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LONG/249 Tom Peters’ EXCELLENCE. ALWAYS. MassMutual/Leaders Conference 2006 Washington/29July. Slides* at … tompeters.com *also “final” and “long #2”. 25. The Irreducible209+/ Sales122.
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LONG/249Tom Peters’EXCELLENCE. ALWAYS.MassMutual/Leaders Conference 2006Washington/29July
A frustrated participant at a seminar for investment bankers in Mauritius listened impatiently to my explanation of differences of opinion among me, Mike Porter, Gary Hamel, Jim Collins, etc. Finally, he’d had enough. “What, if anything,” he asked, “do you believe ‘for sure’?”I mumbled something, but his query started rumbling around in my mind. Three days later, wandering on a Sunday in London, the idea of “the irreducibles” occurred to me—and I started jotting down notes on stuff I do indeed believe “for sure.” Before I knew it, a few days later, the list had grown to 209 items. Hence “The Irreducible209” that follows.Tom Peters
“There is no job that is America’s God-given right anymore.”—Carly Fiorina/HP/January2004
“Deutsche Bank Moves Half of Its Back-office Jobs to India”/ headline/FT/0327 (500 of 900 Research)
“If you don’t like change, you’re going to like irrelevance even less.”—General Eric Shinseki, Chief of Staff. U. S. Army
“It is not the strongest of the species that survives, nor the most intelligent, but the one most responsive to change.”—Charles Darwin
“The most successful people are those who are good at plan B.”—James Yorke, mathematician, on chaos theory in The New Scientist
Franchise Lost!TP:“How many of you[600]reallycravea new Chevy?”NYC/IIR/061205
SynonymsPurityTranscendenceVirtueEleganceMajestyAntonymsMediocritySynonymsPurityTranscendenceVirtueEleganceMajestyAntonymsMediocrity
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”
ExIn*: 1982-2002/Forbes.comDJIA: $10,000 yields $85,000EI: $10,000 yields $140,050*Forbes/Excellence Index/Basket of 32 publicly traded stocks
“Them” “Us”Strategy EXECUTIONPlanning ActionMarketing Selling/SalesMarkets CustomersCustomers ClientsMicro-segmentation Big Stuff (Women, Boomers)Cost minimization Revenue maximizationSynergy/“Efficiencies” Decentralization“Strategic supplier Pioneering supplierProcess ProjectEffectiveness ExcellenceMen WomenLeadership Management + LeadershipStandardization Exceptionalism (53 = 53)Big clients COOL clientsPrestigious Board INTERESTING Board
Words that may NOT be used in my presence:“Motivate” “Market”
“In the end, management doesn’t change culture. Management invitesthe workforce itself to change the culture.”—Lou Gerstner
Words that MAY be used in my presence:“Invite” (v. “Motivate”) … “Sell” (v. “Market”) … “People” (we’d like to serve) (v. “Market segment”) … “Client” (v. “Customer”) “OJT/MFA” (v. “MBA”) … “Act”/ “Execute” (v. “Plan”) … “Talent” (v. “Worker”) … “Quest”/“Adventure-in-EXCELLENCE” (v. “Job”) … “Wow Project” (v. “Task”) … “Rockin’ (profit-makin’) PSF” (v. “Department”) … “Theater” (v. “Office”) … “Breathtaking Experience” (v. “Transaction” that “Exceeds expectations”) … “Talent Fanatics Inc” (v. “HR”) … “Brand You adventure” (v “Career development”) “Annual Report development session” … (v. “Employee evaluation”) … “Woman” (v. “Man”) …
Words that MAY be used in my presence:… “Wow!” (v. “Nice”) … “Bloody-minded” (v. “Committed”) … “Thank you! (v. “____”) … “Attack”/Innovate (v. “defend”/Entrench)… “Great stuff. Great people. ‘Do it’ fanatics.” (v. “shareholder value”) …“EXCELLENCE. ALWAYS.”(v. “Good work”) (v. “shareholder value”)
GOOD: Radically Thrilling Language! “Radically Thrilling.” —BMW Z4 (ad)
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.
Business* ** (*at its best):An emotional, vital, innovative, joyful, creative, entrepreneurial endeavor that elicits maximum concerted human potential in the wholehearted service of others.*****Excellence. Always.***Employees, Customers, Suppliers, Communities, Owners, Temporary partners
Business:The Ultimate Personal Development-Growth Experience.
“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
Sluggish + Obese + Unimaginative + More Sluggish + More Obese + More Unimaginative + Even More Sluggish + Even More Obese + Even More Unimaginative = Nissan + Renault + GM = Innovative Challenger for Toyota????
7X. 730A-800P. F12A.**’93-’03/10 yr annual return: CB: 29%; WM: 17%; HD: 16%. Mkt Cap: 48% p.a.