Sunday, August 31, 2008

Book Review - The 10 Rules of Sam Walton

I realize I haven't posted in a while, it's been busy, so here's the new post.
The truth is I never finished this book. I got about 2/3 of the way through before I got bored. The ten rules outlined in the book do make sense, and each of them could be expanded into a great chapter.
Rule 1: Commit to your business.
Rule 2: Share your profits with all your associates, and treat them as partners.
Rule 3: Motivate your partners.
Rule 4: Communicate everything you possibly can to your partners.
Rule 5: Appreciate everything your associates do for the business.
Rule 6: Celebrate your success.
Rule 7: Listen to everyone in your company and figure out ways to get them talking.
Rule 8: Exceed your customer's expectations.
Rule 9: Control your expenses better than your competition.
Rule 10: Swim upstream.
However, Michael Bergdahl seems to repeat himself over and over again. His main point to me seemed to be that Sam Walton was a people person. We can see by the success of Wal-Mart and the quality of its employees that Sam Walton knew how to get people excited and invlolved in the company. Otherwise, there are a few interesting items, and some short inspiring stories. This book was more focused on promoting Sam Walton and Wal-Mart, as it didn't really include any flaws, rather than focus on rules for business success that can be universally applied.

Next Book: The Starbucks Experience



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