What I Learned From Sam Walton: How to Compete and Thrive in a Wal-Mart World (英語) ハードカバー – 2004/8/20
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Praise for WHAT I LEARNED FROM SAM WALTON
"Michael Bergdahl's book presents unique insights into the staggering international success of Wal-Mart. Throughout the pages of this book, you can almost hear Sam Walton himself coaching and inspiring his legion of employees to greatness."
-Tracy Mullin, President and CEO, National Retail Federation
"Retailers, non-retailers, manufacturers, and suppliers will enjoy Bergdahl's insights into Wal-Mart's service culture and its leadership icon, Sam Walton."
-Roger J. Dow, Senior Vice President Global and Field SalesMarriott International, Inc.
Bergdahl outlines his competitive strategy with the acronym P.O.C.K.E.T.S.
P-Price: Don't try to compete on price; differentiate your product selection.
O-Operations: Break the retail "ready, shoot, aim" tactical orientation bydeveloping an actual strategy to compete.
C-Culture: Build a can-do culture with a strong sense of urgency. Communicate your values and beliefs over and over again to your employees.
K-Key Item Promotion/Product: Determine who you are and uniformly communicate your brand message to your entire team.
E-Expenses: Become obsessed about controlling costs.
T-Talent: Recruit constantly and hire people who have both experience and high potential.
S-Service: Never take your customer for granted. Empower your employees to make decisions involving customer concerns.
MICHAEL BERGDAHL has over twenty-five years of business experience working in a variety of business environments with outstanding business leaders. He has worked for three Fortune 500 companies and has been involved in two successful business turnarounds. His experiences in the restaurant, publishing, petrochemical, consumer packaged goods, discount retailing, specialty retailing, and waste industries provide the foundation for his interest in and knowledge of this topic. His years of retailing experience with companies like Frito-Lay, Wal-Mart, and American Eagle Outfitters provided the "business laboratory" for him to fine tune his understanding of business competition. His knowledge of Wal-Mart comes from firsthand experiences working at their home officewith Mr. Sam himself.
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Personally i do not have any ties to retailing business, however i was curious about Sam Walton.
This book gives you valuable insights about the industry and Sam' s personal qualities (which i liked the best and purchased the book for, his frugality, hardworkingness and so on, mainly concentrated at chapter 5: cost control tactics)
It is easy to understand.. Overall it is a good read and worth it.
Time and again the words leapt off the pages at me, a steady reminder of how often I heard those same phrases directly from Mr. Sam's lips. It was so unusual, yet very refreshing, to read a book from someone who truly understand the inner workings of Wal-Mart.
This is a riveting book about Walmart's management strategies but also a comprehensive to do list of how to compete with Walmart... what they cannot do and how you can carve out a niche and complement the store.
The chapters are well organized and end with a 2-page checklist summary. Very helpful.
I prefer my nearby smaller grocery store (quiet, plays classical music), but next time I visit a Walmart, I'll have a fresh appreciation for what they do differently.
I have been in awe of every single strategy implemented and of course this is no surprise. They have executed every aspect of their business flawlessly.
Michael goes through Walmart's POCKETS:
Key Item/ Product Strategy
Expense Control Strategy
He discusses each strategy with relative depth and explains Walmart's competivite advantage in its execution. Overall a very informative book, I definitely recommend it for people going against Walmart or anyone trying to understand Walmart's success.
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