“For every sale you miss because you're too enthusiastic, you will miss a hundred because you're not enthusiastic enough.” - Zig Ziglar (American Author)
“To open a shop is easy, to keep it open is an art”
Every retailer should be proud to open a retail outlet that satisfies some human needs. Sustaining and moving up matters with every retailer.
When it comes to intrusion of Wal-mart, We see too many pros and cons and a tension with Producers, Distributors and Retailers.
People should consider Walmart as another competing discount store. Consumers will be showing satisfaction towards this store due to their discount pricing strategy, this should be taken as a challenge by every other Retail Giant. A retailer who feels hard to survive with such competitor starts blaming. A retailer who silently works on improvising their marketing strategy succeeds.
A Retailer should find it fortunate to have Walmart in India. Its time for him to learn more from the Global Retail Giant. Every Retailer and Retail student will strive to know about the success of Walmart, The strategies used, How they gain with lower price rates. Every day will be a case study, Understanding and Analyzing.
There are few good things to talk about Walmart, Such as anti corruption-
"Walmart Stores plans to snap ties with companies that supply products to its stores if they are involved in any kind of corrupt practices, making it the first retail company to undertake such a stringent initiative in India.
Stung by the bribery scandal that surfaced recently in Mexico, the world's largest retailer has recently hired consultancy firm KPMG to conduct due diligence on hundreds of existing vendors as well as potential future suppliers to ensure that they are not involved in any unethical or illegal activity.
Bharti Walmart, the equal wholesale retailing joint venture between the US retail chain and New Delhi-based Bharti Enterprises, sources supplies from vendors ranging from multinationals such as Hindustan Unilever and Colgate Palmolive to hundreds of small and medium enterprises.
As companies in India, like in Mexico, are susceptible to pay bribes at various levels to get reams of licences required to start and operate businesses, Walmart wants to make sure they do business with only those vendors who don't indulge in such activities.
This is second such anti-corruption initiative launched by Walmart in India in recent months. Earlier, as reported by ET, the world's number one retailer mandated KPMG to educate and create awareness among the Bharti Walmart's staff about anti-corruption practices.
As an American multinational, Walmart is bound to abide by the Foreign Corrupt Practices Act (FCPA), a US law that prohibits companies registered in that country and its subsidiaries across the globe from indulging in any sort of corrupt practices.
A company spokesperson said this move was part of its "previously announced" worldwide review of its anti-corruption programme that was initiated in March 2011. "This includes developing and implementing recommendations for FCPA training, anti-corruption safeguards, and internal controls,"
(Source ET 12th June 2012)
If you think they've come in to rule, then you are a loser. Take them as your challenging competitor, you'll survive better.
“To open a shop is easy, to keep it open is an art”
Every retailer should be proud to open a retail outlet that satisfies some human needs. Sustaining and moving up matters with every retailer.
When it comes to intrusion of Wal-mart, We see too many pros and cons and a tension with Producers, Distributors and Retailers.
People should consider Walmart as another competing discount store. Consumers will be showing satisfaction towards this store due to their discount pricing strategy, this should be taken as a challenge by every other Retail Giant. A retailer who feels hard to survive with such competitor starts blaming. A retailer who silently works on improvising their marketing strategy succeeds.
A Retailer should find it fortunate to have Walmart in India. Its time for him to learn more from the Global Retail Giant. Every Retailer and Retail student will strive to know about the success of Walmart, The strategies used, How they gain with lower price rates. Every day will be a case study, Understanding and Analyzing.
There are few good things to talk about Walmart, Such as anti corruption-
"Walmart Stores plans to snap ties with companies that supply products to its stores if they are involved in any kind of corrupt practices, making it the first retail company to undertake such a stringent initiative in India.
Stung by the bribery scandal that surfaced recently in Mexico, the world's largest retailer has recently hired consultancy firm KPMG to conduct due diligence on hundreds of existing vendors as well as potential future suppliers to ensure that they are not involved in any unethical or illegal activity.
Bharti Walmart, the equal wholesale retailing joint venture between the US retail chain and New Delhi-based Bharti Enterprises, sources supplies from vendors ranging from multinationals such as Hindustan Unilever and Colgate Palmolive to hundreds of small and medium enterprises.
As companies in India, like in Mexico, are susceptible to pay bribes at various levels to get reams of licences required to start and operate businesses, Walmart wants to make sure they do business with only those vendors who don't indulge in such activities.
This is second such anti-corruption initiative launched by Walmart in India in recent months. Earlier, as reported by ET, the world's number one retailer mandated KPMG to educate and create awareness among the Bharti Walmart's staff about anti-corruption practices.
As an American multinational, Walmart is bound to abide by the Foreign Corrupt Practices Act (FCPA), a US law that prohibits companies registered in that country and its subsidiaries across the globe from indulging in any sort of corrupt practices.
A company spokesperson said this move was part of its "previously announced" worldwide review of its anti-corruption programme that was initiated in March 2011. "This includes developing and implementing recommendations for FCPA training, anti-corruption safeguards, and internal controls,"
(Source ET 12th June 2012)
If you think they've come in to rule, then you are a loser. Take them as your challenging competitor, you'll survive better.
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