Excellent firms don’t believe in excellence - only in constant improvement and constant change.

Peters is warning against treating “excellence” as a fixed destination or a self-congratulatory label. In his view, organizations that truly outperform do so by assuming that today’s best practices will soon be obsolete; they institutionalize experimentation, learning, and adaptation rather than defending a reputation. The line also critiques complacency: once a firm believes it has “achieved excellence,” it may stop questioning assumptions, listening to customers, or redesigning processes. “Constant improvement and constant change” frames excellence as a moving target—an ongoing discipline of renewal—especially in competitive, fast-shifting markets where stability can become a liability.