Will Wal Mart always be on top of the retail world? Chances are they will still be at the end of this week…at least in my family (and most likely yours), but will they be forever?
I remember in my undergraduate studies a professor of marketing say that no one could ever replace Sears as the number one retailer. Of course, looking back, that was a naïve comment. It’s easy to assume that Wal Mart will continue their dominance of the retail world, but recently, due to the economy, they have experienced greater competition from the discounters and the higher end retailers. What will their future be? Still not certain they could ever be in jeopardy, consider THIS ARTICLE I read this week.
I am not trying to be a doomsayer for Wal Mart. We do our share of business there. I think, however, that remembering history and changes in the retail industry should remind all of us that things change…sometimes quickly…or at least it seems that way when we finally recognize the change. None of us in successful organizations should take that success for granted.
If your organization is achieving success today, what are you doing to make sure that growth continues?
Read more about Innovation, Change, and Sustainability.
Greatings,
Es la felicidad!
Bottomless
I heard a pod cast by Andy Stanley where he stated Wal-Marts strength was constant change in plans. He said "plans change but vision remains the same." The problem with sucess (which they have experienced in the last decade) is that it tends to blur the vision and the goal. The old saying "if it ain't broke don't fix it," has been to the detriment of many a successful corporation.
I believe Wal-Mart can come out of this slump, but it will take a visionary and an open mind by the board to bring them out of the slump. A 1% decline doesn't seem like it would be a big slump but if you're not you're not growing (or you are maintaining) you are dying. Wal-mart just needs a new aproach to accomplish their goal of cutting back prices for their consumers.
Wal-mart or the Church, the principle remains the same. We can't be satisfied with success, there will always be more consumers who need lower prices and there will always be un-churched people who need hope and joy.
I think you are right Mason. The key is recognizing this and doing something about it. Thanks for bringing the church into the discussion. I always hope when I throw something out there church leaders are picking up on how it applies to them also.
I do most of my weekly shopping at Wal Mart because it's really my only choice in my small town. If I lived in a bigger city, I'd probably shop at different stores. (I can remember when Sears and Penneys were at the top of the retail world–I loved their catalogs and spent many hours looking through them.) However, change is the name of the game, so businesses need to be ready to flex. Our Wal Mart is undergoing the major remodel at the same time the main road to the store is being transformed. So, customers will face a mess getting there and a mess shopping there. Life should be interesting.
I miss the Sears Wish Book. We enjoyed that every Christmas. I even remember the smell when it first arrived.