The Wal-Mart Way

October 6, 2008 | By | In Management

I have just posted a review of The Wal-Mart Way by Don Soderquist, the former C.O.O. and Vice-Chairman of Wal-Mart. This is the inside story of the success of the world’s largest company.

Reviewing this book wasn’t easy, there were so many lessons and points that were very useful. Don Soderquist goes into details on their commitment to hardwork, integrity, the company’s core values, excellence in execution and their focus on the customer. You find yourself comparing your company’s culture against Wal-Mart’s.

Many companies are already doing what Wal-Mart does, it’s a matter of degrees. Wal-Mart places unrelenting focus on what they do. The point is, you won’t get this kind of commitment from your people unless the management absolutely commits to the vision and lead the charge.

I have always admired the way they do business, and I see a lot of similarities from my previous company. We built the company from a turnover of $10 million to almost $200 million. We didn’t get there by doing things half-heartedly, nor do you achieve any degree of success without commitment. The company I was with was sold to the largest retailer in Malaysia, and is now part of an organization with international businesses.

I have read many positive and negative reports on Wal-Mart. But their success is undisputed and they are the largest retailer in the world today. As a retailer, you have to study The Wal-Mart Way. You will find a lot helpful tips, many of which you are already using. However, to achieve superiority in your field, the commitment to excellence (an overused word I know) and the focus on execution has to be unrelenting. You cannot have everyday low price without everyday low cost in your operations.

Read it and let me know what you think. The Wal-Mart Way review is here.

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