“Walmart is one the few retail businesses consistently MAKING MONEY because they adopt to the changing economy. “
not really, they just opened more stores. Walmart failed miserably in South Korea and Germany.
” Walmart doesn’t hire UNION workers and gives consumers VALUE for LESS money.”
They give you less value for less money in many cases. A pair of pants or a drill at Walmart are not of the same quality as those in many other stores.
“This article is a crock of anti-capitalistic propaganda.”
Really, I thought part of capitalism was analyzing markets and trends and adjusting to them. Where do you see the anti-capitalism?
I have no idea how South Korea and Germany fared with a Walmart. I doubt that you do either if you can take a loon that wrote this article seriously.
Walmart doesn’t hire UNION workers and gives consumers VALUE for LESS money.
“They give you less value for less money in many cases. A pair of pants or a drill at Walmart are not of the same quality as those in many other stores.”
You can buy name brands at Walmart. Perhaps you are not a knowledgeable shopped when it comes to price and quality? Others also don't see it that way since Walmart’s REVENUE is UP and others are DOWN.
“This article is a crock of anti-capitalistic propaganda.”
Really, I thought part of capitalism was analyzing markets and trends and adjusting to them. Where do you see the anti-capitalism?
not really, they just opened more stores. Walmart failed miserably in South Korea and Germany."
Hilarious. Wal Mart netted $13,400,000,000 last year. 75% of the stores opened in 2009 were international stores and 600 new stores abroad are slated in to 2010. As second world countries with billions of people slowly become capitalist societies, Wal Mart will be far ahead of the curve, there to provide goods faster and at a lower cost, while providing obscene profits for their shareholders.
Wal Mart is like a 10% tax cut for every American.
Here is a diagnosis by Dr. Kye-Chung Song, a Korean B-school professor:
Ineffective people management, Song said, contributed to Wal-Mart's downfall in Korea. First of all, most of the Korean department stores have centralized locations downtown in areas easily accessible by subway. Wal-Mart has built facilities in remote locations. It is just not convenient. Wal-Mart's grocery shelves stock frozen fish rather than the fresh fish preferred for the Asian diet. The store's design was not altered to accommodate the average Korean's height; therefore, the shelves and displays are higher than in the other stores.Also, the brick and tile interior does not provide any sense of wealth or status, important points of Korean culture. Song explained that most of Korea's people are affluent enough to be able to pay higher prices than what Wal-Mart advertises. As a result, a low price equals low quality association exists. For them, Wal-Mart is a step down in quality.
According to Song, a big part of Wal-Mart's problems started with the fact that the corporate headquarters are in the U.S.A., and there was a lack of communication between them and the Korean division.
Maybe if they'd hired smart Koreans to run the new division and trusted them with full authority to bend the rules and adapt the model, they would have been successful.