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Tom Peters2002 WOMEN RULE! London 02.October.2002.

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Presentation on theme: "Tom Peters2002 WOMEN RULE! London 02.October.2002."— Presentation transcript:

1 Tom Peters2002 WOMEN RULE! London 02.October.2002

2 I. Born to Lead!

3 AS LEADERS, WOMEN RULE: New Studies find that female managers outshine their male counterparts in almost every measure Title, Special Report, Business Week, 11.20.00

4 The New Economy … Shout goodbye to command and control! Shout goodbye to hierarchy! Shout goodbye to knowing ones place!

5 Guys want to put everybody in their hierarchical place. Like, should I have more respect for you, or are you somebody thats south of me? Paul Biondi, Mercer Consultants [from Its Not Business, Its Personal, Ronna Lichtenberg]Ronna Lichtenberg

6 Womens Strengths Match New Economy Imperatives: Link [rather than rank] workers; favor interactive-collaborative leadership style [empowerment beats top-down decision making]; sustain fruitful collaborations; comfortable with sharing information; see redistribution of power as victory, not surrender; favor multi-dimensional feedback; value technical & interpersonal skills, individual & group contributions equally; readily accept ambiguity; honor intuition as well as pure rationality; inherently flexible; appreciate cultural diversity. Source: Judy B. Rosener, Americas Competitive SecretJudy B. Rosener

7 On average, women and men possess a number of different innate skills. And current trends suggest that many sectors of the twenty- first-century economic community are going to need the natural talents of women. Helen Fisher, The First Sex: The Natural Talents of Women and How They Are Changing the World Helen Fisher

8 American women possess leadership abilities that are particularly effective in todays organizations, yet their abilities remain undervalued and underutilized. In the future, what will distinguish one organization and one country from another will be its use of human resources. Today human resource utilization is not only a matter of social justice but a bottom-line issue. Judy Rosener, Americas Competitive Secret

9 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 days events? Who is better at keeping in touch with others? Source: Selling Is a Womans Game: 15 Powerful Reasons Why Women Can Outsell Men, Nicki Joy & Susan Kane-Benson

10 Investors are looking more and more for a relationship with their financial advisers. They want someone they can trust, someone who listens. In my experience, in general, women may be better at these relationship-building skills than are men. Hardwick Simmons, CEO, Prudential Securities

11 Thank you 17 Men: 8 4 Women: 19

12 Ass Of The Year2002 (?) : Maurice Greenberg, A.I.G., on the Companys New (All Male) Leadership Team In a lot of countries of the world, it would be very difficult for a woman to be a good CEO. … I have a responsibility to do the best we can for shareholders. * ** *Source: New York Times/05.05.02 **Wouldnt you love to watch him tell that … face-to- face … to Margaret Thatcher or Carly Fiorina? (I would.)

13 Okay, you think Ive gone tooooo far. How about this: DO ANY OF YOU SUFFER FROM TOO MUCH TALENT?

14 63 of 2,500 top earners in F500 8% Big 5 partners 14% partners at top 250 law firms 43% new med students; 26% med faculty; 7% deans Source: Susan Estrich, Sex and Power

15 Opportunity! U.S. G.B. E.U. Ja. M.Mgt. 41% 29% 18% 6% T.Mgt. 4% 3% 2% <1% Peak Partic. Age 45 22 27 19 % Coll. Stud. 52% 50% 48% 26% Source: Judy Rosener, Americas Competitive Secret

16 Its Girls, Stupid! 1996: 8.4M women, 6.7M men in college (est: 9.2 to 6.9 in 2007); more women than men in high-level math and science courses More girls in student govt., honor societies; girls read more books, outperform boys in artistic and musical ability, study abroad in higher numbers Boys do rule: crime, alcohol, drugs, failure to do homework (4:1) Source: The Atlantic Monthly (May2000)

17 Boys are trained in a way that will make them irrelevant. Phil Slater

18 Read This! Winning the Talent War for Women: Sometimes It Takes a Revolution Douglas McCracken, HBR [11-12/2000]

19 Deloitte was doing a great job of hiring high- performing women; in fact, women often earned higher performance ratings than men in their first years with the firm. Yet the percentage of women decreased with step up the career ladder. … Most women werent leaving to raise families; they had weighed their options in Deloittes male- dominated culture and found them wanting. Many, dissatisfied with a culture they perceived as endemic to professional service firms, switched professions. Douglas McCracken, Winning the Talent War for Women [HBR]

20 The process of assigning plum accounts was largely unexamined. … Male partners made assumptions: I wouldnt put her on that kind of company because its a tough manufacturing environment. That client is difficult to deal with. Travel puts too much pressure on women. Douglas McCracken, Winning the Talent War for Women [HBR]

21 Would Congress [the Boardroom] be a different place if half the members were women? From Sex and Power, Susan Estrich

22 II. Market Opportunity #1.

23 ????????? Home Furnishings … 94% Vacations … 92% (Adventure Travel … 70%/ $55B travel equipment) Houses … 91% D.I.Y. (home projects) … 80% Consumer Electronics … 51% Cars … 60% (90%) All consumer purchases … 83% Bank Account … 89% Health Care … 80%

24 ???? 80%

25 Riding Lawnmowers

26 2/3rds working women/ 50+% working wives > 50% 80% checks 61% bills 53% stock (mutual fund boom) 43% > $500K 95% financial decisions/ 29% single handed

27 1970-1998 Mens median income: +0.6% Womens median income: + 63% Source: Martha Barletta, Marketing to Women

28 $4.8T > Japan 9M/27.5M/$3.6T > Germany

29 Business Purchasing Power Purchasing mgrs. & agents: 51% HR: >>50% Admin officers: >50% Source: Martha Barletta, Marketing to Women

30 Women-owned Bus. U.S. employees > F500 employees worldwide Source: Martha Barletta, Marketing to Women

31 2000-2010 55-64: 48%; 25-54: 2% 65+/2001: M, 14.6M; F, 20.5M Source: Martha Barletta, Marketing to Women

32 New golfers … 37% Basketball … 13.5M 1 in 27 (70) … 1 in 3 (96)

33 1874?

34 1874 … Jock Strap 1977 … Jogbra 1977... 25K 1996 … 42 M

35 Yeow! 1970 … 1% 2002 … 50%

36 OPPORTUNITY NO. 1! * [* No shit!]

37 91% women: ADVERTISERS DONT UNDERSTAND US. (58% ANNOYED.) Source: Greenfield Online for Arnolds Womens Insight Team (Martha Barletta, Marketing to Women)

38 Carol Gilligan/ In a Different Voice Men: Get away from authority, family Women: Connect Men: Self-oriented Women: Other-oriented Men: Rights Women: Responsibilities

39 Men: Individual perspective. Core unit is me. Pride in self-reliance. Women: Group perspective. Core unit is we. Pride in team accomplishment. Source: Martha Barletta, Marketing to Women

40 FemaleThink/ Popcorn Men and women dont think the same way, dont communicate the same way, dont buy for the same reasons. He simply wants the transaction to take place. Shes interested in creating a relationship. Every place women go, they make connections.Popcorn

41 Men seem like loose cannons. Men always move faster through a stores aisles. Men spend less time looking. They usually dont like asking where things are. Youll see a man move impatiently through a store to the section he wants, pick something up, and then, almost abruptly hes ready to buy. For a man, ignoring the price tag is almost a sign of virility. Paco Underhill, Why We Buy* (*Buy this book!) Paco Underhill

42 Shopping: A Guys Nightmare or a Girls Dream Come True? Buy it and be gone vs. Hang out and enjoy the experience Source: The Charleston [WV] Gazette/06.22.2002

43 Antaun Hughes, Capital High School, on M-F shopping habits: Women enjoy going through the actual process of everything, while guys like to get straight to the point. Source: The Charleston [WV] Gazette

44 How Many Gigs You Got, Man? Hard to believe … Different criteria Every research study weve done indicates that women really care about the relationship with their vendor. Robin Sternbergh/ IBM

45 Women's View of Male Salespeople Technically knowledgeable; assertive; get to the point; pushy; condescending; insensitive to womens needs. Source: Judith Tingley, How to Sell to the Opposite Sex (Martha Barletta, Marketing to Women)

46 Read This: Barbara & Allan Peases Why Men Dont Listen & Women Cant Read Maps

47 It is obvious to a woman when another woman is upset, while a man generally has to physically witness tears or a temper tantrum or be slapped in the face before he even has a clue that anything is going on. Like most female mammals, women are equipped with far more finely tuned sensory skills than men. Barbara & Allan Pease, Why Men Dont Listen & Women Cant Read Maps

48 Resting State: 30%, 90%: A woman knows her childrens friends, hopes, dreams, romances, secret fears, what they are thinking, how they are feeling. Men are vaguely aware of some short people also living in the house. Barbara & Allan Pease, Why Men Dont Listen & Women Cant Read Maps

49 As a hunter, a man needed vision that would allow him to zero in on targets in the distance … whereas a woman needed eyes to allow a wide arc of vision so that she could monitor any predators sneaking up on the nest. This is why modern men can find their way effortlessly to a distant pub, but can never find things in fridges, cupboards or drawers. Barbara & Allan Pease, Why Men Dont Listen & Women Cant Read Maps

50 Female hearing advantage contributes significantly to what is called womens intuition and is one of the reasons why a woman can read between the lines of what people say. Men, however, shouldnt despair. They are excellent at imitating animal sounds. Barbara & Allan Pease, Why Men Dont Listen & Women Cant Read Maps

51 Senses Vision: Men, focused; Women, peripheral. Hearing: Womens discomfort level I/2 mens. Smell: Women >> Men. Touch: Most sensitive man < Least sensitive woman. Source: Martha Barletta, Marketing to Women

52 Sensitivity to differences: Twice as many card stacks. More contextual, holistic. People powered: Age 3 days, baby girls 2X eye contact. Source: Martha Barletta, Marketing to Women

53 Barbara & Allan Pease, Why Men Dont Listen & Women Cant Read Maps: Women love to talk. Men talk silently to themselves. Women think aloud. Women talk, men feel nagged. Women multitask. Women are indirect. Men are direct. Women talk emotively, men are literal. Men listen like statues. Boys like things, girls like people. Boys compete, girls cooperate. Men hate to be wrong. Men hide their emotions.

54 When a woman is upset, she talks emotionally to her friends; but an upset man rebuilds a motor or fixes a leaking tap. Barbara & Allan Pease, Why Men Dont Listen & Women Cant Read Maps

55 We Really … Dont Get It! Review of Unfaithful: … the latest entry in the category of male directors clueless fantasies concerning what women fantasize about in their nonexistent free time. Source: Julie Iovine, NYT (05.19.2002)

56 Men & Women on Thelma & Louise. MEN: Sundance Kid; women who get angry, swear, go to bars, leave their mate. WOMEN: women controlled by the men in their lives, who would rather be dead than oppressed. Source: Judy Rosener, Americas Competitive Secret

57 [The Hollywood scripts that men write tend to be direct and linear, while womens compositions have many conflicts, many climaxes, and many endings. Helen Fisher, The First Sex: The Natural Talents of Women and How They Are Changing the World]

58 Women speak and hear a language of connection and intimacy, and men speak and hear a language of status and independence. Men communicate to obtain information, establish their status, and show independence. Women communicate to create relationships, encourage interaction, and exchange feelings. Judy Rosener, Americas Competitive Secret

59 [I only really understand myself, what Im really thinking and feeling, when Ive talked it over with my circle of female friends. When days go by without that connection, I feel like a radio playing in an empty room. Anna Quindlen]

60 Editorial/Men: Tables, rankings.* Editorial/Women: Narratives that cohere.* TP/Furniture: Tech Specs vs. Soul. ** *Redwood (UK) **High Point furniture mart (04.2002)

61 Initiate Purchase Men: Study facts & features. Women: Ask lots of people for input. Source: Martha Barletta, Marketing to Women

62 Storytelling: Men start with the headline. Women start with the context. Source: Martha Barletta, Marketing to Women

63 Tomboy Tools. E.g.: smaller, lighter in weight. Tupperware party model.

64 Read This Book … EVEolution: The Eight Truths of Marketing to Women Faith Popcorn & Lys Marigold Faith Popcorn

65 EVEolution: Truth No. 1 Connecting Your Female Consumers to Each Other Connects Them to Your Brand

66 The Connection Proclivity in women starts early. When asked, How was school today? a girl usually tells her mother every detail of what happened, while a boy might grunt, Fine. EVEolution

67 What If … What if ExxonMobil or Shell dipped into their credit card database to help commuting women interview and make a choice of car pool partners? What if American Express made a concerted effort to connect up female empty-nesters through on-line and off-line programs, geared to help women re-enter the workforce with todays skills? EVEolution

68 The New New Jiffy Lube In the male mold, Jiffy Lube was going all out to deliver quick, efficient service. But, in the female mold, women were being turned off by the lets get it fixed fast, no conversation required experience. New JL: Control over her environment. Comfort in the service setting. Trust that her car is being serviced properly. Respect for her intelligence and ability. EVEolution

69 Lowes … Gets it. 1989: 13%/lumber shop … 2002: >50%

70 Yes!: Crest Spinoff Targets Womencover story, Ad Age/06.03.02 Crest Rejuvenating Effects. Chicks in charge team. $50M launch. Packaging. Taste. Features.

71 Mattel Sees Untapped Market for Blocks: Little GirlsHeadline, WSJ/04.06.02 Last year more than 90% of Lego sets purchased were for boys. Mattel says Ellowith interconnecting plastic squares, balls, triangles, squiggles, flowers and sticks, in pastel colors and with rounded cornerswill go beyond Legos linear play patterns.

72 Women dont buy brands. They join them. EVEolution

73 Not ! Year of the Woman

74 Enterprise Reinvention! Recruiting Hiring/Rewarding/Promoting Structure Processes Measurement Strategy Culture Vision Leadership THE BRAND ITSELF!

75 Honey, are you sure you have the kind of money it takes to be looking at a car like this?

76 STATEMENT OF PHILOSOPHY: I am a businessperson. An analyst. A pragmatist. The enormous social good of increased womens power is clear to me; but it is not my bailiwick. My game is haranguing business leaders about my fact-based conviction that womens increasing power – leadership skills and purchasing power – is the strongest and most dynamic force at work in the American economy today. Dare I say it as a long-time Palo Alto resident … THIS IS EVEN BIGGER THAN THE INTERNET! Tom Peters

77 If we are single, they say we couldnt catch a man. If we are married, they say we are neglecting him. If we are divorced, they say we couldnt keep him. If we are widowed, they say we killed him. Kathleen Brown, on the joys of female political candidacy

78 27 March 2000: email to TP from Shelley Rae Norbeck I make 1/3 rd more money than my husband does. I have as much financial pull in the relationship as he does. Id say this is also true of most of my women friends. Someone should wake up, smell the coffee and kiss our asses long enough to sell us something! We have money to spend and nobody wants it!

79 Psssst! Wanna see my porn collection?

80 Ass Of The Year2002 : Maurice Greenberg, A.I.G., on the Companys New (All Male) Leadership Team In a lot of countries of the world, it would be very difficult for a woman to be a good CEO. … I have a responsibility to do the best we can for shareholders. * ** *Source: New York Times/05.05.02 **Wouldnt you love to watch him tell that … face-to- face … to Margaret Thatcher or Carly Fiorina? (I would.)

81 Ad from Furniture /Today (04.01): MEET WITH THE EXPERTS!: How Retailings Most Successful Stay that Way Presenting Experts: M = 16 ; F = ?? (94% = 272)

82 0

83 Please … just one couch or chair where my feet hit the ground! Owner, 5 furniture stores, UK

84 Stupid!

85 Stupid: Amazing, now that I think about it. A bunch of guys --developers, architects, contractors, engineers, bankers--sitting around designing shopping centers. And the end users will be overwhelmingly women!

86 Instructions: 1. Purchase ticket to symphony … 7:30 p.m. show. 2. Drink three large bottles of water between 3 p.m. and 7 p.m. 3. X-dress. 4. Wait in queue at Ladies at Intermission. 5. Realize what total wretches you are. 6. Seize a microphone and apologize publicly to every woman in the hall.

87 Customer is King: 4,440 Customer is Queen: 29 Source: Steve Farber/Google search/04.2002

88 F.Y.I.

89 Women Beat Men at Art of Investing Source: Miami Herald, reporting on a study by Profs. Terrance Odean and Brad Barber, UC Davis (Cause: Guys are in and out of stocks more often; women choose carefully and hold on for the long term)

90 Purchasing Patterns Women: Harder to convince; more loyal once convinced. Men: Snap decision; fickle. Source: Martha Barletta, Marketing to Women

91 Investment Club Returns Women-only clubs 1997 … 17.9% Mixed … 17.3% Men-only … 15.6% Source: National Assoc. Investors

92 Value Line: Top State* Investment Clubs 2000 8 … All male 19 … Coed 22 … All FEMALE * VT & Maine not included; D.C. included

93 JBQ: Stop Treating Women Investors Like Idiots! Why all this focus on women and our lack of investment guts? A far greater problem, it seems to me, is trigger-happy speculation, mostly by men. The kind of guys whose family savings went south with the dot-coms. Imagine a list of their money mistakes: Shoot from the hip. Overtrade their accounts. Believe theyre smarter than the market. Think with their mouse rather than their brain. Praise their own genius when stocks go up. Hide their mistakes from their wives. Source: Newsweek 01.08.01

94 Notes to the CEO --Women are not a niche; so get this out of the Specialty Markets group. --The competition is starting to catch on. (E.g.: Nike, Nokia, Wachovia, Ford, Harley-Davidson, Jiffy Lube, Charles Schwab, Citigroup, Aetna.) --If you dip your toes in the water, what makes you think youll get splashy results? --Bust through the walls of the corporate silos. --Once you get her, dont let her slip away. --Women ARE the long run! Source: Martha Barletta, Marketing to Women

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