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Waking up Wal-Mart

May 25th, 2007 by Joe

I posted just a few days ago (Do your customers hate you?) on companies which pursue policies that make their profit dependant on irritating their customers (or worse).

Tonight, I watched a dvd documentary on Wal-Mart, “Wal-Mart: The High Cost of Low Price“, and it really irritated me. Over the past year or two (since this flick was filmed), Wal-Mart has really lost its mojo. Possibly jumped the shark. And the thing is, over the past few years, you could see it all happening in super sl0-mo. How can one company be so incredibly tone-deaf to the culture and its customers, never mind its workers.

I have to disclose that I own some WMT stock, so I’m not out to gut them like some are. I’m not happy with some of their practices either. I bought the stock figuring that eventually, they’re going to have to change, and it’s going to result in a much more attractive company. Being liked by customers hasn’t been a bad policy for Target, so it could do some good for the big boy from Arkansas as well.

I’m not going to harp on Wal-Mart, but I think there’s a takeaway lesson for small-fry business people– it may be possible to make money by slashing and burning your way through your customers’ lives, but a better long-term policy is to have customers and workers who feel good about you. You might have to leave a little money on the table to do so, but consider it an investment in your future.

And don’t chain the doors shut on your night shift employees, that’s just stupid.

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