The Wal-Mart Way
The Inside Story of the Success of the World's Largest Company
by Don Soderquist
Have you heard the story of a man who simply wanted to have his own store? He had no other
goals beyond the one store or how he would get there. Many have heard this story about
Sam Walton, founder of Wal-Mart and Sam's Club. In The Wal-Mart Way, author Don
Soderquist takes the reader through Wal-Mart's values and how one man's dream grew beyond
anyone's expectations.
The Wal-Mart Way enlightens how basic principles can provide a company's vision,
business plan, and growth. Wal-Mart started with the basic values of integrity, respect,
teamwork, communication, excellence, accountability, and trust. These values, within management
and associates, lead the direction of the company. Management brainstorms new products
or gains new vendors with these values as the backbone. Wal-Mart shows respect to their
employees by encouraging them to express their ideas, observations, and difficulties.
Do you know who came up with the idea of a "people-greeter" for Wal-Mart stores? Customer
satisfaction rose after the people-greeter made customers feel safe and welcomed. Do you
know the difference between customer satisfaction and customer service? Soderquist explains
the importance in the difference. Supplying products that customers want, and at lower
prices, helps Wal-Mart stay a sales leader. Soderquist reports that management makes a
conscience effort to stock products consistent with family values. Technology makes businesses
more efficient; Wal-Mart managers receive daily reports with action plans at the start of
their day. Wal-Mart wants to be known as a "good neighbor": contributing to local charities,
reporting missing children, implementing 'Code Adam', and respecting the environment.
Author Don Soderquist, a previous CEO of Wal-Mart, presents more than a history lesson
of Wal-Mart. He acknowledges problems in the organization while showing the trend line
of a successful business. I enjoyed The Wal-Mart Way for the little-known facts
about the company as well as its guiding vision in managing a business. Each chapter
includes questions for personal reflection and action. The Wal-Mart Way is a
wonderful book for those wanting to glean insight from Wal-Mart's management and those
who want to utilize similar strategies for their own business. |
The Book |
Nelsen Business |
April 19, 2005 |
Hardcover |
0-7852-6119-2 |
Non-fiction, business |
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Excerpt |
NOTE: |
The Reviewer |
Jennifer Akers |
Reviewed 2005 |
NOTE: |
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