Wal-Smart



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Hardcover
256 pages
ISBN 9780071475167 Published Jan. 2007
McGraw-Hill
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Wal-Smart
What It Really Takes to Profit in a Wal-Mart World

Related Blog Posts
strategy + business Best Books of 2007
Posted Dec. 27, 2007 3:15 a.m. by dylan
In Uncategorized - 800 CEO Read Blog

The folks over at strategy + business have chosen what they consider the best business books of the year. There were eight categories, and each one was assigned to an expert in that field for review. Each reviewer also delivered an essay on the books chosen, and they are all good reads. The categories were Behavioral Theory, Biography, Biotech, Capitalism, The Entrepreneurs, Human Capital, Innovation, and Strategy. If you'd like to learn more about the the reviewers, or would like to read their essays, you can find all of that on their website (membership is free). Here I will just list the books chosen, putting "s+p's Top Shelf" in bold and starring the books that made our shortlist as well.

Behavioral Theory: reviewed by Howard Rheingold

Crowd of One: The Future of Individual Identity by John Henry Clippinger, PublicAffairs

*Everything Is Miscellaneous: The Power of the New Digital Disorder by David Weinberger, Times Books

The Social Atom: Why the Rich Get Richer, Cheaters Get Caught, and Your Neighbor Usually Looks Like You by Mark Buchanan, Bloomsbury USA

Biography: reviewed by James O'Toole

Andrew Carnegie by David Nasaw, Penguin Press

Andy Grove: The Life and Times of an American by Richard S. Tedlow, Portfolio

The Wizard of Menlo Park: How Thomas Alva Edison Invented the Modern World by Randall Stross, Crown

Biotech: reviewed by by Joe Flower

Intervention: Confronting the Real Risks of Genetic Engineering and Life on a Biotech Planet by Denise Caruso, Hybrid Vigor Press

Science Business: The Promise, the Reality, and the Future of Biotech by Gary P. Pisano, Harvard Business School Press

Capitalism: reviewed by Diane Coyle

Good Capitalism, Bad Capitalism, and the Economics of Growth and Prosperity by William J. Baumol, Robert E. Litan, & Carl J. Schramm, Yale University Press

*Grande Expectations: A Year in the Life of Starbucks' Stock by Karen Blumenthal, Crown Business

The Most Important Fish in the Sea by Bruce Franklin, Island Press

The New Capitalists:How Citizen Investors Are Reshaping the Corporate Agenda by Stephen Davis, Jon Lukomnik, & David Pitt-Watson, Harvard Business School Press

Prophet of Innovation: Joseph Schumpeter and Creative Destruction by Thomas K. McCraw, Belknap Press

The Entrepreneurs: reviewed by Tom Ehrenfeld

Founders at Work: Stories of Startups' Early Days by Jessica Livingston, Apress

Mommy Millionaire: How I Turned My Kitchen Table Idea into a Million Dollars, and How You Can, Too! by Kim Lavine, St. Martin's Press

*No Man's Land: What to Do When Your Company Is Too Big to Be Small but Too Small to Be Big by Doug Tatum, Portfolio

*Typo: The Last American Typesetter, or How I Made and Lost 4 Million Dollars by David Silverman, Soft Skull Press

Human Capital: reviewed by R. Gopalakrishnan

30 Reasons Employees Hate Their Managers: What Your People May Be Thinking and What You Can Do about It by Bruce L. Katcher with Adam Snyder, AMACOM

Ego Check: Why Executive Hubris Is Wrecking Companies and Careers and How to Avoid the Trap by Mathew Hayward, Kaplan Business

Five Minds for the Future by Howard Gardner, Harvard Business School Press

Hot Spots: Why Some Teams, Workplaces, and Organizations Buzz with Energy — and Others Don't by Lynda Gratton, Berrett-Koehler

The Truth about Being a Leader... and Nothing But the Truth by Karen Otazo, FT Press

Innovation: reviewed by Michael Schrage

Brilliant! Shuji Nakamura and the Revolution in Lighting Technology by Bob Johnstone, Prometheus Books

Dreaming in Code: Two Dozen Pro-grammers, Three Years, 4,732 Bugs, and One Quest for Transcendent Software by Scott Rosenberg, Crown Books

The Myths of Innovation by Scott Berkun, O'Reilly Media

Sketching User Experiences: Getting the Design Right and the Right Design by Bill Buxton, Morgan Kaufmann

Strategy: reviewed by David Newkirk

Dragons at Your Door: How Chinese Cost Innovation Is Disrupting Global Competition by Ming Zeng & Peter J. Williamson, Harvard Business School Press

Strategic Intuition: The Creative Spark in Human Achievement by William Duggan, Columbia University Press

The Strategy Paradox: Why Committing to Success Leads to Failure (and What to Do about It) by Michael E. Raynor, Doubleday

Unstoppable: Finding Hidden Assets to Renew the Core and Fuel Profitable Growth by Chris Zook, Harvard Business School Press

Wal-Smart: What It Really Takes to Profit in a Wal-Mart World by William H. Marquard, McGraw-Hill

We're big fans of the strategy + business list and the essays they include each year. Todd has written a post on the list each year dating back to 2003. If you're interested in what titles they've chosen in the past, I've linked to those posts below.

2006

2005

2004

2003




2007 Brand Autopsy Marketing Book Awards
Posted Dec. 11, 2007 4:54 a.m. by todd-sattersten
In Marketing - 800 CEO Read Blog

John over at Brandy Autopsy has announced his favorite marketing books of the year. Among them are What Were They Thinking?, Wal-Smart, and Made To Stick. He also called out our ChangeThis manifesto The Secrets of Market-Driven Leaders as the "Best Business Book That is Not A Book".

BTW, the short lists for the 800-CEO-READ Business Book Awards will be announced next Monday (December 17th).




Wal-Smart
Posted Jan. 3, 2007 10:50 a.m. by jack
In Retail - 800 CEO Read Blog

walsmart.jpgBill Marquard came to Milwaukee to visit Kate and I and we had a great lunch at the local brew pub. I have been wanting to dig into the book ever since. Finally, I have.

Wal-Smart is another Wal-Mart book but this is a little different. As he says,

"As a consulting partner at Ernst & Young, I designed Wal-Mart's first-ever strategic planning process and ran it for three and a half years in the late 1990s."
The book has all the usual amazing stats about how we all are part of the Wal-Mart world, whether we shop there or not. What sets Wal-Smart apart from other books on the topic is
"Wal-Smart is not a book about Wal-Mart. It is a book about what it really takes to profit in a Wal-Mart world: how to examine our options, how to choose the right ones, and how to win a second chance to succeed. Of course, Wal-Mart world has changed the traditional rules of the economic game. But the potential remains for all of us to raise our economic life while Wal-Mart continues to flex its economic muscle."

In the section about the DNA of Wal-Mart he talks about the practice they have of "Correction of Errors." He says:

"Correction of errors is all about identifying ways to improve customer experience, merchandise, processes, cost structure, and the company from within--before competitors beat Wal-Mart to it. The correction of errors practice carries throughout the organization. Newly opened distribution centers hold correction of errors meeting to share lessons and determine how to open the next center more efficiently. Home office leaders hold meetings to improve the loss-prevention process.

A cousin of quality management, correction of errors likely gained currency when Sam Walton read the works of twentieth-century quality guru W. Edwards Deming."

I have not finished the book and will update you as I get closer to the end.