Punchline%20

1
Punchline
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The last word There is no last word.
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NEW ZEALAND 2007
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Ho hum 2 weeks in New Zealand
PfizerFordGapChryslerYahoomicrosoftwalma
rt??????
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It is not the strongest of the species that
survives, nor the most intelligent, but the one
most responsive to change. Charles Darwin
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Tom Peters X25EXCELLENCE.
ALWAYS.Transforming Life, Work,
OrganizationsManchester, England, 07 March
2007In Search of Excellence 1982-2007
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Slides at tompeters.com
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EXCELL-ENCE????
9
I am often asked by would-be entrepreneurs
seeking escape from life within huge corporate
structures, How do I build a small firm for
myself? The answer seems obvious Buy a very
large one and just wait. Paul Ormerod, Why
Most Things Fail Evolution, Extinction and
Economics
10
SP Stability Ratings
1985 2006Low Risk
41 13 Average Risk 24
14High Risk 35 73Likelihood
of stable long-term earnings growthSource
Fortune (2 October 2006)
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EXCELLENCE. CIRCA 1982.
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Excellence1982 The Bedrock Eight
Basics 1. A Bias for Action 2. Close to the
Customer 3. Autonomy and Entrepreneurship 4.
Productivity Through People 5. Hands On,
Value-Driven 6. Stick to the Knitting 7. Simple
Form, Lean Staff 8. Simultaneous Loose-Tight
Properties
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ExIn 1982-2002/Forbes.comDJIA 10,000 yields
85,000 EI 10,000 yields 140,050
Forbes/Excellence Index /Basket of 32
publicly traded stocks
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EXCELLENCE. ASPIRATION.
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Why in the world did you go to Siberia?
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Enterprise (at its best) An emotional,
vital, innovative, joyful, creative,
entrepreneurial endeavor that elicits maximum
concerted human potential in the wholehearted
service of others.Excellence.
Always.Employees, Customers, Suppliers,
Communities, Owners, Temporary partners
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EXCELLENCE. INNOVATE. OR. DIE.
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More than 1 RD spending, last 25 years?
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GM
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InnoTacs
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We become who we hang out with 1
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Measure Strangeness/Portfolio
QualityStaffConsultantsVendorsOut-sourcing
Partners (, Quality)Innovation Alliance
PartnersCustomersCompetitors (who we
benchmark against) Strategic Initiatives
Product Portfolio (LineEx v. Leap)IS/IT
ProjectsHQ LocationLunch MatesLanguageBoard
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Diverse groups of problem solversgroups of
people with diverse toolsconsistently
outperformed groups of the best and the
brightest. If I formed two groups, one random
(and therefore diverse) and one consisting of the
best individual performers, the first group
almost always did better. Diversity trumped
ability. Scott Page, The Difference How the
Power of Diversity Creates Better Groups, Firms,
Schools, and Societies
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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
timessee immediately above.) (5) Freaks are
the only (ONLY) ones who succeedas 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
organizations are in ruts. Make that chasms.)
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Normal o for 800
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The Bottleneck Is at the Top of the
BottleWhere are you likely to find people
with the least diversity of experience, the
largest investment in the past, and the greatest
reverence for industry dogma At the top!
Gary Hamel/Harvard Business Review
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We become who we hang out with 2
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WhackyWikiWorldWow
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Wikinomics How Mass Collaboration Changes
Everything Don Tapscott Anthony Williams
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The Billion-man Research Team Companies
offering work to online communities are reaping
the benefits of crowdsourcing. Headline,
FT, 0110.07
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WikinomicsWikiWorldWeapons of Mass
collaborationCrowdSourcingsmart
mobsLinuxHuman genomE projectInnoCentiveYouTub
eSecond LifeWikipediaMyspace
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Rob McEwen/CEO/Goldcorp Inc./Red Lake
goldSource Wikinomics How Mass Collaboration
Changes Everything, Don Tapscott Anthony
Williams
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try it. Try it. Try it. Try it. Try it. Try it.
Try it. Try it. Screw it up. Try it. Try it. Try
it. Try it. Try it. Try it. Try it. Screw it up.
it. Try it. Try it. try it. Try it. Screw it up.
Try it. Try it. Try it.
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do things.
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We have a strategic plan. Its called doing
things. Herb Kelleher
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drill.
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This is so simple it sounds stupid, but it is
amazing how few oil people really understand that
you only find oil if you drill wells. You may
think youre finding it when youre drawing maps
and studying logs, but you have to drill.
Source The Hunters, by John Masters, Canadian
O G wildcatter
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try things.
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We made mistakes, of course. Most of them were
omissions we didnt think of when we initially
wrote the software. We fixed them by doing it
over and over, again and again. We do the same
today. While our competitors are still sucking
their thumbs trying to make the design perfect,
were already on prototype version 5. By the
time our rivals are ready with wires and screws,
we are on version 10. It gets back to planning
versus acting We act from day one others plan
how to planfor months. Bloomberg by Bloomberg
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Screw. things.Up.
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FAIL, FAIL AGAIN. FAIL BETTER. Samuel Beckett
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Fail . Forward. Fast.High Tech CEO,
Pennsylvania
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Fail faster. Succeed Sooner.David
Kelley/IDEO
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Sams Secret 1!
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Reward excellent failures. Punish mediocre
successes.Phil Daniels, Sydney exec
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try.Miss.try.
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READY.FIRE!AIM.Ross Perot (vs Aim! Aim!
Aim! /EDS vs GM/1985)
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You miss 100 of the shots you never take.
Wayne Gretzky
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EXCELLENCE. 4/40.
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4/40
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De-cent-ral-iz-a-tion!
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If if feels painful and scarythats real
delegation Caspian Woods, small biz owner
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The True Logic of Decentralization6 divisions
6 tries6 divisions 6 DIFFERENT leaders
6 INDEPENDENT tries Max probability of
win6 divisions 6 very DIFFERENT leaders 6
very INDEPENDENT tries Max probability of
far out/3-sigma winDriver Law of
Large s
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Best practice ZERO Standard Deviation
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Ex-e-cu-tion!
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Execution is the job of the business leader.
Larry Bossidy Ram Charan/ Execution The
Discipline of Getting Things Done
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Execution is a systematic process of
rigorously discussing hows and whats,
tenaciously following through, and ensuring
accountability. Larry Bossidy Ram Charan/
Execution The Discipline of Getting Things Done
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Goal (Vision) Projects Milestones
Rapid Review Truth-telling accountability
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Costco figured out the big, simple things and
executed with total fanaticism. Charles
Munger, Berkshire Hathaway
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Ac-count-a-bil-ity!
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GE has set a standard of candor. There is no
puffery. There isnt an ounce of denial in the
place. Kevin Sharer, CEO Amgen, on the GE
mystique (Fortune)
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615A.M.
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DECENTRALIZATION.EXECUTION.ACCOUTABILITY.61
5A.M.
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EXCELLENCE. VALUE ADDED.UP THE LADDER.
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EXCELLENCE.VALUE-ADDED LADDER I. SOLVE IT.
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55B
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Big Browns New Bag UPS Aims to Be the Traffic
Manager for Corporate America Headline/BW/2004
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Up, Up, Up, Up the Value-added Ladder.
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The Value-added Ladder/ STUFF N THINGSGoods
Raw Materials
70
The Value-added Ladder/Stuff TRANSACTIONSServ
icesGoods Raw Materials
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The Value-added Ladder/ OPPORTUNITY-SEEKING
Gamechanging SolutionsServicesGoods Raw
Materials
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The business of selling is not just about
matching viable solutions to the customers that
require them. Its equally about managing the
change process the customer will need to go
through to implement the solution and achieve the
value promised by the solution. One of the key
differentiators of our position in the market is
our attention to managing change and making
change stick in our customers organization.
(E.g. CRM failure rate/Gartner 70) Jeff
Thull, The Prime Solution Close the Value Gap,
Increase Margins, and Win the Complex Sale
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The Value-added Ladder/ OPPORTUNITY-SEEKING
Implemented Gamechanging SolutionsServicesGoods
Raw Materials
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Huge Customer Satisfaction versus Customer
Success
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Department Head to Managing Partner, IS
HR, RD, etc. Inc.
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AnswerPSF
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Core MechanismGame-changing Solutions PSF
(Professional Service Firm model/The
Organizing Principle) Brand You(Distinct or
Extinct/The Talent) Wow! Projects
(Different vs Better/The Work)
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HCare CIO Technology Executive (workin in a
hospital) Or/to Full-scale, Accountable (life
or death) Member-Partner of XYZ Hospitals
Senior Healing-Services Team (who happens to be a
techie)
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Big Idea Corporation as Mega-PSF
(Professional Service Firm) Virtual
Collection of Entrepreneurially-minded
Professionals (Talent/Roster)
Creating/Applying Intellectual Capital (Work
Product)
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EXCELLENCE.VALUE-ADDED LADDER II. EXPERIENCE
IT.
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Experiences are as distinct from services as
services are from goods. Joe Pine Jim
Gilmore, The Experience Economy Work Is Theatre
Every Business a Stage
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Experience Rebel Lifestyle!What we sell is
the ability for a 43-year-old accountant to dress
in black leather, ride through small towns and
have people be afraid of him.Harley exec,
quoted in Results-Based Leadership
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Up, Up, Up, Up the Value-added Ladder.
84
The Value-added Ladder/ MEMORABLE
CONNECTIONSpellbinding Experiences
Gamechanging SolutionsServicesGoods Raw
Materials
85
CXOChief eXperience Officer
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EXCELLENCE.VALUE-ADDED LADDER III. DREAM
IT.
87
Furniture vs. DreamsWe do not sell furniture
at Domain. We sell dreams. This is accomplished
by addressing the half-formed needs in our
customers heads. By uncovering these needs, we,
in essence, fill in the blanks. We convert
needs into dreams. Sales are the inevitable
result. Judy George, Domain Home Fashions
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Up, Up, Up, Up the Value-added Ladder.
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The Value-added Ladder/ EMOTIONDreams Come
TrueSpellbinding Experiences Gamechanging
SolutionsServicesGoods Raw Materials
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CDMChief Dream Merchant
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Dreams Come TrueIBMUPS
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EXCELLENCE.VALUE-ADDED LADDER III. ALL YOU
NEED IS LOVE.
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Brands have run out of juice. Theyre dead.
Kevin Roberts/Saatchi Saatchi
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Kevin Roberts Lovemarks!
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Up, Up, Up, Up the Value-added Ladder.
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The Value-added Ladder/ ECSTASY Lovemark
Dreams Come True Spellbinding
ExperiencesServicesGoodsRaw Materials
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CL OChief Lovemark Officer
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EXCELLENCE.NEW VALUE EQUATION. NEW
C-levels.
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CROChief Revenue Officer
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CXOChief eXperience Officer
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CDMChief Dream Merchant
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CFOChief Festivals Officer
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CPIChief Portal Impresario
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C Ww MChief WikiWorld Maniac
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CCOChief Conversations Officer
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CL OChief Lovemark Officer
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CSOChief Seduction Officer
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CSTOChief Storytelling Officer
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CDOChief Design Officer
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CtaOChief talent acquisition Officer
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CFAOChief freaks acquisition Officer
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CQOChief quest-meister
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CTOChief Thrills Officer
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CWOChief WOW Officer
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C!OChief ! Officer
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women.BOOMERS.GEEZERS.
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women.BOOMERS.GEEZERS.
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Forget China, India and the Internet Economic
Growth Is Driven by Women. Headline, Economist,
April 15, 2006, Leader, page 14
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Womens TrifectaBuy WealthLead
ECLIPSE OF MALES (Old/Retire Young/Poorly
educated)
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Not Just America Boys Falling Seven Years
Behind Girls at GCSE Level headline, Weekly
Telegraph, UK, 10.25.06
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Women are the majority market Fara
Warner/The Power of the Purse
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The Perfect Answer
Jill and Jack buy slacks in black
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(No Transcript)
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She knows more about the Volvo than the
salesman who greets her at the door. But how is
she treated? As if she has a low IQ , is slightly
hard of hearing , and really has no right to be
buying a luxury car and if she brought a male
friend with her, odds are 101 that the clueless
salesperson spent most of his time speaking to
him . Selling to Men, Selling to Women, Jeffery
Tobias Halter
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Women dont buy brands. They join
them.EVEolution
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Selling to men The TRANSACTION ModelSelling to
Women The RELATIONAL ModelSource Selling
to Men, Selling to Women, Jeffery Tobias Halter
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Week 8 testosterone time!Louann Brizendine,
Neuropsychiatrist, The Female Brain. Week
8/Testosterone surge kills communication
cells grows sex aggression cells. Also/E.g.
10X to 20X, F eye contact/look for emotional
signals by 3 months. Later F, more sentences
that begin with Lets more likely to take
turns
128
1. Men and women are different.2. Very
different.3. VERY, VERY DIFFERENT.4. Women
Men have a-b-s-o-l-u-t-e-l-y nothing in
common.5. Women buy lotsa stuff.6. WOMEN BUY
A-L-L THE STUFF.7. Womens Market Opportunity
No. 1.8. Men are (STILL) in charge.9. MEN ARE
TOTALLY, HOPELESSLY CLUELESS ABOUT WOMEN.
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10. Womens Market Opportunity No. 1.
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Cases! Cases! Cases!McDonalds
(mom-centered to majority consumer not via
kids)Home Depot (Do it everything!
Herself)PG (more than house cleaner)
DeBeers (right-hand rings/4B)AXA
FinancialKodak (women emotional centers of
the household)Nike (gt jock endorsements new
def sports majority consumer)AvonBratz (young
girls want friends, not a blond
stereotype)Source Fara Warner/The Power of the
Purse
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Forget China, India and the Internet Economic
Growth Is Driven by Women. Headline, Economist,
April 15, 2006, Leader, page 14
132
Since 1970, women have held two out of every
three new jobs created. FT, 10.03.2006
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10 UNASSAILABLE REASONS WOMEN
RULE Women make all the financial
decisions.Women control all the wealth. Women
substantially outlive men. Women start most of
the new businesses. Womens work force
participation rates have soared
worldwide. Women are closing in on same pay for
same job. Women are penetrating senior
ranks rapidly even if the pace is slow for
the corner office per se. Womens
leadership strengths are exceptionally well
aligned with new organizational effectiveness
value-added imperatives. Women are better
salespersons than men. Women buy almost
everythingcommercial as well as consumer
goods. So what exactly is the point of men?
134
AS LEADERS, WOMEN RULE New Studies find that
female managers outshine their male counterparts
in almost every measure TITLE/ Special
Report/ BusinessWeek
135
Womens Strengths Match New Economy Imperatives
Link rather than rank workers favor
interactive-collaborative leadership style
empowerment beats top-down decision making
sustain fruitful collaborations comfortable with
sharing information see redistribution of power
as victory, not surrender favor
multi-dimensional feedback value technical
interpersonal skills, individual group
contributions equally readily accept ambiguity
honor intuition as well as pure rationality
inherently flexible appreciate cultural
diversity. Judy B. Rosener, Americas
Competitive Secret Women Managers
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New (4 of 7) Value-added Ladder Plays to
Womens Inherent Strengths! Lovemark/F Dreams
Come True/F Spellbinding Experiences/FGamechangi
ng Solutions/FServices/FGoods/MRaw Materials/M
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women.BOOMERS.GEEZERS.
138
Boomers-Geezers-Womens TrifectaBuy/all
Wealth/all time left/ lots
Eclipse of males/retire-die
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!!!!!!!!!!!!!!!!! People turning 50 today have
more than half of their adult life ahead of
them. Bill Novelli, 50 Igniting a Revolution
to Reinvent America
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Average of cars purchased per household,
lifetime 13Average of cars bought per
household after the head of household reaches
age 50 7Source Marti Barletta, PrimeTime Women
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44-65 New Customer Majority 45 larger
than 18-43 60 larger by 2010Source Ageless
Marketing, David Wolfe Robert Snyder
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EXCELLENCE. BEDROCK.TALENT.
143
Hire very good people!
144
We believe companies can increase their market
cap 50 percent in 3 years. Steve Macadam at
Georgia-Pacific changed 20 of his 40 box plant
managers to put more talented, higher paid
managers in charge. He increased profitability
from 25 million to 80 million in 2 years.
Ed Michaels, War for Talent
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SO YOURE A PEOPLE PERSON? PROVE IT.
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The leaders of Great Groups love talent and
know where to find it. They revel in the talent
of others. Warren Bennis Patricia Ward
Biederman, Organizing Genius
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PARCs Bob Taylor Connoisseur of Talent
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SO YOURE A PEOPLE PERSON? PROVE IT.
149
lt CAPEXgt People!
150
The Value-added Ladder/ OPPORTUNITY-SEEKING
Implemented Gamechanging Solutions (People
intensive)Services (People Capital
intensive)Goods (Capital intensive) Raw
Materials (Capital intensive)
151
LIVE FOR TALENT!
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Our MissionTo develop and manage talentto
apply that talent,throughout the world, for the
benefit of clientsto do so in partnership to
do so with profit.WPP
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Brand Talent.
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EXCELLENCE. BEDROCK.LEADERSHIP.9Ps.
155
PURPOSE.PASSION.Potential.Presence.Personal.P
ERSISTENCE.PEOPLE. Potent.Positive.
156
PURPOSE.PASSION.Potential.Presence.Personal.P
ERSISTENCE.PEOPLE. Potent.Positive.
157
People want to be part of something larger than
themselves. They want to be part of something
theyre really proud of, that theyll fight for,
sacrifice for , trust. Howard Schultz,
Starbucks (IBD/09.05)
158
PURPOSE.PASSION.Potential.Presence.Personal.P
ERSISTENCE.PEOPLE. Potent.Positive.
159
Nothing is so contagious as enthusiasm.
Samuel Taylor Coleridge
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Whenever anything is being accomplished, I have
learned, it is being done by a monomaniac with a
mission. Peter Drucker
161
PURPOSE.PASSION.Potential.Presence.Personal.P
ERSISTENCE.PEOPLE. Potent.Positive.
162
In the end, management doesnt change culture.
Management invites the workforce itself to
change the culture. Lou Gerstner
163
The role of the Director is to create a space
where the actors and actresses can become more
than theyve ever been before, more than theyve
dreamed of being. Robert Altman, Oscar
acceptance speech
164
PURPOSE.PASSION.Potential.Presence.Personal.P
ERSISTENCE.PEOPLE. Potent.Positive.
165
25
166
PURPOSE.PASSION.Potential.Presence.Personal.P
ERSISTENCE.PEOPLE. Potent.Positive.
167
You must be the change you wish to see in the
world.Gandhi
168
PURPOSE.PASSION.Potential.Presence.Personal.P
ERSISTENCE.PEOPLE. Potent.Positive.
169
This adolescent incident of getting from
point A to point B is notable not only because
it underlines Grants fearless horsemanship and
his determination, but also it is the first known
example of a very important peculiarity of his
character Grant had an extreme, almost phobic
dislike of turning back and retracing his steps.
If he set out for somewhere, he would get there
somehow, whatever the difficulties that lay in
his way. This idiosyncrasy would turn out to be
one of the factors that made him such a
formidable general. Grant would always, always
press onturning back was not an option for him.
Michael Korda, Ulysses Grant
170
Success seems to be largely a matter of
hanging on after others have let go. William
Feather, author
171
PURPOSE.PASSION.Potential.Presence.Personal.P
ERSISTENCE.PEOPLE. Potent.Positive.
172
Leaders do people. Period. Anon.
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A review of Jack and Suzy Welchs Winning claims
there are but two key differentiators that set GE
culture apart from the herd First Separating
financial forecasting and performance
measurement. Performance measurement based, as it
usually is, on budgeting leads to an epidemic of
gaming the system. GEs performance measurement
is divorced from budgetingand instead reflects
how you do relative to your past performance and
relative to competitors performance i.e., its
about how you actually do in the context of what
happened in the real world, not as compared to a
gamed-abstract plan developed last year.
Second Putting HR on a par with finance and
marketing.
174
Leaders SERVE people. Period. Anon.
175
Servant Leadership/Robert Greenleaf 1. Do
those served grow as persons? 2. Do they,
while being served, become healthier wiser,
freer, more autonomous, more likely themselves to
become servants?
176
PURPOSE.PASSION.Potential.Presence.Personal.P
ERSISTENCE.PEOPLE. Potent.Positive.
177
Kevin Roberts Credo1.
Ready. Fire! Aim.2. If it aint broke ... Break
it!3. Hire crazies.4. Ask dumb questions.5.
Pursue failure.6. Lead, follow ... or get out of
the way!7. Spread confusion.8. Ditch your
office.9. Read odd stuff.10. Avoid moderation!
178
PURPOSE.PASSION.Potential.Presence.Personal.P
ERSISTENCE.PEOPLE. Potent.Positive.
179
On NELSON other admirals more frightened of
losing than anxious to win
180
The greatest dangerfor most of usis not that
our aim istoo highand we miss it,but that it
istoo lowand we reach it.Michelangelo
181
PURPOSE.PASSION.Potential.Presence.Personal.P
ERSISTENCE.PEOPLE. Potent.Positive.
182
Excellence can be obtained if you ... care
more than others think is wise ... risk more
than others think is safe ... dream more than
others think is practical ... expect
more than others think is
possible. Source Anon. (Posted _at_ tompeters.com
by K.Sriram, November 27, 2006 117 AM)
183
"Life is not a journey to the grave with the
intention of arriving safely in one pretty and
well preserved piece, but to skid across the line
broadside, thoroughly used up, worn out, leaking
oil, shouting GERONIMO! Bill McKenna,
professional motorcycle racer (Cycle magazine)
184
EXCELLE ALWAYS.