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The Challenge: To Create More Value in All Negotiations

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Title: The Challenge: To Create More Value in All Negotiations


1
Long Excellence! Tom Peters/16 August
2013 Institute of Internal Auditors/Orlando (slide
s _at_ tompeters.com/excellencenow.com)
2
At a party given by a billionaire on Shelter
Island, Kurt Vonnegut informs his pal, Joseph
Heller, that their host, a hedge fund manager,
had made more money in a single day than Heller
had earned from his wildly popular novel Catch-22
over its whole history. Heller responds
3
At a party given by a billionaire on Shelter
Island, Kurt Vonnegut informs his pal, Joseph
Heller that their host, a hedge fund manager,
had made more money in a single day than Heller
had earned from his wildly popular novel Catch-22
over its whole history. Heller responds Yes,
but I have something he will never have
Source John Bogle, Enough. The Measures of
Money, Business, and Life (Bogle is founder of
the Vanguard Mutual Fund Group)
4
At a party given by a billionaire on Shelter
Island, Kurt Vonnegut informs his pal, Joseph
Heller that their host, a hedge fund manager,
had made more money in a single day than Heller
had earned from his wildly popular novel Catch-22
over its whole history. Heller responds Yes,
but I have something he will never have
enough. Source John Bogle, Enough. The
Measures of Money, Business, and Life (Bogle is
founder of the Vanguard Mutual Fund Group)
5
Too Much Cost, Not Enough Value Too Much
Speculation, Not Enough Investment Too Much
Complexity, Not Enough Simplicity Too Much
Counting, Not Enough Trust Too Much Business
Conduct, Not Enough Professional Conduct Too
Much Salesmanship, Not Enough Stewardship Too
Much Focus on Things, Not Enough Focus on
Commitment Too Many Twenty-first Century
Values, Not Enough Eighteenth-Century
Values Too Much Success, Not Enough
Character Source Chapter titles from Jack
Bogle, Enough.
6
Managers have lost dignity over the past decade
in the face of wide spread institutional
breakdown of trust and self-policing in business.
To regain societys trust, we believe that
business leaders must embrace a way of looking at
their role that goes beyond their responsibility
to the shareholders to include a civic and
personal commitment to their duty as
institutional custodians. In other words, it is
time that management became a profession.
Rakesh Khurana Nitin Nohria, Its Time To
Make Management a True Profession, HBR/10.08
7
Really First Things Before First Things
8
The doctor interrupts after Source
Jerome Groopman, How Doctors Think
9
18
10
18 seconds!
11
An obsession with Listening is ... the ultimate
mark
of Respect. Listening is ... the
heart and soul of Engagement. Listening is ...
the heart and soul of Kindness. Listening is ...
the heart and soul of Thoughtfulness. Listening
is ... the basis for true Collaboration. Listening
is ... the basis for true Partnership. Listening
is ... a Team Sport. Listening is ... a
Developable Individual Skill. (Though women
are far better at it
than men.) Listening is ... the basis for
Community. Listening is ... the bedrock of Joint
Ventures that work. Listening is ... the bedrock
of Joint Ventures that grow. Listening is ... the
core of effective Cross-functional
Communication (Which is in turn
Attribute 1 of
organization effectiveness.) cont.
12
Listening is ... the engine of superior
EXECUTION. Listening is ... the key to making the
Sale. Listening is ... the key to Keeping the
Customers Business. Listening is ...
Service. Listening is ... the engine of Network
development. Listening is ... the engine of
Network maintenance. Listening is ... the engine
of Network expansion. Listening is ... Social
Networkings secret weapon. Listening is ...
Learning. Listening is ... the sine qua non of
Renewal. Listening is ... the sine qua non of
Creativity. Listening is ... the sine qua non of
Innovation. Listening is ... the core of taking
diverse opinions aboard. Listening is ...
Strategy. Listening is ... Source 1 of
Value-added. Listening is ... Differentiator
1. Listening is ... Profitable. (The R.O.I.
from listening is higher than
from any other single
activity.) Listening is the bedrock which
underpins a Commitment to
EXCELLENCE!
13
If you agree with the above, shouldnt listening
be ... a Core Value? If you agree with the above,
shouldnt listening be ... perhaps Core Value
1? (We are Effective Listenerswe treat
Listening EXCELLENCE as the Centerpiece of our
Commitment to Respect and Engagement and
Community and Growth.) If you agree, shouldnt
listening be ... a Core Competence? If you agree,
shouldnt listening be ... Core Competence 1? If
you agree, shouldnt listening be ... an explicit
agenda item at every Meeting? If you agree,
shouldnt listening be ... our Strategyper se?
(Listening Strategy.) If you agree, shouldnt
listening be ... the 1 skill we look for in
Hiring (for every job)?
14
Suggested addition to your statement of Core
Values We are Effective Listenerswe treat
Listening EXCELLENCE as the Centerpiece of our
Commitment to Respect and Engagement and
Community and Growth.
15
Listen Profession Study practice
evaluation Enterprise value
16
Everyone has a story to tell, if only you have
the patience to wait for it and not get in the
way of it. Charles McCarry, Christophers Ghosts
17
Its amazing how this seemingly small thing
simply paying fierce attention to another, really
asking, really listening, even during a brief
conversationcan evoke such a wholehearted
response. Susan Scott, Fierce Conversations
Achieving Success at Work and in Life, One
Conversation at a Time
18
Let Silence Do the Heavy Lifting chapter
title from Susan Scott, Fierce Conversations
Achieving Success at Work and in Life, One
Conversation at a Time
19
Really First Things Before First Things
20
If the regimental commander lost most of his 2nd
lieutenants and 1st lieutenants and captains and
majors, it would be a tragedy. If he lost his
sergeants it would be a catastrophe. The Army and
the Navy are fully aware that success on the
battlefield is dependent to an extraordinary
degree on its Sergeants and Chief Petty Officers.
Does industry have the same awareness?
21
Really First Things Before First Things
22
XFX 1 Cross-Functional eXcellence
23
XF lunches Measure! Monthly! Part of
evaluation! The PAs Club.
24
Formal evaluations. Everyone, starting with the
receptionist, should have a significant XFX
rating component in their evaluation. (The XFX
Performance should be among the Top 3 items in
all managers evaluations.)
25
Success doesnt depend on the number of people
you know it depends on the number of people you
know in high places!or Success doesnt
depend on the number of people you know it
depends on the number of people you know in low
places!
26
Loser Hes such a suck-up!Winner
Hes such a suck-down.
27
George Crile (Charlie Wilsons War) on Gust
Avarkotos strategy He had become something
of a legend with these people who manned the
underbelly of the Agency CIA.
28
I got to know his Icahns secretaries. They
are always the keepers of everything. Dick
Parsons, then CEO Time Warner, on dealing with
an Icahn threat to his companyParsons is not a
visionary. He is, instead, a master in the art of
relationship. Bloomberg BusinessWeek (03.11)
29
S ƒ(DR -2L, -3L, -4L, IE) Success is a
function of Number and depth of relationships 2,
3, and 4 levels down inside and outside the
organization S ƒ(SDgtSU) Sucking down is more
important than sucking upthe idea is to have the
your entire organization working for you S
ƒ(non-FF, non-FL) Number of friends, number of
lunches with people not in my function S
ƒ(XFL/m) Number of lunches with colleagues in
other functions per month S ƒ(FF) Number of
friends in the finance organization
30
Case
31
William Mayo, 1910, on the Clinics Two Core
Values Patient-centered care Team medicine
(medicine as a co-operative science) Source
Leonard Berry Kent Seltman, Orchestrating the
Clues of Quality, Chapter 7 from Management
Lessons From Mayo Clinic
32
I am hundreds of times better here than in
my prior hospital assignment because of the
support system. Its like you are working in an
organism you are not a single cell when you are
out there practicing. quote from Dr. Nina
Schwenk, in Chapter 3, Practicing Team
Medicine, from Leonard Berry Kent Seltman,
from Management Lessons From Mayo Clinic
33
Really First Things Before First Things
34
If I could have chosen not to tackle the IBM
culture head-on, I probably wouldnt have. My
bias coming in was toward strategy, analysis and
measurement. In comparison, changing the attitude
and behaviors of hundreds of thousands of people
is very, very hard. Yet I came to see in my
time at IBM that culture isnt just one aspect of
the game it is the game. Lou Gerstner, Who
Says Elephants Cant Dance
35
IT IS THE GAME.
36
Systems Have Their Place SECOND
Place Case 1/United States Air Force Tactical
Air Command/ GEN Bill Creech/Drive bys Case
2/Milliken Company/CEO Roger Milliken/the
45-minute grilling Case 3/Johns Hopkins/Dr.
Peter Pronovost/The (real) roots of checklist
power Case 4/Commerce Bank/CEO Vernon Hill/The
RED button commitment Case 5/Veterans
Administration/Abrogating the culture of
hiding Case 6/Mayo Clinic/Dr. William
Mayo/Teamwork makes me 100 times better Case
7/IBM/CEO Lou Gerstner flummoxed by ingrained
beliefs Case 8/Germanys Mittelstand/excellence-i
n-the-genes Case 9/Department of Defense/DASD
Bob Stone/tracking down the extant Model
Installation superstars Case 10/Matthew
Kelly/Housekeepers dreams Case
11/Toyota/Growth or bust
37
Really First Things Before First Things
38
Meetings 1 Every meeting that does not stir
the imagination and curiosity of attendees and
increase bonding and co-operation and engagement
and sense of worth and motivate rapid action and
enhance enthusiasm is a permanently lost
opportunity.
39
Excellence! Tom Peters/16 August
2013 Institute of Internal Auditors/Orlando (slide
s _at_ tompeters.com/excellencenow.com)
40
1.
41
(No Transcript)
42
Hard is Soft. Soft is Hard.
43
Hard numbers, plans is Soft. Soft
people/relationships is Hard.
44
Why in the World did you go to Siberia?
45
Enterprise (at its best) An emotional, vital,
innovative, joyful, creative, entrepreneurial
endeavor that elicits maximum
concerted human
potential in the
wholehearted pursuit of EXCELLENCE in service
of others.Employees, Customers, Suppliers,
Communities, Owners, Temporary partners
46
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
47
Breakthrough 82 People! Customers! Action!
Values! In Search of Excellence
48
The notion that corporate law requires
directors, executives, and employees to maximize
shareholder wealth simply isnt true. There is no
solid legal support for the claim that directors
and executives in U.S. public corporations have
an enforceable legal duty to maximize shareholder
wealth. The idea is fable. Lynn Stout,
professor of corporate and business law, Cornell
Law school, in The Shareholder Value Myth How
Putting Shareholders First Harms Investors,
Corporations, and the Public
49
Courts uniformly refuse to actually impose
sanctions on directors or executives for failing
to pursue one purpose over another. In
particular, courts refuse to hold directors of
public corporations legally accountable for
failing to maximize shareholder wealth. Lynn
Stout, professor of corporate and business law,
Cornell Law school, in The Shareholder Value
Myth How Putting Shareholders First Harms
Investors, Corporations, and the Public
50
a corporation can be formed to conduct or
promote any lawful business or purpose from
Delaware corporate code (no mandate for
shareholder primacy), per Lynn Stout, professor
of corporate and business law, Cornell Law
school, in The Shareholder Value Myth How
Putting Shareholders First Harms Investors,
Corporations, and the Public
51
On the face of it, shareholder value is the
dumbest idea in the world. Shareholder value is a
result, not a strategy. Your main
constituencies are your employees, your
customers and your products. Jack Welch, FT,
0313.09, page 1
52
2.
53
1/4,096 excellencenow.com Business has to give
people enriching, rewarding lives or it's
simply not worth doing. Richard Branson
54
Oath of Office Managers/Servant
Leaders Our goal is to serve our customers
brilliantly and profitably over the long
haul. Serving our customers brilliantly and
profitably over the long haul is a product of
brilliantly serving, over the long haul, the
people who serve the customer. Hence, our job as
leadersthe alpha and the omega and everything
in betweenis abetting the sustained growth and
success and engagement and enthusiasm and
commitment to Excellence of those, one at a
time, who directly or indirectly serve the
ultimate customer. Weleaders of every
stripeare in the Human Growth and
Development and Success and Aspiration to
Excellence business. We leaders only grow
when they each and every one of our
colleagues are growing. We leaders only
succeed when they each and every one of our
colleagues are succeeding. We leaders
only energetically march toward Excellence when
they each and every one of our colleagues
are energetically marching toward
Excellence. Period.
55
"If you want staff to give great service, give
great service to staff." Ari Weinzweig,
Zingerman's
56
Promotion Decisionslife and death
decisionsSource Peter Drucker, The Practice
of Management
57
Development can help great people be even
betterbut if I had a dollar to spend, Id spend
70 cents getting the right person in the door.
Paul Russell, Director, Leadership and
Development, Google
58
In short, hiring is the most important aspect
of business and yet remains woefully
misunderstood. Source Wall Street Journal,
10.29.08, review of Who The A Method for
Hiring, Geoff Smart and Randy Street
59
In the Army, 3-star generals worry about
training. In most businesses, it's a ho hum
mid-level staff function.
60
The Memories That Matter.
61
The Memories
That Matter The people you developed who went on
to stellar accomplishments inside or outside
the company. The (no more than) two or three
people you developed who went on to create
stellar institutions of their own. The long shots
(people with a certain something) you bet on
who surprised themselvesand your peers. The
people of all stripes who 2/5/10/20 years
later say You made a difference in my life,
Your belief in me changed everything. The sort
of/character of people you hired in general. (And
the bad apples you chucked out despite some
stellar traits.) A handful of projects (a half
dozen at most) you doggedly pursued that
still make you smile and which fundamentally
changed the way things are done inside or
outside the company/industry. The supercharged
camaraderie of a handful of Great Teams aiming
to change the world.
62
3.
63
Lesson47 WTTMSW
64
WHOEVER TRIES THE MOST STUFF WINS
65
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
66
FAIL. FORWARD. FAST.High Tech CEO,
Pennsylvania
67
In Search of Excellence /1982 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
68
4.
69
LITTLE BIG
70
Big carts 1.5X Source WalMart
71
Bag sizes New markets B Source
PepsiCo
72
Glaring Eyes -62 Source PLOS ONE (via The
Atlantic CITIES /0429.13)
73
5.
74
You will become like the five people you
associate with the mostthis can be either a
blessing or a curse. Billy Cox
75
The Hang Out Axiom WE ARE WHAT WE EAT/WE ARE
THE COMPANY WE KEEP
76
The We are what we eat/ We are who we hang
out with Axiom At its core, every (!!!)
relationship-partnership decision (employee,
vendor, customer, etc., etc.) is a strategic
decision about Innovate, Yes or No
77
Whos the most interesting person youve met in
the last 90 days? How do I get in touch with
them? Fred Smith
78
25
79
MBWAManaging By Wandering Around/HP
80
6.
81
Predictive Analytics The Power to Predict Who
Will Click, Buy, Lie, or Die Eric Siegel
82
Big Data A Revolution That Will Transform How
We Live, Work, and Think Viktor
Mayer-Schonberger and Kenneth Cukier
83
Automate This How Algorithms Came to Rule Our
World Christopher Steiner
84
The Filter Bubble How the New, Personalized
Web Is Changing What We Read and How We Think
Eli Pariser
85
Robot Futures Illah Reza Nourbakhsh,
Professor of Robotics, Carnegie Mellon
86
Race AGAINST The Machine How the Digital
Revolution Is Accelerating Innovation, Driving
Productivity, and Irreversibly Transforming
Employment and the Economy Erik Brynjolfsson and
Andrew McAfee
87
Legal industry/Pattern Recognition/Discovery
(e-discovery algorithms) 500 lawyers to
ONE Source Race AGAINST the Machine, Erik
Brynjolfsson and Andrew McAfee
88
The root of our problem is not that were in a
Great Recession or a Great Stagnation, but
rather that we are in the early throes of a
Great Restructuring. Our technologies are racing
ahead, but our skills and organizations are
lagging behind. Source Race AGAINST the
Machine, Erik Brynjolfsson and Andrew McAfee
89
400,000/-2,000,000new computing
technologies that destroy middle-class
white-collar jobs even as they create jobs for
highly skilled workers who can exploit
themManufacturing jobs added USA
2007-2012White-collar jobs lost USA
2007-2012Source Financial Times, page 1,
0402.13 (Clerical Staff Bears Brunt of US Jobs
Crisis)
90
breakage of the historic link between value
creation and job creation The median worker is
losing the race against the machine./ Great
Recession lack of hiring rather than increase
in layoffs Source Race AGAINST the Machine,
Erik Brynjolfsson and Andrew McAfee
91
Algorithms have already written symphonies as
moving as those composed by Beethoven, picked
through legalese with the deftness of a senior
law partner, diagnosed patients with more
accuracy than a doctor, written news articles
with the smooth hand of a seasoned reporter, and
driven vehicles on urban highways with far better
control than a human driver. Christopher
Steiner, Automate This How Algorithms Came to
Rule Our World
92
The audience then voted on the identity of
each composition. Music theory professor and
contest organizer Larsons pride took a ding
when his piece was fingered as that belonging to
the computer. When the crowd decided that
algorithm Emmys piece was the true product of
the late musician Bach, Larson winced.
Christopher Steiner, Automate This How
Algorithms Came to Rule Our World There were
three Bach/Larson/Emmy-the-algorithm.
93
Human level capability has not turned out to be
a special stopping point from an engineering
perspective. . Source Illah Reza
Nourbakhsh, Professor of Robotics, Carnegie
Mellon, Robot Futures
94
Michael Vassar/MetaMed founder is creating a
better information system and new class of people
to manage it. Almost all healthcare people get
is going to be donehopefullyby algorithms
within a decade or two. We used to rely on
doctors to be experts, and weve crowded them
into being something like factory workers, where
their job is to see one patient every 8 to 11
minutes and implement a by-the-book solution. Im
talking about creating a new expert
professionmedical quants, almost like hedgefund
managers, who could do the high-level analytical
work of directing all the information that flows
into the worlds hard drives. Doctors would now
be aided by Vassars new information experts who
would be aided by advanced artificial
intelligence.New York /0624.13
95
Doctors struggle to keep up with a vast and
growing body of research, much of which is wrong.
The result is that patients have a 50-50 chance
of getting the right treatment, and the
healthcare system itself has become a leading
cause of premature death, by some reports ranking
just behind cancer and heart disease. Doctors are
ill-equipped to analyze failed methodology, much
less to apply what good data there is to the
needs of individual clients. MetaMed will fill
that gap. MetaMed co-founder Michael Vasser says,
People dont normally hire domain experts in
epistemology. It turns out that those skills are
useful. Source New York /0624.13/on MetaMed
96
A score produced by any predictive model must be
taken with a very special grain of salt. Scores
speak to trends and probabilities across a large
group one individual probability by its nature
oversimplifies the real-world thing it describes.
If I miss a single credit-card payment, the
probability Ill miss another this year may
quadruple, based on that factor alone. But if you
also take into account that my roof caved in that
month, your view will change. Eric Siegel,
Predictive Analytics The Power to Predict Who
Will Click, Buy, Lie, or Die
97
Aviva, a large insurance firm, has studied the
idea of using credit reports and
consumer-marketing data as proxies for the
analysis of blood and urine samples for certain
applicants. The intent is to identify those who
may be at higher risk of illnesses like high
blood pressure, diabetes, or depression. The
method uses lifestyle data that includes hundreds
of variables such as hobbies, the websites people
visit, and the amount of television they watch,
as well as estimates of their income. Avivas
predictive model, developed by Deloitte
Consulting, was considered successful at
identifying health risks. Source Big Data A
Revolution That Will Transform How We Live, Work,
and Think, by Viktor Mayer-Schonberger and
Kenneth Cukier
98
Flash forward to dystopia. You work in a chic
cubicle, sucking chicken-flavor sustenance from
a tube. Youre furiously maneuvering with a
joystick Your boss stops by and gives you a
look. We need to talk about your loyalty to this
company. The organization you work for has
deduced that you are considering quitting. It
predicts your plans and intentions, possibly
before you have even conceived them. Eric
Siegel, Predictive Analytics The Power to
Predict Who Will Click, Buy, Lie, or Die (based
on a real case, an HP Flight risk PA model
developed by HR, with astronomical savings
potential)
99
These HP pioneers may not realize just how big
a shift this practice is from a cultural
standpoint. The computer is doing more than
obeying the usual mechanical orders to retain
facts and figures. Its producing new information
thats so powerful, it must be handled with a new
kind of care. Were in a new world in which
systems not onlydivine new, important
information, but must carefully manage it as
well. Eric Siegel, Predictive Analytics The
Power to Predict Who Will Click, Buy, Lie, or Die
(based on a real case, an HP Flight risk PA
model developed by HR, with astronomical savings
potential)
100
1-800-FLOWERS improved its ability to detect
fraud by considering the social connections
between prospective perpetrators. Eric Siegel,
Predictive Analytics The Power to Predict Who
Will Click, Buy, Lie, or Die
101
7.
102
14,00020,00030
103
14,000/eBay20,000/Amazon30/Craigslist
104
Dov Frohman The 50 Rule Dov Frohman
Daydream!
105
8.
106
I am often asked by would-be entrepreneurs
seeking escape from life within huge corporate
structures, How do I build a small firm for
myself? The answer seems obvious Source
Paul Ormerod, Why Most Things Fail Evolution,
Extinction and Economics
107
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
108
Mr. Foster and his McKinsey colleagues collected
detailed performance data stretching back 40
years for 1,000 U.S. companies. They found that
NONE of the long-term survivors managed to
outperform the market. Worse, the longer
companies had been in the database, the worse
they did. Financial Times
109
MITTELSTAND agile creatures darting
between the legs of the multinational monsters
(Bloomberg BusinessWeek, 10.10) E.g. Goldmann
Produktion
110
THE RED CARPET STORE (Joel Resnick/Flemington NJ)
111
Basement Systems Inc.
112
Motueka, New Zealand Coppins Sea
Anchors PSA/Para-sea anchors Source Kia
Ora/Air New Zealand magazine
113
Retail Superstars Inside the 25 Best Independent
Stores in America by George Whalin
114
Jungle Jims International Market, Fairfield,
Ohio An adventure in shoppertainment, as
Jungle Jims calls it, begins in the parking lot
and goes on to 1,600 cheeses and, yes, 1,400
varieties of hot sauce not to mention 12,000
wines priced from 8 to 8,000 a bottle all this
is brought to you by 4,000 vendors. Customers
come from every corner of the globe. Bronners
Christmas Wonderland, Frankenmuth, Michigan, pop
5,000 98,000-square-foot shop features the
likes of 6,000 Christmas ornaments, 50,000 trims,
and anything else you can name if it pertains to
Christmas. Source George Whalin, Retail
Superstars
115
Be the best. Its the only market thats not
crowded. From Retail Superstars Inside the 25
Best Independent Stores in America, George Whalin
116
9.
117
EXCELLENCE is not an "aspiration. EXCELLENCE
is THE NEXT FIVE MINUTES.
118
Or not.
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