Tom Peters’ Re-Imagine! Business Excellence in a Disruptive Age 11. 27. 2003



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“We are at a pivotal point in history. … We are at one of a half dozen turning points that have fundamentally changed the way societies are organized for governance.” —Philip Bobbitt, The Shield of Achilles: War, Peace, and the Course of History

“There’s going to be a fundamental change in the global economy unlike anything we have had since the cavemen began bartering.” Arnold Baker, Chief Economist, Sandia National Laboratories

“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]

“I genuinely believe we are living through the greatest intellectual moment in history.” Matt Ridley, Genome

“We are in a brawl with no rules.” Paul Allaire

S.A.V.

“Strategy meetings held once or twice a year” to “Strategy meetings needed several times a week

  • Source: New York Times on Meg Whitman/eBay

2. The Destruction Imperative.

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

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

“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

“Analysts said we don’t care about revenue, just give us the bottom line. They preferred cost cutting, as long as they could see 2 or 3 years of EPS growth. I preached revenue and the analysts’ eyes would glaze over. Now revenue is ‘in’ because so many got caught, and earnings went to hell. They said, ‘Oh my gosh, you need revenues to grow earnings over time.’ Well, Duh!” Dick Kovacevich, Wells Fargo (in ABA Banking Journal)

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

“Mr. Foster and his McKinsey colleagues collected detailed performance data stretching back 40 years for 1,000 U.S. companies. They found that none of the long-term survivors managed to outperform the market. Worse, the longer companies had been in the database, the worse they did.”—Financial Times/11.28.2002

“It’s just a fact: Survivors underperform.” —Dick Foster

Rate of Leaving F500 1970-1990: 4X Source: The Company, John Micklethwait & Adrian Wooldridge (1974-200: One-half biggest 100 disappear)

“Far from being a source of comfort, bigness became a code for inflexibility.” —John Micklethwait & Adrian Wooldridge, The Company

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

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

Success Kills! “The more successful a company, the flatter its forgetting curve.” — Gary Hamel and C.K. Prahalad

“When asked to name just one big merger that had lived up to expectations, Leon Cooperman, former cochairman of Goldman Sachs’ Investment Policy Committee, answered: I’m sure there are success stories out there, but at this moment I draw a blank.” Mark Sirower, The Synergy Trap

“Conglomerates don’t work.” —James Surowiecki, The New Yorker (07.01.2002)

“MERGERS: Why Most Big Deals Don’t Pay Off. A BusinessWeek analysis shows that 61% of buyers destroyed shareholder wealth.” —BusinessWeek/10.14.2002

Market Share, Anyone? — 240 industries; Market-share leader is ROA leader 29% of the time — profit / ROA leaders: “aggressively weed out customers who generate low returns” Source: Donald V. Potter, Wall Street Journal (15 June 1998)

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

“Active mutators in placid times tend to die off. They are selected against. Reluctant mutators in quickly changing times are also selected against.” Carl Sagan & Ann Druyan, Shadows of Forgotten Ancestors

“Survival of the Fittest Not the Fattest”/John Kay/FT03.27.2003 “I have heard it from people who make pharmaceuticals and from people who make defense equipment. From executives in utilities and executives in advertising. Among banks and law firms. .. They all expect their industry to develop the way the car industry has. In an increasingly globalized marketplace, maturing industries will become steadily more concentrated. Only a small number of big companies will survive. “There is one problem with these analogies. What is said about the motor industry is not true.The peak of concentration in the automobile industry was reached in the early 1950s and since then there has been a substantial decline. However you look at it, small carmakers have been steadily gaining market share at the expense of large ones. Back in the 1960s, the 10 largest carmakers had a market share of 85 percent; today it is about 75 percent. Concentration has fallen, even though weak firms have been repeatedly absorbed through mergers. “As markets evolve, differentiation becomes steadily more important. Success in the motor industry comes not from size or scale, but from developing competitive advantages in operations and marketing those advantages internationally. The same is true in pharmaceuticals and defense equipment, utilities and banking, telecommunications and media.”


Directory: slides -> uploaded
uploaded -> Tom Peters Seminar2004 new slides 12. 15. 04
uploaded -> Excellence. Case. Epsilon. This is not about … “customer centrism” “integrated marketing” etc etc etc It is about …
uploaded -> Prep … dralion/ Cirque du Soleil Re-imagine Permanence: The Emperor Has No Clothes!
uploaded -> Ine! Business Excellence in a Disru
slides -> 26m 43h “China’s Next Export: Innovation” —McKinsey Quarterly (Cover Story)
uploaded -> Re-imagine! Not Your Father’s World I. 26m 43h
uploaded -> Tom Peters on … Transformational Change v06 December 2005
uploaded -> Tom Peters’ excellence. Always. Xalways. Master. 1724. 28 November 2006 Thank You!
uploaded -> Tom Peters’ excellence. Always. X. Always. Master. Short. 902. 19 September 2006 X. Al excellence. Always. Slides* at … tompeters com *also “long” The Irreducible209+/ Sales122/60tibs
uploaded -> Tom Peters’ Re-imagine 2005: Innovate! or Die! InnoDie. Long. 1110. 2005 Slides at … tompeters com


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