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Tom Peters’ Re-Imagine!Business Excellence in a Disruptive AgeBuenos Aires/05October2005
“WE ARE BEGINNING TO ACQUIRE … DIRECT AND DELIBERATE CONTROL … OVER THE EVOLUTION OF ALL LIFE FORMS … ON THE PLANET.”Source: Juan Enriquez, As The Future Catches You
“This is a dangerous world and it is going to become more dangerous.”“We may not be interested in chaos but chaos is interested in us.”Source: Robert Cooper, The Breaking of Nations: Order and Chaos in the Twenty-first Century
“A focus on cost-cutting and efficiency has helped many organizations weather the downturn, but this approach will ultimately render them obsolete.Only the constant pursuit of innovation can ensure long-term success.”—Daniel Muzyka, Dean, Sauder School of Business, Univ of British Columbia (FT/09.17.04)
“From the United States to Europe and Japan, more patents were sought in the past 20 years than the previous 100, evidence that protecting the rights to an idea is itself growing in importance.‘Patents are becoming the highest-value assets in any economy,’said Jerry Sheehan, an economist with the OECD.”—International Herald Tribune/10.03.05/“THE IDEA ECONOMY: Who Owns What” (a series)
U.S. Patent Office/Patents Granted19851998Venezuela 15 …………… 29Argentina 12 …………… 46Mexico 35 …………... 77Brazil 30 …………… 88South Korea 50 …… 3,362 Source: Juan Enriquez/Asthe Future Catches You
“If you don’t like change, you’re going to like irrelevance even less.” —General Eric Shinseki, Chief of Staff. U. S. Army
“It is not the strongest of the species that survives, nor the most intelligent, but the one most responsive to change.”—Charles Darwin
Importance of Success Factors by Various“Gurus”/Estimates by Tom PetersStrategySystemsPeoplePassionPorter 50% 20 20 10 Drucker 30% 35 20 15 Bennis 25% 20 30 25 Peters 15% 20 35 30
Charles Handy on the “alchemists”: “Passion was what drove these people, passion for their product or their cause.If you care enough, you will find out what you need to know. Or you will experiment and not worry if the experiment goes wrong. Passion as the secret to learning is an odd secret to propose, but I believe that it works at all levels and at all ages. Sadly, passion is not a word often heard in the elephant organizations, nor in schools, where it can seem disruptive.”
This I Believe: Tom’s Super-TIB251. TECHNICOLOR Times.2. Passion! Enthusiasm! Energy!3. Action/R.F.A./O.O.D.A. Speed.4. Screw-ups. BIG SCREW-Ups!5. Mess! Improv!6. Revolution! Re-imagine!7. INNOVATE OR DIE! 8.Decentralize!9.Bulk is BULL! (Mergers don’t work. FOCUS Does!)10 “Different” > “Better”11. eALL/Power Tools for Power Strategies!12. Forgetting/Destruction.13. Hot Language Matters!14. WOW!/WOW Projects.15. VA Bedrock: The “PSF.” (Professional Service Firm.)16. Daring.17. Talent Time! Leaders “Do” People!18. Talent+/Diversity.19. Talent++/Women Rule!20. “Brand You” Universe.21. Design!22. Gasp-worthy Experiences/Lovemarks.23. New Market Demographics/Women/Boomers & Geezers/Green/Wellness.24.Grace.25.EXCELLENCE!
“One Singaporean workercosts as much as …3 … in Malaysia 8 … in Thailand 13 … in China 18 … in India.”Source: The Straits Times/08.18.03
“One Singaporean workercosts as much as …3 … in Malaysia8 … in Thailand 13 … in China 18 … in India.”Source: The Straits Times/08.18.03
“Thaksinomics” (after Thaksin Shinawatra, PM)/ “Bangkok Fashion City”:“managed asset reflation”(add to brand value of Thai textiles by demonstrating flair and design excellence)Source: The Straits Times/03.04.2004
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
“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 large one and just wait.”—Paul Ormerod, Why Most Things Fail: Evolution, Extinction and Economics
“Value innovation is about making the competition irrelevant by creating uncontested market space. We argue that beating the competition within the confines of the existing industry is not the way to create profitable growth.” —Chan Kim & Renée Mauborgne (INSEAD), from Blue Ocean Strategy (The Times/London/01.20.2005)
“Under his former boss, Jack Welch, the skills GE prized above all others were cost-cutting, efficiency and deal-making. What mattered was the continual improvement of operations, and that mindset helped the $152 billion industrial and finance behemoth become a marvel of earnings consistency. Immelt hasn’t turned his back on the old ways. But in his GE, the new imperatives are risk-taking, sophisticated marketing and, above all, innovation.”—BW/032805
“Almost every personal friend I have in the world works on Wall Street. You can buy and sell the same company six times and everybody makes money,but I’m not sure we’re actually innovating. … Our challenge is to take nanotechnology into the future, to do personalized medicine …”—Jeff Immelt/Fast Company/07.05
“Not a single company that qualified as having made a sustained transformation ignited its leap with a big acquisition or merger.Moreover, comparison companies—those that failed to make a leap or, if they did, failed to sustain it—often tried to make themselves great with a big acquisition or merger. They failed to grasp the simple truth that while you can buy your way to growth, you cannot buy your way to greatness.”—Jim Collins/Time/11.29.04
“Acquisitions are about buying market share.Our challenge is to create markets.There is a big difference.”—Peter Job, CEO, Reuters
“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%)
Scale’s Limitations: “All Strategy Is Local: True competitive advantages are harder to find and maintain than people realize. The odds are best in tightly drawn markets, not big, sprawling ones” —Title/Bruce Greenwald & Judd Kahn/HBR09.05
No Wiggle Room!“Incrementalism is innovation’s worst enemy.”Nicholas Negroponte
“Beware of the tyranny of making SmallChanges to SmallThings. Rather, make BigChanges to BigThings.”—Roger Enrico, former Chairman, PepsiCo
“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