positions and a company’s financial results. “This is just the beginning. The phenomenon will only grow as girls prove to be more successful than boys in the school system and enroll in higher numbers in universities. For a number of observers, we have already entered the age of ‘WOMENOMICS,’ the economy as thought out and practiced by women. Those Chinese who desire that their only child be male may soon realise that a daughter could be a better investment. Bosses know full well that a team of both men and women is more creative and efficient than one comprised of only men.” Source: “Women Are Drivers of Global Growth,” Aude Zieseniss de Thuin, founder and president of the Women’s Forum for the Economy and Society (FT)

  15. “Power Women 100”/Forbes 25.10.1026 CEOs Public Companies:Vs. Men/Market: +28%* (*Post-appointment)Vs. Industry: +15%

  16. *Women decide*Women save*Women spend*Women rule

  17. *Women decide*Women save*Women spend*Women rule*In the developed world*In the developing world*The trend is accelerating

  18. Part Two: Innovate orDie

  19. “Data drawn from the real world attest to a fact that is beyond our control:Everything in existence tends to deteriorate.”—Norberto Odebrecht, Education Through Work

  20. “Mr. Foster and his McKinsey colleagues collected detailed performance data stretching back 40 years for 1,000 U.S. companies.They found that noneof the long-term survivors managed to outperform the market. Worse, the longer companies had been in the database, the worse they did.” —Financial Times

  21. #1

  22. try it. Try it. Try it. Try it. Try it. Try it. Try it. Try it. Screw it up. Try it. Try it. Try it. Try it. Try it. Try it. Try it. Screw it up. it. Try it. Try it. try it. Try it.Screw it up. Try it. Try it. Try it. 1/45

  23. “Experiment fearlessly”Source: BusinessWeek, Type A Organization Strategies/ “How to Hit a Moving Target”—Tactic #1

  24. “We made mistakes, of course. Most of them were omissions we didn’t think of when we initially wrote the software. We fixed them by doing it over and over, again and again. We do the same today. While our competitors are still sucking their thumbs trying to make the design perfect, we’re already on prototype version#5.By the time our rivals are ready with wires and screws, we are on version #10.It gets back to planning versus acting: We act from day one; others plan how toplan—for months.”—Bloomberg by Bloomberg

  25. Culture of Prototyping“Effective prototyping may be themost valuablecore competence an innovative organization can hope to have.”—Michael Schrage

  26. “In business, you reward people for taking risks. When it doesn’tworkout you promote them-because they were willing to try new things. If people tell me they skied all day and never fell down, I tell them to try a different mountain.”—Michael Bloomberg (BW/0625.07)

  27. “Fail. Forward. Fast.”High Tech CEO, Pennsylvania

  28. He who has the quickest “O.O.D.A. Loops”* wins!*Observe. Orient. Decide. Act. /Col. John Boyd

  29. Success 101:“Whoever tries the most stuff and screws the most stuff up and most rapidly launches the next try wins. Failures are not to be ‘tolerated,’ they are to be celebrated.”

  30. 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

  31. #2

  32. Little =BIG

  33. Big CARTS/Big BAGS = 1.5X/$B Source: Walmart/Frito Lay

  34. Socks = 10,000

  35. #3

  36. We are the company we keep

  37. The “We are what we eat” axiom:At its core, every (!!!) relationship-partnership decision (employee, vendor, customer, etc) is a strategic decision about:“Innovate, ‘Yes’ or ‘No’ ”

  38. 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

  39. CUSTOMERS:“Future-defining customers may account for only 2% to 3% of your total, but they represent a crucial window on the future.”—Adrian Slywotzky, Mercer Consultants

  40. “To grow, companies need to break out of a vicious cycle of competitive benchmarking and imitation.”—W. Chan Kim & Renée Mauborgne, “Think for Yourself —Stop Copying a Rival,” Financial Times

  41. Iron Innovation Equality Law:The quality and quantity and imaginativeness of innovation shall be the same in all functions—e.g., in HR and purchasing as much as in marketing or product development.*

  42. “Who’s the most interesting person you’ve met in the last 90 days? How do I get in touch with them?”—Fred Smith

  43. Vanity Fair:“What is your most marked characteristic?” Mike Bloomberg: “Curiosity.”

  44. Can you pass the …“Squint test”?

  45. “The Bottleneck Is at the Top of the Bottle”“Where are you likely to find people with the least diversity of experience, the largest investment in the past, and the greatest reverence for industry dogma:Atthetop!”— Gary Hamel/Harvard Business Review

  46. “d”iversity

  47. #4

  48. XFX = #1

  49. Never waste a lunch!

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