+1/-1. S&P 500 +1/-1* *Every … 2 weeks ! Source: Richard Foster (via Rita McGrath/ HBR /12.26.13.
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Source: Richard Foster (via Rita McGrath/HBR/12.26.13
“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 …Source: Paul Ormerod, Why Most Things Fail: Evolution, Extinction and Economics
“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 largeone and just wait.”—Paul Ormerod, Why Most Things Fail: Evolution, Extinction and Economics
Things BEFORE First Things
CONRAD HILTON, at a gala celebrating his career, was called to the podium and asked,“What were the most important lessons you learned in your long and distinguished career?”His answer …
“EXPERIMENT FEARLESSLY”Source: BusinessWeek, “Type A Organization Strategies: How to Hit a Moving Target”—Tactic #1“RELENTLESS TRIAL AND ERROR” Source: Wall Street Journal, cornerstone of effective approach to “rebalancing” company portfolios in the face of changing and uncertain global economic conditions (11.08.10)
Medtronic EMEAC FY-15
Annual Kickoff Meeting/Frankfurt/03 June 2014
(Slides++ at tompeters.com; also see our 23-part Master Compendium at excellencenow.com)
“Steve, you’re costing me a hundred nanoseconds. [$100B/Millisecond] Can you at least cross it diagonally?”
1/721: “The greatest shortcoming of the human race is our inability to understand the exponential function.” —Albert A. Bartlett
IoE/The Internet of Everything
*“More Than 50 BILLION connected devices by 2020” —Ericsson
**Estimated 212 BILLION connected devices by 2020—IDC
***“By 2025 IoT could be applicable to $82 TRILLION of output or approximately one half the global economy”—GE [The WAGs to end all WAGs!]
“Internet of Things”:“The algorithms created by Nest’s machine-learning experts—and the troves of data generated by those algorithms—are just as important as the sleek materials carefully selected by its industrial designers. By tracking its users and subtly influencing their behaviors, Nest Learning Thermostat transcends its pedestrian product category. Nest has similar hopes for what has always been a prosaic device, the smoke alarm. Yes, the Nest Protect does what every similar device does—goes off when smoke or CO reaches dangerous levels—but it does much more, by using sensors to distinguish between smoke and steam, Internet connectivity to tell you where the danger is, a calculated tone of voice to convey a personality, and warm lighting to guide you in the darkness.
In other words, Nest isn’t only about beautifying the thermostat or adding features to the lowly smoke detector. ‘We’re about creating the conscious home,’ said Nest
CEO Fadell. Left unsaid is a grander vision, with even bigger implications,
many devices sensing the environment, talking to one another, and doing
our bidding unprompted.”
Source: “Where There’s Smoke …”, Steven Levy, Wired, NOV 2013
“Just like other members of the board, the algorithm gets to vote on whether the firm makes an investment in a specific company or not. The program will be the sixth member of DKV's board.”
Avoiding “Commodity Hell”: Service on Steroids
“Lou, with all the money I’ve spent with you guys on ‘the best this or that,’ in fact this AND that, why in the hell hasn’t my business been transformed?”
Planetary Rainmaker-in-Chief!“[CEO Sam] Palmisano’s strategy is to expand tech’s borders by pushing users—and entire industries—towardradically differentbusinessmodels.The payoff for IBM would be access to an ocean of revenue—Palmisano estimates it at$500billiona year—that technology companies have never been able to touch.”—Fortune
I probably wouldn’t have. My bias coming in was toward strategy, analysis and measurement. In comparison, changing the attitude and behaviors of hundreds of thousands of people is very, very hard.Yet I came to see in my time at IBM that culture isn’t just one aspect of the game— IT IS THE GAME.”
—Lou Gerstner, Who Says Elephants Can’t Dance
“THE GIANT STALKING BIG OIL: How SchlumbergerIs Rewriting the Rules of the Energy Game.”:“IPM [Integrated Project Management] strays from [Schlumberger’s] traditional role as a service provider and moves deeper into areas once dominated by the majors.”
Source: BusinessWeek cover story, January 2008
“Rolls-Royce now earns more from tasks such as managing clients’ overall procurement strategies and maintaining aerospace engines it sells than it does from making them.”
“It’s all about solutions. We work with customers on creating and running better, stronger, cheaper supply chains.”—Bob Stoffel, UPS senior exec
“The business of selling is not just about matching viable solutions to the customers that require them.It’s equally about managing the change process the customer will need to go through to implement the solution and achieve the value promised by the solution.One of the key differentiators of our position in the market is our attention to managing change and making change stick in our customers’ organization.”—Jeff Thull, The Prime Solution: Close the Value Gap, Increase Margins, and Win the Complex Sale
“When I was in medical school, I spent hundreds of hours looking into a microscope—a skill I never needed to know or ever use.Yet I didn’t have a single class that taught me communication or teamwork skills—something I need every day I walk into the hospital.”
—Peter Pronovost, Safe Patients, Smart Hospitals
“I am hundreds of times better here[than in my prior hospital assignment] because of the support system. It’s like you were working in an organism; you are not a single cell when you are out there practicing.’”
—quote from Dr. Nina Schwenk, in Chapter 3, “Practicing Team Medicine,”
from Leonard Berry & Kent Seltman, Management Lessons From Mayo Clinic
The Professional Service Firm50: Fifty Ways to Transform Your “Department” into a Professional Service Firm Whose Trademarks are Passion and Innovation!
HCare CIO: “Technology Executive”(workin’ in a hospital)Or/to:Full-scale, Accountable(life or death) Member-Partner of XYZ Hospital’s Senior Healing-Services Team(who happens to be a techie)
The PSF35: The Client Experience11. Always team with client: “full partners in achieving memorable results”(Wanted: “Chimeras of Moonstruck Minds”!)12. We will seek assistance Anywhere to assemble the Best-in- Planet Team for the Project13. Client Team Members routinely declare that working with us was “the Peak Experience of my Career”14. The job’s not done until implementation is “100.00% complete” (Those who don’t “get it” must go)15.IMPLEMENTATION IS NOT COMPLETE UNTIL THE CLIENT HAS EXPERIENCED “CULTURE CHANGE”16.IMPLEMENTATION IS NOT COMPLETE UNTIL SIGNIFICANT “TECHNOLOGY TRANSFER” HAS TAKEN PLACE-ROOT(“Teach a man to fish …”)17.The Final Exam: DID WE MAKE A DRAMATIC, LASTING, GAME-CHANGING DIFFERENCE?
“Research suggests that to succeed, start by promoting women.”—Nicholas Kristof, “Twitter, Women, and Power,” NYTimes, 1024.13
“McKinsey & Company found that the international companies with more women on their corporate boards far outperformed the average company in return on equity and other measures. Operating profit was 56%
higher.” —Nicholas Kristof, “Twitter, Women, and Power,” NYTimes, 1024.13
“AS LEADERS, WOMEN RULE:New Studies find that female managers outshine their male counterparts in almost every measure”TITLE/ Special Report/ BusinessWeek
Women’s Negotiating Strengths*Ability to put themselves in their counterparties’ shoes*Comprehensive, attentive and detailed communication style*Empathy that facilitates trust-building*Curious and attentive listening*Less competitive attitude*Strong sense of fairness and ability to persuade*Proactive risk manager*Collaborative decision-makingSource: Horacio Falcao, Cover story/May 2006, World Business, “Say It Like a Woman: Why the 21st-century negotiator will need the female touch”
“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/from the back cover: Selling Is a Woman’s Game:
15 Powerful Reasons Why Women Can Outsell Men, Nicki Joy & Susan Kane-Benson
“Forget CHINA, INDIA and the INTERNET: Economic Growth Is Driven by WOMEN.”
Source: Headline, Economist
Purchasing agents: 55%
Purchasing managers: 42%
Wholesale/retail buyers: 52%
Source: Martha Barletta/TrendSight Group/0517.11
pick one failing of CEOs, it’s
—Co-founder of one of the largest investment services firms in the USA/world
“If I had to pick one failing of CEOs, it’s that …they don’t read enough.”
*Source: Jerome Groopman, How Doctors Think
Suggested Core Value #1:“We are Effective Listeners—we treat Listening EXCELLENCE as the Centerpiece of our Commitment to Respect and Engagement and Community and Growth.”
“Business has to give people enriching, rewarding lives … or it's simply not worth doing.”
Our goal is to serve our customers brilliantly and profitably over
the long haul.
Serving our customers brilliantly and profitably over the long
haul is a product of brilliantly serving, over the long haul, the
people who serve the customer.
Hence, our job as leaders—the alpha and the omega and
everything in between—is abetting the sustained growth
and success and engagement and enthusiasm and
commitment to Excellence of those, one at a time, who
directly or indirectly serve the ultimate customer.
We—leaders of every stripe—are in the “Human Growth and
Development and Success and Aspiration to Excellence
“We” [leaders] only grow when “they” [each and every one of our colleagues] are
“We” [leaders] only succeed when “they” [each and every one of our colleagues]
“We” [leaders] only energetically march toward Excellence when
“they” [each and every one of our colleagues] are energetically marching
CORPORATE MANDATE #1 2014:Your principal moralobligation 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 good news: This is also the#1 mid- to long-term … profit maximization strategy!
“development can help great people be even better— but if I had a dollar to spend, I’d spend70 centsgetting the right person in the door.”—Paul Russell, Director, Leadership and Development, Google
Bet: >> 5 of 10 CEOs see training as expense rather than investment.
Bet: >> 5 of 10 CEOs see training as defense rather than offense.
Bet: >> 5 of 10 CEOs see training as “necessary evil” rather than “strategic opportunity.”
Bet:>> 8 of 10 CEOs, in 45-min “tour d’horizon” of their business, would not mention training.
*433,000 employees on IBM Connection
*26,000 individual blogs
*200,000 employees on Facebook
*295, 000 employees/800,000 followers
of the brand
*35,000 on Twitter
Source: IBM case, in Cheryl Burgess & Mark Burgess, The Social Employee
Kevin Roberts’ Credo1. Ready. Fire! Aim.2. If it ain’t broke ... Break it!3. Hire crazies.4. Ask dumb questions.5. Pursue failure.6. Lead, follow ... or get out of the way!7. Spread confusion.8. Ditch your office.9. Read odd stuff.10.AVOID MODERATION!