“The Wal-Mart Way”

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    “The Wal-Mart Way”


Mental Codes—The Power of Change Seminar©
A Master Class presented by Dr. Michael J. Duckett
Social Scientist, Radio/Television Host, Author/ International Speaker

The Mental Codes—The Power of Change Seminar

Based on some of his 133 books and programs and scientific discoveries, “The Mental Codes—Overcoming Thoughts that Keep You Stuck in Life,” Dr. Duckett will discuss practical steps to change a person’s mind and behavior that will produce greater success and results. Dr. Duckett will reveal amazingly simple, but profound ways to increase happiness and success by changing your thoughts and habits. He will discuss strategies that audience members can utilize to change the way they’ve been doing things to make their businesses and careers even more successful.

8:00 am Registration
8:30 am Welcome and Introduction of Michael Bergdahl
P.O.C.K.E.T.S. Agenda
  • Definition/Explanation of POCKETS Niche Strategy
  • The Seven Strategies of Wal-Mart – The World’s Largest Company
  • Global Expansion Plans
  • Media Scrutiny of the Most Admired Company 2003 & 2004
Price Strategy
  How did Wal-Mart turn its pricing strategy into such a powerful competitive advantage?
  • Sam Walton’s Discounting Principle - Appeal of Low Prices around the world
  • Every Day Low Prices
  • Price Rollbacks
  • Special Buy Merchandise
  • Predatory Pricing
  • Low price strategy driven by high volume inventory turnover
  • Manufacturing in China & Asia critical to low price profitability
  • Shopping Cart Comparisons
  • Wal-Mart passes expense savings along to the customer via lower prices
  • Pricing Tools for You
Operations Strategy
  What makes Wal-Mart’s store operations so unique?
  • Big Facts behind the Wal-Mart Success Story
  • The History of Wal-Mart
  • Global Presence
  • Types/Number of Stores and Distribution Centers
  • Supply Chain Driven Company, in-stock, RFID
  • Technology / Cross Docking / Spoke and Hub Distribution / No Traditional Warehouses
  • Benchmarking Best Practices
  • Operational Excellence Standards - High expectations are the key to everything
  • Continuous Learning / Continuous Improvement / Flow Charting Processes
  • Operations Tools for You
10:00 am Morning Break
10:30 am “The Wal-Mart Way” – 7 Strategies of the World’s Largest Company Continued
Culture Strategy
  How did Sam Walton turn Wal-Mart’s employees into a key ingredient of the company’s success?
  • Profit Sharing is the fuel that drives the Wal-Mart engine
  • Sam Walton was a servant leader
  • Golden Rule Values
  • The Sam Walton Way is The Wal-Mart Way
  • Sam Walton’s 3 Values
  • Entrepreneurial Spirit / Work Ethic
  • Empowering people by pushing decision making downward
  • Embraced Change / Risk-taking
  • Reinforce company standards using folklore and storytelling
  • Culture Tools for You
Class Exercise
Questions & Answers
12:00 pm Lunch
13:00 pm “The Wal-Mart Way” – 7 Strategies of the World’s Largest Company Continued:
Key Item Promotion / Product Strategy
  What is the secret to Sam Walton’s strategy for selecting products for Wal-Mart’s stores
  • Everyone is a merchant regardless of job function
  • Volume Producing Item program to reinforce merchant skills
  • Execution of product promotions
  • Outside / in approach to selecting products and services
  • Vendor Partnerships – Vendorville
  • 3 types of Wal-Mart Suppliers - negotiating to supply Wal-Mart
  • Automated Replenishment – just-in-time Inventory
  • Store Wars – Wal-Mart battles retailers horizontally and suppliers vertically
  • Innovation versus imitation
  • Key Item Promotion / Product Tools for You
Expense Strategy
  How important is expense control to Wal-Mart’s overall strategy?
  • Wal-Mart Low Profitability Model
  • Low prices are a result of constantly reducing costs – passing savings along to customers
  • Suppliers are pressured to improve their efficiency and lower costs
  • Management accountability - Sales / Payroll / Shrinkage
  • Culturally engrained expense control teaches employees to monitor expenditures
  • At Wal-Mart as sales volume rises expense as a percentage continuously falls
  • Each day work schedules are adjusted to reflect sales volume shortfalls
  • Wal-Mart’s executives lead expense control by their own example
  • Customer greeters are at every front door to greet and monitor theft
  • Expense Tools for You
14:30 pm Afternoon Break
15:00 pm “The Wal-Mart Way” – 7 Strategies of the World’s Largest Company Continued:
Talent Strategy
  How does Wal-Mart get 2 million employees to execute its aggressive strategies?
  • Setting aggressive goals with input from the entire team
  • Hire for attitude and teach the necessary skills
  • Performance Discrepancy – Dealing with non-performers
  • Promotion from Within before people are ready
  • Cross-functional movement of people
  • Average people and above average performance
  • Typical store staffing model
  • Staffing Diversity
  • 11 Core Leadership Competencies
  • Talent Tools for You
Service Strategy
  What is the importance of customers and customers service according to Sam Walton?
  • The customer is the boss
  • One stop shopping – replicate the “High Street” under one roof
  • One agenda – the customer
  • Drop everything to serve customers
  • 10 foot rule / Sundown Rule
  • Internal customer service / External customer service
  • Customer segmentation strategy
  • Saturday Morning Meetings / Wal-Mart Cheer
  • Service Desk in the front of store – 100% product guarantee / Wal-Mart museum
  • Service Tools for You
16:45 pm Q & A. Informal Reception, photo session, Book Signing, interviews.

For more information on this Master Class please contact us.

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Outside Thailand +66-2-2700-984-5

Outside Thailand +66-2-2700-986

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