What I Learned from Sam Walton (Hardcover)
How to Compete and Thrive in a Wal-Mart World
John Wiley & Sons, 9780471679981, 237pp.
Publication Date: August 20, 2004
Other Editions of This Title:
"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.