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Members:
Ayesha Farooq (07179)
Saneeza Asrar (06896)
Sakina Tahir
Samara Ali
Walmart
Learn from Competitors, but Remain
Faithful to the Vision
Background
His dads words: work, work and work
Initial taste of retailing as a customer
He opened his first store in 1945
He was always ready to make radical changes to his stores
He visited other retail stores even after he had his own.
He genuinely believed that all of the best ideas came from the
bottom up, not from the top down, and particularly that all those
people who interfaced with the customer knew more about the
business and more about what we needed to do and more about
how to improve it than anyone else.
LOWEST PRICES
Customers would shop almost anywhere if the prices were
lower.
Story of second Walmart Store in Harrison
Key learnings
Never stop learningfrom competitors, customers, and your
own employees
Assume that there is something you can learn from even your
worst competitors
Consider weekend meetings with managers to get a jump on
the competition