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Slides at … tompeters

Discover the power of excellence and how it can revolutionize your business. Learn the basics, embrace innovation, and unleash your full potential.

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Slides at … tompeters

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

  2. Slides at …tompeters.com

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

  4. 25

  5. 7X. 730A-800P. F12A.**’93-’03/10 yr annual return: CB: 29%; WM: 17%; HD: 16%. Mkt Cap: 48% p.a.

  6. Wegmans

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

  8. Jim’s Group

  9. EX-CELL-ENCE. NOT .

  10. “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

  11. “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

  12. 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)

  13. 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)

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

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

  16. “It is generally much easier tokill an organizationthan change it substantially.”—Kevin Kelly, Out of Control

  17. C.E.O.to C.D.O.

  18. “Wealth in this new regime flows directly from innovation, not optimization. That is, wealth is not gained by perfecting the known, but by imperfectly seizing the unknown.”—Kevin Kelly, New Rules for the New Economy

  19. EXCELLENCE. STARTERS.BASICS.K.I.S.S.

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

  21. People.Product.Clients.Execution.Enthusiasm.Excellence.

  22. EXCELLENCE. THE WORD.

  23. SynonymsPurityTranscendenceVirtueEleganceMajestyAntonymsMediocritySynonymsPurityTranscendenceVirtueEleganceMajestyAntonymsMediocrity

  24. EXCELLENCE. GAMECHANGER.

  25. 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”

  26. EXCELLENCE. ASPIRATION.

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

  28. 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.

  29. 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.

  30. Business:The Ultimate Creative Endeavor.

  31. Business:The Ultimate Personal Development-Growth Experience.

  32. Business:The Ultimate Transcendent Service Opportunity.

  33. “To me business isn’t about wearing suits or pleasing stockholders. It’s about being true to yourself, your ideas and focusing on the essentials.”—Richard Branson

  34. “Astonish me!”(SD).“Build something great!”(HY).“Make it immortal!”(DO)“Insanely great” (SJ)

  35. “In-sane-ly-great”

  36. EXCELLENCE.“THEM.”“US.”

  37. “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

  38. “Them” “Us”Big Mid-sizeGrowth by merger Organic growthBuy market share Create NEW marketsEfficient, streamlined Value-creating “PSF” “department” Certainty-predictability Ambiguity-opportunityFearful of losing Aggressive pursuit of winningPlan PrototypeCareful evaluation Another prototypeRevised plan Another prototypePeople/Employees TalentEffective HR department Rockin’ Talent Development Center of ExcellenceBenchmark against the Benchmark against the “best”-“industry leader” “coolest”

  39. “Them” “Us”Benchmark “Future”markOrderly career progression “Up or Out” (PDQ)Head HeartIQ EQ“Professional” PassionateStoic, humble leaders Noisy, emotional “characters” in chargeHire for Resume Hire for intangiblesMeasured-thoughtful Relentless, pig-headedapproach determinationTeamwork comes first Teamwork and disruptive individuals equal billingListen to customers Lead customersCustomer “involvement” Intimate-Seamless customer inter-twining

  40. “Them” “Us”MBM (Management MBWA by memo)MBA MFAShareholder Value Great people-product rule comes first Work smart Work hardBuilt to last Built to Rock the WorldReward successes Reward (EXCELLENT) failuresQuality first! Design 1TQuality first Innovation 1THigh-quality Jaw-dropping Experience transactionCVs demo consistent CVs feature Magic Moments performanceGood grades Cool stuffOperational excellence World-rocking INNOVATION

  41. “Them” “Us”Brand LovemarkBest analysis wins Best STORY wins“Beyond politics”Politics-is-life, the rest is detailsOutsource Bestsource“Motivate” Send on QUESTS“Motivate” InviteMeasured languageHOT languageProduct-Service Gamechanging SOLUTION, Thrilling EXPERIENCE, DREAM come true, LOVEMARKPastel Technicolor BetterDifferent“Mission success”“Mission EXCELLENCE”Very goodEXCELLENCE. ALWAYS.

  42. EXCELLENCE. DEFINED.

  43. EXCELLENCE. DEFINED.AGENDA. SETTER.

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

  45. AGENDA SETTERS: “Set the Table”/ Pioneers/ Questors/ AdventurersUS Steel … Ford … Toyota … Sears … GM … ITT …The Gap …Limited …Wal*Mart…Tesco…P&G … 3M …Intel… IBM …Apple…Nokia…Cisco… Dell… MCI … Sun …Microsoft…Google… Enron …Schwab…GE… Laker … Southwest … People Express …Ogilvy…Virgin…eBay…Amazon… Sony…Amgen…BMW… CNN … Nike

  46. Built to Last vs Built for Impact“But what if [former head of strategic planning at Royal Dutch Shell] Arie De Geus is wrong in suggesting, in The Living Company, that firms should aspire to live forever? Greatness is fleeting and, for corporations, it will become ever more fleeting.The ultimate aim of a business organization, an artist, an athlete or a stockbroker may be to explode in a dramatic frenzy of value creation during a short space of time, rather than to live forever.”—Kjell Nordström and Jonas Ridderstråle,Funky Business

  47. 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?)

  48. Built to LastvsBuilt to Change/Rock the World

  49. GM25/50-75: “Built to last”????

  50. “Life is occupied in both perpetuating itself and in surpassing itself. If all it does is maintain itself, then living is only not dying.”—Simone de Beauvoir “… Longevity has its place, but I’m not concerned about that now. I just want to do God’s will, and He’s allowed me to go up the mountain. And I’ve looked over. And I have seen the Promised Land. And I don’t mind. … I may not get there with you. …”—MLK/Memphis

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