Tom Peters
Seminar2004
NEW SLIDES
10.22.04
Kevin Roberts*:
Lovemarks!
*CEO/Saatchi & Saatchi
“In Dove Ads, Normal Is the New
Beautiful” —Headline,
Advertising Age/09.27.04
10.21.04
"I long to accomplish a great and noble task, but it is my chief duty
to accomplish humble tasks as though they were great and
noble. The world is moved along not only by the mighty shoves of
its heroes but also by the aggregate of the tiny pushes of each honest worker.” —Helen Keller
My Story.
Sarah: “ Papa, what do you do?”
Papa: “I’m ‘overhead.’ ”
Sarah: “ Daddy, what do you do?”
Papa: “I’m a ‘bureaucrat.’ ”
Sarah: “ Daddy, what do you do?”
Papa: “I manage a ‘cost center.’ ”
“Typically in a mortgage company or financial services company, ‘risk
management’ is an overhead, not a revenue center. We’ve become more
than that. We pay for ourselves, and we
actually make money for the company.” —Frank
Eichorn, Director of Credit Risk Data Management Group, Wells Fargo Home Mortgage (Source: sas.com)
Rainmaker-in-Chief
“[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/06.14.04
Six Market Profiles
1. Adventures for Sale2. The Market for Togetherness, Friendship and Love3. The Market for Care4. The Who-Am-I Market5. The Market for Peace of Mind6. The Market for Convictions
Rolf Jensen/The Dream Society: How the Coming Shift from Information to Imagination Will Transform Your Business
’70s: Cost (BCG’s “cost curves”)
’80s: TQM-CI (Japan)
’90s: Service
’00s: Solutions/Experiences’10s: Dream Fulfillment
Market Power = Story Power = Dream Power
FLASH:
Innovation is
easy!
Why Do I love Freaks?
(1) Because when Anything Interesting happens … it was a freak who did it. (Period.) (2) Freaks are fun. (Freaks are also a pain.) (Freaks are never boring.) (3) We need freaks. Especially in freaky times. (Hint: These are freaky times, for you & me & the CIA & the Army & Avon.) (4) A critical mass of freaks-in-our-midst automatically make us-who-are-not-so-freaky at least somewhat more freaky. (Which is a Good Thing in freaky times—see immediately above.) (5) Freaks are the only (ONLY) ones who succeed—as in, make it into the history books. (6) Freaks keep us from falling into ruts. (If we listen to them.) (We seldom listen to them.) (Which is why most of us—and our organizations—are in ruts. Make that chasms.)
Six Market Profiles
1. Adventures for Sale/IBM2. The Market for Togetherness, Friendship and Love/IBM3. The Market for Care/IBM4. The Who-Am-I Market/IBM5. The Market for Peace of Mind/IBM6. The Market for Convictions/IBM
Rolf Jensen/The Dream Society: How the Coming Shift from Information to Imagination Will Transform Your Business
A Coherent Story: Context-Solution-BedrockContext1: Intense Pressures (China/Tech/Competition)
Context2: Painful/Pitiful Adjustment (Slow, Incremental, Mergers)
Solution1: New Organization (Technology, Web+ Revolution, Virtual-“BestSourcing,”“PSF” “nugget”)
Solution2: No Option: Value-added Strategy (Services- Solutions-Experiences-DreamFulfillment “Ladder”)
Solution3: “Aesthetic” “VA” Capstone (Design-Brands)
Solution4: New Markets (Women, ThirdAge)
Bedrock1: Innovation (New Work, Speed, Weird, Revolution)
Bedrock2: Talent (Best, Creative, Entrepreneurial, Schools)
Bedrock3: Leadership (Passion, Bravado, Energy, Speed)
10.18A.04
“Americans are not embarrassed by ambition.
There is no particular enthusiasm here about
making it look like you are not trying.” —Larry Summers (explaining why
Americans, among other things, win 75% of Nobels)
10.18.04
“Europe’s Top 100 Growth Companies”/ BusinessWeek/25October2004
Britain ………….. 31 Germany ………. 24 Italy …………….. 9 France …………. 6 Netherlands …... 5 Sweden ………... 1* Denmark ………. 0
*New Wave Group (#59)
10.17.04
“We all agree your theory is crazy. The question, which divides us, is whether it is crazy enough.”
—Physicist Niels Bohr, to Wolfgang Pauli
New Economy Biz Degree Programs
MBA (Master of Business Administration)
MFA (Master of Fine Arts)
MMM1 (Master of Metaphysical Management)
MMM2/MM (Master of Metabolic Management, or Master of Madness)
MGLF (Master of Great Leaps Forward)
MTD (Master of Talent Development)
G/GWGTDw/oC (Guy/Gal Who Gets Things Done without Certificate)
DE (Doctor of Enthusiasm)
-Formulaic intelligence (health record clerks, 63%/36K;
secretaries & typists, 30%/1.3M; bookkeepers, 13%/247K)
Manual dexterity (sewing machine ops, 50%/347K; lathe ops, 49%/30K; butchers, 23%/67K)
Muscle power (timber cutters, 32%/25K; farm workers, 20%/182K)
Source: “Where the Jobs Are”/NYT/05.13.2004/data 1994-2004
+People skills & emotional intelligence (financial service sales, 78%/248K; RNs, 28%/512K; lawyers, 24%/182K)
Imagination & creativity (architects, 44%/60K; designers, 43%/230K; photographers, 38%/50K)
Analytic reasoning (legal assts, 66%/159K; electronic engs, 28%/147K)
Source: “Where the Jobs Are”/NYT/05.13.2004/data 1994-2004
10.16.04
“UPS used to be a trucking
company with technology. Now it’s a technology
company with trucks.” —Forbes
Measure “Strangeness”/Portfolio Quality
StaffConsultants
BoardVendors
Out-sourcing Partners (#, Quality)
Innovation Alliance PartnersCustomers
Competitors (who we “benchmark” against)
Strategic Initiatives Product Portfolio (LineEx v. Leap)
IS/ITHQ LocationLunch Mates
Language
10.15A.04
The Power Is the Story
10.15.04
Market Power = Story Power
Brand = Story
Story > Brand
10.15.04
“Business people don’t need to ‘understand
designers better.’ Businesspeople need to be designers.” —Roger Martin/Dean/Rotman
Management School/Univ of Toronto
“We have to move up the value chain and focus increased efforts on becoming a knowledge-based, entrepreneurial economy if we are to prosper in the medium to long
term.” —Tony Dromgoole, Chief Executive, Irish Management Institute
“In China’s Countryside, Farmers Are Cultivating
Agribusiness Explosion as Subsidies Cut U.S. Export Dominance” —Headline/p1/WSJ
Europe/10.15.04
“GM Europe to Slash Costs in Blow to German Workers:
Loss-ridden Automaker Facing Asian Onslaught, to
Cut up to 12,000 Jobs”
—Headline/p1/WSJ/10.15.04
“The essence of American presidential leadership,
and the secret of presidential success, is
storytelling.” —Evan Cornog, The Power
and the Story: How the Crafted Presidential Narrative Has Determined Political Success from George Washington to
George W. Bush
“The global economy is anti-balance. For as much as Accenture and Google say they value an environment that
allows workers balance, they’re increasingly competing against companies that don’t.
You’re competing against workers with a lot more to gain than you, who will work harder
for less money to get the job done. This is the dark side of the ‘happy workaholic’ Someday,
all of us will have to become workaholics, happy or not, just to get by.” —Fast Company/10.04
(“Balance Is Bunk,” by Keith Hammonds)
10.14.04
’70s: Cost (BCG’s “cost curves”)
’80s: TQM-CI (Japan)
’90s: Service’00s: Solutions/Experiences’10s: Dream Fulfillment
Six Market Profiles
1. Adventures for Sale/IBM2. The Market for Togetherness, Friendship and Love3. The Market for Care4. The Who-Am-I Market/IBM5. The Market for Peace of Mind/IBM-UPS6. The Market for Convictions/IBM
Rolf Jensen/The Dream Society: How the Coming Shift from Information to Imagination Will Transform Your Business
10.13A.04
Calendars do not lie. (Period.)
07.04/TP In Nagano …
Revenue: $10B
FTE: 1*
*Maybe
Sarah: “ Daddy, what do you do?”
Papa: “I’m ‘overhead.’ ”
60,000/26
600/200
168/18,500/51,000
“Let China sleep, for when
she awakes she will shake the world.”
“Let China sleep, for when she awakes she will shake the world.” —Napoleon
+49%/profits
+52%/revenue
Source: WSJ/10.13.2004/“Infosys 2nd-Period Profit Rose Amid Demand for Outsourcing”
A man approached JP Morgan, held up an envelope, and said, “Sir, in my hand I hold a guaranteed formula for success, which I will gladly sell you for $25,000.”
“Sir,” JP Morgan replied, “I do not know what is in the envelope, however if you show me, and I like it, I
give you my word as a gentleman that I will pay you what you ask.”
The man agreed to the terms, and handed over the envelope. JP Morgan opened it, and extracted a single
sheet of paper. He gave it one look, a mere glance, then handed the piece of paper back to the gent.
And paid him the agreed-upon $25,000.
1. Every morning, write a list of the things that need to be done that day.
2. Do them.
Source: Hugh MacLeod/tompeters.com/NPR
Rogaine.
Help Keep Your Hair.
Help Keep Your Confidence.
Source: Ad on the side of a bus/Dublin/10.04
Product: Rogaine.
Solution: Help Keep Your Hair.
Dream-come-true: Help Keep Your Confidence.
Source: Ad on the side of a bus/Dublin/10.04
10.13.04
“Don’t get left on the shelf: Innovation, not advertising, is the solution to FMCG [Fast-Moving Consumer Goods] companies’ problems with
retailer power and own-label brands” —Headline/FT/10.12.04
“Don’t get left on the shelf: Innovation, not advertising, is the solution to FMCG [Fast-Moving
Consumer Goods] companies’ problems with retailer power
and own-label brands” —Headline/FT/10.12.04
“I’m worried our business model might run out of steam in two or three years. We make lots of incremental product
improvements, get them to launch as quickly as we can and then fire a big cannon full of marketing dollars at them. But each time the lifetime of that product gets shorter and the amount of dollars we spend gets higher. Eventually there will be no dollars
left.” —CEO/FMCG co./FT/10.12
“Judging by the profit warnings from a bunch of FMCG giants [Colgate, Unilever, Coke, Cadbury], that time is already upon us. [The FMCGs] have a solution: spend more on advertising. Good
luck to them. We tell our clients something different: It’s too late. Rather than frittering margins on ever bigger ad budgets,
companies must start to innovate.” —Tim Thorne, CEO, Edengene/corporate growth consultants/FT/10.12
“Passionate amateurs, empowered by technology and linked to one another, are reshaping business,
politics, science and culture.” —Charles Leadbeater/Fast
Company/10.2004
“An estimated 60 to 90 percent of doctor visits involve stress-related
complaints.” —Newsweek/09.27.2004
10.12.04
Hardball: Are You Playing to Play or Playing to Win? by George Stalk & Rob Lachenauer/HBS Press
“The winners in business have always played hardball.” “Unleash massive and overwhelming force.” “Exploit
anomalies.” “Threaten your competitor’s profit sanctuaries.” “Entice your competitor into retreat.”
Approximately 640 Index entries: Customer/s (service,
retention, loyalty), 4. People (employees, motivation, morale, worker/s), 0.
Innovation (product development, research & development, new products), 0.
10.11.04
Three for the Ages
GETTING TO YES … Roger Fisher, William Ury, Bruce Patton
LEARNED OPTIMISM … Martin Seligman
CRUCIAL CONFRONTATIONS … Kerry Patterson, Joseph Grenny, Ron
McMillan, Al Switzler
“Success or Failure”? Try Instead “Optimism or Failure”!
From Martin Seligman’s Learned Optimism: “I believe the traditional wisdom is incomplete. A composer can have all the talent of a Mozart and a passionate desire to succeed, but if he believes he cannot compose music, he will come to nothing. He
will not try hard enough. He will give up too soon when the elusive right melody takes too long to materialize. Success requires persistence, the ability to not give up in the face of
failure. I believe that … OPTIMISTIC EXPLANATORY STYLE … is the key to persistence.
“The optimistic-explanatory-style theory of success says that in order to choose people for success in a challenging job, you
need to select for three characteristics: (1) Aptitude. (2) Motivation. (3) Optimism. All three determine success.”
(Note: Seligman’s extensive work with Met Life salespeople, among others, proved out the above—in spades.)
Pessimist: Good things … “I’m worthless, but got lucky on this one.”
Bad things … “I’m a bozo who deserved my sorry fate.”
Optimist: Good things … “I deserved that; I’m the cat’s meow.” Bad things … “I’m the cat’s meow, but the cat had
an unlucky day; tomorrow will be better for sure.”
“Reuters Plans To Triple Jobs at Site In India” —Headline/
New York Times/ World Business/10.08.04/10% of total workforce in Bangalore by 2006
One company’s answer:
CXO*
*Chief eXperience Officer
BUILT TO … DETERIORATE!
“When it comes to investing, I am old school. Buy a good stock, stick it in the drawer and when you check back years later the stock should be worth more. There’s only one problem. When I checked the drawer
recently it was full of clunkers, including Lucent, down 94 percent from its 1999 high. Maybe once upon a time buy and hold was a viable strategy.
Today, it no longer makes sense.”—Charles Stein/ “Investment Strategies Must Shift with Realities”/Boston Globe/10.10.04
A sample of Stein’s “Blue Chip-turned-clunker” examples: Fannie Mae (featured in Collins’ Good to Great). Coke. (“Clunker,” make that
“Stinker.”) Merck. (The mightiest fall—stock down 63 percent since 2000; tumble preceded Vioxx) Uh … Microsoft. (“Microsoft’s stock price is no
higher today than it was in 1998.”)
“It is not clear there is such a thing as a ‘Blue Chip,’” Shawn Kravetz, president of Boston-based hedge fund Esplanade Capital, told Stein. “Kravetz’s point is a serious one,” Stein continues. “Greatness is not
permanent. … This process of creative destruction isn’t new. But with the world moving ever faster, and with competition on steroids, the quaint
notion of buying and holding is hopelessly out of step.”
DESIGN IS INEVITABLE! DESIGN IS THE DIFFERENCE!
DESIGN RULES!
10.10.04
“WHAT’S THE
DREAM?”
Design Rules!Excerpts from Virginia Postrel’s The
Substance of Style: How the Rise of Aesthetic Value Is
Remaking Commerce, Culture and Consciousness
10.10.2004
“If modernist design ideology promised efficiency, rationality
and truth, today’s diverse aesthetics offers a different
trifecta: freedom, beauty and pleasure.” —Virginia Postrel, The Substance of Style:
How the Rise of Aesthetic Value Is Remaking Commerce, Culture and Consciousness
“Having spent a century or more focused on other goals—solving manufacturing problems, lowering
costs, making goods and services widely available, increasing convenience, saving energy—we are
increasingly engaged in making our world special. More people in more aspects of life are drawing
pleasure and meaning from the way their persons, places and things look and feel. Whenever we have the
chance, we’re adding sensory, emotional appeal to ordinary function.” — Virginia Postrel, The Substance of Style: How
the Rise of Aesthetic Value Is Remaking Commerce, Culture and Consciousness
“As soon as the Taliban fell, Afghan men lined up at barber shops to have their beards shaved off. Women
painted their nails with once-forbidden polish. Formerly clandestine beauty salons opened in prominent
locations. Men traded postcards of beautiful Indian movie stars…. Even burka merchants diversified their wares, adding colors like brown, peach and green to the blue and off-white dictated by the Taliban’s whip-wielding virtue police. Freed to travel to city markets,
village women demanded better fabric, finer embroidery and more variety in their traditional
garments.” —Virginia Postrel, The Substance of Style: How the Rise of Aesthetic Value Is Remaking Commerce, Culture and Consciousness
“With its carefully conceived mix of colors and textures, aromas and music, Starbucks is more
indicative of our era than the iMac. It is to the Age of Aesthetics what McDonald’s was to the age of convenience or Ford was to the age of mass
production—the touchstone success story, the exemplar of all that is good and bad about the
aesthetic imperative. … ‘Every Starbucks store is carefully designed to enhance the quality of everything the customers see, touch, hear, smell or taste,’ writes CEO Howard Schultz.” —Virginia Postrel, The Substance of Style:
How the Rise of Aesthetic Value Is Remaking Commerce, Culture and Consciousness
“Elaborating on the techniques of one-of-a-kind boutique hotels, Starwood Hotels &
Resorts [W, Sheraton, Westin] has adopted a strategy of
‘Winning by design.’ ” —Virginia Postrel, The Substance of Style: How the Rise of Aesthetic Value Is Remaking
Commerce, Culture and Consciousness
“The lowliest household tool has become an object of color, texture, personality, whimsy, even elegance. Dozens, probably
hundreds, of distinctively designed toilet-brush sets are available—functional, flamboyant, modern, mahogany. For
about five bucks, you can buy Rubbermaid’s basic plastic bowl brush with caddy, which comes in seven different colors, to
hide the bristles and keep the drips off the floor. For $8 you can take home a Michael Graves brush from Target, with a rounded
blue handle and translucent white container. At $14 you can have an OXO brush, sleek and modern in a hard, shiny white plastic holder that opens as smoothly as the bay door on a science-fiction spaceship. For $32, you can order Philippe
Starck’s Excalibur brush, whose hilt-like handle creates a lid when sheathed in its caddy. At $55 there’s Stefano
Giovannoni’s Merdolino brush for Alessi … Cross the $100 barrier, and you can find all sorts …” —Virginia Postrel, The
Substance of Style: How the Rise of Aesthetic Value Is Remaking Commerce, Culture and Consciousness
The SE17: Origins of Sustainable
Entrepreneurship
Tom Peters/10.10.2004
SE17/Origins of Sustainable Entrepreneurship
1. Genetically disposed to Innovations that upset apple carts (3M, Apple, FedEx, Virgin, BMW, Sony, Nike, Schwab,
Starbucks, Oracle, Sun, Fox, Stanford University, MIT)2. Perpetually determined to outdo oneself, even to the
detriment of today’s $$$ winners (Apple, Cirque du Soleil, Microsoft, Nokia, FedEx)
3. Love the Great Leap/Enjoy the Hunt (Apple, Oracle, Intel, Nokia, Sony)
4. Culture of Outspoken-ness (Intel, Microsoft, FedEx, CitiGroup, PepsiCo)
5. Encourage Vigorous Dissent/Genetically “Noisy” (Intel, Apple, Microsoft)
SE17/Origins of Sustainable Entrepreneurship
6. “Culturally” as well as organizationally Decentralized (GE, J & J, Omnicom)7. Multi-entrepreneurship/Many Independent-minded Stars (GE, Time Warner)8. Keep decentralizing—tireless in pursuit of wiping out Centralizing Tendencies (J & J, Virgin)9. Scour the world for Ingenious Alliance Partners—especially exciting startups (Pfizer)10. Don’t overdo “pursuit of synergy” (GE, J & J, Time Warner)11. Find and Encourage and Promote Strong-willed/ Independent people (GE, PepsiCo)12. Ferret out Talent … anywhere and everywhere/ “No limits” approach to retaining top talent (Nike, Virgin, GE, PepsiCo)
SE17/Origins of Sustainable Entrepreneurship
13. Unmistakable Results & Accountability focus from the get-go to the grave (GE, New York Yankees, PepsiCo)14. Up or Out (GE, McKinsey, big consultancies and law firms and ad agencies and movie studios in general)15. Competitive to a fault! (GE, New York Yankees, News Corp/Fox, PepsiCo)16. “Bi-polar” Top Team, with “Unglued” Innovator #1, powerful Control Freak #2 (Oracle, Virgin, old Raychem) (God help you when #2 is missing: Enron)17. Masters of Loose-Tight/Hard-nosed about a very few Core Values, Open-minded about everything else (Virgin)
10.07.04
“My life is my
message.”Gandhi
“Dreams are ideas with
passion.” —Phil Harkins & Keith
Hollihan, Everybody Wins (the RE/MAX story)
26
09.30.04
1Y/2N: Commerce Bank2 Pizzas: JB
Plastic Bulldozer: MD
“A man without a smiling face
must not open a shop.” —Chinese Proverb*
*Courtesy Tom Morris, The Art of Achievement
“The only reason they come to se me is that I know that life is great—and they
know I know it.” —Clark Gable*
*Courtesy Tom Morris, The Art of Achievement
“Nothing is so contagious as enthusiasm.”
—Samuel Taylor Coleridge*
*Courtesy Tom Morris, The Art of Achievement
“Five Clichés of Women (as Portrayed by Advertisers) …
Perfect MumAlpha FemaleFashionista
Beauty BunnyGreat Granny”
Source: The Independent /09.29.04 (on forthcoming “First London ‘Think Pink’ Conference”)
“Unilever brand Dove’s use of six generously proportioned ‘real women’ to promote its skin-firming preparations must qualify as one of the most talked-about marketing decisions taken
this summer. It was also one of the most successful: Since the campaign broke, sales of the firming lotion have gone up 700 percent in
the UK, 300 percent in Germany and 220 percent in the Netherlands.” —Financial
Times/09.29.04
“Motown Is Stealing Hollywood’s Best Tricks …
With Oprah’s 276-car giveaway all over the news last week, GM got just what it
wanted: a blockbuster debut [for its ‘unheralded Pontiac G6’].”
Source: Newsweek/09.27.04 (Cost: $7 million … “A car that gets off to a slow start has little hope of ever losing the stigma of distressed merchandise.”)
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)
09.05.04
“The era of ‘left brain’ dominance—and the
Information Age it engendered—is giving way to a new world in which ‘right brain’ qualities—
inventiveness, empathy, meaning—will govern.” —Dan Pink, A
Whole New Mind
“The past few decades have belonged to a certain kind of person with a certain kind of mind—computer
programmers who could crank code, lawyers who could craft contracts, MBAs who could crunch
numbers. But the keys to the kingdom are changing hands. The future belongs to a very different kind of
person with a very different kind of mind—creators and empathizers, pattern recognizers and meaning makers.
These people—artists, inventors, designers, storytellers, caregivers, consolers, big picture thinkers—will now reap society’s richest rewards and share its
greatest joys.” —Dan Pink, A Whole New Mind
L-Directed Thinking: sequential, literal, functional, textual,
analyticto
R-Directed Thinking: simultaneous, metaphorical,
aesthetic, contextual, syntheticSource: Dan Pink/A Whole New Mind
“Left-brain style thinking used to be the driver, and right-brain style thinking the passenger. Now R-Directed Thinking is
suddenly grabbing the wheel, stepping on the gas, and determining where we’re
going and how we’re going to get there. L-Directed aptitudes—the kind measured by the SAT and employed by CPAs—are still
necessary. But they’re no longer sufficient.” —Dan Pink, A Whole New Mind
The Big Three Drivers of Change
Abundance
Asia
Automation
Source: Dan Pink, A Whole New Mind
“But abundance has also produced an ironic result: The very triumph of L-Directed Thinking has lessened its significance. The prosperity it has
unleashed has placed a premium on things that appeal to less rational,
more R-Directed sensibilities—beauty, spirituality, emotion.” —Dan Pink,
A Whole New Mind
India
350,000 engineering grads per year
>50% F500 outsource software work to India
GE: 48% of software developed in India (Sign in GE India office: “Trespassers will be recruited”)
Source: Dan Pink, A Whole New Mind
Software’s Enormous Inroads
Docs
Lawyers
Accountants
Source: Dan Pink, A Whole New Mind
Agriculture Age (farmers)
Industrial Age (factory workers)
Information Age (knowledge workers)
Conceptual Age (creators and empathizers)
Source: Dan Pink, A Whole New Mind
Bob Lutz: “It’s more right brain. I see us being in the art
business. Art, entertainment and mobile sculpture, which, coincidentally, also happens to provide transportation.”
Source: NYT 10.19.01
“The MFA is the new
MBA.” —Dan Pink, A Whole New
Mind
“What does this mean for you and me? How can we prepare for the conceptual age? On one
level, the answer is straightforward. In a world tossed by Abundance, Asia and Automation, in a which L-Directed Thinking remains necessary
but no longer sufficient, we must become proficient in R-Directed Thinking and master aptitudes that are ‘high concept’ and ‘high touch.’ But on another level, that answer is
inadequate. What exactly are we supposed to do?” —Dan Pink, A Whole New Mind
Design.Story.
Symphony.Empathy.
Play.Source: Dan Pink, A Whole New Mind
Not just function, but also … DESIGN.Not just argument, but also … STORY.Not just focus, but also … SYMPHONY.
Not just logic, but also … EMPATHY.Not just seriousness, but also … PLAY.
Source: Dan Pink, A Whole New Mind
“Thousands of years of history suggest that the schoolhouse as we know it is an absurd way to rear our young; it’s contrary to everything we know about what it is to be a human being. For example, we know that
doing and talking are what most successful people are very good at—that’s where they truly show their stuff. We know that reading and writing are important, but
also that these are things that only a small and specialized group of people is primarily good at doing.
And yet we persist in a form of schooling that measures our children’s ‘achievement’ largely in the latter terms, not the former … and sometimes through written tests
alone.” —Deborah Meier, Foreword to Dennis Littky’s The Big Picture
The Real Goals of Education/Dennis Littky/The Big Picture
*Be lifelong learners*Be passionate
*Be ready to take risks*Be able to problem solve and think critically
*Be able to look at things differently*Be able to work independently and with others
*Be creative*Care and want to give back to their community
*Persevere*Have integrity and self-respect
*Have moral courage*Be able to use the world around them well
*Speak well, write well, read well, and work wel with numbers*AND TRULY ENJOY THEIR LIFE AND WORK
“What we want to see is the child in pursuit of knowledge, and not
knowledge in pursuit of the child.” —George Bernard Shaw
“Teaching is listening.
Learning is talking.” —Message painted on a Met
advisor’s truck by his students (from Dennis Littky, The Big Picture)
“We have plenty of people who can teach what they know, but
very few who can teach their own capacity to
learn.” —Joseph Hart, educator
“From the media, we hear these great tearjerker stories of kids who succeeded despite the odds. But all of our kids are facing the odds of an education system that is
all wrong. The odds are against them because the system works against them instead of with them. … I see it every day: kids who people have dismissed as
‘dumb in math’ or ‘uninterested in science’ or ‘nonreaders’ doing incredible things in these exact
same areas because they were (finally) allowed to start with something they were already interested in. A 9th-
grade kid who ‘hates science’ sees a movie about freezing people, then decides to read a college biology text on cryogenics, and then gives a presentation on it
that blows your socks off.” —Dennis Littky, The Big Picture
“The leader must have infectious optimism. … The final test of a leader is the feeling you
have when you leave his presence after a conference.
Have you a feeling of uplift and confidence?” —Field Marshall Bernard
Montgomery
“Make it fun to work at your agency. …
Encourage exuberance. Get rid
of sad dogs who spread gloom.” —David Ogilvy
The “Intangibles Economy” Reaches Botswana
“Mma Ramotswe had a detective agency in Africa, at the foot of Kgale Hill. These were its assets: a tiny
white van, two desks, two chairs, a telephone, and an old typewriter. Then there was a teapot, in which Mma
Ramotswe—the only lady private detective in Botswana—brewed redbush tea. And three mugs—one for
herself, one for her secretary, and one for the client. What else does a detective agency reallly need? Detective agencies rely on human intuition and
intelligence, both of which Mma Ramotswe had in abundance. No inventory would ever include those, of course.” —Alexander McCall Smith, The No. 1 Ladies’ Detective Agency
Support for Free Trade/>$100,000
1999: 57 %
2004: 28%Source: Dan Pink, A Whole New Mind
The Perils of Imitation
“While the HealthTech team agreed they could outdo the competition’s brochures, they failed to
recognize that something had changed while they sat around the conference table picking
apart the competition. Their mission had shifted from the legitimate business goal of creating a powerful brochure designed to drive sales, to
the egocentric exercise of beating what the competition had produced. In effect, the focus shifted from the battlefield to bragging rights.”
—Mark Stevens, Your Marketing Sucks.
Best Web Site?
buildabear.com
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”)
--http://www.buildabear.com/buildaparty
Bottom line: No promotion to senior levels of public or private enterprise should ever again be granted to anyone who does not present a CV saturated by a clear and compelling demonstration of sustained commitment to Radical Change. Do we wish for “good strategists”? Why not! But the heart of the matter goes far beyond any plan, no matter how brilliant. The heart of the matter is Heart & Will ... a record of upsetting apple carts, dislodging “establishments,” and fundamentally altering deep-rooted “cultures” to embrace change of the most primal sort. I titled my most recent book Re-imagine! Business Excellence in a Disruptive Age. “Excellence” in a “disruptive age” is not excellence amidst placid waters. The notion of excellence itself changes ... dramatically. We need our public and private Churchills, leaders who can re-imagine, who can call forth wellsprings of daring and guts and spirit and spunk, from one and all, to topple the way things may have been for many generations—and who inspire us to venture forth into today’s and tomorrow’s whitewaters with insouciance and bravado and determination.
At the heart of Boyd’s thinking is an idea labeled “OODA Loops.” OODA stands for the Observe-Orient-Decide-Act cycle. In short, the player with the quickest OODA Loops disorients the enemy to an extreme degree. In the world of aerial combat, for example, the confused adversary subjected to an opponent with short OODA cycles often flies into the ground rather than becoming the victim of machine gun fire or a missile. Boyd is careful to distinguish between raw speed and maneuverability. In aerial dogfighting in Korea (Boyd’s incubator), Soviet MiGs flown by Chinese pilots were faster and could climb higher, but our F-86 had “faster transients”—it could change direction more quickly; hence our technically inferior craft (by conventional design standards) achieved a 10:1 kill ratio.
Doug Hall, P&G vet and long-time proprietor of Eureka Ranch, is my favorite marketing guru. One reason is his ... Declaration of Dramatic Difference. Well, he doesn’t call it that—I do. In Jump Start Your Business Brain, Hall gives us his Three Laws of Marketing Physics. The Law of Dramatic Difference is number three. It goes this way. Prospective customers evaluate a new product. Then they’re asked (1) if they’d buy it and (2) if they see it as “unique.” The firm’s execs in turn evaluate and weigh the prospective customers’ reactions. Without fail, the execs deciding to launch or not bet close to one-hundred of their marbles on the intent-to-buy question, and virtually ignore the uniqueness issue. The problem, or should I say “THE PROBLEM”: In actual fact the intent-to-buy response is a poor predictor of subsequent real-world success (or failure), while the “uniqueness” assessment almost perfectly predicts the true response to the product.
I was described in public as a “radical” by a senior Japanese official, during a Summer 2004 conference in Nagano. (Actually, which I guess even amplifies the label, he was a Japanese-American, who spent much of his career in Silicon Valley.) I retorted sharply that I was no such animal! Alas, he’d been taking detailed notes during my presentation. “But didn’t you say you could readily imagine a $50 billion corporation, perhaps in pharmaceuticals, which had only two full-time employees—you and one other. And ‘outsourced’ everything else?” Then he added that “one of the two would, of course, be a woman.”
Embracing the “Dream Society”: Even “culture change,” daunting as it is, is not a fully adequate term. Requisite is a particular type of culture change that flies in the face of most traditional training and development practices of, say, the last hundred or more years. “Most managers,” says Danish marketing guru Jesper Kunde in Unique Now ... or Never, “have no idea how to add value to a market in the metaphysical world. But that is what the market will cry out for in the future. There is no lack of ‘physical’ products to choose between.” What about a new degree, an MMM (Master of Metaphysical Management) to supplant the MBA?
The Boomer-Geezer Opportunity
1. The numbers of people involved are ... enormous.2. The wealth of these people is ... staggering. (The 50+ group in the U.S. controls 70 percent, or $7 trillion, of our wealth.)3. This is the first “aging” group that ... refuses to “act their age”—a very cool thing for goods and services producers. (“Sixty Is the New Thirty”—AARP magazine cover in 2003.)4. The Boomer-Geezer cohort mostly wants to buy ... experiences. 5. One more time: VERY FEW FIRMS ARE AGRESSIVELY ADDRESSING THIS ISSUE-OPPORTUNITY. (“Addressing” = Realigning “culture” to Embrace the Boomers-Geezers.)
A researcher at Nomura Securities’ Nomura Research Institute said we’ve been through the Age of Agriculture and the Industrial Age. We’re in the Age of Information Intensification, but on the horizon is the next (last?) stage: the Age of Creation Intensification. I’d agree. And ... the point ... an Age of Creation Intensification is as far away as one can imagine from “Show up. Shut up. Or starve.” In an Age of Creation Intensification the boss’s mantra (is he a boss?) is more like: “Help! Please help! Please commit your heart and soul and imagination to inventing clever and wonderful services-solutions-experiences-dreams come true. Join with me in inventing an Adventure, a Quest worth your time and my time and our clients’ time and money.” (“Boss-as-beggar-supplicant-before-the-alter-of-Talent” rather than “boss-as-drill-sergeant” comes to mind as an appropriate image.) Do I paint an unrealistic picture? In a word ... no! Technology and globalization in all of their manifestations put organizational models and career models and leadership models up for grabs. (Media guru Marshall McLuhan once said, “If it works, it’s obsolete.” Soooo true of organizational arrangements, circa 2004.) The current winners—UPS, IBM, and Omnicom in business “services,” for instance—are forging completely new paths to an unknown and unknowable future. They will only progress if there is True Partnership among all parties to the enterprise—workers (Talent!!), Best Sourcing alliances, Cool & Pushy Clients, and the remaining minimalist superstructure. And such a True Partnership demands as a price of entry (a minimal reason for Seriously Cool Talent to “sign up”): Unstinting Integrity, Total Transparency, Passion-on-our-sleeves, and Spirit to burn (Steve Jobs: “Let’s make a dent in the universe”). Once more, I remind: I’m not suggesting the above because I think it’s “cool” or “right” or “good.” I’m “suggesting” (demanding!) such an approach because there’s not much likelihood that you can do otherwise and survive in a truly global, technology-rich, ambiguity-laden “age of creation intensification.”
HOW SWEET IT IS!
Cubicle slavery is on its last legs.Commodity strategies are by and large bankrupt.
Passion and commitment matter most.Creativity wins.
The individual reigns.We’re on our own.
(Ben Franklin would chuckle with delight!)
(Henry Ford would be horrified!)
Do you understand business mantra #1 of
the ’00s: DON’T TRY TO COMPETE WITH
WAL*MART ON PRICE OR CHINA ON COST?
Pentium III 800MHz: $42,893.00/#Hermes Scarf: $1,964.29
Saving Private Ryan on DVD: $874.75Mercedes-Benz: $18.98
Hot-rolled steel: $0.19
Source: Fortune (3.20.00)
You = Your Calendar (Period.)
Distinct …
or … Extinct
Schools Circa 2010 …
(1) Creativity(2) Arts orientation
(3) Independence of spirit and action (a Brand You-
entrepreneurial combo)
Why Do I love Freaks?
(1) Because when Anything Interesting happens … it was a freak who did it. (Period.) (2) Freaks are fun. (Freaks are also a pain.) (Freaks are never boring.) (3) We need freaks. Especially in freaky times. (Hint: These are freaky times, for you & me & the CIA & the Army & Avon.) (4) A critical mass of freaks-in-our-midst automatically make us-who-are-not-so-freaky at least somewhat more freaky. (Which is a Good Thing in freaky times—see immediately above.) (5) Freaks are the only (ONLY) ones who succeed—as in, make it into the history books. (6) Freaks keep us from falling into ruts. (If we listen to them.) (We seldom listen to them.) (Which is why most of us—and our organizations—are in ruts. Make that chasms.)
Places where passion is the centerpiece of the “culture”
(restaurants, finance departments, platoons, movie crews) perform a helluva lot better than places that are
“professional”—that is, calm & cool & collected.
“She made us close our eyes and hear the singers she was passionate about: Roberta
Flack and Aretha Franklin. ‘Listen to the joy in their voices,’ urged Diane. ‘It’s not the words
or the music. They sing with such great passion, such heart and soul. You can feel
how the singers love what they’re doing. It’s not just a job to them. If you want to excel, you need to be passionate! Otherwise, why waste
your time?’” —fromer player, on Coach Diane Geppi-Aikens
Boomers & Geezers
1. The numbers of people involved are ... enormous.2. The wealth of these people is ... staggering. (The 50+ group in the U.S. controls 70 percent, or $7 trillion, of our wealth.)3. This is the first “aging” group that ... refuses to “act their age”—a very cool thing for goods and services producers. (“Sixty Is the New Thirty”—AARP magazine cover in 2003.)4. The Boomer-Geezer cohort mostly wants to buy ... experiences. 5. One more time: VERY FEW FIRMS ARE AGRESSIVELY ADDRESSING THIS ISSUE-OPPORTUNITY. (“Addressing” = Re-aligning “culture” to Embrace the Boomers-Geezers.)
Big/Mostly Missed Market OPPORTUNITIES1. Women buy everything. (Everything = A really, really lot.)2. Boomers & Geezers have all the money. (Trillions upon more trillions.)3. The Hispanic market is growing soooooo fast and is influencing styles soooooo fundamentally, it’d make your head swim … if you were paying the slightest bit of attention. (Hispanic-origin population in the U.S. grew by 39 percent from 1990 to 2000—while the population as a whole increased by 9 percent.)4. “Outside the beltway” concerns with All Things Green are growing exponentially. Green products. Green buildings. Environmental sensibilities and stewardship as a primary measure of enterprise citizenship.5. Medicine, the practice thereof, many miracle cures and the stupendous promise of biotech not withstanding, is broken. Dealing with problems before they arise is becoming “the new cool”— at least it is if you’re a patient. Hence: Wellness (products & services) is a burgeoning market. No, make that “stupendous.”6. DAMN FEW ARE PAYING ATTENTION TO ANY OF THE ABOVE—OR AT LEAST NO MORE THAN LIP SERVICE.7. To “take advantage” requires far, far more than “initiatives”—it demands fundamental strategic & cultural enterprise re-alignment. (E.g.: If you want to glom on to the “women’s market opportunity,” more or less put lots & lots of women in charge—see above.)8. So … use the new micro-segmentation tools to your heart’s desire—but don’t forget the basics.9. REPEAT AFTER ME: WOMEN BUY EVERYTHING!10. REPEAT AFTER ME: BOOMERS AND GEEZERS HAVE ALL THE MONEY!11. REPEAT AFTER ME: THERE ARE A LOT MORE HISPANICS AROUND THAN THERE WERE YESTERDAY.12. REPEAT AFTER ME: DO I HATE MONEY? AM I ASHAMED OF PROFIT? AM I AN ENEMY OF CAPITALISM? IF “NO” TO THESE QUESTIONS, THEN WHY AM I SO STUPID?
Women & Leadership
1. The world is changing. (Duh.)2. New sorts of leadership-managerial skills are needed to deal with a New World. (Duh.)3. Men and women are different. (Duh.)4. Very different. (It’s a fact.)5. The leadership skills that women tend to bring to the party are an excellent match with the new needs of enterprise. (Cool.) 6. Enterprise rules & mores are designed by men, for men. (Not surprisingly, men play well with toys they designed.) 7. Women are still woefully underrepresented in leadership ranks—e.g. 8 of the Fortune500 chiefs are women. 8. While I don’t seek a formal measure of numeric equality, I do scream: WE ARE MISSING ONE HELLUVAN OPPORTUNITY HERE! (Duh.)
Healthcare’s 1-2 Punch
1. Hospital “quality control,” at least in the U.S.A., is a bad, bad joke. Depending on whose stats you believe, hospitals kill 100,000 or so of us a year—and wound many times that number. Finally, “they” are “getting around to” dealing with the issue. Well, thanks. And what is it we’ve been buying for our Trillion or so bucks a year? The fix is eminently do-able … which makes the condition even more intolerable. (“Disgrace” is far too kind a label for the “condition.” Who’s to blame? Just about everybody, starting with the docs who consider oversight from anyone other than fellow clan members to be unacceptable.)
2. The “system”—training, docs, insurance incentives, “culture,” “patients” themselves—is hopelessly-mindlessly-insanely (as I see it) skewed toward fixing things (e.g. Me) that are broken—not preventing the problem in the first place and providing the Maintenance Tools necessary for a healthy lifestyle. Sure, bio-medicine will soon allow us to understand and deal with individual genetic pre-dispositions. (And hooray!) But take it from this 61-year old, decades of physical and psychological self-abuse can literally be reversed in relatively short order by an encompassing approach to life that can only be described as a “Passion for Wellness (and Well-being).” Patients—like me—are catching on in record numbers; but “the system” is highly resistant. (Again, the doctors are among the biggest sinners—no surprise, following years of acculturation as the “man-with-the-white-coat-will-now-miraculously-dispense-fix it-pills-for-you-the-unwashed.” (Come to think of it, maybe I’ll start wearing a White Coat to my doctor’s office—after all, I am the Professional-in-Charge when it comes to my Body & Soul. Right?)
Hunch!?I have a sense that there’s an interesting nexus among several of the ideas
I’ve just discussed … namely Women-Boomers-Wellness-Intangibles. Each one shoves the Fundamental Economic Value
Proposition toward the “softer side”: From facts- & figures-obsessed males to relationship-oriented Women. From goods-driven youth to “experiences”-craving Boomers. From quick-fix & pill-popping “healthcare” to a holistically inclined “Wellness Revolution.” From “goods” and “services” to Design- &
Creativity-rich Intangibles-Experiences-Dream Fulfillment. This so-called “softer side”—as IBM’s Palmisano and Harley’s 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.
Each of the Four Key Ideas (Women-Boomers-Wellness-Intangibles) feeds off and complements the other three. Dare I use the word “synergy”? Perhaps.
(Or: Of course!) I can imagine an enterprise defining its raison d’etre in terms of these Four Complementary Key Ideas. (HINT: DAMN FEW DO TODAY.)
“Reward excellent failures … punish mediocre successes”: (1) World gyrating madly. (2) “Stop the world, I want to get off”—NOT AN OPTION. (3) Better get going. (4) Better try something as Bold & Brave &
Daring as the Bold Times cry out for—if survival is your/my game. (5) When you try Bold & Brave & Daring Stuff—bruises aplenty are your almost guaranteed lot. (6) But expending Precious Time (What else is there?) on timid excursions (“mediocre successes”—at best!) is a Certain Recipe for Economic Marginalization.
(7) So … GO FOR IT! (8) And … cherish those “excellent failures” that are increasingly sure to be your lot as you claw toward survival and “new excellence” in
these wondrous-madcap-maddening times.
Nexus/Confluence
Self-serviceOwnership Society
Brand You1t1
“The transfer of power from West to East is gathering pace
and soon will dramatically change the context for dealing with international challenges—
as well as the challenges themselves.” —James Hoge, editor, Foreign
Affairs, “A Global Power Shift in the Making: Is the United States Ready?”
“AT&T Said to Be Takeover Target” —headline,
Newsweek, 07.26.04, on KKR’s possible bid
HealthGrades/Denver: 195,000 hospital deaths per year in the U.S., 2000-2002 = 390 full jumbos/747s in the drink per
year. Comments: “This should give you pause when you go to the
hospital.”—Dr. Kenneth Kizer, National Quality Forum. “There is little
evidence that patient safety has improved in the last five years.”—Dr.
Samantha CollierSource: Boston Globe/07.27.04
“Some grocery stores have better technology than our hospitals and
clinics.” —Tommy Thompson, HHS Secretary
Source: Special Report on technology in healthcare, U.S. News & World Report (07.04)
“For today’s emancipated,
educated, high-expectation women,
the mid-forties to mid-fifties is the Age of
Mastery.” —Gail Sheehy (in More)
“All you need to know about mental health can be summed up in only two words …
DON’T BELITTLE.”
—Norm Guitry
Direct Selling’s Potent Promise
-- “This industry is global and is growing exponentially.”—Roger Barnett, investment banker
specializing in direct selling
-- DSA: 175,000 Americans sign up per week (475,000 world wide)
-- All industries (wellness, telecomms, financial services … Crayola’s Big Yellow Box)
-- Global: Avon, 70%; Tupperware, 75%; China & India huge
-- MLM’s share of direct selling: 56% in 1990 to 82% in 2003
TP’s July “Journey to Direct”
-- infoUSA Client Conference/DBM-- Chairman/DNC-- Wired on Arnold/Howard/moveon.org-- BzzAgent.com and TPC--Guerilla PR Wired: Waging a Successful Publicity Campaign Online, Offline, and Everywhere in Between/Michael Levine (TP starts blogging)-- My Dinner With … party planning consultants-- 15,000 WFGers
Sakie Fukushima, MD/Japan/KornFerry
and … first woman Director … Sony!
“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
“BABY-BOOMER, COME HOME: Gap Hopes a New
Chain Will Bring Back Women Who Once Bought Its Jeans”
—headline/BusinessWeek/0704
Now You’ve Heard It All …
“We want our branches to be a place where people come as a
destination.” —Amy Brady, on the BofA
effort to learn from Starbucks and Gap (“The Fun Factor”/The Boston Globe/08.30.04
The Old 1-2 Punch …
“[Typical sales training courses] teach you to ‘deal with’ ‘objections’ and such. They ought to teach you how to keep your lips zipped and listen. You know, Tom, the old one about why ‘God gave us one mouth and two ears.’ I’ve been in this business
for twenty-five years, and I guarantee you ‘great sales skills’ are ninety-nine percent about respect and empathy and listening.”
—Sales Exec, F, conversation on a plane trip
Did We Say “Talent Matters”?
“The top software developers are more productive than
average software developers not by a factor of 10X or 100X, or
even 1,000X,
but 10,000X.” —Nathan Myhrvold,
former Chief Scientist, Microsoft
Growth Projections: 2003-2010
Narrowcast media … 13.5%Mass media … 3.5%
Source: Sanford C. Bernstein & Co
Mass
Narrowcast
1t1: DBM/CRM1t1: Web
1t1:Direct Mail1t1: Telemarketing
1t1: Door-to-door Reps1t1:MLM
440 new consumer mags in 2003/10% of 6,200 total mags are general
interest, down from 30% in 1980 —Samir Husni/U. Miss/BW0704
“It’s not size that counts most, but the ability to deliver someone elusive to
advertisers.” —Mary Berner/CEO/Fairchild Publications/2003: W Jewelry to 75,000 of W’s 469,000
subscribers who spend >$60,000 a year on jewelry
“Money that used to go for 30-second network spots now pays for closed-circuit sports programming piped into Hispanic bars and for ads in Upscale, a custom-
published magazine distributed to black barbershops. … ‘We are a big marketer—
we are not a mass marketer,’ says Lawrence Light, McDonald’s chief
marketing officer.” —BW/0704
“Monolithic blocks of eyeballs are gone. In their place is a
perpetually shifting mosaic of audience micro-segments that
forces marketers to play an endless game of hide-and-seek.” —Eric Schmitt/Forrester Research/
BW(0704)
“If you go back 40 years, people wanted to be identified as normal. So they wanted the most popular car and
the most popular color. From the consumer point of view, we’ve had a
change from ‘I want to be normal’ to ‘I want to be special’.” —Lawrence Light, Global
Chief Marketing Officer, McDonald’s (BW/07.04)
“If we look over just the last half-dozen years, our media mix has shifted in the U.S. from two-thirds on prime-time network TV to two-thirds not on prime-time
network.” —Lawrence Light, Global Chief Marketing Officer, McDonald’s (BW/07.04)
“The old days of advertising vs. promotion vs. merchandising vs. display vs. events—that’s a mindset that has to disappear. It’s all promotion. The purpose is to elevate the brand perception in the customer’s
mind. A T-shirt is a medium, a package is a print ad, it’s not just a container; we think
about a store design as outdoor advertising.” —Lawrence Light, Global Chief Marketing
Officer, McDonald’s (BW/07.04)
Q/BW : Do you think the mass market is a thing of the past?
A/Lawrence Light, McD’s Global CMO: The answer is yes. … What has changed is technology has facilitated our ability to reach people on a more customized, more personalized basis. That’s a revolution.
Old New
Consumers Couch potatoes, passively Empowered media users control receive whatever the and shape the content, thanks networks broadcast to TiVo, iPod and the Internet Aspirations To keep up with the crowd To stand out from the crowd TV Choice Three networks plus a Hundreds of channels, plus PBS station, maybe video on demand
Magazines Age of the big glossies: Age of the special interest: Time, Life, Look and A magazine for every hobby Newsweek and affinity group
Ads Everyone hums the Talking to a group of one: Alka-Seltzer jingle Ads go ever narrower
Brands Rise of the big, ubiquitous Niche brands, product extensions brands, from Coca-Cola and mass customization mean to Tide lots of new variations
Source: BusinessWeek/07.12
??????????????
“Never sacrifice a friendship for a good column.”
v.
“Never sacrifice a good column for a friendship.”
“You get an educated workforce, remarkable infrastructure, a lot of
government support. These [Southeast Asian] governments have made life sciences a top priority—and
they have a great venture capital community there.” —Glenn Rice, VP Pharmaceutical
Discovery and Development, SRI International (On the rapid migration of drug discovery from the U.S. at a 20% to 40% cost saving Rice adds that 40%
to 60% of U.S. postdocs are from China and Taiwan) From: Stanford Business /August 2004
“Welch was to a large degree a growth by acquisition man. ‘In the late ’90s,’ Immelt says,
‘We became business traders, not business growers. Today organic growth is absolutely
the biggest task of everyone of our companies.
If we don’t hit our organic growth targets, people are not going to get
paid.’ … Immelt has staked GE’s future growth on the force that guided the company at it’s
birth and for much of its history: breathtaking, mind-blowing, world-rattling technological
innovation.” —“GE Sees the Light”/Business 2.0/July 2004
“I don’t believe in
economies of scale. You don’t get better by being bigger. You get worse.” —Dick Kovacevich/
Wells Fargo/Forbes08.2004 (ROA: Wells, 1.7%; Citi, 1.5%; BofA, 1.3%; J.P. Morgan Chase, 0.9%)
Total Enterprise Revision: “Not optional”
Total “Value proposition” revision: “Not optional”
“All-the-way” IS/IT solutions: “Not optional”
Full-scale globalization: “Not optional”
Work done where it best makes sense: “Not optional”
Re-imagine General Electric
“Welch was to a large degree a growth by acquisition man. ‘In the late ’90s,’ Immelt says, ‘we became
business traders, not business growers. Today organic growth is absolutely the biggest task of everyone of
our companies. If we don’t hit our organic growth
targets, people are not going to get paid.’ … Immelt has staked GE’s future growth on the force
that guided the company at it’s birth and for much of its history: breathtaking, mind-
blowing, world-rattling technological innovation.” —“GE Sees the Light”/Business 2.0/July 2004
America’s Rule #1: Don’t even think about
competing with Wal*Mart on price or
China on cost!
“I don’t believe in
economies of scale. You don’t get better by being bigger. You get worse.” —Dick Kovacevich/
Wells Fargo/Forbes08.2004 (ROA: Wells, 1.7%; Citi, 1.5%; BofA, 1.3%; J.P. Morgan Chase, 0.9%)
Market Share, Anyone?
240 industries: Market-share
leader is ROA leader 29% of
the time
Source: Donald V. Potter, Wall Street Journal
“Beware of the tyranny of making
Small Changes to Small Things. Rather, make Big Changes to Big
Things.” —Roger Enrico, former Chairman, PepsiCo
Not “out sourcing”Not “off shoring”
Not “near shoring”Not “in sourcing”
but …
“Best Sourcing”
Job One: Getting (WAY) beyond the
“Cost center,” “Overhead” mentality
“The sun is setting on the Information Society—even before we have fully adjusted to its demands as individuals and as
companies. We have lived as hunters and as farmers, we have worked in factories and now we live in an information-based
society whose icon is the computer. We stand facing the fifth kind of society: the Dream Society. … The Dream Society is emerging this very instant—the shape of the future is visible today. Right
now is the time for decisions—before the major portion of consumer purchases are made for emotional, nonmaterialistic
reasons. Future products will have to appeal to our hearts, not to our heads. Now is the time to add emotional value to products and services.” —Rolf Jensen/The Dream Society:How the Coming Shift from
Information to Imagination Will Transform Your Business
46 Pages: Thomas Paine, Common Sense, and the Turning Point to Independence
Ideas matter!“Viral marketing” rules!
“End runs” are requisite!Keep it simple, stupid!
It takes a renegade!
“Researchers asked subjects to count the number of times ballplayers with white shirts pitched a ball back and forth in a video. Most subjects were so thoroughly
engaged in watching white shirts that they failed to notice a black gorilla that wandered across the scene and paused in the middle to beat his chest. They had their noses buried in their work that they didn’t even
see the gorilla.
“What gorillas are moving through your field of vision while you are so hard at work that you fail to see them?
Will some of these 800-pound gorillas ultimately
disrupt your game?” —Yoram Wind and Colin Crook, The Power of Impossible Thinking: If You Can Think Impossible
Thoughts, You Can Do Impossible Things
Searching for Antidotes: “What’s most important?” “Everything!”
FOCUS [2 things/120 days][2 = 90%]
CLARITY [10 words, max]
INTENSITY ENTHUSIASMHUMOR [a game]
OPTIMISM [If it kills you]
VISIBILITYREPITITION [3/day]
EXTREME [1/week]
“Some people look for things that went wrong
and try to fix them. I look for things that
went right, and try to build off them.” —Bob Stone
(Mr REGO)
The Case for IPMs (Itinerant Potential Machines)
“It is almost impossible to take action to prevent something that hasn’t
occurred previously” —Judge Richard Posner, “The 9/11 Report: A Dissent”/New York
Times
Only One Big Issue …
“People think the president has to be the main organizer. No, the president is the
main dis-organizer. Everybody ‘manages’ quite well; whenever anything goes wrong,
they take immediate action to make sure nothing’ll go wrong again. The problem is,
nothing new will ever happen, either.”* —Harry Quadracci, Quad/Graphics
*Beware ICD/Inexorable Centralist Drift—TP
Everything You Need to Know about “Strategy”
1. Do you have awesome Talent … everywhere? (“We are the Yankees of home improvement here in Omaha.”) Do you push that Talent to pursue Audacious Quests?2. Is your Talent Pool loaded with wonderfully peculiar people who others wouldcall “problems”? And what about your Extended Community of customers, vendors et al?3. Is your Board of Directors as cool as your product offerings … and does it have50 percent (or at least one-third) Women Members?4. Long-term, it’s a “Top-line World”: Is creating a “culture” that cherishes above all things Innovation and Entrepreneurship your primary aim? Remember: Innovation … not Imitation!5. Are the Ultimate Rewards heaped upon those who exhibit an unswerving “Bias for Action,” to quote the co-authors of In Search of Excellence? Are your O.O.D.A. loops shorter than the next guy’s? 6. Do you routinely use hot, aspirational words-terms like “Excellence” and B.H.A.G. (Big Hairy Audacious Goal, per Jim Collins) and “Let’s make a dent in the Universe” (the Word according to Steve Jobs)? Is “Reward excellent failures, punish mediocre successes” your de facto or de jure motto?7. Do you subscribe to Jerry Garcia’s dictum: “We do not merely want to be the best of the best, we want to be the only ones who do what we do”?8. Do you elaborate on and enhance Jerry G’s dictum by adding, “We subscribe to ‘Best Sourcing’—and only want to associate with the ‘best of the best’.” 9. Do you embrace the new technologies with child-like enthusiasm and a revolutionary’s zeal?10. Do you “serve” and “satisfy” customers … or “go berserk” attempting to provide every customer with an “awesome experience” that does nothing less than transform the way she or he sees the world?11. Do you understand … to your very marrow … that the two biggest under-served markets are Women and Boomers-Geezers? And that to “take advantage” of these two Monster “Trends” (FACTS OF LIFE) requires fundamental re-alignment of the enterprise?12. Are your leaders accessible? Do they wear their passion on their sleeves? Does integrity ooze out of every pore of the enterprise? Is “We care” your implicit motto?13. Do you understand business mantra #1 of the ’00s: DON’T TRY TO COMPETEWITH WAL*MART ON PRICE OR CHINA ON COST? (And if you get this last idea, then see the 12 above!)
Ten Good Reasons to “Get Up in the Morning”
1. Empower one and all to vigorously seek WOW! in their work/projects. (Or else.) Foster the “Brand You Spirit” and the “Entrepreneurial Urge” at every turn. (Or else.) 2. Blow up “education” as we know it today! Re-tool education to emphasize the arts, creativity, entrepreneurial behavior. (Or else.)3. Seek out the bold, the strange, the misfits, the dreamers—and welcome their presence in our midst.4. Drag enthusiasm, passion, Technicolor and bold commitment out of the closet! Make Passion your Passion! (Hint: Passion makes the world go ‘round.)5. Be a champion for: Women Roar! Women Rule!6. Underscore the importance of/stupendous opportunities associated with the “cool new markets”: Women, Boomers and Geezers, Hispanics, Greenies, Wellness.7. Dramatically re-orient healthcare from after-the-fact “fixes” to before-the-fact attention to prevention-Wellness. (And “kindly suggest” that the “acute-care” “industry” give some passing thought to Quality.)8. Ensure that the historically neglected “intangibles” are the prime basis for individual and enterprise success.9. Support Globalization as the best—if indeed messy—path to maximum human freedom, security and welfare.10. Swear by the motto: “Reward excellent failures; punish mediocre successes.”
07.19.04
Colorado Springs: McDonald’s call center for Drive-
through (incl. electronic photo of customer)
Source: NYT/07.18.04
MinuteClinic: “Next to the Express Checkout,
Express Medical Care”
Source: Headline/NYT/07.18.04 (on MinuteClinic at Targets and Cub Foods stores in Minneapolis
Business 2.0 outsources section
of August 2004 issue!
Source: USA Today/07.19.2004
07.18.04
New York-Presbyterian: 7-year, $500M consulting
(generic) and equipment contract with GE Medical
Systems
Source: NYT/07.18.2004
07.16.04
Kodak …. FujiGM …. FordFord …. GM
IBM …. Siemens, FujitsuSears … Kmart
Xerox …. Kodak, IBM
Whoops: “Great speech, Tom, but you missed the most important
point.”
“Big Brown’s New Bag: UPS Aims to Be the Traffic Manager
for Corporate America” —Headline/BW/07.19.2004
07.14.04
Two Weeks in July 2004: Not Your Father’s
World!
“China’s size does not merely enable low-cost manufacturing; it forces it. Increasingly, it is what
Chinese businesses and consumers choose for themselves that determines how the American
economy operates.” —Ted Fishman/“The Chinese Century”/
The New York Times Magazine /07.04.04
“One Monday this spring, a forty-three-year-old salesclerk at the Home Depot in Plano, Texas,
scribbled some updates onto an old resume and took it to his local copy shop. To his education
and work history—a bachelor’s degree in industrial engineering and technology, service in
the U.S. Marine Corps—he added a recent moonlighting job as a handyman and a new
‘career objective.’ Ten minutes later, in southern India, a middle-age Hindu man in a cavernous
workplace began to type the Home Depot clerk’s words.” —The New Yorker /07.05.2004
“The Ultimate Luxury Item Is Now
Made in China” —Headline/p1/The New York Times/
07.13.2004/Topic: Luxury Yachts made in Zhongshan
“Vaunted German Engineers Face
Competition From China” —Headline, p1/WSJ/07.15.2004
“JET BLUE has a secret weapon: a virtual
reservations center. … Jet Blue’s 600 agents all work
from home. …”
Source: Ad for Avaya/BW/07.19.2004
07.12.04
Re-imagine!*1.Empower one and all to vigorously seek WOW! in their work/projects. (Or else.)2. Encourage the entrepreneurial (Brand You) spirit in people of all ages; lead the parade of those aiming to “Free the Cubicle Slaves.”3. Urge education “bureaucrats” (From kindergarten to MBA schools) to emphasize the arts, creativity, entrepreneurial behavior.4. Seek out the bold, the strange, the misfits, the dreamers—and welcome their presence in our midst.5. Drag enthusiasm, passion, Technicolor and bold commitment out of the closet.6. Be a champion for: Women Roar! Women Rule!7. Underscore the importance of/stupendous opportunities associated with the “cool new markets”: women, boomers and geezers, Hispanics, greenies, wellness.8. Dramatically re-orient healthcare from after-the-fact “fixes” to before-the-fact attention to prevention-wellness.9. Nurture the “lesser” “intangibles”—such as design/experiences and innovation—as the prime basis for individual and enterprise success.10. Support Globalization as the best/only—if indeed messy—path to maximum human freedom, security and welfare.11. Fight bureaucratic rigidities, centralization and mindless gigantism to the death.12. Swear by the motto: “Reward excellent failures; punish mediocre successes.”13. Foster a “sense of grace and care” in enterprises and organization-client transactions of all flavors.
*Why I get out of bed in the morning/TP/07.12.2004
All You Need to Know About “Strategy”
1. Do you have awesome Talent … everywhere? (“We are the Yankees of home improvement here in Omaha.”) Do you push that Talent to pursue audacious Quests?2. Is your Talent Pool loaded with wonderfully peculiar people who others wouldcall “problems”?3. Is your Board of Directors as cool as your product offerings … and does it have50% (or at least one-third) Women Members?4. Are Innovation and Entrepreneurship your primary aims?5. Do you routinely use hot, aspirational words-terms like “Excellence” and B.H.A.G. (Big Hairy Audacious Goal, per Jim Collins) and “Let’s make a dent in the Universe” (the Word according to Steve Jobs)?6. Do you subscribe to Jerry Garcia’s dictum: “We do not merely want to be the best of the best, we want to be the only ones who do what we do”?7. Do you embrace the new technologies with child-like enthusiasm/revolutionary zeal?8. Do you “serve” customers … or go berserk attempting to provide every customer with an “awesome experience” that automatically turns her/him into a “raving fan”?9. Are your leaders accessible? Do they wear their passion on their sleeves? Is yours a “hot place to hang out” and “learn cool stuff”?10. Does integrity ooze out of every pore of the enterprise? Is “We care” your implicit motto?11. Do you understand business mantra #1 of the ’00s: DON’T TRY TO COMPETE WITH WAL*MART ON PRICE OR CHINA ON COST? (And if you get this last idea, then see the 10 above!)
Take no shit.Kick ass.Mean it.Don’t ever, ever surrender.And, for God’s sake, be vital.
Source: Jayson Gallaway, Diary of a Viagra Fiend
“Never mind your happiness; do your
duty.” —Peter Drucker
(BrainyQuote.com)
07.05.04
The Work Matters!
“What we do matters to us. Work may not be the most
important thing in our lives or the only thing. We may work because we must, but we still
want to love, to feel pride in, to respect ourselves for what we
do and to make a difference.” —Sara Ann Friedman, Work Matters: Women Talk About Their
Jobs and Their Lives
07.01.04
“How Would You Play Today If You Knew You Could Not Play
Tomorrow”Source: Slogan for Loyola’s lacrosse season, from coach
Diane Geppi-Aikens (Lucky Every Day: The Wisdom of Diane Geppi-Aikens, by Chip Silverman)
“She made us close our eyes and hear the singers she was passionate about: Roberta
Flack and Aretha Franklin. ‘Listen to the joy in their voices,’ urged Diane. ‘It’s not the words or the music. They sing with such great passion,
such heart and soul. You can feel how the singers love what they’re doing. It’s not just a
job to them. If you want to excel, you need to be passionate! Otherwise, why waste your time?’ ”
Source: Lucky Every Day: The Wisdom of Diane Geppi-Aikens, by Chip Silverman)
Must Reads!
EVEolution: The Eight Truths of Marketing to Women, Faith Popcorn
and Lys Marigold
Marketing to Women, Martha Barletta
Don’t Think Pink: What Really Makes Women Buy, Lisa Johnson and
Andrea Learned
06.30.04
Johannes Kepler: Quiet … humble … stoic??*
*Joshua Gilder & Anne-Lee Gilder, Heavenly Intrigue: Johannes Kepler, Tycho Brahe, and the Murder Behind One of History’s Greatest Scientific Discoveries
“Men and women have different styles of fearing. Men’s fears focus around
what we experience as our independence, and women’s around
loss of significant relationships. We fear engulfment, anything that
threatens to rob us of our power and control. Women most fear
abandonment, isolation, loss of love.” —Sam Keen, Fire in the Belly (see also Susan Rice)
Harvey Mackay’s Meeting Ender: “What are the five
things that could go wrong, and what would we do
about each one?”
“Secrets” of Marketing to Women
1. Show her “real” women and reliable scenarios.2. Focus on connection and teamwork.3. Capture her imagination by using stories.4. Make it multisensory.5. Add the little extras.6. Tap the emotional power of music.7. Create customer evangelists.8. Form brand alliances.
Source: Lisa Johnson & Andrea Learned, Don’t Think Pink:
What Really Makes Women Buy and How to Increase Your Share of This Crucial Market
“To Hell With Well Behaved … Recently a young
mother asked for advice. What, she wanted to know, was she to do with a 7-year-old who was obstreperous, outspoken, and
inconveniently willful? ‘Keep her,’ I replied. … The suffragettes refused to be polite
in demanding what they wanted or grateful for getting what they deserved.
Works for me.” —Anna Quindlen/Newsweek
06.25.04
“When I was growing up, my parents used to say to me: ‘Finish your dinner—people in China are
starving.’ I, by contrast, find myself wanting to say to my daughters:
‘Finish your homework—people in China and India are starving for your job.’ ” —Thomas Friedman/06.24.2004
“I often noticed that while the admirals around the table vigorously shook their heads in
disagreement, the younger officers lining the back walls nodded their heads in assent. This was a huge lesson for me: If one was going to
change things, one needed to focus on the mid-level officers. Because in just a few short years, they would be running the Navy, and
they realized, intuitively, that the future threat
environment [had changed radically].” —Thomas Barnett, The Pentagon’s New Map
06.17.04
60 – 30 = 90 – 60*
*90 – 60 > 60 – 30 (??)
“[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/06.14.04
“Palmisano is pushing IBM’s ability to assemble SWAT
teams of hardware, software services, research and sales
people to cure customers’ headaches.” —Fortune/06.14.04
No Limits?
“Short on Priests, U.S. Catholics Outsource Prayer
to Indian Clergy” —New York
Times/06.13.04 (“Special intentions,” $.90 for Indians, $5.00 for Americans)
One Person, Not So Senior!
LCDR Charles Swift, Guantanamo Bay defense
attorney
SPC Joe Darby
Shanghai. 17 million people. $10,000 p.c. (10X
China). 2000-2003: 30% p.a. growth.
Source: Washington Post/6.130.04
Disagree: “Success in life is pretty much determined by forces out side our control”
Bangladesh … 9%China … 22%
Germany … 31%Mexico … 38%France … 42%
UK … 43%Japan … 52%
Canada … 62%U.S.A. … 64%*
*81% college kids predict they’ll be richer than their parentsSource: Pew Center
Productivity!
McKesson 2002-2003: Revenue … +$7B
Employees … +500
Source: USA Today/06.14.04
Girls education #1: Yields highest return on investment in developing
world*
*better nutrition for family. Better kids’ education. Better health. Higher family
income. Lower birth rate. Etc.
Source: Larry Summers, as reported in “The Payoff From Women’s Rights,” Isobel Coleman, Foreign Affairs/May-June
2004
06.12A.04
“Ronald Reagan does not enter history tentatively—he does so with certainty and panache. At home and on the world stage, his were not the pallid etchings of a timorous politician. They were the bold strokes of a
confident and accomplished leader.”—Brian Mulroney
Mulroney on great leaders/RR: “ … magical quality that sets some men and women apart so that millions
will follow them as they conjure up grand visions and invite their countrymen to dream big and
exciting dreams”
Source: RR eulogies at National Cathedral 06.11.2004
06.12.04
“I’m not sure about his politics, but that’s not
what made him great. He inspired people. He made
us all feel better about ourselves.” —bystander, California, during RR
funeral
Chinese Industrial Growth Rate Slows!
April ’03 to April ’04: 19.1%
May ’03 to May ’04: 17.5%
Source: NYT/06.11.04
06.09.04
New Product Timing: Only Three Options
Too early
Too late
Lucky
Therefore …
Leadership = Art
Therefore …
MBA = Useless
“Some 350,00 people turn 50 each month in the United
States, providing an enormous and growing pool of potential buyers [of giant RVs] for at least the next decade.” —
Craig Kennison, industry analyst/Chicago Tribune/06.07.2004
“bold and challenging optimism,” “America as a permanently revolutionary force”—David
Brooks/NYT
“Reagan’s heroes were rugged individualists, defined by the fact that they do not know their
place”—John Micklethwait & Adrian Wooldridge/WSJ
“We have it in our own power to begin all over again”—a Reagan favorite, from Tom Paine
Optimists: TR, FDR, Reagan
06.08A.04
The One-page Proposal: How to Get Your Business Pitch onto One Persuasive Page —Patrick Riley (“Why not one and a half? Why not two? Sorry, it’s one or nothing. Once the proposal extends past the first page,
the battle is lost.”)
Biases
Importance of Success Factors by Various “Gurus”/Estimates by Tom Peters
Strategy Systems Passion Execution Porter 50% 20 15 15
Drucker 35% 30 15 20
Bennis 25% 20 30 25
Peters 15% 20 35 30
Successful Businesses’ Dozen Truths: TP’s 30-Year Perspective
1. Insanely Great & Quirky Talent.2. Disrespect for Tradition.3. Totally Passionate (to the Point of Irrationality) Belief in What We Are Here to Do.4. Utter Disbelief at the BS that Marks “Normal Industry Behavior.”5. A Maniacal Bias for Execution … and Utter Contempt for Those Who Don’t “Get It.”6. Speed Demons.7. Up or Out. (Meritocracy Is Thy Name. Sycophancy Is Thy Scourge.)8. Passionate Hatred of Bureaucracy.9. Willingness to Lead the Customer … and Take the Heat Associated Therewith. (Mantra: Satan Invented Focus Groups to Derail True Believers.)10. “Reward Excellent Failures. Punish Mediocre Successes.” 11. Courage to Stand Alone on One’s Record of Accomplishment Against All the Forces of Conventional Wisdom.12. A Crystal Clear Understanding of the power of a Good Story (Brand Power).
Kevin Roberts’ Credo
1. Ready. Fire! Aim.2. If it ain’t 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!
Sir Richard’s Rules:
Follow your passions.Keep it simple.
Get the best people to help you.Re-create yourself.
Play.
Source: Fortune/10.03
CONTEXT
The Passion Imperative:
The Leadership50
“Uncertainty is the only thing to be sure of.” —Anthony Muh,
head of investment in Asia, Citigroup Asset Management
“If you don’t like change, you’re going to like
irrelevance even less.” —General Eric Shinseki, Chief of Staff,
U. S. Army
Mount Madness v.2004
Perfect Storm
X
Corporate Mal-adaptivity
Mount Madness v.2004
Perfect Storm
X
Corporate Mal-adaptivity
The Perfect StormJobs
TechnologyGlobalization
War, Warfighting & Security
“14 MILLION service jobs are in
danger of being shipped overseas” —
The Dobbs Report/USN&WR/11.03/re new UCB
study
Jeff Immelt: 75% of “admin, back room, finance” “digitalized” in
3 years.
Source: BW (01.28.02)
“The world has arrived at a rare strategic inflection point where nearly half its population—living in China, India and Russia—have been
integrated into the global market economy, many of them highly educated workers, who can
do just about any job in the world. We’re talking about three billion people.” —Craig Barrett/Intel/01.08.2004
“This is a dangerous world and it is going to become more dangerous.”
“We may not be interested in chaos but
chaos is interested in us.”
Source: Robert Cooper, The Breaking of Nations: Order and Chaos in the Twenty-first Century
Mount Madness v.2004
Perfect Storm
X
Corporate Mal-adaptivity
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
Mount Madness v.2004
Perfect Storm
X
Corporate Mal-adaptivity
06.08.04
TP Query One: Does it bleed
when cut?
Strategy Systems Passion Execution Porter 50 20 15 15
Drucker 35 30 15 20
Bennis 25 20 30 25
Peters 15 20 35 30
Purpose/Conclusions
1. Insane times/No rules.2. Adaptability wins.3. Dramatic new value-added equation.4. IS/IT excellence dependent on a bold vision and a willingness to challenge everything “we know for sure.”5. Best roster wins!6. Insane times call for insane leaders with insane commitment.
06.06.04
Plante & Moran (#11)
Highest % women partners (19%)
Highest % partners on non-traditional work schedules (14%)
Parenting “Buddies”; 4 weeks off, 5 after 5 years; paid 4-week sabbatical for partners
every 7 years; up to 6 months unpaid parental leave (M & F)
Exceptional growth/profitability vs. Top 100
Source: Fast Company/05.04
Median Household Net Worth
<35: $7K35-44: $44K45-54: $83K
55-64: $112K65-69: $114K70-74: $120K>74: $100K
Source: U.S. Census
50+
78M67% of wealth ($28T)
Source: U.S. Census/Federal Reserve/WSJ
Net Worth Household Heads
55-64
= 15X <35
Source: U.S. Census/WSJ
Starting to Reach Out:
Sony, Ford, Walt Disney, Target, Anheuser-Busch,
P & G
Source: WSJ
06.05.04
Sysco!
06.03.04
“Mergers and acquisitions get the headlines, but studies show they often end up destroying shareholder
value instead of creating it. That’s one reason why organic growth is so prized by corporations and
investors. In fact, if you compare the stock performance of a new index of 23 companies that are masters of organic growth to the S&P500, the Organic Growth
Index beat the S&P500 handily, 31% vs. 22% over the year ending January 2004. And looking further back at a
five-year period ending in 2002, the OGI walloped the S&P500, 25% vs. 3%.” —Fortune.com/06.03.2004 (The OGI includes
Wal*Mart, Sysco, Harley-Davidson, Bed, Bath & Beyond, NVR)
“How do dominant companies lose there
position? Two-thirds of the time, they pick the wrong competitor to
worry about.” —Don Listwin, CEO,
Openwave Systems/WSJ/06.01.2004 (commenting on Nokia)
“A Bedtime Story, for $20,000”/CNN
Int’l Sleep Products Assn: 20% of mattresses sold in 2003 >$1,000 vs. 15% in 2000. Fastest growing segment: $5,000 to
$20,000.
ISPA exec: “The Baby Boomers are getting older, and more affluent. As you get older, your body changes and those aches and pains develop. So they have the money
and the inclination to upgrade.”
05.26.04
“Al-Qaida Said to have 18,000 Militants for
Raids”Source: AP/05.25.2004/from International Institute for
Strategic Studies annual survey of world affairs
“Terrorists Planning Summer Attack?” —AP
Headline/05.25.04
05.24.04
DIM/Self-service Rules!
ATMsCheckoutPhones
SpeedpassThe Web (eBay, Amazon,
Travelocity, Mapquest, banking et al.)HR, Project management, etc.
Minus 1.3M secretaries
05.23.04
“Clients want either the best or
the least expensive; there
is no in between.” —John Di Julius, Secret
Service
Steel: China
20X EU.
Source: Newsweek/05.2004
“Unless nimble and sophisticatede risk management systems are in place, the firm
will be unable to benefit from revenue growth.”
“There is a hell of a paradox. We try to model risk scenarios but end up instead
increasing the complexity of the business to the point where it is almost
unmanageable.”
Source: IBM Business Consulting Services/The Global CEO Study 2004
“We have no future because our present is too volatile.
We have only risk management. The spinning
of the given moment’s scenarios. Pattern
recognition.” —from William Gibson, Pattern Recognition
“What is it that distinguishes the thousands of years of history from what we think of as modern times?
The answer goes way beyond the progress of science, technology, capitalism and democracy. … The
revolutionary idea that defines the boundary between modern times and the past is the mastery of risk: the notion that the future is more than a whim of the gods
and that men and women are not passive before nature. [ Thinkers like Luca Paccioli, Jacob Bernoulli and Abraham de Moivre] converted risk-taking into
one of the prime catalysts that drives modern Western society … and converted the future from an enemy into an opportunity.”—Peter Bernstein, Against the
Gods: The Remarkable Story of Risk
“If you are not one of the major players, you have to take a position that is contrary to the global trend.”
“We have to ask ourselves: How can we be different? We have to find out what we can be best in the world at.”
Source: IBM Business Consulting Services/The Global CEO Study 2004
05.19.04
Siemens
Total (’94 to ’04), 376K to 415K; Germany, 218K to 167K
6X Prague (“Today it’s Hungary, tomorrow it’ll be Lithuania and Estonia”—IG Metall
rep)
“Assembly-line jobs are not the only ones at risk; software work is next.”
Source: BusinessWeek/05.2004
05.15.04
HTSH: Engage!
Commit! Engage! Try! Fail! Get up! Try again! Fail again! Try again! But never, ever stop
moving on! Progress for humanity is engendered by those who join and savor the
fray by giving one hundred percent of themselves to their dreams! Not by those timid souls who remain glued to the sidelines, stifled by tradition, and fearful of losing face or giving
offense to the reigning authorities.
Key words: Commit! Engage! Try! Fail! Persist!
HTSH: You Must Care
Make the time each day to offer an expression of appreciation to just one of your fellow human
beings. It is the accumulation of such “small” kindnesses and acts of recognition that add up to a life worth having been lived. In short … you
must care. You must wear your passion and compassion on your sleeve, and attend
assiduously to the moment. It will not come ‘round again.
Key word: Care
Chinese Offshore Tourists
’93: 3M’03: 21M
Ford Hybrid SUV Wallops Expectations
Women>$100K
College EdSource: USA Today/05.14.04
05.13.04
+People skills & emotional intelligence (financial service sales, 78%/248K; RNs, 28%/512K; lawyers, 24%/182K)
Imagination & creativity (architects, 44%/60K; designers, 43%/230K; photographers, 38%/50K)
Analytic reasoning (legal assts, 66%/159K; electronic engs, 28%/147K; computer operators, 55%/367K)
Source: “Where the Jobs Are”/NYT/05.13.2004/data 1994-2004
-Formulaic intelligence (health record clerks, 63%/36K;
secretaries & typists, 30%/1.3M; bookkeepers, 13%/247K)
Manual dexterity (sewing machine ops, 50%/347K; lathe ops, 49%/30K; butchers, 23%/67K)
Muscle power (timber cutters, 32%/25K; farm workers, 20%/182K)
Source: “Where the Jobs Are”/NYT/05.13.2004/data 1994-2004
“Over the last decade the biggest employment gains came in occupations that rely on people skills and emotional intelligence and among
jobs that require imagination and creativity. … Trying to preserve existing jobs will prove futile
—trade and technology will transform the economy whether we like it or not. Americans will be better off if they strive to move up the hierarchy of human talents. That’s where our
future lies.” —Michael Cox, Richard Alm and Nigel Holmes/“Where the Jobs Are”/NYT/05.13.2004
05.10.04
“He wasn’t one who went along with his peers” —SPC Joe Darby’s history
teacher
05.04.04
Montgomery Ward … K-Mart … Sears … Macy’s … Hutzler’s …
Wanamaker’s … DEC … Wang … Compaq … Chase Manhattan … American Motors … Chrysler …
U. S. Steel … Bethlehem Steel … AT&T … Soviet Union …
Wal*Mart … Dell … Microsoft … U.S.A. …
1997-2001
>$600: 10% to 18%$400-$600: 49% to 32%
<$400: 41% to 50%
Source: Trading Up, Michael Silverstein & Neil Fiske
05.03.04
“There is little evidence that mastery of the knowledge
acquired in business schools enhances people’s careers, or
that even attaining the MBA credential itself has much effect on graduates’ salaries or career attainment.” —Jeffrey Pfeffer (tenured professor,
Stanford GSB/2004)
“Internationally, the United States ranked sixtieth in
women’s political leadership, behind Sierra
Leone and tied with Andorra.” —Marie Wilson, Closing the Leadership Gap
>1/3rd in parliament: Sweden, Denmark, Norway, Finland, Iceland, the Netherlands, Germany
(USA: 15%,14%)
France: Constitutional amendment re women on ballot (L & R); 25% to 48% local gov’t
India: Constitutional amendment, 1/3rd village council seats (1.3M)
—Marie Wilson, Closing the Leadership Gap
“Former President Vigdis Finbogadottir likes to tell of
boys who asked their mothers during her long
term if men could be president of Iceland.” —Marie Wilson,
Closing the Leadership Gap
“Trustmarks come after brands; Lovemarks come after Trustmarks.
Think about how you make the most money. You make it when loyal users, heavy users, use your product all the
time. So having a long-term Love affair is better than having a trusting relationship —Kevin Roberts, Saatchi & Saatchi, The
Future Beyond Brands: Lovemarks
04.13.04
The Winning Edge: Peters’ Big6
1. Research-Innovation2. Entrepreneurial Attitude & Support (Especially from Capital Markets)
3. Creative (“Obstreperous”) Education4. Free Trade-Open Markets5. Individual Self-reliance (& Supports Therefore)
6. Cutting-edge Infrastructure
How Nations Become Wealthy
1. Property rights 2. Scientific rationalism 3. Capital markets 4. Fast and efficient communications and transportation
Source: The Birth of Plenty: How the Prosperity of the Modern World Was Created, William Bernstein
04.07.04
“It’s like a tsunami coming at you. You know
the tidal wave is going to hit, and it’s a question
of whether we’ll be ready.” —Ed Schneider, Professor of
Gerontology, USC
“It’s no longer enough to be a ‘change agent.’ You must
be a change insurgent—provoking, prodding,
warning everyone in sight that complacency is death.”
—Bob Reich
03.24.04
ALL YOU NEED TO KNOW ABOUT MARKETING …
“Just say no” … to micro-segmentation, teen “brand loyalty”
“Just say yes” to …Women
Professional womenWomen biz ownersBoomers/Geezers
Boomer women (!!!!!!)WellnessHispanicsGreenies
“Just say no” … to micro-segmentation, teen “brand
loyalty”
“Just say yes” to …
WomenProfessional womenWomen biz ownersBoomers/Geezers
Boomer women (!!!!!!)WellnessHispanicsGreenies
03.19.04
“The $58B hostile bid by Sanofi-Synthelabo for Aventis has been greeted skeptically, as has the news that Novartis may counterbid. Few
investors believe that Big Pharma can compensate for a deficit of new drugs by
getting bigger. Some suspect the converse is true: that size has made them sluggish. … That has led to some thinking the unthinkable: that pharmaceutical companies should leave drug
discovery to biotech companies and focus their efforts on development and marketing.”
—Financial Times/03.2004
03.16.04
“the wildest chimera of a moonstruck
mind” —The Federalist on
Jefferson’s Louisiana Purchase
03.15.04
‘We erect walls to foreign trade and even discourage job-displacing innovations. But time and again
through our history, we have discovered merely to preserve the
comfortable features of the present, rather than reaching for new levels of
prosperity, is a sure path to stagnation.” —Alan Greenspan/03.12.2004
“In my experience, all successful
commanders are prima donnas, and must be so
treated.” —George S. Patton
“When it comes to transformative technologies, overoptimistic investors are actually working for the common good—even if they don’t know it. We can be
glad that investors financed the construction of thousands of miles of track in the middle of the
nineteenth century, despite the fact that most of them dropped a bundle doing it. The same goes for over-
optimistic investors who poured money into semiconductors thirty years ago, financed undersea
fiber-optic cables in the late nineties, and now are poised to lose their shirts in the coming nanobubble. In
the dreams of avarice lie the seeds of progress.”—James Surowiecki/New Yorker/03.2004
03.12.04
The Perfect (Jobs) Storm
Off-shoringWC Automation
Reluctance to hire
“The Americans’ self-image that this tech thing was their private preserve is over. This is a wake-up call for U.S.
workers to redouble their efforts at education and research. If they do
that, it will spur a whole new cycle of innovation, and we’ll both win. If we each pull down our shutters, we will
both lose.” —Indian software exec to Tom Friedman (NYT/03.04)
03.04.04
3GSM World Congress/ Cannes/
Feb2004!
5% F500 have CIO on Board: “While some of the world’s most admired companies—
Tesco, Wal*Mart—are transforming the business landscape by including
technology experts on their boards, the vast majority are missing out on ways to boost productivity, competitiveness and
shareholder value.”
Source: Burson-Marsteller
Changing communication patterns: American Express, marketing spending on TV,
80% to 35%, ’94-’04
Source: Advertising Age/02.04
“Income Confers No Immunity as Jobs Migrate” —Headline/USA Today/02.04
“Forget India, Let’s Go to Bulgaria” —Headline,
BW/03.04, re SAP, BMW, Siemens et al. “near-shoring”
“Thaksinomics” (after Taksin 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/03.04.2004
“Is Your Job Going Abroad?” —Time/Cover/03.04
“Let’s compete—by training the best workers, investing in R & D,
erecting the best infrastructure and building an education system that graduates students who rank with the worlds best. Our goal is to be competitive with the best so we
both win and create jobs.” —Craig Barrett (Time/03.01.04)
Indian GDP/1990-2002: Ag, 34% to 21%; services,
40% to 56%
Source: The Economist/02.04
Level 5 (top) ranking/Carnegie Mellon
Software Engineering Institute: 35 of 70
companies in world are from India
Source: Wired/02.04
The “Ownership Society” (GWB): “This is a bundle of proposals that treat
workers as self-reliant pioneers who rise through several employers and
careers. To thrive, these pioneers need survival tools. They need to own their own capital reserves, their retraining
programs, their own pensions and their own health insurance.” —David
Brooks/NYT/12.20.03
“A new suspect emerges in hunt for missing U.S.
jobs” —Headline/FT/02.17.04/on small business
off-shoring
“Going Global: Flush with billions in foreign reserves,
China is embarking on a buying spree” —Cover/ Newsweek/ 03.01.04/ on
China’s aggressive offshore acquisition activity (buying brands,
technology, etc.)
“CLONING COLLEGE: South Korea’s
biomedical researchers, unhampered by politics, do world-class research
on the cheap” —Headline,
Newsweek/03.01.04
?????????
Home Furnishings … 94%Vacations … 92% (Adventure Travel … 70%/ $55B travel equipment)
Houses … 91%D.I.Y. (major “home projects”) … 80%
Consumer Electronics … 51% (66% home computers)
Cars … 68% (90%)All consumer purchases … 83%
Bank Account … 89%Household investment decisions … 67%Small business loans/biz starts … 70%
Health Care … 80%
“Tap into a midlife woman’s renewed sense of self, and your cash registers are likely to start
ringing” —Headline/Fast Company/03.04
“And even if they manage to get the age thing right, [Marti] Barletta says companies still tend to screw up in fairly predictable ways when they add women to the equation. Too often, their first impulse is to paint the
brand pink, lavishing their ads with flowers and bows, or, conversely, pandering with images of women
warriors and other cheesy clichés. In other cases they use language intended to be empathetic that come
across instead as borderline offensive. ‘One bank took out an ad saying, We recognize women’s special
needs,’ says Barletta. ‘No offense, but doesn’t that sound like the Special Olympics?’ ” —Fast Company/03.04
03.02.04
Flextronics
--$14B; 100K employees; 60% p.a. growth (’93-’00)
-- “contract mfg” to EMS/Electronics Manufacturing Services (design, mfg, logistics,
repair); “total package of outsourcing solutions” (Pamela Gordon, Technology Forecasters)
-- “The future of manufacturing isn’t just in maling things but adding value” (3,500 design
engineers)
Source: Asia Inc./02.2004
“As China becomes the world’s factory and Flextronics becomes
the biggest electronics manufacturer in China, policy makers and analysts wonder
whether there will be a future for manufacturing in Singapore, Malaysia, North America or
Europe.” —Asia Inc./02.2004
“INDIA—The Next Manufacturing Hub?” —Asia Inc./02.04
02.22.04
“The Cold War armies were not great armies, because all the decisions were made by generals and politicians. In
great armies, the job of generals is to back up their sergeants.” —COL Tom Wilhelm, from Robert
Kaplan, “The Man Who Would Be Khan,” The Atlantic, 03.2004
“With a Small Car, India Takes Big Step Onto Global Stage” —Headline, p. 1, WSJ, 02.05.2004
“Life is not a journey to the grave with the intention of
arriving safely in a pretty and well-preserved body—but rather a skid in broadside, thoroughly used up, totally worn out, and
loudly proclaiming, ‘Wow, what a ride!’ ” —anon.
“Beware of the tyranny of making Small Changes
to Small Things. Rather, make Big Changes to Big Things.” —Roger Enrico, former Chairman,
PepsiCo
02.18.04
Winning the Merger Game Is Possible
--Lots of deals--Little deals
--Friendly deals--Stay close to core competence--Strategy is easy to understand
Source: “The Mega-merger Mouse Trap”/Wall Street Journal02.17.2004/David Harding & Sam Rovit, Bain & Co./re
Comcast-Disney
02.10.04
Possession Experiences /“Desires for things”/Young adulthood/to 38
Catered Experiences/ “Desires to be served by others”/Middle adulthood
Being Experiences/“Desires for trancendany experiences”/Late
adulthood
Source: David Wolfe and Robert Snyder/Ageless Marketing
POSSESSION EXPERIENCE: New car, home entertainment system, new boat, first home …
CATERED EXPERIENCE: Thrilling theater performance, experience of playing on an exclusive golf course, throwing a highly
successful catered party …
BEING EXPERIENCE: Heading up a charity ball, helping a young person master a problem,
learning an exciting new thing …
Source: David Wolfe and Robert Snyder, Ageless Marketing
“Catered experiences more likely say ‘We have arrived!’ They mark the first stage of
being someone versus becoming someone.”
Source: David Wolfe and Robert Snyder, Ageless Marketing
02.07.04
Marketing to Women, Martha Barletta
EVEolution: The Eight Truths of Marketing to Women, Faith Popcorn & Lys Marigold
Ageless Marketing, David Wolfe & Robert Snyder
Marketing to the Mindset of Boomers and Their Elders, Carol Morgan & Doran Levy
Selling Dreams: How to Make Any Product Irresistible, Gian Luigi Longinotti-Buitoni
The Dream Society: How the Coming Shift from Information to Imagination Will Transform Your Business, Rolf Jensen
Trading Up: The New American Luxury, Michael Silverstein & Neil Fiske
?????????
Home Furnishings … 94%Vacations … 92% (Adventure Travel … 70%/ $55B travel equipment)
Houses … 91%D.I.Y. (major “home projects”) … 80%
Consumer Electronics … 51% Cars … 68% (90%)
All consumer purchases … 83% Bank Account … 89%
Household investment decisions … 67%Small business loans … 70%
Health Care … 80%
44-65: “New Consumer Majority”*
*45% larger than 18-43; 60% larger by 2010Source: Ageless Marketing, David Wolfe & Robert Snyder
“Aging Baby-boomers and Women: Typical Niche Market, or This
Decade’s Only Source of Revenue Growth?” —David Wolfe
and Robert Snyder, Ageless Marketing
“Baby-boomer Women: The Sweetest
of Sweet Spots for Marketers” —David Wolfe and Robert
Snyder, Ageless Marketing
“The New Consumer Majority is the only adult
market with realistic prospects for significant
sales growth in dozens of product lines for thousands of companies.” —David Wolfe & Robert
Snyder, Ageless Marketing
02.03.04
Bernie Goldhirsh: Sailing his passion, but sailing mags for
yachtsmen only … start Sail. Sail a biz success, but biz
mags for corporate types only
… start Inc.
1 in 10 tech jobs headed offshore by
end of 2004.
Source: Gartner Group/06.03
2004/SF’s Gavin Newsome: top 3 jobs
to women … Fire Chief, Police Chief, DA (All were
held by men)
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
01.29.04
Dell + IBM + Harley Davidson
= Magic!
Biz News 01.22.2004
Kodak
AT&T
Ford
Jack on Leadership
Integrity: Tell the truth. Admit mistakes. Demonstrate fairness and compassion. Listen.
Value human dignity.
Intelligence: IQ. EQ.
“4Es”: Energy. Energize. Edge. Execute.
Passion
Source: WSJ/01.23.2004
“What is it that distinguishes the thousands of years of history from what we think of as modern times?
The answer goes way beyond the progress of science, technology, capitalism and democracy. … The
revolutionary idea that defines the boundary between modern times and the past is the mastery of risk: the notion that the future is more than a whim of the gods
and that men and women are not passive before nature. [ Thinkers like Luca Paccioli, Jacob Bernoulli and Abraham de Moivre] converted risk-taking into
one of the prime catalysts that drives modern Western society … and converted the future from an enemy into an opportunity.”—Peter Bernstein, Against the
Gods: The Remarkable Story of Risk
“The world would be a dull place if people lacked conceit and
confidence in their own good fortune. Keynes had to admit that
‘If human nature felt no temptation to take a chance there might not be much investment merely as a result of cold calculation.’ ” —Peter Bernstein, Against the Gods: The Remarkable Story of Risk
“SCS”/Supply Chain Solutions: 750 locations;
$2.5B; fastest growing division; 19 acquisitions,
including a bank
Source: Fast Company/02.04
TIM MONICH: “the man Hollywood turns to for
the right accent”
Source: Boston Globe/01.25.2004
01.20.04
Cost of a Programmer, per IBM …
China: $12.50 per hourUSA: $56 per hour
Source: WSJ/01.19.2004
01.17.04
“We have no future because our present is too volatile.
We have only risk management. The spinning
of the given moment’s scenarios. Pattern
recognition.” —from William Gibson, Pattern Recognition
01.12.04
“The world’s new dimension (computers, Internet, globalization,
instantaneous communication, widely available instruments of mass
destruction and so on) amounts to a new metaphysics that, by empowering
individual zealots or agitated tribes with unappeasable grievances, makes the world unstable and dangerous in
radically new ways.” —Lance Morrow/Evil
Duet … Whirlpool … “washing machine” to “fabric care system” … white goods: “a sea of
undifferentiated boxes” … $400 to $1,300 … “the Ferrari of washing machines” …
consumer: “They are our little mechanical buddies. They have personality. When they are
running efficiently, our lives are running efficiently. They are part of my family.” …
“machine as aesthetic showpiece” … “laundry room” to “family studio” / “designer laundry
room” (complements Sub-Zero refrigerator and home-theater center.
Source: New York Times Magazine/01.11.2004
“Armies are like plants, immobile, firm-rooted, nourished through
long stems to the head” … guerillas: “might be a vapour;”
fighting guerillas “like eating soup with a knife”
Source: T.E. Lawrence
01.08.04
--79% of U.S. jobs in “structurally changed professions” (“permanently eliminated jobs”)(40K of 160K U.S. IBM)
--“As we trade we release more labor from the service sector because our highly skilled and highly paid workers lose their competitive advantage. So we go to the next big thing. We specialize in innovation. We develop new products and start new industries.” (Erica Groshen, labor economist, Fed of NY)
Source: CNN/Money/01.07.2004
“There is no job that is America’s God-given right
anymore.” —Carly Fiorina/ HP/
01.08.2004
“The world has arrived at a rare strategic inflection point where
nearly half its population—living in China, India and Russia—have been
integrated into the global market economy, many of them highly educated workers, who can do just about any job in the world. We’re talking about three billion people.” —Craig Barrett/Intel/01.08.2004
“September 11 amounts to World War III—the third
great totalitarian challenge to open societies in the last
100 years.” —Thomas Friedman/NYT/01.08.2004
Save the date. Dennis Kozlowski and Mark Swartz. Martha Stewart. Scott Sullivan. John Rigas. Walter
Forbes and Kirk Shelton. Frank Quattrone. Richard Scrushy.
Miscl. Enronnies
Source: Headline/Business Day/NYT/01.08.2004
Thunder Run/3rd Infantry Division/04.07.2004/”We wanted to
create as much chaos as possible.”—COL David Perkins/”Disorient and
demoralize”—DHR
“Volvo Teams Up to Build What Women Want:
Concept Car Goes for Great Storage, Easy
Maintenance” —headline/USA Today/12.16.2004/140-person team;80%
women
“Q: What will happen when a national party can fit on
a laptop?
“A: See below.”
Source: Headline/Washington Post/OUTLOOK/12.14.2003
01.07.04
China Roars!
TomPeters/01.01.2004
“China has become a manufacturing hub for the rest of the world in low-end labor-intensive goods—and the
rest of the world is becoming a manufacturing hub for China in high-end, capital-intensive goods. …
China may be a threat to certain parts of the global supply chain that rely on low-cost labor, but it
represents an even greater opportunity via production-efficiency gains, economic welfare gains and long-term dynamic potential. Its booming exports are more than matched by booming industrial imports and foreign investment opportunities. It has become
the new engine of global growth.”Source: Glen Hodgson & Mark Worrall/Export Development Canada, in “China Takes
Off”, David Hale & Lyric Hughes Hale/Foreign Affairs/Nov-Dec2003
1990-2003: Exports 8X ($380B); 6% global exports 2003 vs. 3.9% 2000; 16% of
Total Global Growth in 2002.
Source: “China Takes Off”, David Hale & Lyric Hughes Hale/Foreign Affairs/Nov-Dec2003
1998-2003: 45,000,000 layoffs in state sector; offset by $450B in
foreign investment; foreign companies account for 50+% of exports vs. 31% in Mexico,
15% in Korea.
Source: “China Takes Off”, David Hale & Lyric Hughes Hale/Foreign Affairs/Nov-Dec2003
50% of output from private firms, 37% from state-owned
firms; 80% of workforce (incl. rural) now in private
employ.
Source: “China Takes Off”, David Hale & Lyric Hughes Hale/Foreign Affairs/Nov-Dec2003
Population growth = 1%; two-thirds of housing
privately owned, 90% of urban Chinese own a home
(vs. 61% in Japan)
Source: “China Takes Off”, David Hale & Lyric Hughes Hale/Foreign Affairs/Nov-Dec2003
200 cities with >1,000,000 population.
Source: “China Takes Off”, David Hale & Lyric Hughes Hale/Foreign Affairs/Nov-Dec2003
200,000,000 unemployed; must create 20,000,000 jobs per year
to offset layoffs; 400,000,000 elderly Chinese by 2030
(currently no pension funds).
Source: “China Takes Off”, David Hale & Lyric Hughes Hale/Foreign Affairs/Nov-Dec2003
397,000,000 fixed phone
lines = 90X since 1989.
Source: “China Takes Off”, David Hale & Lyric Hughes Hale/Foreign Affairs/Nov-Dec2003
2003: China-Hong Kong leading producer in 8 of 12 key consumer electronic product areas (>50%: DVDs, digital cameras; >33.33%:
DVD-ROM drives, personal desktop and notebook computers; >25% mobile phones, color TVs,
PDAs, car stereos).Source: “China Takes Off”, David Hale & Lyric Hughes
Hale/Foreign Affairs/Nov-Dec2003
“When the Chinese Consumer Is King:
America’s mass market is second to none.
Someday it will just be second.” —Headline, New York Times/12.14.2003
World economic output: U.S.A., 21%; EU, 16%; China, 13%
(2X since1991)
Source: New York Times/12.14.2003
“America, like everyone else, must get used to being a loser as well as a gainer in the global economy. In the end, the
21st century is unlikely to be the American Century.” —”When the Chinese Consumer Is King”/New
York Times/12.14.2003. “The notion that God intended Americans to be permanently
wealthier than the rest of the world, that gets less and less likely as time
goes on.” —Robert Solow, Nobel laureate in economics/New York Times/12.14.2003
Yo, Jim . Or:
The Case for …
Technicolor!Tom Peters/12.30.2003
“intrepid, unprincipled, reckless, predatory, with
boundless ambition, civilized in externals but
a savage at heart.”
Herman Melville on JPJ: “intrepid, unprincipled,
reckless, predatory, with boundless ambition,
civilized in externals but a savage at heart.” —from Evan
Thomas, John Paul Jones: Sailor, Hero, Father of the American Navy
Huh?
“Humility: The Surprise Factor in Leadership … bosses with Gung-
ho Qualities and Charisma May Be Out of Fashion” —Headline/FT/
re JCollins/10.03
Jim & Tom. Joined at the
hip. Not.
I. Good to GreatII. Built to LastIII. Quiet, Humble Leaders
I. Good to GreatII. Built to LastIII. Quiet, Humble Leaders
Good to Great: Fannie Mae … Kroger … Walgreens … Philip
Morris … Pitney Bowes … Abbott … Kimberly-Clark … Wells Fargo
Good to Great: Fannie Mae … Kroger … Walgreens … Philip
Morris … Pitney Bowes … Abbott … Kimberly-Clark … Wells Fargo
Good to Great: “Fannie Mae and Freddie Mac receive as much as
$164 billion in implicit federal subsidies but have done little to
increase home ownership or reduce the cost of home loans,
according to a draft study by the Federal Reserve.” —New York Times/12.23.03
(Average rate reduction is 7 basis points, or .07%)
Great Companies … SET THE AGENDA.
(Period.)
AGENDA SETTERS: “Set the Table”/ Pioneers/ Questors/ Adventurers
US Steel … Ford … Macy’s … Sears … Litton Industries … ITT … The Gap … Limited … Wal*Mart … P&G … 3M …
Intel … IBM … Apple … Nokia … Cisco … Dell … MCI … Sun … Oracle …
Microsoft … Enron … Schwab … GE … Southwest … Laker …People Express
… Ogilvy … Chiat/Day … Virgin … eBay … Amazon … Sony … BMW … CNN …
T & B: Atari, DEC, WANG?
J vs. T: HP/CarlyF?
I. Good to GreatII. Built to LastIII. Quiet, Humble Leaders
Built to Last v. Built to Flip
“The problem with Built to Last is that it’s a romantic notion. Large companies are
incapable of ongoing innovation, of ongoing flexibility.”
“Increasingly, successful businesses will be ephemeral. They will be built to yield
something of value – and once that value has been exhausted, they will vanish.”
Fast Company
Warren Bennis & Patricia Ward Biederman/
Organizing Genius: Great Groups Don’t
Last Very Long!
W.A. Mozart W.A. Mozart 1756 – 17911756 – 1791
HE CHANGED THE WORLDHE CHANGED THE WORLD
AND AND
ENRICHED HUMANITY ENRICHED HUMANITY
“We are in a
brawl with no rules.”
Paul Allaire
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
“The difficulties … arise from the inherent conflict between the need to control existing operations and the need to create the kind of environment that will permit new ideas to flourish—and old ones to die a
timely death. … We believe that most corporations will find it impossible to
match or outperform the market without abandoning the assumption of continuity. … The current apocalypse—the transition from a state of continuity to state of discontinuity—has the same suddenness [as the trauma that beset civilization in
1000 A.D.]”
Richard Foster & Sarah Kaplan, “Creative Destruction” (The McKinsey Quarterly)
“But what if [former head of strategic planning at Royal Dutch Shell] Arie De Geus is wrong in suggesting, in The Living Company, that firms
should aspire to live forever? Greatness is fleeting and, for corporations, it will become
ever more fleeting. The ultimate aim of a business organization, an artist, an athlete or a stockbroker may be to explode in a dramatic
frenzy of value creation during a short space of time, rather than to live forever.”
Kjell Nordström and Jonas Ridderstråle, Funky Business
Jane Jacobs: Exuberant Variety vs. the Great Blight of Dullness.
F.A. Hayek: Spontaneous Discovery Process. Joseph Schumpeter: the Gales of Creative Destruction.
I. Good to GreatII. Built to LastIII. Quiet, Humble Leaders
Huh?
“Quiet, workmanlike, stoic leaders bring about the big
transformations.”--JC
Huh?
“Humility: The Surprise Factor in Leadership … bosses with Gung-
ho Qualities and Charisma May Be Out of Fashion” —Headline/FT/
re JCollins/10.03 (TP: scribble: “Nelson, Wellington, Montgomery, Disraeli, Churchill, Thatcher”)
WellingtonNelsonDisraeliChurchill
MontgomeryThatcher
“Humble” Pastels?
T. Paine/P. Henry/A. Hamilton/T. Jefferson/B. FranklinA. Lincoln/U.S. Grant/W.T. Sherman
TR/FDR/LBJ/RR/JFKPatton/Monty/Halsey
M.L. King/C. de Gaulle/M. Gandhi/W. ChurchillPicasso/Mozart/Copernicus/Newton/Einstein/Djarassi/Watson
H. Clinton/G. Steinem/I. Gandhi/G. Meir/M. Thatcher E. Shockley/A. Grove/J. Welch/L. Gerstner/L. Ellison/B. Gates/
S. Jobs/S. McNealy/T. Turner/R. Murdoch/W. Wriston A. Carnegie/J.P. Morgan/H. Ford/S. Honda/J.D. Rockefeller/
T.A. Edison Rummy/Norm/Henry/Wolfie
Elizabeth Cady Stanton/Susan B. Anthony/Martha Cary Thomas/Carrie Chapman Catt/Alice Paul/Anna Elizabeth
Dickinson/Arabella Babb Mansfield/Margaret Sanger
“You can’t behave in a calm, rational manner. You’ve got to
be out there on the lunatic fringe.” — Jack Welch,
on GE’s quality program
“Roosevelt’s duplicity, Churchill’s self-absorption” … “We are all
worms. But I do believe that I am a glow-worm.” (WSC) … “Imperial
and bold” [WSC and TR] … “arrogance and instability” … “rough, sarcastic, bullying”
Source: Jon Meacham, Franklin and Winston, et al.
“a vainglorious self-promoter spoiling for
a fight” —Arthur Koestler on Galileo
Herman Melville on JPJ: “intrepid, unprincipled,
reckless, predatory, with boundless ambition,
civilized in externals but a savage at heart.” —from Evan
Thomas, John Paul Jones: Sailor, Hero, Father of the American Navy
Audie Murphy was the most decorated soldier in WW2.
He won every medal we had to offer, plus 5 presented by Belgium and France. There was one common medal he
never won …
… the Good Conduct medal.
Jim Collins vs. Michael Maccoby
“quiet, workmanlike, stoic”vs.
“larger-than-life leaders”/ “egoists, charmers, risk-takers with big
visions”: Carnegie, Rockefeller, Edison, Ford, Welch, Jobs, Gates
“In Tom’s world, it’s always better to try a
swan dive and deliver a
colossal belly flop than to step timidly off the
board while holding your nose.” —Fast Company /October2003
The Re-imagineer’s Credo … or, Pity the Poor Brown*
Technicolor Times demand …Technicolor Leaders and Boards who recruit …
Technicolor People who are sent on …Technicolor Quests to execute …
Technicolor (WOW!) Projects in partnership with …Technicolor Customers and …
Technicolor Suppliers all of whom are in pursuit of …Technicolor Goals and Aspirations fit for …
Technicolor Times.
*WSC
“In Italy for 30 years under the Borgias they had warfare, terror, murder,
bloodshed—and produced Michelangelo, da Vinci and the
Renaissance. In Switzerland they had brotherly love, 500 years of democracy and peace, and what did they produce
—the cuckoo clock.”
Orson Welles, as Harry Lime, in The Third Man
The Breaking of Nations: Order and Chaos in the
Twenty-first CenturyRobert Cooper (as interpreted by Tom Peters)
“This is a dangerous world and it is going to become more
dangerous.”
“We may not be interested in chaos but chaos is interested
in us.”
Source: Robert Cooper, The Breaking of Nations: Order and Chaos in the Twenty-first Century
“What happened after 1945 was not so much a radically new system as the concentration and culmination of the old
one.” —Robert Cooper, on the Cold War, from The
Breaking of Nations: Order and Chaos in the Twenty-first Century
“What has been emerging into the daylight since 1989 is not a
rearrangement of the old system but a new system. Behind this lies
a new form of statehood, or at least states that are behaving in a
radically different way from the past.” —Robert Cooper, The Breaking of Nations: Order
and Chaos in the Twenty-first Century
“The image of peace and order through a single hegemonic power center [is
wrong]. … It was not the empires but the small states that proved to be a dynamic
force in the world. Empires are ll-designed for promoting change. Holding
an empire together requires an authoritarian political style; innovation
leads to instability.” —Robert Cooper, The Breaking of Nations: Order and Chaos in the Twenty-first
Century
Read This!
“The new century risks being overrun by both anarchy and technology. The two great destroyers of history may reinforce each other. Both the spread of terrorism and that of weapons of mass destruction point to a world in which
Western governments are losing control. The spread of the technology of mass destruction represents a potentially massive redistribution of power
away from the advanced industrial (and democratic) states and toward smaller states that may be less stable and have less of a stake in an orderly world; or more dramatically still, it may represent a redistribution of power
away from the state itself and towards individuals, that is to say terrorists or criminals. In the past to be damaging, an ideological movement had to be
widespread to recruit enough support to take on authority. Henceforth, comparatively small groups will be able to do the sort of damage which
before only state armies or major revolutionary movements could achieve. A few fanatics with a ‘dirty bomb’ or biological weapons will be able to cause
death on a scale not previously envisaged. … Emancipation, diversity, global communication—all of the things that promise an age of riches and creativity—could also bring a nightmare in which states lose control of the means of
violence and people lose control of their futures.”—Robert Cooper, The Breaking of Nations: Order and Chaos in the Twenty-first Century
Reflect.
“The two systems—the modern based on balance
and the post-modern based on openness—do not co-
exist well together.” —Robert Cooper,
The Breaking of Nations: Order and Chaos in the Twenty-first Century
“Before we can talk about the security requirements for today
and tomorrow, we have to forget the security rules of yesterday.” —Robert Cooper, The
Breaking of Nations: Order and Chaos in the Twenty-first Century
TP: Reflect. Honor. Destroy.
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