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SEOUL 14 September 2006

SEOUL 14 September 2006. . “Everyone lives by selling something.” – Robert Louis Stevenson.

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SEOUL 14 September 2006

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  1. SEOUL 14 September 2006

  2. . “Everyone lives by selling something.” – Robert Louis Stevenson

  3. A Few Biases You Should Know About*I am not a macro-economist.*I am exceptionally biased by 30 years (1970-2000) in Silicon Valley.*I would rather work for eBay than BankAmerica.*I believe that the Giant Merger Game is the single greatest waste of energy in the world of business.*Economies of scale are wildly over-rated.*I find the entire notion of “career” to be disturbing and a little silly.*I find the notion of “built to last” hilarious.*Between 1965 and 1980 I turned 179.9 degrees from “Mr Big Government” to “Mr ‘Cool’ Entrepreneur.” (Thank you, Frank Perdue.)*Joseph Schumpeter (“gales of creative destruction”) and F.A. Hayek are my economist “gods”; JK Galbraith is my bete noir.*“Innovation” is a wonderfully messy & chaotic process—not amenable to “strategic plans.”*I believe in Luck. (Fooled by Randomness—best book I’ve ever read.)

  4. A Few Biases You Should Know About*I find most strategic plans (and strategic planners) to be amusing.*I am not … Mike Porter.*I am not … Peter Drucker.*I am not … Jim Collins.*I believe that the resilience of Giant Companies is wildly-absurdly over-rated.*I believe that America’s productivity edge comes from car dealers more than Giant Cos.*No “business model” is “the last word.”*I am a Great Believer in “the basics”: product, people, customers, execution. (Hence there is nothing very interesting, save one thing, in In Search of Excellence.)*I believe that EXCELLENCE is a legitimate aspiration for each of us; and that any lesser aspiration is unconscionable.

  5. Tom Peters’EXCELLENCE. ALWAYS.XAlways/KMACSEOUL/14 September 2006

  6. Slides at …tompeters.com

  7. TheIrreducible209+/Sales122/60TIBs

  8. 1. Hare 1, Tortoise 0. (Hare-y times.) 2. Tempo. (O.O.D.A.) 3. MBWA. 4. Appreciation. (“Motivator” #1.) (Can’t be faked. Good.) 5. Decency. 6. Hurry. 7. Time out. 8. One matters. 9. Big change. Short time. (Alt not work.) 10. Excellence. Always. 11. Passion. Energy. Hustle. Enthusiasm. Exuberance. (Move mountains. No alt.) 12. You must care. 13. Emotion. 14. Hard is soft. (Soft is hard.)

  9. EXCELLENCE. ALL YOU NEED TO KNOW.

  10. 25

  11. That’s a Big Number ….

  12. THREE BILLION NEW CAPITALISTS—Clyde Prestowitz

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

  14. “There is no job that is _____’s God-given right anymore.”

  15. “Deutsche Bank Moves Half of Its Back-office Jobs to India”/ headline/FT/0327(500 of 900 Research)

  16. That’s a smallNumber ….

  17. 26m

  18. 43h

  19. EXCELLENCE. EVERYWHERE.ASPIRATION.NECESSITY.

  20. “One Singaporean worker costs as much as …3 … in Malaysia8 … in Thailand13 … in China18 … in India.”Source: The Straits Times/2003

  21. “Thaksinomics”(after Thaksin Shinawatra)“Bangkok Fashion City”:“managed asset reflation”(add to brand value of Thai textiles by demonstrating flair and design excellence)Source: The Straits Times/2004

  22. SpainPortugalItalyIrelandSingapore TaiwanThailandMalaysiaPhilippinesDubaiOmanChileRomaniaAustraliaNew Zealand

  23. “Better By Design”: A National StrategyNZ = Design Excellence

  24. SpainPortugalItalyIrelandSingapore ThailandMalaysiaPhilippinesDubaiOmanChileRomania AustraliaNew ZealandTaiwan

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

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

  27. SpainPortugalItalyIrelandSingapore ThailandMalaysiaPhilippinesDubaiOmanChileRomania AustraliaNew ZealandTaiwan

  28. London circa 1976:“You can’t build a ‘real economy’ on services, finance, advertising, etc.”London circa 2006:deliberately aims to be the “capital of the 21st century”

  29. EXCELLENCE. EVERYWHERE.ROOTS.

  30. Age of AgricultureIndustrial AgeAge of Information IntensificationAge of CreationIntensificationSource: Murikami Teruyasu, Nomura Research Institute

  31. Agriculture Age(farmers)Industrial Age(factory workers)Information Age(knowledge workers)Conceptual Age(creators and empathizers)Source: Dan Pink, A Whole New Mind

  32. “Human creativity is the ultimate economic resource.”—Richard Florida,The Rise of the Creative Class

  33. “THE FUTURE BELONGS TO … SMALL POPULATIONS … WHO BUILD EMPIRESOF THEMIND … AND WHO IGNORE THE TEMPTATION OF—OR DO NOT HAVE THE OPTION OF—EXPLOITING NATURAL RESOURCES.”Source: Juan Enriquez/Asthe Future Catches You

  34. U.S. Historical Strength: Invest in Creativity*Foster new industries*Free & open society*Investment higher ed, R & D, culture*ImmigrantsSource: Richard Florida, The Rise of the Creative Class

  35. “The Creative Age is awide-open game.”—Richard Florida, The Rise of the Creative Class

  36. London circa 1976:“You can’t build a ‘real economy’ on ‘soft services’ like finance, advertising, etc.”London circa 2006:deliberately aims to replace New York as the “capital of the 21st century”

  37. EXCELLENCE. THE MANDATE.

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

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

  40. “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

  41. “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

  42. “It is generally much easier to kill an organization than change it substantially.”—Kevin Kelly, Out of Control

  43. C.E.O.to C.D.O.

  44. DYB.com

  45. “The Silicon Valley of today is built less atop the spires of earlier triumphs than upon the rubble of earlier debacles.”—Newsweek/Paul Saffo

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

  47. “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

  48. 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?)

  49. EXCELLENCE. STARTERS.HORRORS.

  50. Franchise Lost!TP: “How many of you[600]reallycravea new Chevy?”

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