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Tom Peters’ Re-Ima g ine2006! Business Excellence in a Disru p tive A g e Madrid /21-22February2006

Tom Peters’ Re-Ima g ine2006! Business Excellence in a Disru p tive A g e Madrid /21-22February2006. China!. China!. China!. China. Ch. THREE BILLION NEW CAPITALISTS —Clyde Prestowitz. Re-imagine! Not Your Father’s World I. 26 m.

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Tom Peters’ Re-Ima g ine2006! Business Excellence in a Disru p tive A g e Madrid /21-22February2006

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  1. Tom Peters’ Re-Imagine2006!Business Excellence in a Disruptive AgeMadrid/21-22February2006

  2. China!

  3. China!

  4. China!

  5. China

  6. Ch

  7. THREE BILLION NEW CAPITALISTS—Clyde Prestowitz

  8. Re-imagine!Not Your Father’s World I.

  9. 26m

  10. “U.S. manufacturers and retailers are shifting their domestic warehouses and distribution facilities to China as they seek to make supply chains more efficient”—Headline, page 1, Financial Times, 11.07.2005

  11. 43h

  12. “China’s Next Export:Innovation”—McKinsey Quarterly (Cover Story)

  13. 2003: 98% U.S.2005: U.S. 150; Shanghai 500

  14. 168/18,500/51,000

  15. China’s share of global consumption/2005:Cement … 47%Cotton … 37%Coal … 30% Steel … 26%Source: BusinessWeek/08.05

  16. Savings, internal investment, external investment> 50% GDP

  17. 2.5M vs 7.1M40/40

  18. “Suddenly, China is the No. 3 consumer of high-end goods”Source: BusinessWeek, 0206.06 (from “To Get Rich Is Glorious”)

  19. 35/70

  20. 600,000350,00070,000

  21. “Beijing Rushes to Build World-class Universities”—Headline, International Herald Tribune, 1028.05**Headline, same day: “China Bank Becomes a Giant Worth $470 Billion”

  22. Re-imagine!Not Your Father’s World II.

  23. “Income Confers No Immunity as Jobs Migrate”—Headline/USA Today/02.2004

  24. “There is no job that is America’s God-given right anymore.”—Carly Fiorina/HP/January2004

  25. December 9, 2005: “Ogre to Slay? Outsource It to Chinese” (New York Times, page 1—news section). The “factory”: Fuzhou, China. The workers: youngsters logging 12-hour shifts. Their clientele: youngsters from “Seoul to San Francisco.” The “work”: The Chinese youngsters are playing the early levels of video games for their affluent “clients,” who want to avoid the pain and time associated with those annoying first few levels.

  26. “In a global economy, the government cannot give anybody a guaranteed success story, but you can give people the tools to make the most of their own lives.”—WJC, from Philip Bobbitt, The Shield of Achilles: War, Peace, and the Course of History

  27. Re-imagine! Not Your Father’s World III.

  28. “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)

  29. The General’s Story. (And Darwin’s)

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

  31. “It is not the strongest of the species that survives, nor the most intelligent, but the one most responsive to change.”—Charles Darwin

  32. My Story.

  33. Excellence!The Basics, 1982-2006

  34. Excellence1982: The Bedrock “Eight Basics” 1. A Bias for Action 2. Close to the Customer 3. Autonomy and Entrepreneurship 4. Productivity Through People 5. Hands On, Value-Driven 6. Stick to the Knitting 7. Simple Form, Lean Staff 8. Simultaneous Loose-Tight Properties”

  35. ExIn*: 1982-2002/Forbes.comEI: $10,000 yields $140,050DJIA: $10,000 yields $85,000*Basket of 32 publicly traded stocks

  36. Excellence2006: The Bedrock Baker’s Dozen • 1. A Bias For Action Is Job One!(Construct a Discipline/Culture of EXECUTION!) • 2. DECENTRALIZATION! ACCOUNTABILITY!(Tom’s “Top Two”, 1965-2005.) • 3. Fail. Forward. Fast.(“Reward Excellent Failures, Punish Mediocre Successes.”) • 4. “Metabolic Management” Matters!(Hustle! Adapt! EAT CHANGE! Win the • “O.O.D.A. Loop” War—Confuse Your Competitors!) • 5. INNOVATE or Die.(“Game-changers” or Bust! Lead the Customer! Just Shout “NO” to Imitation!) • 6. A Damn Good Product.(Pursue “Dramatic Difference.”) • 7. A Damn Cool Product.(Design Rules!) • 8. Ride the Value Added Curve to the Sky!(Sell “GamechangerSolutions”; Provide “Scintillating Experiences”; Become a “Dream Merchant”; Strive to Be a “Lovemark.”) • 9. Relentlessly Pursue the “Big Two” Markets.(WOMEN Buy Everything • BOOMERS & GEEZERS Have All the Money!) • 10. Best “Talent”/Roster Wins!(HR Rules! Everyone a Leader! Women Lead Best! • “Weird” Matters Most! A Workplace to Brag About! Educate for Creativity!) • 11. Demanded: Radical Technology Strategies!(“Incrementalism” Is for Wimps!) • 12. Hard Is Soft! Soft Is Hard!(People! Passion! Enthusiasm! Wow! INTEGRITY! TRUST! Good Citizenship.) • 13. Accept No Less Than EXCELLENCE!(Excellence, Pursuit thereof, Is the #1 Thing That Vaults Us Out of Bed in the Morning)

  37. 13. Do you understand Business Mantra #1 of the ’00s:DON’T TRY TO COMPETE WITH WAL*MART ON PRICE OR CHINA ON COST?

  38. Everybody’s Story.

  39. “One Singaporean workercosts as much as …3 … in Malaysia 8 … in Thailand 13 … in China 18 … in India.”Source: The Straits Times/2003

  40. “One Singaporean workercosts as much as …3 … in Malaysia8 … in Thailand 13 … in China 18 … in India.”Source: The Straits Times/2003

  41. “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/2004

  42. Better By Design: A National StrategyNZ = Design Excellence

  43. What an Evolving-Bizarre Story: E.g., Life Sciences

  44. “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

  45. “We face the biggest change in tens of thousands of years in what it means to be human.” … “In just 20 years the boundary between fantasy and reality will be rent asunder.”(Rodney Brooks, AIL/MIT) … “We are at an inflection point in history.” … “It is about the defining cultural, social, and political issue of our age. It is about human transformation.”Source: Radical Evolution: The Promise and Peril of Enhancing Our Minds, Our Bodies—and What It Means to Be Human, Joel Garreau

  46. I. NEW BUSINESS. NEW CONTEXT.

  47. 1. Re-imagine Permanence: The Naked Emperor Problem!

  48. Pathetic!

  49. “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

  50. “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

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