+1/-1
S&P 500
+1/-1*
*Every …
!
2 weeks
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
Buy a
very large
one and just
wait.”
myself?’ The answer seems obvious:
—Paul Ormerod, Why Most Things Fail:
Evolution, Extinction and Economics
Two First
Things BEFORE
First Things
Conrad
Hilton …
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 …
“Remember
to tuck the
shower curtain
inside the
bathtub.”
IS
“EXECUTION
STRATEGY.”
—Fred Malek
1/48
READY.
FIRE.
AIM.
H. Ross Perot (vs “Aim! Aim! Aim!” /EDS vs GM/1985)
“EXPERIMENT
FEARLESSLY”
Tactic #1
Source: BusinessWeek, “Type A Organization Strategies: How to Hit a Moving Target”—
“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)
1/48:
WTTMSW
WHOEVER
TRIES
THE
MOST
STUFF
WINS
LONG
Tom Peters’
!
EXCELLENCE
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.
Can you at least cross
it diagonally?”
[$100B/Millisecond]
“The greatest
shortcoming of the
human race is our
inability to
understand the
exponential
function.”
1/721:
—Albert A. Bartlett
IoT/The Internet of Things
IoE/The Internet of
Everything
M2M/Machine-to-Machine
Ubiquitous computing
Embedded computing
Pervasive computing
Industrial Internet
Etc.* ** ***
*“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
‘We’re about
creating the
conscious home,’
to the lowly smoke detector.
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
Walmart SV =
1,500
“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.”
NO OPTION:
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?”
“You are headed
for commodity
hell if you don’t
have services.”
—Lou Gerstner, on IBM’s coming revolution
M
IB
to
B
I
M
Planetary Rainmaker-in-Chief!
“[CEO Sam] Palmisano’s
strategy is to expand tech’s
borders by pushing users—
and entire industries—toward
radically different business
models. The payoff for IBM would be
access to an ocean of revenue—Palmisano
estimates it at $500 billion a year —
that technology companies have never been
able to touch.” —Fortune
“If I could have chosen not to tackle the IBM culture head-on,
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
IT IS THE
GAME.”
game—
—Lou Gerstner, Who Says Elephants Can’t Dance
“THE GIANT STALKING BIG OIL:
Schlumberger
How
Is 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.”
—Economist
PS
UPS
U
to
“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
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.”
know or ever use.
—Peter Pronovost, Safe Patients, Smart Hospitals
hundreds of
times better
here
“I am
[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!
“Technology
Executive” (workin’ in a hospital)
HCare CIO:
Full-scale,
Accountable (life or death)
Member-Partner of
XYZ Hospital’s Senior
Healing-Services
Team
Or/to:
(who happens to be a techie)
The PSF35: The Client Experience
11. 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-inPlanet Team for the Project
13. 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)
IMPLEMENTATION IS NOT COMPLETE
UNTIL THE CLIENT HAS EXPERIENCED
“CULTURE CHANGE”
16. IMPLEMENTATION IS NOT COMPLETE
UNTIL SIGNIFICANT “TECHNOLOGY
TRANSFER” HAS TAKEN PLACE-ROOT
15.
(“Teach a man to fish …”)
17.
The Final Exam: DID WE MAKE A DRAMATIC,
LASTING, GAME-CHANGING DIFFERENCE?
“… this will be
the woman’s
century …”
“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
higher.”
56%
—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-making
Source: 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?”
Selling Is a Woman’s Game:
15 Powerful Reasons Why Women Can Outsell
Men, Nicki Joy & Susan Kane-Benson
Source/from the back cover:
“Forget CHINA,
INDIA and the
INTERNET: Economic
Growth Is Driven by
WOMEN.”
Source: Headline, Economist
W>
2X (C + I)*
*“Women now drive the global economy. Globally, they control about $20
trillion in consumer spending, and that figure could climb as high as
$28 trillion
in the next five years. Their
$13 trillion in total yearly earnings could reach $18 trillion in the same
period. In aggregate, women represent a growth market bigger than China and India combined—more than
twice as big in fact. Given those numbers, it would be foolish to ignore or underestimate the female consumer. And
yet many companies do just that—even ones that are confidant that they have a winning strategy when it comes to
women. Consider Dell’s …”
Source: Michael Silverstein and Kate Sayre, “The Female Economy,” HBR, 09.09
Women as …
55%
Purchasing managers: 42%
Wholesale/retail buyers: 52%
Purchasing agents:
Employee health-benefit
plans:
60%
Source: Martha Barletta/TrendSight Group/0517.11
MBWA
25*/50**
*Howard’s religion (MBWA)
**Dov’s Big 2
“If I had to
pick one failing
of CEOs, it’s
that …
—Co-founder of one of the largest investment services firms in the USA/world
“If I had to pick one failing of
they
don’t read
enough.”
CEOs, it’s that …
1 Mouth,
Ears
“The doctor
interrupts
after …*
*Source: Jerome Groopman, How Doctors Think
18 …
18 …
seconds!
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
1/4,096: excellencenow.com
“Business has to give people enriching,
or it's
simply not
worth doing.”
rewarding lives …
—Richard Branson
Oath of Office: Managers/Servant Leaders
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
business.”
“We” [leaders] only grow when “they” [each and every one of our colleagues] are
growing.
“We” [leaders] only succeed when “they” [each and every one of our colleagues]
are succeeding.
“We” [leaders] only energetically march toward Excellence when
“they” [each and every one of our colleagues] are energetically marching
toward Excellence.
Period.
Your principal
moral obligation 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!
CORPORATE MANDATE #1 2014:
st
1 -Line
Bosses
[Cadre of] =
Productivity Asset
#1!
“People leave
managers not
companies.”
—Dave Wheeler
Hiring.
“development can help great people
be even better— but
if
I had a dollar to spend, I’d
70 cents
spend
getting the right person in
the door.”
—Paul Russell, Director, Leadership and
Development, Google
Training =
Investment
#1
Gamblin’ Man
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.
Promoting:
2/year =
Legacy.
Promotion Decisions
“life and
death
decisions”
Source: Peter Drucker, The Practice of Management
Social Business/
Tech++
Biz 2014: Get Aboard the “S-Train”
SM/Social Media.
SX/Social eXecutives.
SE/Social Employees.
SO/Social Organization.
SB/Social Business.
IBM Social Business Markers/2005-2012
*433,000 employees on IBM Connection
*26,000 individual blogs
*91,000 communities
*62,000 wikis
*50,000,000 IMs/day
*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
!
Excellence
Kevin Roberts’ Credo
1. Ready. Fire! Aim.
2.
3.
4.
5.
6.
7.
8.
9.
If it ain’t broke ... Break it!
Hire crazies.
Ask dumb questions.
Pursue failure.
Lead, follow ... or get out of the way!
Spread confusion.
Ditch your office.
Read odd stuff.
10.
AVOID MODERATION!