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Tom Peters EXCELLENCE. ALWAYS. Harvard Business Review America Latina Santiago/14 October 2008.

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1 Tom Peters EXCELLENCE. ALWAYS. Harvard Business Review America Latina Santiago/14 October 2008

2 NOTE: To appreciate this presentation [and ensure that it is not a mess ], you need Microsoft fonts: Showcard Gothic, Ravie, Chiller and Verdana

3 Slides at … tompeters.com

4 Tom let me tell you the definition of a good lending officer. After church on Sunday, on the way home with his family, he takes a little detour to drive by the factory he just lent money to. Doesnt go in or any such thing, just drives by and takes a look.

5 1982

6 MBWA

7 Excellence1982: The Bedrock Eight Basics 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 Properties

8 Breakthrough 82* People! People!Customers!Action!Values! *In Search of Excellence

9 Hard Is Soft Soft Is Hard

10 Hard Is Soft (Plans, # s ) Soft Is Hard (people, customers, values, relationships))

11 We Have Met the Enemy … Thank you, Howard & Howard …

12 Internal organizational excellence = Deepest Blue Ocean

13 When The Enemy Really Wins Lose Your Nemesis:Obsessing about your competitors, trying to match or best their offerings, spending time each day wanting to know what they are doing, and/or measuring your company against themthese activities have no great or winning outcome. Instead you are simply prohibiting your company from finding its own way to be truly meaningful to its clients, staff and prospects. You block your company from finding its own identity and engaging with the people who pay the bills. … Your competitors have never paid your bills and they never will. Howard Mann, Your Business Brickyard: Getting Back to the Basics to Make Your Business More Fun to Run* * Mr Mann also quotes Mike McCue, former VP/Technology at Netscape: At Netscape the competition with Microsoft was so severe, wed wake up in the morning thinking about how we were going to deal with them instead of how we would build something great for our customers. What I realize now is that you can never, ever take your eye off the customer. Even in the face of massive competition, dont think about the competition. Literally dont think about them.

14 Thank you Horst …

15 I [will] not accept the explanation of a recession negatively affecting the [new] business. There are still people traveling. We just have to get them to stay in our hotel. Horst Schulze, on his new chain, Capella, from Prestige (06.08) The Return of History and the End of Dreams

16 Thank you, Herb, Robert, Peter & Siberia …

17 You have to treat your employees like customers. Herb Kelleher, complete answer, upon being asked his secrets to success Source: Joe Nocera, NYT, Parting Words of an Airline Pioneer, on the occasion of Herb Kellehers retirement after 37 years at Southwest Airlines (SWAs pilots union took out a full-page ad in USA Today thanking HK for all he had done; across the way in Dallas American Airlines pilots were picketing the Annual Meeting) way in Dallas American Airlines pilots were picketing the Annual Meeting)

18 The role of the Director is to create a space where the actors and actresses can become more than theyve ever been before, more than theyve dreamed of being. Robert Altman, Oscar acceptance speech

19 … no less than Cathedrals in which the full and awesome power of the Imagination and Spirit and native Entrepreneurial flair of diverse individuals is unleashed in passionate pursuit of … Excellence.

20 Why in the World did you go to Siberia? go to Siberia?

21 Enterprise* ** (*at its best): An emotional, vital, innovative, joyful, creative, entrepreneurial endeavor that elicits maximum concerted human concerted human potential in the wholehearted service of others **Employees, Customers, Suppliers, Communities, Owners, Temporary partners potential in the wholehearted service of others.** **Employees, Customers, Suppliers, Communities, Owners, Temporary partners

22 Thank you Ben & Norm, Ike, Gust, Walt, Mark & Muhammad, Nelson, Ben II and Delaware/ Woody …

23 Give good tea!

24 Allied commands depend on mutual confidence [and this confidence] is gained, above all through the development of friendships. of friendships. General D.D. Eisenhower, Armchair General * (05.08) *Perhaps his most outstanding ability [at West Point] was the ease with which he made friends and earned the trust the ease with which he made friends and earned the trust of fellow cadets who came from widely varied backgrounds; it was a quality that would pay great dividends during his future coalition command. it was a quality that would pay great dividends during his future coalition command.

25 George Crile (Charlie Wilsons War) on Gust Avrakotos strategy: He had become something of a legend with these people who manned the underbelly of the Agency [CIA].

26 ??????? Success doesnt depend on the number of people you know; it depends on the number of people you know in high places! or Success doesnt depend on the number of people you know; it depends on the number of people you know in low places!

27 C(I) > C(E) C(I) > C(E)

28 3K/5M

29 5,000 miles for a 5-minute face-to -face meeting

30 MBWA, Grameen Style! Conventional banks ask their clients to come to their office. Its a terrifying place for the poor and illiterate. … The entire Grameen Bank system runs on the principle that people should not come to the bank, the bank should go to the people. … If any staff member is seen in the office, it should be taken as a violation of the rules of the Grameen Bank. … It is essential that [those setting up a new village Branch] have no office and no place to stay. The reason is to make us as different as possible from government officials. Source: MBWA, Grameen Style! Conventional banks ask their clients to come to their office. Its a terrifying place for the poor and illiterate. … The entire Grameen Bank system runs on the principle that people should not come to the bank, the bank should go to the people. … If any staff member is seen in the office, it should be taken as a violation of the rules of the Grameen Bank. … It is essential that [those setting up a new village Branch] have no office and no place to stay. The reason is to make us as different as possible from government officials. Source: Muhammad Yunus, Banker to the Poor

31

32 I am a dispenser of enthusiasm. I am a dispenser of enthusiasm. Ben Zander

33 eighty percent of success is showing up. Woody Allen

34 L(+21) = L(-21)

35 Leadership(21A.D.) = Leadership(21B.C.)

36 Thank you, 7-11…

37 TP: TP: How to flush $500,000 down the toilet in one easy lesson!!

38 People! People!

39 The leaders of Great Groups love talent and know where to find it. They revel in the talent of others. Warren Bennis & Patricia Ward Biederman, Organizing Genius

40 Brand = Talent.

41 To develop and manage talent; to apply that talent, throughout the world, for the benefit of clients; to do so in partnership; to do so with profit. Our Mission To develop and manage talent; to apply that talent, throughout the world, for the benefit of clients; to do so in partnership; to do so with profit. WPP

42 #1/100 Best Companies to Work for /2005

43 Wegmans

44 #1 cause of Dis-satisfaction?

45 2/year = legacy.

46 53 = 53

47 Leadersdo people. Period. Leadersdo people. Period. Anon.

48 LeadersSERVE people. Period. LeadersSERVE people. Period. inspired by Robert Greenleaf

49 The Dream Manager Matthew Kelly An organization can only become the-best-version-of- itself to the extent that the people who drive that organization are striving to become better-versions-of- themselves. A companys purpose is to become the- best-version-of-itself. The question is: What is an employees purpose? Most would say, to help the company achieve its purposebut they would be wrong. That is certainly part of the employees role, but an employees primary purpose is to become the-best- version-of-himself or –herself. … When a company forgets that it exists to serve customers, it quickly goes out of business. Our employees are our first customers, and our most important customers.

50 Thank you, Rich …

51 Mapping your competitive position* or … *Rich DAveni/HBR

52 The Have you … 50* *See Appendix One

53 1. Have you in the last 10 days … visited a customer? 2. Have you called a customer … TODAY? * * * 1. Have you in the last 10 days … visited a customer? 2. Have you called a customer … TODAY? * * *

54 The XF-50: 50 Ways to Enhance Cross-Functional Effectiveness and Deliver Speed, Service Excellence and Value-added Customer Solutions* *Entire XF-50 List is an Appendix to the LONG version of this presentation, posted at tompeters.com

55 X =XFX* * Excellence = Cross-functional Excellence

56 Never waste a lunch! Never waste a lunch!

57 ???? ???? % XF lunches* *Measure!

58 Thank you, Richard & Marcus …

59 I used to have a rule for myself that at any point in time I wanted to have in mind as it so happens, also in writing, on a little card I carried around with me the three big things I was trying to get done. Three. Not two. Not four. Not five. Not ten. Three. Richard Haass, The Power to Persuade

60 Dennis, you need a … To-dont List !Dennis, you need a … To-dont List !

61 The one thing you need to know about sustained individual success: Discover what you dont like doing and stop doing it. The one thing you need to know about sustained individual success: Discover what you dont like doing and stop doing it. Marcus Buckingham, The One Thing You Need to Know

62 You = Your calendar* *Calendars never lie

63 Thank you, Dr. Groopman …

64 18

65 Thank you, Marshall & Edie …

66 To develop others, start with yourself. Marshall Goldsmith

67 Being aware of yourself and how you affect everyone around you is what distinguishes a superior leader. Edie Seashore (Strategy + Business #45)

68 How can a high-level leader like _____ be so out of touch with the truth about himself? Its more common than you would imagine. In fact, the higher up the ladder a leader climbs, the less accurate his self-assessment is likely to be. The problem is an acute lack of feedback [especially on people issues]. Daniel Goleman (et al.), The New Leaders

69 You must be the change you wish to see in the world. You must be the change you wish to see in the world. Gandhi

70 Thank you, Dave …

71 The four most important words in any organization are … What do you think? are … What do you think? Source: courtesy Dave Wheeler, posted at tompeters.com, source of original unknown (0609.08) tompeters.com, source of original unknown (0609.08)

72 TP: People are always ready to tell their story! See also: The story leaners edge (Steve Farber) The dream manager (Matthew Kelly)

73 Buy in- Ownership- Authorial bragging rights-Born again Champion = One Line of Code!

74 "Trust the development expertsall seven billion of them. headline, Financial Times, 0529.08, to an article by development guru William Easterly, commenting negatively on the World Bank Growth Commissions recent report that concludes, in effect, trust the World Bank experts

75 Thank you, Henry, Marshall & Steve …

76 Courtesies of a small and trivial character are the ones which strike deepest in the grateful and appreciating heart.Courtesies of a small and trivial character are the ones which strike deepest in the grateful and appreciating heart. Henry Clay

77 THERE ONCE WAS A TIME WHEN A THREE-MINUTE PHONE CALL WOULD HAVE AVOIDED SETTING OFF THE DOWNWARD SPIRAL THAT RESULTED IN A COMPLETE RUPTURE. Relationships (of all varieties) : THERE ONCE WAS A TIME WHEN A THREE-MINUTE PHONE CALL WOULD HAVE AVOIDED SETTING OFF THE DOWNWARD SPIRAL THAT RESULTED IN A COMPLETE RUPTURE.

78 THE PROBLEM IS RARELY/NEVER THE PROBLEM. THE RESPONSE TO THE PROBLEM INVARIABLY ENDS UP BEING THE REAL PROBLEM THE PROBLEM IS RARELY/NEVER THE PROBLEM. THE RESPONSE TO THE PROBLEM INVARIABLY ENDS UP BEING THE REAL PROBLEM.* ** *Watergate, M Stewart, BR PERCEPTION IS ALL THERE IS! **And: PERCEPTION IS ALL THERE IS!

79 I regard apologizing as the most magical, healing, restorative gesture human beings can make. It is the centerpiece of my work with executives who want to get better. Marshall Goldsmith, What Got You Here Wont Get You There: How Successful People Become Even More Successful

80 We are thoughtful in all we do.

81 Thoughtfulness is key to customer retention. Thoughtfulness is key to employee recruitment and satisfaction. and satisfaction. Thoughtfulness is key to brand perception. Thoughtfulness is key to your ability to look in the mirrorand tell your kids about your job. Thoughtfulness is free. Thoughtfulness is key to speeding things up it reduces friction. it reduces friction. Thoughtfulness is key to transparency and even cost containmentit abets rather than stifles cost containmentit abets rather than stifles truth-telling. truth-telling.

82 Kindness is free.

83 Press Ganey Assoc: 139,380 former patients from 225 hospitals: none of THE top 15 factors determining P atient S atisfaction referred to patients health outcome P.S. directly related to Staff Interaction P.P.S. directly correlated with Employee Satisfaction Source: Putting Patients First, Susan Frampton, Laura Gilpin, Patrick Charmel

84 Kindness is free. There is a misconception that supportive interactions require more staff or more time and are therefore more costly. Although labor costs are a substantial part of any hospital budget, the interactions themselves add nothing to the budget. Kindness is free. Listening to patients or answering their questions costs nothing. It can be argued that negative interactionsalienating patients, being non-responsive to their needs or limiting their sense of controlcan be very costly. … Angry, frustrated or frightened patients may be combative, withdrawn and less cooperativerequiring far more time than it would have taken to interact with them initially in a positive way.Putting Patients First, Susan Frampton, Laura Gilpin, Patrick Charmel

85 Griffin: Music in the parking lot; professional musicians in the lobby (7/week, 3-4hrs/day) ; 5 pianos ; volunteers (120-140 hrs arts & entertainment per month). Source: Putting Patients First, Susan Frampton, Laura Gilpin, Patrick Charmel

86 1. The Importance of Human Interaction Informing and Empowering Diverse Populations: Consumer Health Libraries and Patient Information Healing Partnerships: The importance of Including Friends and Family Nutrition: The Nurturing Aspect of Food Spirituality: Inner Resources for Healing 6. Human Touch: The Essentials of Communicating Caring Through Massage 7. Healing Arts: Nutrition for the Soul 8. Integrating Complementary and Alternative Practices into Conventional Care 9. Healing Environments: Architecture and Design Conducive to Health The 9 Planetree Practices 1. The Importance of Human Interaction 2. Informing and Empowering Diverse Populations: Consumer Health Libraries and Patient Information 3. Healing Partnerships: The importance of Including Friends and Family 4. Nutrition: The Nurturing Aspect of Food 5. Spirituality: Inner Resources for Healing 6. Human Touch: The Essentials of Communicating Caring Through Massage 7. Healing Arts: Nutrition for the Soul 8. Integrating Complementary and Alternative Practices into Conventional Care 9. Healing Environments: Architecture and Design Conducive to Health Source: Putting Patients First, Susan Frampton, Laura Gilpin, Patrick Charmel

87 Happen to Happen with Access to nurses station: Happen to vs Happen with Source: Putting Patients First, Susan Frampton, Laura Gilpin, Patrick Charmel

88 Thank you, Singapore …

89 2-cent candy

90 TGR TGR

91 Experiences are as distinct from services as services are from goods. Experiences are as distinct from services as services are from goods. Joe Pine & Jim Gilmore, The Experience Economy: Work Is Theatre & Every Business a Stage

92 Thank you, Heather …

93 Forget China, India and the Internet : Economic Growth Is Driven by Women. Forget China, India and the Internet : Economic Growth Is Driven by Women. Headline, Economist, April 15, 2006, Leader, page 14

94 AS LEADERS, WOMEN RULE: TITLE/ Special Report/ BusinessWeekAS LEADERS, WOMEN RULE: New Studies find that female managers outshine their male counterparts in almost every measure TITLE/ Special Report/ BusinessWeek

95 10 UNASSAILABLE REASONS WOMEN RULE Women Women Women make [all] the financial decisions. Women control [all] the wealth. Women Women [substantially] outlive men. Women Women start most of the new businesses. Womens Womens work force participation rates have soared worldwide. Women Women are closing in on same pay for same job. Women Women are penetrating senior ranks rapidly [even if the pace is slow for the corner office per se]. Womens Womens leadership strengths are exceptionally well aligned with new organizational effectiveness imperatives. Women Women are better salespersons than men. Women Women buy [almost] everythingcommercial as well as consumer goods. So what exactly is the point of men?

96 Thank you, Sheik Mohammad (& Jerry) …

97 24%

98 dubai

99 Single greatest act of pure imagination

100 Does your project portfolio have have a dubai? a dubai?

101 You do not merely want to be the best of the best. You want to be considered the only ones who do what you do. You do not merely want to be the best of the best. You want to be considered the only ones who do what you do. Jerry Garcia

102 Thank you, Anthelme Brillat-Savarin and Ludwig Feuerbach…* *You are what you eat Thank you, Anthelme Brillat-Savarin and Ludwig Feuerbach …* *You are what you eat

103 We are the company we keep we keep

104 Measure Strangeness/Portfolio Quality Staff Consultants Vendors Out-sourcing Partners (#, Quality) Innovation Alliance Partners Customers Competitors (who we benchmark against) Strategic Initiatives Product Portfolio (LineEx v. Leap) IS/IT Projects HQ Location Lunch Mates Language Board

105 The Hang Out Axiom: At its core, every (!!!) relationship-partnership decision (employee, vendor, customer, etc) is a strategic decision about: Innovate, Yes or No The Hang Out Axiom: At its core, every (!!!) relationship-partnership decision (employee, vendor, customer, etc) is a strategic decision about: Innovate, Yes or No

106 Normal = o for 800

107 Diverse groups of problem solvers groups of people with diverse tools consistently outperformed groups of the best and the brightest. If I formed two groups, one random (and therefore diverse) and one consisting of the best individual performers, the first group almost always did better. … Diversity trumped ability. Scott Page, The Difference: How the Power of Diversity Creates Better Groups, Firms, Schools, and Societies Diversity Diverse groups of problem solvers groups of people with diverse tools consistently outperformed groups of the best and the brightest. If I formed two groups, one random (and therefore diverse) and one consisting of the best individual performers, the first group almost always did better. … Diversity trumped ability. Scott Page, The Difference: How the Power of Diversity Creates Better Groups, Firms, Schools, and Societies Diversity

108 Thank you, Lou …

109 M = $0

110 IB M : $55B* *Also HP-EDS

111 THE GIANT STALKING BIG OIL: How Schlumberger Is Rewriting the Rules of the Energy Game.: IPM [Integrated Project Management] strays from [Schlumbergers] traditional role as a service provider and moves deeper into areas once dominated by the majors. Source: BusinessWeek cover story, January 2008

112 Big Browns New Bag: UPS Aims to Be the Traffic Manager for Corporate America Headline/BWUPS wants to take over the sweet spot in the endless loop of goods, information and capital that all the packages [it moves] represent. ecompany.com (E.g., UPS Logistics manages the logistics of 4.5M Ford vehicles, from 21 mfg. sites to 6,000 NA dealers)Big Browns New Bag: UPS Aims to Be the Traffic Manager for Corporate America Headline/BWUPS wants to take over the sweet spot in the endless loop of goods, information and capital that all the packages [it moves] represent. ecompany.com (E.g., UPS Logistics manages the logistics of 4.5M Ford vehicles, from 21 mfg. sites to 6,000 NA dealers)

113 GE Enterprise Solutions* GE Enterprise Solutions delivers high-impact, integrated solutions that improve customers productivity and profitability. Enterprise Solutions helps customers compete and win in a changing global environment by combining the power of GEs intelligent technologies with its multi-industry experience and expertise. Enterprise Solutions comprises high-tech, high-growth businesses including Sensing & Inspection Technologies, Security, GE Fanuc Intelligent Platforms, and Digital Energy. The business has 17,000 customer-focused associates in more than 60 countries around the world. *from GE.com

114 The Value-added Ladder/TRANSFORMATION Customer Success/ Gamechanging Solutions Services Goods Raw Materials

115 support function / cost center/ overhead or … support function / cost center/ overhead or …

116 Managing Partner, ISInc. Department Head to … Managing Partner, IS [HR, R&D, etc.] Inc.

117 PSF Answer: PSF

118 Ideal finance staffer: **Full-scale business partner [CFO?] to the/each department [CFO?] to the/each department she serves. she serves. **Not copobsessed instead with value-added value-added **Integration first, stovepipe secondary secondary**MBWA/bigtime **Networker to the rest of Finance

119 Thank you Jim (and Germany ) …

120 Jims Group

121 Jims Mowing Canada Jims Mowing UK Jims Antennas Jims Bookkeeping Jims Building Maintenance Jims Carpet Cleaning Jims Car Cleaning Jims Computer Services Jims Dog Wash Jims Driving School Jims Fencing Jims Floors Jims Painting Jims Paving Jims Pergolas [gazebos] Jims Pool Care Jims Pressure Cleaning Jims Roofing Jims Security Doors Jims Trees Jims Window Cleaning Jims Windscreens Note: Download, free, Jim Penmans book: What Will They Franchise Next? The Story of Jims Group

122 #4 Japan #3 USA #2 China #1 Germany

123 Reason!!! Mittelstand

124 Buy a very large one and just wait. 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

125 Mr. Foster and his McKinsey colleagues collected detailed performance data stretching back 40 years for 1,000 U.S. companies. They found that none of the long- term survivors managed to outperform the market. Worse, the longer companies had been in the database, the worse they did. Financial Times

126 Data drawn from the real world attest to a fact that is beyond our control: Norberto Odebrecht, Education Through Work Data drawn from the real world attest to a fact that is beyond our control: Everything in existence tends to deteriorate. Norberto Odebrecht, Education Through Work

127 The last word: There is no last word.

128 Thank you, John …

129 you only find oil if you drill wells. This is so simple it sounds stupid, but it is amazing how few oil people really understand that you only find oil if you drill wells. You may think youre finding it when youre drawing maps and studying logs, but you have to drill. Source: The Hunters, by John Masters, Canadian O & G wildcatter

130 1/40

131 We made mistakes, of course. Most of them were omissions we didnt think of when we initially wrote the software. We fixed them by doing it over and over, again and again. We do the same today. While our competitors are still sucking their thumbs trying to make the design perfect, were already on prototype version # 5. By the time our rivals are ready with wires and screws, we are on version ready with wires and screws, we are on version # 10. It gets back to planning versus acting: We act from day one; others plan how to plan for months. Bloomberg by Bloomberg # 10. It gets back to planning versus acting: We act from day one; others plan how to plan for months. Bloomberg by Bloomberg

132 Culture of Prototyping Effective prototyping may be the most valuable core competence an innovative organization can hope to have. Culture of Prototyping Effective prototyping may be the most valuable core competence an innovative organization can hope to have. Michael Schrage

133 Experiment fearlessly Tactic #1 Experiment fearlessly Source: BW0821.06, Type A Organization Strategies/ How to Hit a Moving Target Tactic #1

134 Reward PunishReward excellent failures. Punish mediocre successes. Phil Daniels, Sydney exec

135 Thank you, Conrad & Fred …

136 Conrad Hilton, at a gala celebrating his life, was asked, What was the most important lesson youve learned in you long and distinguished career? His immediate answer …

137 Conrad Hilton, at a gala celebrating his life, was asked, What was the most important lesson youve learned in you long and distinguished career? His immediate answer: remember to tuck the shower curtain inside the bathtub

138 Execution is strategy. Fred Malek

139 almost inhuman disinterestedness in … strategy Josiah Bunting on U.S. Grant (from Ulysses S. Grant)

140 DECENTRALIZATION. EXECUTION. ACCOUTABILITY. 6 :15A.M.

141 4/40

142 Thank you, Nassim Nicholas Taleb …

143 The Black Swan 44: Tactical Rules for Survival (and success) in Looney times

144 Black Swan Tactical Rules 1. K.I.S.S. 2. Hammer on the basics. 3. Focus on us, not the competition. 4. Puzzle-solving: How to turn this into an opportunity. into an opportunity. 5. MBWA/X. 6. MBWA/I. 7. MBWA/Vendors. 8. Waaaaay over-communicate!!!!!! (With everyonestart with your (With everyonestart with your banker.) banker.)

145 Black Swan Tactical Rules 9. All work is team work. 10. Transparency. 11. Work the phones. 12. Perception of fairness. 13. Share the pain. 14. Decency!!!!!!! 15. Grace!! 16. Thank you. 17. Control your impatience no temper tantrums. no temper tantrums. 18. Constant attitude checksyou.

146 Black Swan Tactical Rules 19. Dress for success. 20. Avoid burnout/you, the team, the entire organization. the entire organization. 21. Re-emphasize the company values-philosophy. (Now, values-philosophy. (Now, more than ever.) more than ever.) 22. Quality!!!!!! (Now, more than ever.) 23. No corner cutting. (Now, more than ever.) than ever.) 24. Constant reviews/War room. 25. Celebration of small wins.

147 Black Swan Tactical Rules 26. People First/HR is King. 27. Help people with personal financial management. financial management. 28. Be generous to those who are let goe.g. healthcare benefits. let goe.g. healthcare benefits. 29. Dont over-analyze. 30. Dont under-analyze. 31. Cuts all at onceif possible. 32. Cuts explained in great detail. 33. Quantitative calendar managementfocus on to donts. managementfocus on to donts.

148 Black Swan Tactical Rules 34. Increase customer-service training. training. 35. In general, minimize training cuts. 36. Be(very)ware R&D cuts; R&D quick pay SWAT teams. quick pay SWAT teams. 37. Beware such things as sales travel cuts, ad cuts. travel cuts, ad cuts. 38. Across the board = Dumb. 39. Is this a time to over-invest if cash is at hand? (E.g., distressed cash is at hand? (E.g., distressed innovative start-ups? innovative start-ups?

149 Black Swan Tactical Rules 40. Stealth work on the likes of XF communication. XF communication. 41. This could last a long time LT prep is necessary now. LT prep is necessary now. 42. Prepare/Be prepared for more Black Swans. Black Swans. 43. Excellence. (Now, more than ever.) more than ever.) (44. Remember all this in peacetimeChuck Knights peacetimeChuck Knights legacy.) legacy.)

150 Thank you, Eleanor, Jay, Kevin & Mike …

151 Do one thing every day that scares you. Do one thing every day that scares you. Eleanor Roosevelt

152 Im not comfortable unless Im uncomfortable. Im not comfortable unless Im uncomfortable. Jay Chiat

153 Kevin Roberts Credo 1. Ready. Fire! Aim. 2. If it aint broke... Break it! 3. Hire crazies. 4. Ask dumb questions. 5. Pursue failure. 6. Lead, follow... or get out of the way! 7. Spread confusion. 8. Ditch your office. 9. Read odd stuff. Avoid moderation! Kevin Roberts Credo 1. Ready. Fire! Aim. 2. If it aint broke... Break it! 3. Hire crazies. 4. Ask dumb questions. 5. Pursue failure. 6. Lead, follow... or get out of the way! 7. Spread confusion. 8. Ditch your office. 9. Read odd stuff. 10. Avoid moderation!

154 The greatest danger for most of us is not that our aim is too high and we miss it, but that it is too low and we reach it. The greatest danger for most of us is not that our aim is too high and we miss it, but that it is too low and we reach it. Michelangelo


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