The Secret of Wal-Mart\'s Success
What accounts for Wal-Mart\'s remarkable success? Most explanations focus on a few familiar and highly visible factors: the genius of founder Sam Walton, who inspires his employees and has molded a culture of service excellence; the \"greeters\" who welcome customers at the door; the motivational power of allowing employees to own part of the business; the strategy of \"everyday low prices\" that offers the customer a better deal and saves on merchandising and advertising costs. Economists also point to Wal-Mart\'s big stores, which offer economies of scale and a wider choice of merchandise.
But such explanations only redefine the question. Why is Wal-Mart able to justify building bigger stores? Why does Wal-Mart alone have a cost structure low enough to accommodate everyday low prices and greeters? And what has enabled the company to continue to grow far beyond the direct reach of Sam Walton\'s magnetic personality? The real secret of......
Join Now or Login to view the rest of this paper.
Approximate Word Count: 1244
Approximate Pages: 5 (260 words per double-spaced page) |