During the 1980s there was a fierce debate on when Detroit’s Kmart Corporation would overtake Sears to become the largest retailer in North America. Industry analysts were betting on the fiscal quarter and year the task would be accomplished with virtually everyone feeling the discounter would someday be larger than the department store chain. However a couple of analysts thought Kmart would never be the largest retailer. They believed that honor would go to Bentonville, Ark., based Walmart. The reason, Walmart, they said, was a better run operation.
Walton believed that the common stock clerk was as important to the retailer as he was. After all, if the stock clerk did not get the merchandise on the shelf it did not matter what anyone else did. The same was true about the buyer in the home office. If the right merchandise was not purchase for the stock clerk to place on the shelf it did not matter how well he sold his company to investors as CEO.
In fiscal 1990 Kmart finally surpassed Sears in sales. But much to their dismay the same quarter saw Walmart surpass both Kmart and Sears. In a twist of fate Kmart would purchase Sears in 2005 but the combined volume of the two former retail giants was unable to regain the lead.
- Employment Diversity In Michigan , a networking group on Linked In.
- Culture Bridges are a look at the contents of the character within each of us. Information is contained on more than 20 different categories of culture.
- Cultural Faux Pas is an interesting quiz about marketing mistakes made by others.
- Culture Quizzes allow you to test your cultural IQ with fun and informative quizzes.
Top books for those in leadership
- “Life’s Leadership Lessons”: 53 anecdotal leadership lessons. Paperback, Kindle, Apple or Nook.
- “The Servant Leader”: How to build a creative team, develop great morale, and improve bottom-line performance.
- “The 21 Irrefutable Laws of Leadership”: Follow them and people will follow you.
- “The Ant and the Elephant”: Leadership for the self.
- “The New Leader's 100-Day Action Plan”: How to take charge, build your team, and get immediate results