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Tom Peters
Seminar2004
NEW SLIDES
09.28.04
“To win this race, Kerry needs to stop focusing on Election Day and start
thinking about his would-be presidency’s last day. What does he want his legacy to be? When sixth-graders in the year 2108 read about the Kerry presidency, what does he want the one or two sentences that
accompany his photo to say?” —Kenneth Baer/Washington Post/092604
Narrowcast World …
Infomercials … $256 billion Quantity … 250,000 per month (U.S. & Canada) Growth rate … 10% p.a. Purchases … $91 billion Price … $50/30-minutes to $15,000/30 min Source: Washington Post/09.26.04
60,000
600/200
168/18,500/51,000
60,000*
*New factories in China opened by foreigners/2000-2003/
Edward Gresser, Progressive Policy Institute/Wall Street Journal 09.27.04
Ex2004:Excellence
Found!Tom Peters
09.24.2004
And the Winner is …
1. Audacity of Vision2. Innovation/R&D/Design3. Talent Acquisition & Development4. Resultant “Experience”5. Strategic Alliances6. Operations7. Financial Management8. Overall/Sustaining Excellence9. “Wow!”
Cirque du Soleil!
Cirque du Soleil: Talent (12 full-time
scouts, database of 20,000). R&D (40% of
profits; 2X avg corp). Controls (shows are profit centers; partners like Disney offset costs;
$100M on $500M). Scarcity builds buzz/brand (1 new show per year. “People tell me we’re leaving money on the table by not duplicating our shows. They’re right.”—Daniel
Lamarre, president).Source: “The Phantasmagoria Factory”/Business 2.0/1-2.2004
Ex2004
Cirque du Soleil
Infosys
Build-A-Bear
Oceanic Aspirations …
“By making the Global Delivery Model both legitimate and mainstream, we have brought the battle to our territory. That is, after all, the purpose of
strategy. We have become the leaders, and incumbents [IBM, Accenture] are followers, forever playing catch-up. … However, creating a new business
innovation is not enough for rules to be changed. The innovation must impact clients, competitors, investors, and society. We have seen all this in
spades. Clients have embraced the model and are demanding it in even greater measure. The acuteness of their circumstance, coupled with the capability and value of our solution, has made the choice not a choice.
Competitors have been dragged kicking and screaming to replicate what we do. They face trauma and disruption, but the game has changed forever. Investors have grasped that this is not a passing fancy, but a potential
restructuring of the way the world operates and how value will be created in the future.”
—Narayana Murthy, chairman’s letter, Infosys Annual Report 2003
Build-A-Bear
--1997 to 2004: $0 to $300M
--Maxine Clark/CEO (25 yrs May Dept Stores)
--Build-A-Bear Workshops
--Engagement! (“Where Best Friends Are Made”)
--Theater!
--http://www.buildabear.com/buildaparty
Best Web Site?
buildabear.com
09.21.04
The Hunch of a Lifetime: An Emergent (Market) Nexus
I have a sense/hunch there’s an interesting nexus among several of the ideas about New Market Realities that I promote … namely Women-Boomers-Wellness-Green-Intangibles. Each one drives the Fundamental (Traditional) Economic Value Proposition toward the “softer side”: From facts- & figures-obsessed males toward relationship-oriented Women. From goods-driven youth toward “experiences”-craving Boomers. From quick-fix & pill-popping “healthcare” toward a holistically inclined “Wellness Revolution.” From mindless exploitation of the Earth’s resources toward increased awareness of the fragility and preciousness of our Environment. From “goods” and “services” toward Design- & Creativity-rich Intangibles-Experiences-Dreams Fulfilled. This so-called “softer side”—as the disparate likes of IBM’s Sam Palmisano and Harley-Davidson’s Rich Teerlink teach us—is now & increasingly “where the loot is,” damn near all the loot. That is, the “softer side” has become the Prime Driver of tomorrow’s “hard” economic value. Furthermore, each of the Five Key Ideas (Women-Boomers-Wellness-Green-Intangibles) feeds off and complements the other four. Dare I use the word “synergy”? Perhaps. (Or: Of course!) I can imagine an enterprise defining its raison d’etre in terms of these Five Complementary Key Ideas. (HINT: DAMN FEW DO TODAY.)
An Emergent Nexus
Men …………………………….……………….... WomenYouth ………………………………… Boomers/Geezers“Fix It”Healthcare………………... Wellness/PreventionExploit-the-Earth ……...... Preserve/Cherish the PlanetTangibles ……………………………………… Intangibles
Ye gads: “Thomas Stanley has not only found no correlation between success in school and an
ability to accumulate wealth, he’s actually found a negative correlation. ‘It seems that school-
related evaluations are poor predictors of economic success,’ Stanley concluded. What did predict success was a willingness to take risks.
Yet the success-failure standards of most schools penalized risk takers. Most educational
systems reward those who play it safe. As a result, those who do well in school find it hard to
take risks later on.”Richard Farson & Ralph Keyes, Whoever Makes the Most Mistakes Wins
09.17.04
“We’re now entering a new phase of business where the group will be a
franchising and management company where brand management is central.”
—David Webster, Chairman, InterContinental Hotels Group
“InterContinental will now have far more to do with brand ownership than
hotel ownership.” —James Dawson of Charles Stanley
(brokerage)
Source: International Herald Tribune, 09.16, on the sacking of CEO Richard North, whose entire background is in finance
“What I am really wanting to do is a design school, to teach the sensibility that
goes into the building of a business into a company with
a point of view.” —Ralph Lauren, International Herald Tribune/09.16.2004
“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)
“A man can stand anything except a
succession of ordinary days”
—Goethe
“[At Pfizer, Merck, Unilever, Nestle] and other companies, the standard stage-gate approach to
product development has become ingrained that it has driven out the very innovative thinking that it was designed to encourage. And while the returns on
innovation effort appear to be falling for large companies, it is often the unheralded start-up or new entrant that comes up with the latest hit product. …
Thus, Coca-Cola, once celebrated for its innovation and vision, has been late to every new trend in the drinks
industry in the past decade, from sports drinks to bottled water.” —Julian Birkenshaw, Rick Delbridge & John Bessant,
“A Leap into the Unknown,” FT/09.17.04
On Great Innovation Leaps
“Tune into weak signals inside the firm … A good place to look for new ideas is distant
foreign subsidiaries, smaller business units and affiliated companies that the company does not even wholly own. For example, Diageo’s highly successful Smirnoff Ice originated in Australia as Stolichnaya before it was picked up by the corporate marketing department as a product
with global potential.” —Julian Birkenshaw, Rick Delbridge & John Bessant, “A Leap into the Unknown,” FT/09.17.04
09.13.04
“About a year ago I hired a developer in India to do my job. I pay him $12,000 to do the job I get paid $67,300
for. He is happy to have the work. I am happy that I only have to work about 90 minutes per day (I still have to attend meetings myself, and I spend a few minutes
every day talking code with my Indian counterpart.) The rest of my time my employer thinks I’m telecommuting.
They are happy to let me telecommute because my output is higher than most of my coworkers. Now I’m considering getting a second job and doing the same
thing with it. That may be pushing my luck though. The extra money would be nice, but that could push my
workday over five hours.” —from posting at Slashdot (02.04.04), reported by Dan Pink, A Whole New Mind
“Most of what I see is elimination
of the middle people.” —Lee Scott, CEO, Wal*Mart, on
the relentless drive to even further reduce costs (Christmas tree lights at Asda v. Wal*Mart USA: $21 v $6, same factory)
“For a woman, speech has a clear purpose: to build relationships and make friends—not to solve
problems. A woman can spend two weeks on vacation with her girlfriend and, when she returns home,
telephone the same girlfriend and talk for another two hours. For a man, not talking is perfectly natural. For
men, to talk is to relate the facts. Men see the telephone as a communication tool for relaying facts and information to other people, but a woman sees it
as a means of bonding.” —Allan Pease & Barbara Pease, Why Men Can Only Do One Thing at a Time and Women Never Stop Talking
How many men does it take to change a roll of toilet paper?
It’s unknown. It’s never happened.
Source: Allan Pease & Barbara Pease, Why Men Can Only Do One Thing at a Time and Women Never Stop Talking
“Society today is determined to believe that men and women possess
the same skills, aptitudes and potentials—just as science, ironically,
is beginning to prove that we are completely different. —Allan Pease & Barbara
Pease, Why Men Can Only Do One Thing at a Time and Women Never Stop Talking
“The latest mobiles, on sale for $200 to $300 in Japan, function as wallets, letting people pay
their utility bills or buy movie tickets by putting their handset near a reader. … New I-mode
phones also have a bar-code-reading camera that people can point at the bar code on a
magazine or poster, taking them straight to the Website with updated and detailed information on, say, a concert or a discount sale.” —“Super
Phone: Kei-Ichi Enoki, a founding father of the mobile Web, is moving beyond email and games to make the phone a remote
control for living” (Forbes Global/09.20.2004)
“Never let reality get in the way of
imagination” —Azar Nafisi, author of Reading Lolita in Teheran
(from Audi’s “Never Follow” Website)
“Learn not to be
careful”
—Photographer Diane Arbus to her students (Careful = “The sidelines,” per Harriet Rubin in The Princessa)
“Never bite off less than
you can chew” —Freddy Adu, teenage soccer phenom (from Audi’s
“Never Follow” Website)
Self-serve Nation!
Radisson: check-in via Web up to 1-week prior to arrival
Holiday Inn: computer menu, also keeps track bill and a running total of calories
and carbs
Hilton: roaming check-in clerks, WiFi-enabled
Source: USA Today/08.31.04
“We don’t see Pele’s work as destruction but as
cleansing. She’s a creator. When she comes through she wipes the land clean and leaves us new fertile
ground.” —Keola Hanoa, on the Big Island’s volcanoes (National Geographic/10.04)
“When the Silk Road Gets Paved”/Forbes Global/09.04
Express highways: 168 miles in ’89 … 18,500 in ’03 … 51,000 in ’08 (v. U.S.
Interstate: 46,500)
Implications: $200M Intel plant in Chengdu (pop. 9.9M); 1/3rd Shanghai
wage rate
International Herald Tribune
/09.13.2004: P1/600 foreign R&D labs in China, 200 new
per year
New Delhi/09.13.2004/The Economic Times
P1: “Airport Traffic Racks Up 26% Growth in 4 Months”
P1: “EMPLOYABLE GRADUATES IN DEMAND” (“The Business Process Outsourcing sector is facing a roadblock. …BPO companies are struggling to hire new employees in sufficient numbers. …”)
P11: “Tourist Arrivals Surge 26% in Lean Apr-Aug”
BLS/Payroll Survey: 500K since 11.01
BLS/Household Survey: 3.25M since 11.01
“In other words, millions of people are not reporting to work. They are
starting businesses. … Traditional payroll jobs aren’t coming back in in
big numbers.” —Rich Karlgaard, Publisher, Forbes (09.20.04)