The Wal-Mart Effect - How the World's Most Powerful Company Really Works -- and How It's Transforming the American Economy
1. Who Knew Shopping Was So Important?
2. Sam Walton's Ten-Pound Bass
3. Makin Bacon, a Wal-Mart Fairy Tale
4. The Squeeze
5. The Man Who Said No to Wal-Mart
6. What Do We Actually Know About Wal-Mart?
7. Salmon, Shirts, and the Meaning of Low Prices
8. The Power of Pennies
9. Wal-Mart and the Decent Society
There were a few nuggets that I was able to glean from the book, as follows:
Pennies matter - as a small business owner I know that a penny saved is a penny earned. I hate wasting money on non-essential items; Wal-Mart built its empire on this fundamental tenet.
Never be satisfied - the moment a business owner becomes content with his or her business is the day they let the competition take over and steal business away.
Enforce accountability - Management is held to stringent goals and being off by even the smallest margin
is considered unacceptable
Work-life balance is up to you, not your employer - Fishman talks about mandatory Saturday sales meetings and recounts stories by Wal-Mart management of how they've given their all for the company at the
expense of family. There's nothing admirable about sacrificing your family and friends for any job; take control of your own work-life balance destiny.
All-in-all, not a bad read. Some good nuggets as well as a reminder of how we need to not let what we do professionally take over and consume our lives as professionals.