V. A. Moment … 1Y/2N: Commerce Bank 2 Pizzas: jb plastic Bulldozer: md


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



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

“Strategy meetings held once or twice a year” to “Strategy meetings needed several times a week Source: New York Times on Meg Whitman/eBay

“How we feel about the evolving future tells us who we are as individuals and as a civilization: Do we search for stasis—a regulated, engineered world? Or do we embrace dynamism—a world of constant creation, discovery and competition? Do we value stability and control? Or evolution and learning? Do we think that progress requires a central blueprint? Or do we see it as a decentralized, evolutionary process? Do we see mistakes as permanent disasters? Or the correctable byproducts of experimentation? Do we crave predictability? Or relish surprise? These two poles, stasis and dynamism, increasingly define our political, intellectual and cultural landscape.” —Virginia Postrel, The Future and Its Enemies

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

“Let’s compete—by training the best workers, investing in R & D, erecting the best infrastructure and building an education system that graduates students who rank with the worlds best. Our goal is to be competitive with the best so we both win and create jobs.” —Craig Barrett (Time/03.01.04)

The Winning Edge: The Peters6 1. Research-Innovation 2. Entrepreneurial Attitude & Support (Especially from Capital Markets) 3. Creative (“Obstreperous”) Education 4. Free Trade-Open Markets 5. Individual Self-reliance (& Supports Therefore) 6. Cutting-edge Infrastructure

2. Re-imagine Permanence: The Emperor Has No Clothes!

“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

“Today, you own ideas for about an hour and a half.” —Larry Light/Global CMO, McDonald’s Source: Advertising Age/10.11.04

“The corporation as we know it, which is now 120 years old, is not likely to survive the next 25 years. Legally and financially, yes, but not structurally and economically.” Peter Drucker, Business 2.0

Once upon a time, there was a perpetual, comforting night-time glow in the little boy’s bedroom window …

And then …

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

  • BUILT TO … DETERIORATE!
  • “When it comes to investing, I am old school. Buy a good stock, stick it in the drawer and when you check back years later the stock should be worth more. There’s only one problem. When I checked the drawer recently it was full of clunkers, including Lucent, down 94 percent from its 1999 high. Maybe once upon a time buy and hold was a viable strategy. Today, it no longer makes sense.”—Charles Stein/ “Investment Strategies Must Shift with Realities”/Boston Globe/10.10.04
  • A sample of Stein’s “Blue Chip-turned-clunker” examples: Fannie Mae (featured in Collins’ Good to Great). Coke. (“Clunker,” make that “Stinker.”) Merck. (The mightiest fall—stock down 63 percent since 2000; tumble preceded Vioxx) Uh … Microsoft. (“Microsoft’s stock price is no higher today than it was in 1998.”)
  • “It is not clear there is such a thing as a ‘Blue Chip,’” Shawn Kravetz, president of the hedge fund Esplanade Capital, told Stein. “Kravetz’s point is a serious one,” Stein continues. “Greatness is not permanent. This process of creative destruction isn’t new. But with the world moving ever faster, and with competition on steroids, the quaint notion of buying and holding is hopelessly out of step.”

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

“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

“I don’t believe in economies of scale. You don’t get better by being bigger. You get worse.” —Dick Kovacevich/ Wells Fargo/Forbes08.2004 (ROA: Wells, 1.7%; Citi, 1.5%; BofA, 1.3%; J.P. Morgan Chase, 0.9%)

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

Re-imagine General Electric “Welch was to a large degree a growth by acquisition man. ‘In the late ’90s,’ Immelt says, ‘we became business traders, not business growers. Today organic growth is absolutely the biggest task of everyone of our companies. If we don’t hit our organic growth targets, people are not going to get paid.’ … Immelt has staked GE’s future growth on the force that guided the company at it’s birth and for much of its history: breathtaking, mind-blowing, world-rattling technological innovation.” —“GE Sees the Light”/Business 2.0/July 2004


Directory: slides -> 2004
2004 -> Slides at … tompeters com V. A. Moment … 1Y/2N: Commerce Bank 2 Pizzas: jb plastic Bulldozer: md
slides -> Tom Peters’ Re-Imagine! Business Excellence in a Disruptive Age Manchester/14. Marc
slides -> Tom Peters Seminar2004 new slides 12. 15. 04
slides -> Excellence. Case. Epsilon. This is not about … “customer centrism” “integrated marketing” etc etc etc It is about …
slides -> Re-imagine! Not Your Father’s World I. 26m 43h
slides -> Prep … dralion/ Cirque du Soleil Re-imagine Permanence: The Emperor Has No Clothes!
slides -> Tom Peters’ Re-Imagine! Business Excellence in a Disruptive Age 11. 27. 2003
slides -> Ine! Business Excellence in a Disru
slides -> 26m 43h “China’s Next Export: Innovation” —McKinsey Quarterly (Cover Story)
2004 -> Tom Peters’ Re-Imagine! Business Excellence in a Disruptive Age fbr/Boca Raton/13November2004

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