hello everyone thank you for having me Thank You TEDx and thank you Carson City
Thank You TEDx and thank you Carson City
Thank You TEDx and thank you Carson City for the opportunity to talk today it’s
for the opportunity to talk today it’s
for the opportunity to talk today it’s it’s it’s it’s very appropriate as my
it’s it’s it’s very appropriate as my
it’s it’s it’s very appropriate as my talk centers around capitalism and the
talk centers around capitalism and the
talk centers around capitalism and the theme of the talk is the Agora and the
theme of the talk is the Agora and the
theme of the talk is the Agora and the Agora or the Agora marketplace in those
Agora or the Agora marketplace in those
Agora or the Agora marketplace in those times was the community center where
times was the community center where
times was the community center where people shared ideas they shared products
people shared ideas they shared products
people shared ideas they shared products they transacted for goods and services
they transacted for goods and services
they transacted for goods and services even back then if you had a space in the
even back then if you had a space in the
even back then if you had a space in the marketplace and you were selling pears
marketplace and you were selling pears
marketplace and you were selling pears and they were rotten you weren’t going
and they were rotten you weren’t going
and they were rotten you weren’t going to sustain that space in the market and
to sustain that space in the market and
to sustain that space in the market and you weren’t going to continue with the
you weren’t going to continue with the
you weren’t going to continue with the quality product and that certainly is
quality product and that certainly is
quality product and that certainly is true today in a much bigger community in
true today in a much bigger community in
true today in a much bigger community in a much bigger marketplace I’m really
a much bigger marketplace I’m really
a much bigger marketplace I’m really here to talk today about transformation
here to talk today about transformation
here to talk today about transformation certainly my own personal transformation
certainly my own personal transformation
certainly my own personal transformation from a mild-mannered accountant to
from a mild-mannered accountant to
from a mild-mannered accountant to something much less mild-mannered maybe
something much less mild-mannered maybe
something much less mild-mannered maybe an industrialist a systemic manager a
an industrialist a systemic manager a
an industrialist a systemic manager a systemic thinker but eat but even more
systemic thinker but eat but even more
systemic thinker but eat but even more so much more so on the transformation of
so much more so on the transformation of
so much more so on the transformation of business and industry on the
business and industry on the
business and industry on the transformation of how we operate
transformation of how we operate
transformation of how we operate cooperate and inter depend much more
cooperate and inter depend much more
cooperate and inter depend much more systemically much more scientifically I
systemically much more scientifically I
systemically much more scientifically I actually started my career despite those
actually started my career despite those
actually started my career despite those good introducing words without very much
good introducing words without very much
good introducing words without very much guidance I seem to always be just pulled
guidance I seem to always be just pulled
guidance I seem to always be just pulled to the most difficult or largest
to the most difficult or largest
to the most difficult or largest challenge frankly sometimes I was just
challenge frankly sometimes I was just
challenge frankly sometimes I was just taking opportunities that no one else
taking opportunities that no one else
taking opportunities that no one else would you know those jobs that you
would you know those jobs that you
would you know those jobs that you wouldn’t touch with a ten-foot pole I
wouldn’t touch with a ten-foot pole I
wouldn’t touch with a ten-foot pole I somewhat always had you know like an
somewhat always had you know like an
somewhat always had you know like an 11-foot pole you know sitting in my
11-foot pole you know sitting in my
11-foot pole you know sitting in my closet and my first experience was was
closet and my first experience was was
closet and my first experience was was to be hired to come and work for a
to be hired to come and work for a
to be hired to come and work for a global icon ik industrial company the
global icon ik industrial company the
global icon ik industrial company the company had an over hundred year history
company had an over hundred year history
company had an over hundred year history where they invented innovated and
where they invented innovated and
where they invented innovated and created life-changing
created life-changing
created life-changing products they actually invented the
products they actually invented the
products they actually invented the first carbon arc lighting technology it
first carbon arc lighting technology it
first carbon arc lighting technology it was a carbon in graphite material
was a carbon in graphite material
was a carbon in graphite material science company they created this carbon
science company they created this carbon
science company they created this carbon arc lighting technology that enabled the
arc lighting technology that enabled the
arc lighting technology that enabled the first streetlights in Cleveland Ohio
first streetlights in Cleveland Ohio
first streetlights in Cleveland Ohio so I guess before that you know we were
so I guess before that you know we were
so I guess before that you know we were in the dark the first outdoor
in the dark the first outdoor
in the dark the first outdoor streetlights in Cleveland Ohio they even
streetlights in Cleveland Ohio they even
streetlights in Cleveland Ohio they even won an Oscar in Hollywood using a
won an Oscar in Hollywood using a
won an Oscar in Hollywood using a variation of that lighting technology to
variation of that lighting technology to
variation of that lighting technology to create color in motion pictures the
create color in motion pictures the
create color in motion pictures the whole color vision spectravision they
whole color vision spectravision they
whole color vision spectravision they won an Oscar and and more recently they
won an Oscar and and more recently they
won an Oscar and and more recently they created a graphite electrode product
created a graphite electrode product
created a graphite electrode product that enabled an entirely different way
that enabled an entirely different way
that enabled an entirely different way of making steel in an electric arc steel
of making steel in an electric arc steel
of making steel in an electric arc steel furnace which is actually the largest
furnace which is actually the largest
furnace which is actually the largest industrial recycling chain in the world
industrial recycling chain in the world
industrial recycling chain in the world so this company was amazing but in the
so this company was amazing but in the
so this company was amazing but in the late 90s a private equity firm from Wall
late 90s a private equity firm from Wall
late 90s a private equity firm from Wall Street came in and they bought the
Street came in and they bought the
Street came in and they bought the company by investing 200 million dollars
company by investing 200 million dollars
company by investing 200 million dollars within a year they sold out and left
within a year they sold out and left
within a year they sold out and left with a billion dollars these guys were
with a billion dollars these guys were
with a billion dollars these guys were heroes
heroes
heroes these guys were rock stars these guys
these guys were rock stars these guys
these guys were rock stars these guys were the kings of Wall Street but they
were the kings of Wall Street but they
were the kings of Wall Street but they left tragic destruction in their wake
left tragic destruction in their wake
left tragic destruction in their wake the company was burdened with 800
the company was burdened with 800
the company was burdened with 800 million dollars of debt worse eighty
million dollars of debt worse eighty
million dollars of debt worse eighty million dollars of annual interest
million dollars of annual interest
million dollars of annual interest expense this is a company that invested
expense this is a company that invested
expense this is a company that invested over ten million a year in technology
over ten million a year in technology
over ten million a year in technology science innovation R&D they couldn’t
science innovation R&D they couldn’t
science innovation R&D they couldn’t handle the weight of that debt their
handle the weight of that debt their
handle the weight of that debt their knees were buckling what did they do
knees were buckling what did they do
knees were buckling what did they do they hired an army of accountants and so
they hired an army of accountants and so
they hired an army of accountants and so the accountants come in they cut cost
the accountants come in they cut cost
the accountants come in they cut cost they started first guess where R&D then
they started first guess where R&D then
they started first guess where R&D then they went to marketing then they went to
they went to marketing then they went to
they went to marketing then they went to engineering and sales but it was not
engineering and sales but it was not
engineering and sales but it was not sufficient the company was insolvent and
sufficient the company was insolvent and
sufficient the company was insolvent and it was about to be bankrupt
so then they hired me another accountant
so then they hired me another accountant brilliant move but they got lucky
brilliant move but they got lucky
brilliant move but they got lucky because I really never wanted to be an
because I really never wanted to be an
because I really never wanted to be an accountant I went into the company
accountant I went into the company
accountant I went into the company trying to understand is there a
trying to understand is there a
trying to understand is there a different way to do this it is without
different way to do this it is without
different way to do this it is without question I was nowhere near qualified to
question I was nowhere near qualified to
question I was nowhere near qualified to do the job that they were hiring me for
do the job that they were hiring me for
do the job that they were hiring me for well that’s not correct to do the job
well that’s not correct to do the job
well that’s not correct to do the job that they needed to be done which was to
that they needed to be done which was to
that they needed to be done which was to transform the company and then I got
transform the company and then I got
transform the company and then I got lucky too I met my teacher and he was a
lucky too I met my teacher and he was a
lucky too I met my teacher and he was a physicist and he opened my eyes and that
physicist and he opened my eyes and that
physicist and he opened my eyes and that awakening that epiphany is what I want
awakening that epiphany is what I want
awakening that epiphany is what I want to share with you now today on how to go
to share with you now today on how to go
to share with you now today on how to go from being a troubled cost-based
from being a troubled cost-based
from being a troubled cost-based non-sustainable company to a pathway an
non-sustainable company to a pathway an
non-sustainable company to a pathway an evolution of you will if you will of how
evolution of you will if you will of how
evolution of you will if you will of how to do business and how to move forward
to do business and how to move forward
to do business and how to move forward and our our society is mired with the
and our our society is mired with the
and our our society is mired with the same poor thinking from Wall Street when
same poor thinking from Wall Street when
same poor thinking from Wall Street when you see books that are entitled
you see books that are entitled
you see books that are entitled inventing money or the big short or
inventing money or the big short or
inventing money or the big short or currency wars you know that we’ve lost
currency wars you know that we’ve lost
currency wars you know that we’ve lost our way you know that we’ve lost the
our way you know that we’ve lost the
our way you know that we’ve lost the notion of in the meaning of what these
notion of in the meaning of what these
notion of in the meaning of what these companies what these businesses what
companies what these businesses what
companies what these businesses what these systems are supposed to do we
these systems are supposed to do we
these systems are supposed to do we don’t have to change survival is not
don’t have to change survival is not
don’t have to change survival is not mandatory and capitals will not survive
mandatory and capitals will not survive
mandatory and capitals will not survive if it doesn’t transform or evolve it
if it doesn’t transform or evolve it
if it doesn’t transform or evolve it scares me because it’s not just in the
scares me because it’s not just in the
scares me because it’s not just in the business and industry level when the
business and industry level when the
business and industry level when the leader of the monetary system in the
leader of the monetary system in the
leader of the monetary system in the world the the chairman of the Federal
world the the chairman of the Federal
world the the chairman of the Federal Reserve says hey don’t worry we have a
Reserve says hey don’t worry we have a
Reserve says hey don’t worry we have a technology here in the United States
technology here in the United States
technology here in the United States called the printing press we can just
called the printing press we can just
called the printing press we can just print more money oh my gosh
print more money oh my gosh
print more money oh my gosh Einstein taught us with the law
Einstein taught us with the law
Einstein taught us with the law of thermodynamics that you cannot create
of thermodynamics that you cannot create
of thermodynamics that you cannot create something out of nothing our Bibles
something out of nothing our Bibles
something out of nothing our Bibles teach us that in every transaction in
teach us that in every transaction in
teach us that in every transaction in every action in every engagement we need
every action in every engagement we need
every action in every engagement we need to create wealth knowledge abundance we
to create wealth knowledge abundance we
to create wealth knowledge abundance we don’t it’s not ethical to create
don’t it’s not ethical to create
don’t it’s not ethical to create scarcity creating scarcity means you’re
scarcity creating scarcity means you’re
scarcity creating scarcity means you’re taking from someone or you’re taking too
taking from someone or you’re taking too
taking from someone or you’re taking too much from someone that’s what that
much from someone that’s what that
much from someone that’s what that private equity firm did to that iconic
private equity firm did to that iconic
private equity firm did to that iconic company it took that’s what the poor
company it took that’s what the poor
company it took that’s what the poor pear farmer did when he gave a spoiled
pear farmer did when he gave a spoiled
pear farmer did when he gave a spoiled fruit for money and was willing to take
fruit for money and was willing to take
fruit for money and was willing to take the money for a bad product those
the money for a bad product those
the money for a bad product those transactions are not ethical they’re
transactions are not ethical they’re
transactions are not ethical they’re legal amazingly but they’re not ethical
legal amazingly but they’re not ethical
legal amazingly but they’re not ethical it’s not unprecedented
it’s not unprecedented
it’s not unprecedented almost every civilization from Sumeria
almost every civilization from Sumeria
almost every civilization from Sumeria through most of the great ones Egyptian
through most of the great ones Egyptian
through most of the great ones Egyptian China even my homeland Rome and the
China even my homeland Rome and the
China even my homeland Rome and the Roman Empire they started with a one
Roman Empire they started with a one
Roman Empire they started with a one ounce silver coin four hundred years
ounce silver coin four hundred years
ounce silver coin four hundred years later they didn’t have a printing press
later they didn’t have a printing press
later they didn’t have a printing press but they just had a one ounce coin with
but they just had a one ounce coin with
but they just had a one ounce coin with only one hundredth of an ounce of silver
only one hundredth of an ounce of silver
only one hundredth of an ounce of silver in it and they just kept devaluing their
in it and they just kept devaluing their
in it and they just kept devaluing their currencies so the lesson is simple
currencies so the lesson is simple
currencies so the lesson is simple we’re not innovating we’re not creating
we’re not innovating we’re not creating
we’re not innovating we’re not creating but we think we can make something out
but we think we can make something out
but we think we can make something out of nothing with a printing press with
of nothing with a printing press with
of nothing with a printing press with the devaluation or debasement of
the devaluation or debasement of
the devaluation or debasement of currency this is why capitalism is not
currency this is why capitalism is not
currency this is why capitalism is not sustainable not in its current form and
that ethic that notion of never creating
that ethic that notion of never creating scarcity exists in the Torah exists in
scarcity exists in the Torah exists in
scarcity exists in the Torah exists in the Bible exists in the Quran in all of
the Bible exists in the Quran in all of
the Bible exists in the Quran in all of our spiritual writings the ethics are
our spiritual writings the ethics are
our spiritual writings the ethics are there do not create something out of
there do not create something out of
there do not create something out of nothing but do not create scarcity so
nothing but do not create scarcity so
nothing but do not create scarcity so there’s a new way there’s a new road
there’s a new way there’s a new road
there’s a new way there’s a new road there is great thinking that came
there is great thinking that came
there is great thinking that came primarily in my opinion two men dr.
primarily in my opinion two men dr.
primarily in my opinion two men dr. Deming and dr. Goldratt and some of
Deming and dr. Goldratt and some of
Deming and dr. Goldratt and some of their writings show us that there is a
their writings show us that there is a
their writings show us that there is a different way to operate there is a new
different way to operate there is a new
different way to operate there is a new way to think about the economy there is
way to think about the economy there is
way to think about the economy there is a way out of the crisis and so do we
a way out of the crisis and so do we
a way out of the crisis and so do we want to be short-term do we want to be
want to be short-term do we want to be
want to be short-term do we want to be transactional do we want to create
transactional do we want to create
transactional do we want to create scarcity do we want to let greed I’ve
scarcity do we want to let greed I’ve
scarcity do we want to let greed I’ve heard some of these Wall Street Titans
heard some of these Wall Street Titans
heard some of these Wall Street Titans express their philosophy is soundly
express their philosophy is soundly
express their philosophy is soundly based proudly based on fear and greed or
based proudly based on fear and greed or
based proudly based on fear and greed or do we want to be courageous we want to
do we want to be courageous we want to
do we want to be courageous we want to grab that 11 foot pole do we want to
grab that 11 foot pole do we want to
grab that 11 foot pole do we want to take the long hard road to create wealth
take the long hard road to create wealth
take the long hard road to create wealth to create value to innovate to sustain a
to create value to innovate to sustain a
to create value to innovate to sustain a whole new way and a whole new way of our
whole new way and a whole new way of our
whole new way and a whole new way of our life so dr. Deming in 1950 1950 took a
life so dr. Deming in 1950 1950 took a
life so dr. Deming in 1950 1950 took a napkin and drew his view of what an
napkin and drew his view of what an
napkin and drew his view of what an enterprise should look like and it
enterprise should look like and it
enterprise should look like and it looked like a system it showed suppliers
looked like a system it showed suppliers
looked like a system it showed suppliers it showed activities and then it showed
it showed activities and then it showed
it showed activities and then it showed customers and it was all interconnected
customers and it was all interconnected
customers and it was all interconnected to this day the best Japanese companies
to this day the best Japanese companies
to this day the best Japanese companies most covet the Deming award to reflect
most covet the Deming award to reflect
most covet the Deming award to reflect quality systems
quality systems
quality systems he revolutionized quality in the world
he revolutionized quality in the world
he revolutionized quality in the world from Toyota to Ford and beyond about 30
from Toyota to Ford and beyond about 30
from Toyota to Ford and beyond about 30 years later another physicist Deming was
years later another physicist Deming was
years later another physicist Deming was an American physicist dr. Gould rat was
an American physicist dr. Gould rat was
an American physicist dr. Gould rat was an Israeli physicist and he came up with
an Israeli physicist and he came up with
an Israeli physicist and he came up with a theory as well and his theory was
a theory as well and his theory was
a theory as well and his theory was simple he said a system can only move as
simple he said a system can only move as
simple he said a system can only move as fast as its slowest part so if a system
fast as its slowest part so if a system
fast as its slowest part so if a system you know a system can only be a system
you know a system can only be a system
you know a system can only be a system if it has a goal but it can only move
if it has a goal but it can only move
if it has a goal but it can only move and generate units that goal based on
and generate units that goal based on
and generate units that goal based on its slowest part he called it constraint
its slowest part he called it constraint
its slowest part he called it constraint said wow this is great thinking my
said wow this is great thinking my
said wow this is great thinking my teacher dr. lepor I took the notions of
teacher dr. lepor I took the notions of
teacher dr. lepor I took the notions of Deming and the notion of Goldratt and
Deming and the notion of Goldratt and
Deming and the notion of Goldratt and put them together
put them together
put them together and said we can think much more
and said we can think much more
and said we can think much more systemically in our world today we can
systemically in our world today we can
systemically in our world today we can be much more innovative we could be much
be much more innovative we could be much
be much more innovative we could be much more focused towards a common goal more
more focused towards a common goal more
more focused towards a common goal more dramatically he identified ways to
dramatically he identified ways to
dramatically he identified ways to identify those conflicts that were
identify those conflicts that were
identify those conflicts that were blocking us from moving to this new
blocking us from moving to this new
blocking us from moving to this new direction he was baffled because as he
direction he was baffled because as he
direction he was baffled because as he explained what he did to people they all
explained what he did to people they all
explained what he did to people they all said this has to be right it’s too
said this has to be right it’s too
said this has to be right it’s too logical it’s too sound
logical it’s too sound
logical it’s too sound but nobody would do it and he couldn’t
but nobody would do it and he couldn’t
but nobody would do it and he couldn’t understand why and so he identified
understand why and so he identified
understand why and so he identified three monster reasons why three core
three monster reasons why three core
three monster reasons why three core embedded paradigms conflicts that we
embedded paradigms conflicts that we
embedded paradigms conflicts that we just can’t seem to get out of and I just
just can’t seem to get out of and I just
just can’t seem to get out of and I just want to tell you what they are how we
want to tell you what they are how we
want to tell you what they are how we organize ourselves how we measure
organize ourselves how we measure
organize ourselves how we measure ourselves and our notions of controlling
ourselves and our notions of controlling
ourselves and our notions of controlling it all we’re stuck in a box we’re stuck
it all we’re stuck in a box we’re stuck
it all we’re stuck in a box we’re stuck in a paradigm we’re stuck in a mental
in a paradigm we’re stuck in a mental
in a paradigm we’re stuck in a mental model we make assumptions all of those
model we make assumptions all of those
model we make assumptions all of those words are synonymous
words are synonymous
words are synonymous when when we think about these things
when when we think about these things
when when we think about these things first the organizational design the
first the organizational design the
first the organizational design the system how are we organized as a
system how are we organized as a
system how are we organized as a hierarchy do we want to be organized in
hierarchy do we want to be organized in
hierarchy do we want to be organized in a command-and-control way do we want to
a command-and-control way do we want to
a command-and-control way do we want to be siloed do we want to be functional do
be siloed do we want to be functional do
be siloed do we want to be functional do we want to design our activities that
we want to design our activities that
we want to design our activities that don’t include the other pieces of our
don’t include the other pieces of our
don’t include the other pieces of our chain our suppliers our customers and
chain our suppliers our customers and
chain our suppliers our customers and everything around it including the
everything around it including the
everything around it including the community or do we want to just be
community or do we want to just be
community or do we want to just be hierarchical really the hierarchy was
hierarchical really the hierarchy was
hierarchical really the hierarchy was almost first implemented by Moses and
almost first implemented by Moses and
almost first implemented by Moses and then perfected by the military and
then perfected by the military and
then perfected by the military and corporate America has gone nuts with it
corporate America has gone nuts with it
corporate America has gone nuts with it we we have to break the notion of
we we have to break the notion of
we we have to break the notion of function and hierarchy and become much
function and hierarchy and become much
function and hierarchy and become much more systemically organized we also have
more systemically organized we also have
more systemically organized we also have to have the right kind of people to work
to have the right kind of people to work
to have the right kind of people to work systemically you know hierarchy there’s
systemically you know hierarchy there’s
systemically you know hierarchy there’s often ego and power in steam there’s
often ego and power in steam there’s
often ego and power in steam there’s selflessness
selflessness
selflessness there’s subordination to the common goal
there’s subordination to the common goal
there’s subordination to the common goal there’s reliability and inner dependency
there’s reliability and inner dependency
there’s reliability and inner dependency to your team
to your team
to your team these are the characteristics that make
these are the characteristics that make
these are the characteristics that make a system work more interdependently more
a system work more interdependently more
a system work more interdependently more effectively shockingly when you talk to
effectively shockingly when you talk to
effectively shockingly when you talk to people about it it’s obvious or isn’t it
people about it it’s obvious or isn’t it
people about it it’s obvious or isn’t it obvious but when asked to do it it’s
obvious but when asked to do it it’s
obvious but when asked to do it it’s very very different Trust reliability
very very different Trust reliability
very very different Trust reliability camaraderie common goal then how do we
camaraderie common goal then how do we
camaraderie common goal then how do we measure it it’s remarkable to me as a
measure it it’s remarkable to me as a
measure it it’s remarkable to me as a certified accountant as a subject matter
certified accountant as a subject matter
certified accountant as a subject matter expert in generally accepted accounting
expert in generally accepted accounting
expert in generally accepted accounting principles that we understand the system
principles that we understand the system
principles that we understand the system can only move as fast or but we refuse
can only move as fast or but we refuse
can only move as fast or but we refuse to use time in any measurement dr.
to use time in any measurement dr.
to use time in any measurement dr. Goldratt is on record saying that cost
Goldratt is on record saying that cost
Goldratt is on record saying that cost accounting in GAAP accounting is the
accounting in GAAP accounting is the
accounting in GAAP accounting is the single most disruptive most destructive
single most disruptive most destructive
single most disruptive most destructive impact on productivity in our businesses
impact on productivity in our businesses
impact on productivity in our businesses today understand that every one of our
today understand that every one of our
today understand that every one of our businesses use these measurements to
businesses use these measurements to
businesses use these measurements to measure themselves it’s so indoctrinated
measure themselves it’s so indoctrinated
measure themselves it’s so indoctrinated and I shut down a plan using cost
and I shut down a plan using cost
and I shut down a plan using cost accounting conventions and I cried when
accounting conventions and I cried when
accounting conventions and I cried when I drove home because I don’t I didn’t
I drove home because I don’t I didn’t
I drove home because I don’t I didn’t feel like it was right but the numbers
feel like it was right but the numbers
feel like it was right but the numbers were telling me that it was right we’re
were telling me that it was right we’re
were telling me that it was right we’re taught a different way measured the
taught a different way measured the
taught a different way measured the speed at which things move reliably
speed at which things move reliably
speed at which things move reliably through the system and lastly because
through the system and lastly because
through the system and lastly because we’re organized hierarchically and
we’re organized hierarchically and
we’re organized hierarchically and because we use accounting conventions
because we use accounting conventions
because we use accounting conventions budgets are our controls I’ve been in
budgets are our controls I’ve been in
budgets are our controls I’ve been in companies that’s budget endlessly they
companies that’s budget endlessly they
companies that’s budget endlessly they budget for three months then as soon as
budget for three months then as soon as
budget for three months then as soon as they’re done they start budgeting again
they’re done they start budgeting again
they’re done they start budgeting again they budget budget budget do they work I
they budget budget budget do they work I
they budget budget budget do they work I don’t know but they budget dr. Deming
don’t know but they budget dr. Deming
don’t know but they budget dr. Deming showed us that this reliably write
showed us that this reliably write
showed us that this reliably write liability of a system controlling a
liability of a system controlling a
liability of a system controlling a system not with budgets but with
system not with budgets but with
system not with budgets but with statistical control will confirm to you
statistical control will confirm to you
statistical control will confirm to you that it’s 99.9% reliable and if it’s not
that it’s 99.9% reliable and if it’s not
that it’s 99.9% reliable and if it’s not you know it the minute it’s not so we go
you know it the minute it’s not so we go
you know it the minute it’s not so we go from hierarchical command and control
from hierarchical command and control
from hierarchical command and control cost accounting budget nightmare based
cost accounting budget nightmare based
cost accounting budget nightmare based worlds into a new foundation built on
worlds into a new foundation built on
worlds into a new foundation built on system and quality process and then we
system and quality process and then we
system and quality process and then we can start to envision how companies
can start to envision how companies
can start to envision how companies might change
might change
might change we start to think about how they might
we start to think about how they might
we start to think about how they might become interconnected and oh yeah let me
become interconnected and oh yeah let me
become interconnected and oh yeah let me finish my story about my first company
finish my story about my first company
finish my story about my first company we did end up cutting cost initially 200
we did end up cutting cost initially 200
we did end up cutting cost initially 200 million in the first two years but then
million in the first two years but then
million in the first two years but then we got reorganized and we learned I had
we got reorganized and we learned I had
we got reorganized and we learned I had my awakening and we reorganize ourselves
my awakening and we reorganize ourselves
my awakening and we reorganize ourselves systemically we eliminated the budgeting
systemically we eliminated the budgeting
systemically we eliminated the budgeting nightmare we grew our revenue we hired
nightmare we grew our revenue we hired
nightmare we grew our revenue we hired scientists we hired marketing managers
scientists we hired marketing managers
scientists we hired marketing managers we hired engineers we grew our revenue
we hired engineers we grew our revenue
we hired engineers we grew our revenue from 600 million to a billion we cut
from 600 million to a billion we cut
from 600 million to a billion we cut that debt from 800 million to 400
that debt from 800 million to 400
that debt from 800 million to 400 million we started to connect the system
million we started to connect the system
million we started to connect the system up with our suppliers our customers our
up with our suppliers our customers our
up with our suppliers our customers our community our trading partners and
community our trading partners and
community our trading partners and created a whole different supply chain a
created a whole different supply chain a
created a whole different supply chain a whole different view of the world more
whole different view of the world more
whole different view of the world more remarkably in the last five years so the
remarkably in the last five years so the
remarkably in the last five years so the private equity firm took one year to
private equity firm took one year to
private equity firm took one year to destroy it it took us eight years to fix
destroy it it took us eight years to fix
destroy it it took us eight years to fix it
it
it the first three were brutal in the last
the first three were brutal in the last
the first three were brutal in the last five years we filed 700 new patents we
five years we filed 700 new patents we
five years we filed 700 new patents we created two new businesses and five
created two new businesses and five
created two new businesses and five years in a row we were recipient of our
years in a row we were recipient of our
years in a row we were recipient of our d100 award the top 100 new inventions in
d100 award the top 100 new inventions in
d100 award the top 100 new inventions in the world and so with that experience we
the world and so with that experience we
the world and so with that experience we start to envision a completely different
start to envision a completely different
start to envision a completely different world and an evolution of capitalism
world and an evolution of capitalism
world and an evolution of capitalism that is sustainable thank you
that is sustainable thank you
that is sustainable thank you [Applause]
”
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