Word: marteli
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...Mart is an exception because it focuses on management instead of technology. It shares just about every piece of market data it collects—we’re talking petabytes here—with its suppliers, which has proven so vital for the consumer products industry that Proctor & Gamble, makers of everything from Charmin to Crisco to Cover Girl, have an office employing more than 200 people in Wal-Mart’s small-town Arkansas headquarters. Its logistics and distribution system is smart enough to know which ethnicities of Barbie sell better in which stores. It pioneered...
...Gates and the preternaturally genius investor Warren Buffett occupied the top spots. What is most striking, however, is that five of the ten richest people in the world have the same last name: Walton. They are the widow and four children of the late Sam Walton, founder of Wal-Mart, who if alive today would be the richest man in the world. His fortune, now divided among his heirs, totals about $100 billion, or almost double that of Bill Gates. Admittedly, Gates has given away billions in recent years, but Walton’s accomplishment is nevertheless staggering...
...writing about Wal-Mart today because, counterintuitively, Wal-Mart is the business story of the last decade. The Internet was important, but the dot-coms were clearly overhyped and the truly innovative uses of the Internet are yet to be invented. Instead, it is Wal-Mart—prosaic, big, boxy, uncool, rural Wal-Mart from Bentonville, Arkansas—that has changed the way business is done in America. McKinsey, the same company that a lot of my senior classmates will be working for next year, recently released a study detailing just how important Wal-Mart is. Their findings...
...America, and it knows more about its products and its prices too, allowing it to undersell all its competitors. It invests in technology but only buys the software and hardware that will improve productivity, preferring to let other companies jump on faddish technology bandwagons. Case in point: Wal-Mart waited longer than just about every retailer in the country to launch its website, thereby avoiding millions of dollars in losses in a fruitless attempt to compete for miniscule sales. It’s no wonder that some of the best run companies in retailing, from Amazon.com to Costco, got where...
...dolls might not be endcapped at Toys "R" Us and eight-year-olds might not be throwing tantrums in the middle of a Wal-Mart aisle demanding a Lamdog toy. Yet, that's exactly the point: Lau has managed to imbue the humble action figure with kool-kid kachet. A grownup who collects G.I. Joes is a bit of a loser while a twentysomething with a full Crazychildren set is, you know, way datable. The artist is coy about his yearly earnings, but reiterates that fun, not money, gets him off. Many of his figures?like Maxx...