“The Wal-Mart Way”

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    “The Wal-Mart Way”

AGENDA

Strategies of the World’s Largest Company
Tools You Can Use to Compete & Thrive©

A Master Class presented by Michael Bergdahl
International Speaker / Author / Wal-Mart Competition Authority

Picking Wal-Mart’s P.O.C.K.E.T.S. - The 7 Strategies of “The Wal-Mart Way”

Based on his first book, What I learned from Sam Walton, Michael Bergdahl will discuss “The Wal-Mart Way” through a discussion of the 7 key strategies of Wal-Mart. Bergdahl will follow the acronym, “POCKETS” which stands for Price, Operations, Culture, Key Item Promotion, Expenses, Talent and Service. He will explain the key to each of Wal-Mart’s Strategies and its Best Practices that have made it the World’s Largest Company. He will discuss Strategies that audience members can take from “The Wal-Mart Way” to make their businesses 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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