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Reimagining Excellence: Uncovering the Secrets of Hidden Champions

Discover the success secrets of unknown world market leaders and learn how to be the best in your industry. This text explores the strategies and principles followed by exceptional companies to achieve long-term success.

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Reimagining Excellence: Uncovering the Secrets of Hidden Champions

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  1. Tom Peters’ RE-IMAGINE EXCELLENCE! AAPL 62nd Annual Meeting Orlando/16 June 2016 (Slides available at tompeters.com)

  2. EXCELLENCE! Flemington NJ Seymour CT Motueka NZ Fairfield OH Frankenmuth MI Kópavogur ICELAND

  3. THE RED CARPET STORE (Joel Resnick/Flemington NJ)

  4. *Larry Janesky/Seymour CT/ BasementSystemsInc.++ *Dry Basement Science ++/ 27 patents *400 dealers/6 countries *Awards+++++ *>$100,000,000

  5. The Magicians of Motueka (PLUS)! W.A. Coppins Ltd.* (Coppins Sea Anchors/ PSA/para sea anchors) *Textiles, 1898; thrive on “wicked problems” —e.g., U.S. Navy STLVAST (Small To Large Vehicle At Sea Transfer); custom fabric from W. Wiggins Ltd./Wellington (specialty nylon, “Dyneema,” from DSM/Netherlands)

  6. Retail Superstars: Inside the 25 Best Independent Stores in America—by George Whalin

  7. JUNGLE JIM’S INTERNATIONAL MARKET, FAIRFIELD, OH:“An adventure in ‘shoppertainment,’ begins in the parking lot and goes on to 1,600 cheeses and 1,400 varieties of hot sauce—not to mention 12,000 wines priced from $8-$8,000 a bottle; all this is brought to you by 4,000 vendors. Customers from every corner of the globe.” BRONNER’S CHRISTMAS WONDERLAND, FRANKENMUTH, MI, POP 5,000:98,000-square-foot “shop” features 6,000 Christmas ornaments, 50,000trims, and anything else you can name pertaining to Christmas. …” Source: George Whalin, Retail Superstars: Inside the 25 Best Independent Stores in America

  8. “BE THE BEST. IT’S THE ONLY MARKET THAT’S NOT CROWDED.” From: Retail Superstars: Inside the 25 Best Independent Stores in America, George Whalin

  9. BE THE BEST: “Jungle Jim’s creations literally jam-pack the store with visual surprises. … The props can also be a bit bizarre. Two men’s and women’s Porta Potties situated in the front area of the store look as though they belong on a construction site rather than in a food store. But they are false fronts, and once through the doors, customers find themselves in beautifully appointed restrooms. These creative facilities were recognized as ‘America’s BestRestroom’ in the Sixth Annual competition sponsored by Cintas Corporation, a supplier of restroom cleaning and hygiene products. …” —George Whalin, Retail Superstars

  10. Baader (Iceland/80% fish-processing systems) Gallagher (NZ/electric fences) W.E.T. (heated car seat tech) Gerriets (theater curtains and stage equipment) Electro-Nite (sensors for the steel industry) Essel Propack (India/tooth paste tubes) SGS (product auditing and certification) DELO (specialty adhesives) Amorim (Portugal/cork products) EOS (laser sintering) Beluga (heavy-lift shipping) Omicron (tunnel-grid microscopy) Universo (wristwatch hands) Dickson Constant (technical textiles) O.C. Tanner (employee recognition/$400M) Hoeganaes (powder metallurgy supplies) Hidden Champions* of the 21st Century: Success Secrets of Unknown World Market Leaders/Hermann Simon (*1, 2, or 3 in world market; <$4B; low public awareness)

  11. Michael Raynor and Mumtaz Ahmed: THE THREE RULES: How Exceptional Companies Think*: 1. Better before cheaper. 2. Revenue before cost. 3. There are no other rules. (*From a database of over 25,000 companies from hundreds of industries covering 45 years, they uncovered 344 companies that qualified as statistically “exceptional.”) Jeff Colvin, Fortune: “The Economy Is Scary … But Smart Companies Can Dominate”: They manage for VALUE—not for EPS. They get RADICALLY CUSTOMER-CENTRIC. They keep DEVELOPING HUMAN CAPITAL.

  12. S&P 500 +1/-1* *Every …2weeks! Source: Richard Foster (via Rita McGrath/HBR/12.26.13

  13. United Problem Solvers

  14. UPStoUPS

  15. “Big Brown’s New Bag: UPS Aims to Be the Traffic Manager for Corporate America”—Headline/BW“UPS wants to take over the sweet spot in the endless loop of goods, information and capital that all the packages [it moves] represent.”—ecompany.com

  16. “It’s all about SOLUTIONS. We talk with customers about how to run better, stronger, cheaper supply chains. We have thousands of engineers who work with customers …”—Bob Stoffel, UPS senior exec

  17. UPS = United Problem Solvers**Service mark (!)

  18. IBMtoIBM

  19. “Rolls-Royce now earns MOREfrom tasks such as managing clients’ overall procurement strategies and maintaining aerospace engines it sells than it does from making them.”—Economist

  20. GE Enterprise Solutions* ** GE Enterprise Solutions delivers high-impact, integrated solutions that improve customers’ productivity and profitability. Enterprise Solutions helps customers compete and win in a changing global environment by combining the power of GE’s intelligent technologies with its multi-industry experience and expertise. Enterprise Solutions comprises high-tech, high-growth businesses including Sensing & Inspection Technologies, Security, GE Fanuc Intelligent Platforms, and Digital Energy. The business has 17,000 customer-focused associates in more than 60 countries around the world. *from GE.com **Welcome to BOSTON

  21. UTC/Otis + UTC/Carrier: boxes* to “integrated building systems”*elevators, air conditioners

  22. “Value-Added Client Service Maestros …”* TASKS: Systems integrators. Systemic value-added strategists for total Client operations. Integrated Systems Operators/Managers Systemic productivity improvement and management Strategic technology integrators/Value-added tech strategists Systemic quality management Client employee training High value-added subcontractors/partners for a myriad of Client needs—i.e., a de facto General Store, ready to do any damn thing the Client would like to have done ROLES: Advisory Operational: Subcontractors/Managers of subcontractors Joint-venture partners *Source: Presentation to industrial equipment distributors group

  23. …………..… TGR > TGW

  24. <TGWand …>TGR[Things Gone WRONG-Things Gone RIGHT]

  25. Customers describing their service experience as “superior”: 8% Companies describing the service experience they provide as “superior”: 80% —Source: Bain & Company survey of 362 companies, reported in John DiJulius, What's the Secret to Providing a World-class Customer Experience?

  26. Conveyance: Kingfisher Air Location: Approach to New Delhi

  27. “May I clean your glasses, sir?”

  28. Conveyance: Southwest Airlines Location: Boarding flight to BWI, Albany NY

  29. “May I help you down the jetway.”

  30. Get ’Em Away From the ATM and Into the Branches:7X. 7:30A-8:00P. Fri/12A.7:30AM = 7:15AM.8:00PM = 8:15PM.(+2,000,000 dog biscuits)Source: Vernon Hill, Fans, Not Customers (the story of Commerce Bank, the folks who revolutionized East Coast retail banking) (= $8.7B.)

  31. “Courtesies of a small and trivial character are the ones which strike deepest in the grateful and appreciating heart.”*—Henry Clay*EQ >>> IQ

  32. TGRs (on steroids):L(Very)BTs

  33. Big carts = 1.5X Source: Walmart

  34. Las Vegas Casino/2X:“When Friedmanslightly curvedthe right angle of an entrance corridor to one property, he was ‘amazed at the magnitude of change in pedestrian behavior’—the percentage who entered increased fromone-thirdto nearlytwo-thirds.” —Natasha Dow Schull, Addiction By Design: Machine Gambling in Las Vegas

  35. Software Is Eating the World

  36. “Software is eating the world.”* —Marc Andreessen *Threat#1. Opportunity #1.

  37. “Automation has become so sophisticated that on a typical passenger flight, a human pilot holds the controls for a grand total of … 3minutes. [Pilots] have become, it’s not much of an exaggeration to say, computer operators.” Source: Nicholas Carr, “The Great Forgetting,” The Atlantic, 11.13

  38. AlphaGo Beats Go Grandmaster “This technology is going to cut through the global economy like a hot knife through butter.  It learns fast and largely on its own.  It's widely applicable.  It doesn't only master what it has seen, it can innovate.  For example: some of the unheard of moves made by AlphaGo were considered ‘beautiful’ by the Grandmaster it beat. “Limited AGI/Artificial General Intelligence(deep learning in particular)will have the ability to do nearly any job currently being done by human beings—from lawyers to judges, nurses to doctors, driving to construction—potentially at a grandmaster's level of capability.  This makes it a buzzsaw. “Very few people—and I mean very few—will be able to stay ahead of the limited AGI buzzsaw.  It learns so quickly, the fate of people stranded in former factory towns gutted by ‘free trade’ is likely to be the fate of the highest paid technorati.  They simply don't have the capacity to learn fast enough or be creative enough to stay ahead of it.”—John Robb/Global Guerrillas/ 03/12/16

  39. Sensor Pills: “Proteus Digital Health is one of several pioneers in sensor-based health technology. They make a silicon chip the size of a grain of sand that is embedded into a safely digested pill that is swallowed. When the chip mixes with stomach acids, the processor is powered by the body’s electricity and transmits data to a patch worn on the skin. That patch, in turn, transmits data via Bluetooth to a mobile app, which then transmits the data to a central database where a health technician can verify if a patient has taken her or his medications. —Robert Scoble and Shel Israel, Age of Context: Mobile, Sensors, Data and the Future of Privacy

  40. IoT/Internet of Things IoE/The Internet of Everything M2M/Machine-to-Machine Ubiquitous computing Embedded computing Pervasive computing Industrial Internet Etc.* ** *** **** *Estimated 212 BILLION connected devices by 2020—IDC **Estimated IoT market size, next decade: $14.4 trillion *** “By 2025 IoT could be applicable to $82 trillion of output or approximately one half the global economy”—GE (GE is literally betting its existence and the future on the IoT, Bloomberg/03.2016) ****100,000,000,000,000 [100 trillion] sensors/2030 —Michael Patrick Lynch, The Internet of Us Primary source: “The Big Switch,” Capital Insights

  41. “PEOPLE BEFORE STRATEGY”

  42. “PEOPLE BEFORE STRATEGY” —Lead article, Harvard Business Review. July-August 2015, by Ram Charan, Dominic Barton, and Dennis Carey

  43. “You have to treat your employees like customers.”—Herb Kelleher, upon being asked his “secret to success”Source: Joe Nocera, NYT, “Parting Words of an Airline Pioneer,” on the occasion of Herb Kelleher’s retirement after 37 years at Southwest Airlines (SWA’s pilots union took out a full-page ad in USA Today thanking HK for all he had done) ; across the way in Dallas, American Airlines’ pilots were picketingAA’s Annual Meeting)

  44. 1996-2014/Twelve companies have been among the “100 best to work for” in the USA every year, for all 16 years of the list’s existence; along the way, they’ve added/ 341,567 new jobs, or job growth of +172%:PublixWhole FoodsWegmansNordstromCisco SystemsMarriottREIGoldman SachsFour SeasonsSAS InstituteW.L. GoreTDIndustriesSource: Fortune/ “The 100 Best Companies to Work For”/0315.15

  45. “It may sound radical, unconventional, and bordering on being a crazy business idea. However— as ridiculous as it sounds—joy is the core belief of our workplace. Joy is the reason my company, Menlo Innovations, a customer software design and development firm in Ann Arbor, exists. It defines what we do and how we do it. It is the single shared belief of our entire team.” —Richard Sheridan, Joy, Inc.: How We Built a Workplace People Love

  46. CORPORATE MANDATE #1 2015:Your principal moral obligation as a leader is to develop the skillset, “soft” and “hard,” of every one of the people in your charge (temporary as well as semi-permanent) to the maximum extent of your abilities. The bonus: This is also the#1 mid- to long-term … profit maximization strategy!

  47. 1/4,096: excellencenow.com “Business has to give people enriching, rewarding lives … or it's simply not worth doing.” —Richard Branson

  48. “The role of the Director is to create a space where the actors and actresses canbecome more than they’ve ever been before, more than they’ve dreamed of being.” —Robert Altman, Oscar acceptance speech

  49. LEADERSHIP: “SOME STUFF”

  50. MBWA

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