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Slides at … tompeters

Tom Peters’ Re-Ima g ine ! Leading Chan g e , Driving Innovation , Achieving Excellence AERCE/Madrid/21March2006. Slides at … tompeters.com. Re-imagine! Not Your Father’s World I. THREE BILLION NEW CAPITALISTS —Clyde Prestowitz. Re-imagine! Not Your Father’s World II.

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Slides at … tompeters

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  1. Tom Peters’Re-Imagine!Leading Change, Driving Innovation,Achieving ExcellenceAERCE/Madrid/21March2006

  2. Slides at …tompeters.com

  3. Re-imagine!Not Your Father’s World I.

  4. THREE BILLION NEW CAPITALISTS—Clyde Prestowitz

  5. Re-imagine!Not Your Father’s World II.

  6. “Income Confers No Immunity as Jobs Migrate”—Headline/USA Today/02.2004

  7. “There is no job that is America’s God-given right anymore.”—Carly Fiorina/HP/January2004

  8. Sydney Morning Herald/ 25October2005Qantas.Lay off thousands of mechanics.Maintenance to China.

  9. “There is no job that is Australia’sGod-given right anymore.”—Tom Peters/10.26.2005

  10. Re-imagine! Not Your Father’s World III.

  11. “A focus on cost-cutting and efficiency has helped many organizations survive, 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

  12. “[The commitment to speed—e.g., Nissan 10 months] is being driven by a new innovation imperative. Competition is more intense than ever because of the rise of the Asian powerhouses and the spread of disruptive new Internet technologies and business models.Companies realize that all of their attention to efficiency in the past half-decade was fine—but it’s not nearly enough.If they are to thrive in this hyper-competitive environment, they must innovate more and faster.”—BW cover story, “Speed Demons,” 27March2006

  13. The General’s Story. (And Darwin’s)

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

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

  16. Everybody’s Story.

  17. “One Singaporean workercosts as much as …3 … in Malaysia 8 … in Thailand 13 … in China 18 … in India.”Source: The Straits Times/2003

  18. “One Singaporean workercosts as much as …3 … in Malaysia8 … in Thailand 13 … in China 18 … in India.”Source: The Straits Times/2003

  19. “Thaksinomics” (after Thaksin 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/2004

  20. Better By Design: A National StrategyNZ = Design Excellence

  21. New ZealandThailandSpainPortugalIrelandSingaporeTaiwan PhilippinesUAEChile

  22. “ ‘MADE IN TAIWAN’: From Cheap Manufacturing to Chic Branding”—Headline/Advertising Age/06.05

  23. Taiwan, Your Partner in InnoValuePoster/Bucharest/03.06

  24. 1. Re-imagine Permanence: The Emperor Has No Clothes!

  25. “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

  26. “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

  27. Lessons Learned. GE. Me.

  28. 4/40

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

  30. Ex-e-cu-tion!

  31. Ac-count-a-bil-ity!

  32. 6:15A.M.

  33. 2. Re-imagine:InnovateorDie!!

  34. No Option!

  35. “Under his former boss, Jack Welch, the skills GE prized above all others were cost-cutting, efficiency and deal-making. What mattered was the continual improvement of operations, and that mindset helped the $152 billion industrial and finance behemoth become a marvel of earnings consistency. Immelt hasn’t turned his back on the old ways.But in his GE, the new imperatives are risk-taking, sophisticated marketing and, above all, innovation.”—BW/2005

  36. Resist!

  37. “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

  38. Different!**“Dramatic Difference” (DH), “Remarkable Point of view” (SG)

  39. “Companies have defined so much ‘best practice’ that they are now more or less identical.”—Jesper Kunde, Unique Now ... or Never

  40. “[Immelt] is now identifying technologies with which GE will …systematically set out to build entirely new industries”—Strategy+Business, Fall 2005

  41. Summary:WallopWal*Mart16**Or: Why it’s so unbelievably easy to beat a GIANT Company

  42. The “Small Guys” Guide: Wallop Wal*Mart16 *Niche-aimed. (Never, ever “all things for all people,” a “mini-Wal*Mart.) *Never attack the monsters head on! (Instead steal niche business and lukewarm customers.) *“Dramatically Different” (La Difference ... within our community, our industry regionally, etc … is as obvious as the end of one’s nose!) (THIS IS WHERE MOST MIDGETS COME UP SHORT.) *Compete on value/experience/intimacy, not price. (You ain’t gonna beat the behemoths on cost-price in 9.99 out of 10 cases.) *Emotional bond with Clients, Vendors. (BEAT THE BIGGIES ON EMOTION/CONNECTION!!)

  43. Focus!

  44. Focus:“All Strategy Is Local:True competitive advantages are harder to find and maintain than people realize. The odds are best in tightly drawn markets, not big, sprawling ones”—Title/ Bruce Greenwald & Judd Kahn/HBR09.05

  45. Big WinnersLousy industry … Specialty (No competition) … Smaller than competitors4 Traits: Sweet spot … Agility … Discipline … FOCUSSource: Alfred Marcus, Big Winners and Big Losers: The 4 Secrets of Long-term Business and Failure

  46. “We will not, I repeat not, pretend to be ‘all things to all people.’”—CEO, Investec (03.06)

  47. Easy!

  48. Innovation’s Saviors-in-WaitingDisgruntled CustomersOff-the-Scope CompetitorsRogue EmployeesFringe SuppliersWayne Burkan, Wide Angle Vision: Beat the Competition by Focusing on Fringe Competitors, Lost Customers, and Rogue Employees

  49. We become who we hang out with!

  50. 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

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