LONG Tom Peters’ Re-Imagine EXCELLENCE ! Dental Trade Alliance/ Annual Meeting 2013

1. LONG Tom Peters’ Re-ImagineEXCELLENCE! Dental Trade Alliance/Annual Meeting 2013 Ponte Vedra/17 October 2013 (slides at tompeters.com; also see excellencenow.com)

2. 1,000,000

3. 500:1

4. “The combination of new market rules and new technology was turning the stock market into, in effect,awarof robots.”—Michael Lewis, “Goldman’s Geek Tragedy,” Vanity Fair, 09.13

5. “[Michael Vassar/MetaMed founder] is creating a better information system and new class of people to manage it. ‘Almost all health care people get is going to be done—hopefully—by algorithms within a decade or two. We used to rely on doctors to be experts, and we’ve 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. I’m talking about creating a new expert profession’—medical quants, almost like hedgefund managers, who could do the high-level analytical work of directing all the information that flows into the world’s hard drives. Doctors would now be aided by Vassar’s new information experts who would be aided by advanced artificial intelligence.”—New York /0624.13

6. “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 seasonedreporter, and driven vehicles on urban highways with far better control than a human driver.” —Christopher Steiner,Automate This: How Algorithms Came to Rule the World

7. “The root of our problem is not that we’re 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

8. “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

9. GeneticsRoboticsInformaticsNanotechnology

10. REALLY First Things Before First Things

11. REALLY First Things Before First Things: Conrad Hilton

12. CONRAD HILTON, at a gala celebrating his career, was called to the podium and asked,“What were the most important lessons you learned in your long and distinguished career?”His answer …

13. “Remember to tuck the shower curtain inside the bathtub.”

14. “EXECUTION ISSTRATEGY.”—Fred Malek

15. REALLY First Things Before First Things: The Army Knows!

16. 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?

17. “People leave managers not companies.”—Dave Wheeler

18. REALLY First Things Before First Things: “C-level”?!

19. In the Army, 3-star generals worry about training. In most businesses, it's a “ho hum” mid-level staff function.

20. I would hazard a guess that most CEOs see IT investments as a “strategic necessity,” but see training expenses as “a necessary evil.”

21. REALLY First Things Before First Things: Hiring

22. “development can help great people be even better— but if I had a dollar to spend, I’d spend70 centsgetting the right person in the door.”—Paul Russell, Director, Leadership and Development, Google

23. REALLY First Things Before First Things:53 = 53

24. People are NOT“Standardized.” Their evaluations should NOTbe standardized. EVER.

25. EVALUATING PEOPLE = #1 DIFFERENTIATORSource: Jack Welch/Jeff Immelt on GE’s #1 strategic skill (!!!!)

26. REALLY First Things Before First Things: Strengths > Weaknesses

27. “A man should never be promoted to a managerial position if his vision focuses on people’s weaknessesrather than on their strengths.”—Peter Drucker,The Practice of Management

28. REALLY First Things Before First Things: Self-evaluation

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

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

31. "Everyone thinks of changing the world, but no one thinks of changing himself" - Leo Tolstoy

32. REALLY First Things Before First Things: Hiring

33. “Development can help great people be even BETTER—BUT IF I HAD A DOLLAR TO SPEND, I’D SPEND 70 CENTS GETTING THE RIGHT PERSON IN THE DOOR.”—Paul Russell, Director, Leadership and Development, Google

34. REALLY First Things Before First Things: Questionable Judgment Skills

35. Clinical versus Statistical Prediction“There is now [1996] a meta-analysis of studies of the comparative efficacy of clinical judgment and actuarial prediction methods. … Of 136 research studies from a wide variety of predictive domains, not more than 5 percent show the clinician’s predictive procedure to be more accurate than a statistical one.”Source: Paul Meehl, Clinical versus Statistical Prediction, quoted in Daniel Kahneman, Thinking, Fast and Slow

36. REALLY First Things Before First Things: #1 Failing

37. “If I had to pick one failing of CEOs, it’s that they don’t read enough.”—Co-founder of one of the largest investment services firms in the USA/world

38. REALLY First Things Before First Things: #1

40. REALLY First Things Before First Things:We Are What We Eat: The “Fred Smith Question”

41. “Who’s the most interesting person you’ve met in the last 90 days? How do I get in touch with them?”—Fred Smith

42. REALLY First Things Before First Things: XFX =#1

43. XFX = #1* *Cross-Functional eXcellence

44. NEVER WASTE A LUNCH!

45. % XF lunches* *Measure! Monthly! Part of evaluation! [The PAs Club.]

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

47. REALLY First Things Before First Things: “We”

48. Observed closely: The use of“I”or“we”during a job interview. Source: Leonard Berry & Kent Seltman, chapter 6, “Hiring for Values,” Management Lessons From Mayo Clinic

49. “I am hundreds of times better here[than in my prior hospital assignment] because of the support system. It’s like you were 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

50. Every week every swimmer reports on how he helped a teammate Source: Skip Kenney, Stanford men’s swimming coach, 31 consecutive PAC10 championships, 7 NCAA championships