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Tom Peters Seminar M3 Rollercoaster Days: Learning to … Rock & Roll! Prudential Retirement Services Phoenix / 03.20.2001. “There will be more confusion in the business world in the next decade than in any decade in history. And the current pace of change will only accelerate.” Steve Case.
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Tom Peters SeminarM3Rollercoaster Days:Learning to … Rock & Roll!Prudential Retirement ServicesPhoenix/03.20.2001
“There will be more confusion in the business world in the next decadethan in any decade in history. And the current pace of change will only accelerate.”Steve Case
“In 25 years, you’ll probably be able to get the sum total of all human knowledge on a personal device.”Greg Blonder, VC [was Chief Technical Adviser for Corporate Strategy @ AT&T] [Barron’s 11.13.2000]
Ray Kurzweil, The Singularity* Is Near(Reported in “GIGATRENDS,” Wired 04.01)*Singularity: Rate of change becomes infinite
Everything has changed: E.g., profits & cash flow matter in valuing a stock; the I’net & B’tech revolutions haven’t nullified the business cycle; people are resilient.Nothing has changed: E.g., 25 years of whitewater ahead; there is a New Economy; the Internet will change EVERYTHING; there are many revolutions to come … hence many unforeseen winners & many unforeseen losers; Duke has a good basketball team; don’t short Krispy Kreme.
“The Internet is not going away – but flawed business models are.”fool.com
StructurePart I: Brand InsidePart II: Brand OutsidePart III: Brand Leadership
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
The Gales of Creative Destruction+29M = -44M + 73M+4M = +4M - 0M
Headline: “Bank of America to Cut … 10,000 Jobs”“Middle-level and senior managersare expected to be the principal targets of the job cutbacks.”Source: The New York Times (07.29.2000)
Answer: PSF![Professional Service Firm]Department Headto …Managing Partner, HR [IS, etc.] Inc.
“support function” / “cost center” / “bureaucratic drag”or …
“Reward excellent failures. Punish mediocre successes.”Phil Daniels, Sydney exec
[09.11.2000: HP bids $18,000,000,000for PricewaterhouseCoopersConsulting business!]
2010 “Demographics”:By 2010, full-time workers will be in the minoritySource: MIT study (28August2000)
“If there is nothing very special about your work, no matter how hard you apply yourself, you won’t get noticed, and that increasingly means you won’t get paid much either.”Michael Goldhaber, Wired
Minimum New Work SurvivalSkillsKit2000MasteryRolodex Obsession (vert. to horiz. “loyalty”)Finishing SkillsEntrepreneurial InstinctCEO/Leader/BusinesspersonMistress of ImprovSense of HumorIntense Appetite for TechnologyGroveling Before the YoungEmbracing “Marketing”Passion for Renewal
“When land was the productive asset, nations battled over it. The same is happening now for talented people.”Stan Davis & Christopher Meyer, futureWEALTH
“We have transitioned from an asset-based strategy to a talent-based strategy.”Jeff Skilling, COO, Enron
From “1, 2 or 3” [JW] to …“Best talent in each industry segment to build best proprietary intangibles”[EM]Source: Ed Michaels, War for Talent (05.17.00)
“We believe companies can increase their market cap 50 percent in 3 years. Steve Macadam at Georgia Pacificchanged 20 of his 40 box plant managers to put more talented, higher paid managers in charge.He increased profitability from $25 million to $80 million in 2 years.”Ed Michaels, War for Talent (05.17.00)
Message: Some people are better than other people. Some people are a helluva lot better than other people.
“Top performing companies are two to four times more likely than the rest to pay what it takes to prevent losing top performers.”Ed Michaels, War for Talent (05.17.00)
“We value engineers like professional athletes. We value great people at 10 times an average person in their function.”Jerry Yang, Yahoo
So-so plant manager, $1M per year. Pay: $110,000 plus $60,000. Top plant manager, $3-4M per year. Pay: $135,000 plus $90,000. Net: $2-3M for $50K.Source: Ed Michaels et al., The War for Talent, re Georgia Pacific
What gets measured gets done. What gets paid for gets done more. What gets paid a lot for gets done a lot more.
“Where do good new ideas come from? That’s simple! From differences. Creativity comes from unlikely juxtapositions. The best way to maximize differences is to mix ages, cultures and disciplines.”Nicholas Negroponte
“Diversity defines the health and wealth of nations in a new century. Mighty is the mongrel. … The hybrid is hip. The impure, the mélange, the adulterated, the blemished, the rough, the black-and-blue, the mix-and-match – these people are inheriting the earth. Mixing is the new norm. Mixing trumps isolation. It spawns creativity, nourishes the human spirit, spurs economic growth and empowers nations.”G. Pascal Zachary, The Global Me: New Cosmopolitans and the Competitive Edge
The Cracked Ones Let in the Light“Our business needs a massive transfusion of talent, and talent, I believe, is most likely to be found among non-conformists, dissenters and rebels.”David Ogilvy
Axiom:Never hire anyone without an aberration in their background!
“AS LEADERS, WOMEN RULE: New Studies find that female managers outshine their male counterparts in almost every measure”Title, Special Report, Business Week, 11.20.00
The New Economy …Shout goodbye to “command and control”!Shout goodbye to hierarchy!Shout goodbye to “knowing one’s place”!
Women’s Stuff =New Economy MatchImprov skillsRelationship-centricLess “rank consciousness”Self determinedTrust sensitive IntuitiveNatural “empowerment freaks” [less threatened by strong people]Intrinsic [motivation] > Extrinsic
“TAKE THIS QUICK QUIZ: Who manages more things at once? Who puts more effort into their appearance? Who usually takes care of the details? Who finds it easier to meet new people? Who asks more questions in a conversation? Who is a better listener? Who has more interest in communication skills? Who is more inclined to get involved? Who encourages harmony and agreement? Who has better intuition? Who works with a longer ‘to do’ list? Who enjoys a recap to the day’s events? Who is better at keeping in touch with others?”Source: Selling Is a Woman’s Game: 15 Powerful Reasons Why Women Can Outsell Men, Nicki Joy & Susan Kane-Benson
“Investors are looking more and more for a relationship with their financial advisers. They want someone they can trust, someone who listens. In my experience, in general, women may be better at these relationship-building skills than are men.”Hardwick Simmons, CEO, Prudential Securities
“Boys are trained in a way that will make them irrelevant.”Phil Slater
It’s Girls, Stupid!1996: 8.4M women, 6.7M men in college (est: 9.2 to 6.9 in 2007); more women than men in high-level math and science coursesMore girls in student govt., honor societies; girls read more books, outperform boys in artistic and musical ability, study abroad in higher numbersBoys do rule: crime, alcohol, drugs, failure to do homework (4:1)Source: The Atlantic Monthly (May2000)