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Slides* at … tompeters *also “LONG”

Tom Peters’ X25 * : EXCELLENCE. ALWAYS. Rompetrol/Annual Management Meeting Paris/02 December 2006 *In Search of Excellence 1982-2007. Slides* at … tompeters.com *also “LONG”. EXCELLENCE. ALL . YOU. NEED. TO. KNOW. 25.

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Slides* at … tompeters *also “LONG”

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  1. Tom Peters’ X25*:EXCELLENCE. ALWAYS.Rompetrol/Annual Management MeetingParis/02 December 2006*In Search of Excellence 1982-2007

  2. Slides* at …tompeters.com*also “LONG”

  3. EXCELLENCE. ALL . YOU. NEED. TO. KNOW.

  4. 25

  5. EXCELLENCE. ALL. YOU. NEED. TO. KNOW.ANYWHERE.ANY MARKET.ANY TIME.

  6. Jim’s Group

  7. EX-CELL-ENCE. NOT .

  8. “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

  9. “Forbes100” from 1917 to 1987:39members of the Class of ’17 were alive in ’87; 18 in ’87 F100; 18 F100 “survivors” significantly underperformed the market; just 2 (2%), GE & Kodak, outperformed the market from 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

  10. Welcome to the “Club of Shattered Dreams”: Of Korea’s Top 100 companies in 1955, only7 were still on the list in 2004. The 1997 crisis “destroyed halfof Korea’s 30 largest conglomerates.”Source: “KET Issue Report,” Kim Jong Nyun (14.05.2005)

  11. S&P Stability Ratings*19852006Low Risk 41% 13%Average Risk 24% 14%High Risk35% 73%*Likelihood of stable long-term earnings growthSource: Fortune (2 October 2006)

  12. The last word: There is no last word.

  13. Flat as a Pancake (Or Worse)Wal*Mart … Dell … Intel … Home Depot … Microsoft … GE

  14. EXCELLENCE. STARTERS.BASICS.K.I.S.S.

  15. “Why in the world did you go to Siberia?”

  16. Raging Success = P-SQUARED. C. E-CUBED.

  17. People.Product.Clients.Execution.Enthusiasm.Excellence.

  18. 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”

  19. The HayGroup Six1. Accountability2. X-functional coordination3. Execution/K.I.S.S.4. Talent management5. Growth, Customers take priority6. Self-management, Empathy, Teamwork

  20. EXCELLENCE. ASPIRATION.

  21. The Peters Principles:Enthusiasm. Emotion. Excellence. Energy. Excitement. Service. Growth. Creativity. Imagination. Vitality. Joy. Surprise. Independence. Spirit. Community. Limitless human potential. Diversity. Profit. Innovation. Design. Quality. Entrepreneurialism. Wow.

  22. Business* (*at its “excellent” best) can be:An emotional, vital, audacious, innovative, joyful, frightening, risky, creative, entrepreneurial endeavor that breathes life & fire into our work & life & elicits maximum concerted human potential in the wholehearted effort to help others **[**employees, clients, suppliers, communities, owners, temporary partners]succeed & profit & imagine & reach places they’d never dreamed they could go.

  23. “In-sane-ly-great”

  24. EXCELLENCE. DEFINED.AGENDA. SETTER.

  25. Great Companies … SETTHEAGENDA.*(PERIOD.)* “disturb the sleep of …

  26. TP#1*:Netscape!*Where would you rather have worked for those 5 years, Netscape or IBM-HP-Microsoft-Oracle? (Where, 25 years from now, would you rather to be able to tell someone—e.g., grandchild—that you worked?)

  27. Built to LastvsBuilt to Change/Rock the World

  28. EXCELLENCE. INNOVATE. OR. DIE.

  29. “It is not the strongest of the species that survives, nor the most intelligent, but the one mostresponsive tochange.”—Charles Darwin

  30. EXCELLENCE. INNOVATE. ALL. WRONG.

  31. “I don’t believe in economies of scale.You don’t get better by being bigger. You get worse.”—Dick Kovacevich/Wells Fargo

  32. “When asked to name just 1 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

  33. “Not a single company that qualified as having made a sustained transformation ignited its leap with a big acquisition or merger.Moreover, comparison companies—those that failed to make a leap or, if they did, failed to sustain it—often tried to make themselves great with a big acquisition or merger. They failed to grasp the simple truth that while you can buy your way to growth, you cannot buy your way to greatness.”—Jim Collins/Time/2004

  34. Spinoffs systematically perform better than IPOs … track record, profits … “freed from the confines of the parent … more entrepreneurial, more nimble”—Jerry Knight/ Washington Post/ 08.05

  35. Private Equity-financed Firm, Best *Case*Focus! Focus! Focus!*In a [Big] hurry*CEO/Top team, “skin in the game”*CEO, 100% of time on the biz*Merit! Merit!*Motivated oversight*Worst case: Rape & Pillage

  36. There’s“A”and then there’s“A.”

  37. EXCELLENCE. INNOVATE. TACTICS.

  38. 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. try it. Try it. Try it. try it. Try it.Try it. Try it. Try it. Try it.

  39. READY.FIRE!AIM.Ross Perot (vs “Aim! Aim! Aim!”/EDS vs GM/1985)

  40. “Experiment fearlessly”Source: BW0821.06, Type A Organization Strategies/ “How to Hit a Moving Target”—Tactic #1

  41. “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

  42. “You miss 100percent of the shots you never take.”—Wayne Gretzky

  43. 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”

  44. tolerate [encourage?] failure

  45. Sam’s Secret #1!

  46. “Rewardexcellent failures. Punishmediocre successes.”Phil Daniels, Sydney exec

  47. Speed/ Tempo

  48. “We don’t sell insurance anymore.Wesell speed.”Peter Lewis, Progressive

  49. We become who we spend time 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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