Lessons from Sam Walton and Walmart: Focus on Competition's Strengths

One of the great playbook lessons from Sam Walton and the Walmart story is to focus on the strengths of the competition. Charlie Cate, the manager of the first Walmart store, recalls a quote from Sam where he emphasizes the importance of checking the competition and looking for the good ideas they have. Walton believed that if they could incorporate just one good idea into their company, it would be a valuable improvement. Rather than being concerned with what the competition was doing wrong, Walmart focused on what they were doing right.

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