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Re-Imagine! Business Excellence in a Disruptive Age

This presentation by Tom Peters explores the need for businesses to embrace change and innovation in order to thrive in a disruptive age. It highlights the rise of Asia and the integration of billions of highly educated workers into the global market economy. The presentation also emphasizes the importance of embracing unconventional talent, challenging traditional industry behavior, and the destruction imperative of innovation. It concludes with a call to constantly re-imagine and re-invent businesses in order to stay ahead in an uncertain and rapidly changing world.

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Re-Imagine! Business Excellence in a Disruptive Age

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  1. Tom Peters’ Re-Imagine!Business Excellence in a Disruptive AgeNew York /05.06.2004

  2. Slides at …tompeters.com

  3. “Uncertainty is the only thing to be sure of.”—Anthony Muh,head of investment in Asia, Citigroup Asset Management“If you don’t like change, you’re going to like irrelevance even less.”—General Eric Shinseki, Chief of Staff, U. S. Army

  4. Montgomery Ward … Kmart … Sears … Macy’s … DEC … Wang … Compaq … Chase Manhattan … American Motors … Chrysler … U. S. Steel … Bethlehem Steel … AT&T … Soviet Union …

  5. Wal*Mart … Dell … Microsoft … U.S.A. …

  6. All Bets Are Off.

  7. “14MILLION service jobs are in danger of being shipped overseas”—The Dobbs Report/USN&WR/11.03/re new UCB study

  8. “Income Confers No Immunity as Jobs Migrate”—Headline/USA Today/02.04

  9. “One Singaporean workercosts as much as …3 … in Malaysia 8 … in Thailand 13 … in China 18 … in India.”Source: The Straits Times/08.18.03

  10. “Thaksinomics” (after Taksin 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/03.04.2004

  11. “There is no job that is America’s God-given right anymore.”—Carly Fiorina/ HP/ 01.08.2004

  12. “Asia’s rise is the economic event of our age. Should it proceed as it has over the last few decades, it will bring the two centuries of global domination by Europe and, subsequently, its giant North American offshoot to an end.” —Financial Times (09.22.2003)

  13. “The world has arrived at a rare strategic inflection point where nearly half its population—living in China, India and Russia—have been integrated into the global market economy, many of them highly educated workers, who can do just about any job in the world. We’re talking about three billion people.”—Craig Barrett/Intel/01.08.2004

  14. “This is a dangerous world and it is going to become more dangerous.”“We may not be interested in chaos but chaos is interested in us.”Source: Robert Cooper, The Breaking of Nations: Order and Chaos in the Twenty-first Century

  15. “We are in abrawl with no rules.”Paul Allaire

  16. S.A.V.

  17. Successful Businesses’ Dozen Truths: TP’s 30-Year Perspective1. Insanely Great & Quirky Talent.2. Disrespect for Tradition.3. Totally Passionate (to the Point of Irrationality) Belief in What We Are Here to Do.4. Utter Disbelief at the Bullshit that Marks “Normal Industry Behavior.”5. A Maniacal Bias for Execution … and Utter Contempt for Those Who Don’t “Get It.”6. Speed Demons.7. Up or Out. (Meritocracy Is Thy Name. Sycophancy Is Thy Scourge.)8. Passionate Hatred of Bureaucracy.9. Willingness to Lead the Customer … and Take the Heat Associated Therewith. (Mantra: Satan Invented Focus Groups to Derail True Believers.)10. “Reward Excellent Failures. Punish Mediocre Successes.” 11. Courage to Stand Alone on One’s Record of Accomplishment Against All the Forces of Conventional Wisdom.12. A Crystal Clear Understanding of Brand Power.

  18. 2. The Destruction Imperative.

  19. “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

  20. 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

  21. “Good management was the most powerful reason [leading firms] failed to stay atop their industries.Precisely because these firms listened to their customers, invested aggressively in technologies that would provide their customers more and better products of the sort they wanted, and because they carefully studied market trends and systematically allocated investment capital to innovations that promised the best returns, they lost their positions of leadership.”Clayton Christensen, The Innovator’s Dilemma

  22. Forget>“Learn”“The problem is never how to get new, innovative thoughts into your mind, but how to get the old ones out.”Dee Hock

  23. “Acquisitions are about buying market share. Our challenge is to create markets. There is a big difference.” Peter Job, CEO, Reuters

  24. Market Share, Anyone?240 industries: Market-share leader is ROA leader29% of the time.Source: Donald V. Potter, Wall Street Journal

  25. No Wiggle Room!“Incrementalism is innovation’s worst enemy.” Nicholas Negroponte

  26. “Beware of the tyranny of making Small Changes to Small Things. Rather, make Big Changes to Big Things.”—Roger Enrico, former Chairman, PepsiCo

  27. 2A. Yo, Jim . Or:The Case for … Technicolor!

  28. I. Good to GreatII. Quiet, Humble Leaders

  29. I. Good to GreatII. Quiet, Humble Leaders

  30. Good to Great: Fannie Mae … Kroger … Walgreens … Philip Morris … Pitney Bowes … Abbott … Kimberly-Clark … Wells Fargo

  31. Great Companies … SETTHEAGENDA. (Period.)

  32. AGENDA SETTERS: “Set the Table”/ Pioneers/ Questors/ AdventurersUS Steel … Ford … Macy’s … Sears … Litton Industries … ITT …The Gap …Limited … Wal*Mart …P&G … 3M … Intel … IBM … Apple … Nokia … Cisco … Dell … MCI … Sun …Oracle … Microsoft … Enron … Schwab … GE … Southwest … Laker …People Express… Ogilvy … Chiat/Day … Virgin … eBay … Amazon … Sony … BMW … CNN …

  33. I. Good to GreatII. Quiet, Humble Leaders

  34. Huh?“Humility: The Surprise Factor in Leadership … bosses with Gung-ho Qualities and Charisma May Be Out of Fashion” —Headline/FT/re JCollins/10.03 (TP: scribble: “Nelson, Wellington, Montgomery, Disraeli, Churchill, Thatcher”)

  35. WellingtonNelsonDisraeliChurchillMontgomeryThatcher

  36. “Humble” Pastels?T. Paine/P. Henry/A. Hamilton/T. Jefferson/B. FranklinA. Lincoln/U.S. Grant/W.T. ShermanTR/FDR/LBJ/RR/JFKPatton/Monty/HalseyM.L. King/C. de Gaulle/M. Gandhi/W. ChurchillPicasso/Mozart/Copernicus/Newton/Einstein/Djarassi/Watson H. Clinton/G. Steinem/I. Gandhi/G. Meir/M. Thatcher E. Shockley/A. Grove/J. Welch/L. Gerstner/L. Ellison/B. Gates/S. Jobs/S. McNealy/T. Turner/R. Murdoch/W. Wriston A. Carnegie/J.P. Morgan/H. Ford/S. Honda/J.D. Rockefeller/T.A. Edison Rummy/Norm/Henry/Wolfie Elizabeth Cady Stanton/Susan B. Anthony/Martha Cary Thomas/Carrie Chapman Catt/Alice Paul/Anna Elizabeth Dickinson/Arabella Babb Mansfield/Margaret Sanger

  37. “You can’t behave in a calm, rational manner. You’ve got to be out there on the lunatic fringe.”— Jack Welch

  38. “In Italy for 30 years under the Borgias they had warfare, terror, murder, bloodshed—and produced Michelangelo, da Vinci and the Renaissance. In Switzerland they had brotherly love, 500 years of democracy and peace, and what did they produce—the cuckoo clock.”Orson Welles, as Harry Lime, in The Third Man

  39. 3. The “PSF Solution”:The Professional Service Firm Model.

  40. Sarah: “ Daddy, what do you do?”Daddy: “I’m a ‘cost center.’ ”

  41. Answer: PSF![Professional Service Firm]Department Headto …Managing Partner, HR [IS, etc.] Inc.

  42. 4. The Heart of the Value Added Revolution: PSFs Unbound/ The “Solutions Imperative.”

  43. “While everything may be better, it is also increasingly the same.”Paul Goldberger on retail, “The Sameness of Things,”The New York Times

  44. “Customers will try ‘low cost providers’ … because the Majors have not given them any clear reason not to.”Leading Insurance Industry Analyst

  45. “The ‘surplus society’ has a surplus of similar companies, employing similarpeople, with similar educational backgrounds, coming up with similarideas, producing similar things, with similarprices and similarquality.”Kjell Nordström and Jonas Ridderstråle, Funky Business

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

  47. “We make over three new product announcements a day. Can you remember them? Our customers can’t!”Carly Fiorina

  48. 09.11.2000: HP bids $18,000,000,000for PricewaterhouseCoopersconsulting business!

  49. “These days, building the best server isn’t enough. That’s the price of entry.”Ann Livermore, Hewlett-Packard

  50. Gerstner’s IBM: Systems Integrator of choice. Global Services: $35B.Pledge/’99: Business Partner Charter. 72 strategic partners, aim for 200. Drop many in-house programs/products. (BW/12.01).

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