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The Pinnacle of Excellence Practice Management Institute 2001 Commonwealth Tom Peters/06.14.2001. “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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The Pinnacle of ExcellencePractice Management Institute 2001CommonwealthTom Peters/06.14.2001
“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
“We are entering an era of no limits, with nothing to brake the cascade of human intelligence unleashed by the Information Age. The Web essentially allows all the brains on earth to communicate and share insights in real time, around the globe, all the time.”Jeffrey Young, Cisco Unauthorized
Part I: Brand InsidePart II: Brand OutsidePart III: Brand Leadership
Forbes100 from 1917 to 1987: 39 members of the Class of ’17 were alive in ’87; 18 are in ’87 F100; the 18 F100 “survivors” underperformed the market by 20%; just 2 (2%), GE & Kodak, outperformed the market from 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
“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
09.11.2000: HP bids $18,000,000,000for PricewaterhouseCoopersConsulting business!
[“These days, building the best server isn’t enough. That’s the price of entry.”Ann Livermore, Hewlett-Packard]
HP … Sun … GE … IBM … UPS … UTC … General Mills … Springs … Anheuser-Busch … Carpet One … Etc. … Etc.
“ ‘Architecture’ is becoming a commodity, traded on priceline.com. Winners will move up the value chain and become ‘Turnkey Facilities Management’ providers.”SMPS Exec
“We have transitioned from an asset-based strategy to a talent-based strategy.”Jeff Skilling, CEO, Enron
From “1, 2 or you’re out” [JW] to …“BestTalent in each industry segment to build best proprietary intangibles”[EM]Source: Ed Michaels, War for Talent (05.17.00)
33 Division Titles. 26 League Pennants. 14 World Series: Earl Weaver—0. Tom Kelly—0. Jim Leyland—0. Walter Alston—1AB. Tony LaRussa—132 games, 6 seasons. Tommy Lasorda—P,26 games. Sparky Anderson—1 season.
Goal of the Year No. 1*:Find-Develop-Mentor ONE Extraordinary Person.*CEO, large professional services firm
“Talented people are less likely to wait their turn. We used to view young people as trainees; now they are authorities.Arguably this is the first time the older generation can – and must – leverage the younger generation very early in their careers.”Ed Michaels, War for Talent (05.17.00)
EnronCOO: Louise Kitchen, F, 29; created EnronOnline as “Skunk Works”
“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
“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
“Women speak and hear a language of connection and intimacy, and men speak and hear a language of status and independence. Men communicate to obtain information, establish their status, and show independence. Women communicate to create relationships, encourage interaction, and exchange feelings.”Judy Rosener, America’s Competitive Secret
Part I: Brand InsidePart II: Brand OutsidePart III: Brand Leadership
Quality Not Enough!“While everything may be better, it is also increasingly the same.”Paul Goldberger on retail, “The Sameness of Things,” The New York Times
What’s Special?“Customers will try ‘low cost providers’ because the Majors have not given them any clear reason not to.”Leading Insurance Industry Analyst (10-98)
“We make over three new product announcements a day. Can you remember them? Our customers can’t!”Carly Fiorina
“The ‘surplus society’ has a surplus of similar companies, employing similarpeople, with similar educational backgrounds, working in similar jobs, coming up with similarideas, producing similar things, with similarprices and similarquality.”Kjell Nordstrom and Jonas Ridderstrale,Funky Business
Brand OutsideStrategy 1:Use E-Commerce toRe-inventEverything!
Cisco!90% of $20B (=$50M/day)Annual savings in service and support from customer self-management: $550M
Secret Cisco: Community!C.Sat e >> C.Sat HCustomer Engineer Chat Rooms/CollaborativeDesign ($1B “free” consulting) (45,000 customer problems a week solved via customer collaboration)
Welcome toD.I.Y. Nation!“Changes in business processes will emphasize self service. Your costs as a business go down and perceived service goes up because customers are conducting it themselves.” Ray Lane, Oracle
Anne Busquet/ American ExpressNot: “Age of the Internet”Is: “Age of Customer Control”
WebWorld = EverythingWeb as a way to run your business’ innardsWeb as connector for your entire supply-demand chainWebas “spider’s web” which re-conceives the industryWeb/B2B as ultimate wake-up call to “commodity producers”Web as the scourge of slack, inefficiency, sloth, bureaucracy, poor customer dataWeb as an Encompassing Way of LifeWeb = Everything (P.D. to after-sales)Web forces you to focus on what you do bestWebas entrée, at any size, to World’s Best at Everything as next door neighbor
?????????Home Furnishings … 94%Vacations … 92%Houses … 91%Consumer Electronics … 51% Cars … 60% (90%)Allconsumerpurchases … 83%Bank Account … 89%Health Care … 80%
2/3rds working women/50+% working wives > 50%80% checks61% bills53% stock (mutual fund boom)43% > $500K95% financial decisions/ 29% single handed
Women …50+%(!!!) of Web users; 6 of 10 new users; 83% of wired women are primary decision makers for family healthcare, finances, education.Source: Business Week; Jupiter Communications
FemaleThink/ Popcorn“Men and women don’t think the same way, don’t communicate the same way, don’t buy for the same reasons.”“He simply wants the transaction to take place. She’s interested in creating a relationship. Every place women go, they make connections.”
Women and Financial AdvisorsWomen want … a plan, to be listened to,to betaken seriously, to read about it, to think about it.Women do not want … an in-your-face sales pitchSource: Kathleen Boyle, Wheat Boyle Butcher Singer
“Women Beat Men at Art of Investing”Source: Miami Herald, reporting on a study by Profs. Terrance Odean and Brad Barber, UC Davis(Cause: Guys are “in and out” of stocks more often; women choose carefully and hold on for the long term)
