The Wal-Mart Decade - AchieveMax® Top Ten Book Review
The Wal-Mart Decade: How a New Generation of Leaders Turned Sam Walton's Legacy into the World's #1 Company was destined for publication. It was simply a matter of when it would be written and by whom. In fact, I'm amazed that it wasn't published long before this. Wal-Mart is so much more than the smiling faces of the senior citizens who greet you with open arms at the front of the store, it's more than the bouncing Smiley Face continually reducing prices in every aisle, and it's certainly much more than a typical discount store chain headquartered in the small Arkansas town of Bentonville. Wal-Mart is the real thing. It's here to stay. It's a world-class company.
There is much to learn from this corporate giant that recently moved into the #1 spot on the Fortune 500 ahead of GM, Exxon Oil, Ford Motor, and GE. Do you think Wal-Mart simply stumbled into that coveted position? Consider this:
- Wal-Mart has revenues of $246 Billion;
- Wal-Mart has 1 million 300 thousand employees;
- Wal-Mart has mastered logistics and the supply chain;
- Wal-Mart shares its strategic vision with each and every employee;
- Wal-Mart leaders never rest on their laurels;
- Wal-Mart continually find ways to reduce costs while improving the shopping experience for its customers;
- Wal-Mart is the first company ever to head both the Fortune 500 list of American companies and that magazine's list of Most Admired Companies; and
- the Wal-Mart management team has devised and then implemented strategies for rapid but prudent growth.
The greatest strength in the Wal-Mart arsenal is the fact that their CULTURE is everything. It's hard to argue with the reality of Wal-Mart's continued performance.
I think it's important to realize that the author of this book isn't a devoted Wal-Mart fan trying to recruit additional followers for the retail giant. Robert Slater was a reporter for Time Magazine for 21 years. He is the best-selling author of Jack Welch and the GE Way and has also written acclaimed books about IBM and Cisco. He probed deeply into the Wal-Mart organization from top to bottom, from Bentonville to China and beyond. This book offers a fresh and fascinating look at this unique company-as it was and as it has become-with an immediacy and insider's feel unrivaled since Sam Walton's own memoir, Made In America.
Sam Walton set the bar high for his future leaders. He created a unique culture based on three basic beliefs:
Respect for the individual;
Service to the customers; and
Striving for excellence.
Walton was also totally committed to what he characterized as his Ten Rules of Business ... each of which is explained in detail in the book. The author allocates three of 14 chapters to "The Founder and His Legacy." He wisely devotes the remainder of his book to explaining how the new management team devised and then implemented strategies for tremendous growth.
There really have been three quite different periods of Wal-Mart's development from a Ben Franklin franchise (opened in Bentonville as the Walton 5 and 10 in March of 1951) to the global retailing giant it is today. The three periods include the Sam Walton Years until his death in 1992, the David Glass Years (1992-2000), and the Lee Scott Years (2000-Present).
For years, many people asked about Wal-Mart the same question that others asked about Southwest Airlines: "What's going to happen after HE leaves?" With all due respect to both Sam Walton and Herb Kelleher, their respective organizations have done just fine. Perhaps that is the ultimate test of leadership: a heritage which endures after the leader is either gone or much less involved. In this exceptionally informative book, Slater explains how and why such a heritage guides and inspires the entire Wal-Mart organization.
More than 100 business book reviews written by Harry K. Jones are available at www.AchieveMax.com/books/index.htm">http://www.AchieveMax.com/books/.
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www.AchieveMax.com/motivational-speaker-harry.htm">Harry K. Jones is a professional speaker and consultant for AchieveMax®, Inc., a firm specializing in custom-designed keynote presentations, seminars, and consulting services. Harry has made presentations ranging from leadership to employee retention and time management to stress management for a number of industries, including education, financial, government, healthcare, hospitality, and manufacturing. He can be reached at 800-886-2MAX or by visiting www.AchieveMax.com">http://www.AchieveMax.com.
Cressida Cowell, author and illustrator of the How to Train Your Dragon and The Wizards of Once series, as well as author of the Emily Brown picture books, has been named the new Waterstones children's laureate. The Waterstones Children's Laureate is managed by BookTrust, as the UK's largest children's reading charity, and sponsored by Waterstones.
She unveiled her new charter, stating that every child has the right to:
1. Read for the joy of it
2. Access NEW books in schools, libraries and bookshops
3. Have advice from a trained librarian or bookseller
4. Own their OWN book
5. See themselves reflected in a book
6. Be read aloud to
7. Have some choice in what they read
8. Be creative for at least 15 minutes a week
9. See an author event at least ONCE
10. Have a planet to read on
New library borrowing figures from the US show how far England is lagging behind other countries because of its facilities' falling book stocks, according to new analysis from library campaigner Tim Coates.
Using statistics from the Institute of Museums and Library Services, ex-Waterstones boss Tim Coates produced a chart showing English book loans have plummeted year-on-year since 2009/10 while American numbers remain relatively stable...
Lesley Nneka Arimah has won the 20th edition of the Caine Prize for African Writing for her short story 'Skinned'. The prize was launched in 2000, and is awarded annually to an African writer of a short story published in English. The winner receives UK£10,000 prize money, and each shortlisted writer also receives £500.
Arimah is also the author of the 2017 story collection What it Means When a Man Falls From the Sky
Publishers are holding their breath to see if President Trump's decision to postpone the imposition of 25% tariffs on $300 billion worth of goods imported from China will become permanent.
The new tariffs, which included books, were proposed this spring. But after meeting with China President Xi at the G20 conference this weekend, Trump agreed to delay any new tariffs as part of an effort to restart trade talks. In his speech, Trump said new tariffs have been delayed "for the time being."
After Angie Thomas requested that she not be tagged into negative reviews of her books on social media, she has received a torrent of abuse.
History has yet to find the book that is universally adored – or the author who enjoys reading bad reviews. While Angie Thomas has topped the charts and scooped up armloads of awards for her two young adult novels, The Hate U Give and On the Come Up, her recent request that book bloggers stop sending her their negative reviews saw her on the receiving end of a wave of vitriol....
At dozens of barbershops and laundromats across the United States, the sound of children reading aloud mingles with the buzz and snip from barbers' tools or the din of washers. Makeshift shelves and crates hold books featuring cartoon characters, stories about pigeons or the capers of superheroes.
This developing movement, supported by nonprofit groups, entrepreneurs, libraries and community fund-raising, is redefining the borders of traditional neighborhood public libraries by creating literary spaces in places where children find themselves with time on their hands.
It is bringing the book to the child, instead of the child to the book...
With concern in the library community continuing to grow over their ability to provide access to digital content, the Council of the American Library Association yesterday passed a resolution to ramp up its advocacy efforts—including taking the issue to Congress.
The "Resolution on E-Book Pricing for Libraries" was adopted and brought to the ALA Council by ASCGLA (the Association of Specialized, Government and Cooperative Library Agencies), a division of the ALA. The resolution references efforts in Canada to alert the public to the problems of licensing digital content from publishers, and proposes to create a new joint working group to more directly confront the issues in the U.S.
Amazon sells substantially more than half of the books in the United States, including new and used physical volumes as well as digital and audio formats. Amazon is also a platform for third-party sellers, a publisher, a printer, a self-publisher, a review hub, a textbook supplier and a distributor that now runs its own chain of brick-and-mortar stores.
But Amazon takes a hands-off approach to what goes on in its bookstore, never checking the authenticity, much less the quality, of what it sells. It does not oversee the sellers who have flocked to its site in any organized way.
That has resulted in a kind of lawlessness. Publishers, writers and groups such as the Authors Guild said counterfeiting of books on Amazon had surged. The company has been reactive rather than proactive in dealing with the issue, they said, often taking action only when a buyer complains. Many times, they added, there is nowhere to appeal and their only recourse is to integrate even more closely with Amazon...
Librarian of Congress Carla Hayden today announced the appointment of Joy Harjo as the nation's 23rd Poet Laureate Consultant in Poetry for 2019-2020. Harjo will take up her duties in the fall, opening the Library's annual literary season on Sept. 19 with a reading of her work in the Coolidge Auditorium.
Alan Brinkley, "one of the pre-eminent historians of his generation, with a specialty in 20th-century American political history," died June 16. He was 70. Brinkley's work "spanned the full spectrum of the last century's seminal events and influential characters, including the Great Depression and World War II, Franklin D. Roosevelt and John F. Kennedy."