Corporate Values As a Component of Strategic Thinking

In March 2002, Fortune magazine named Wal-Mart as the largest company in the world. Now this global retailer has about more than 3,000 outlets across America, and more than 1,000 retail outlets in any types of retail store (discount stores, supermarkets, department stores) in foreign country. Wal-Mart is the first service and trade company that won a position as the world's largest companies. Wal-Mart is an example of the triumph. Sales in 1973 of approximately U.S. $ 1 billion per year. And 20 years later, the company could generate that much revenue in just one week only. Previously the company has also been cited as the "Retailer of the Century" by Discount Store News magazine, one of "The Most Admired Companies in America" by Fortune magazine, and "100 best companies to work for" by the Financial Times.

All these achievements are not created in an instant. Sam Walton, founder of Wal-Mart, has for many years apply some principles key to his shop called with 10 values of Sam Walton. When asked what makes Wal-Mart can be a huge successful business, their executives said that this company is making the values of Sam Walton as their main source of competitiveness.

The story above is an inspiration that you can bring the values of working in your shop. Just select a few key values that you want to be a priority. Here are some of key value that can be highlighted in your store:

1. Ethics

Your store operates honestly, both to customers and employees. For example, all employees of the store shall refund the excess payment to the customer, you do not sell products that have expired, not cheating in the use of weights, etc..

2. Environment

Your store will care for the environment (nature and society), because you realize that the development of your store depends on the warmth of your relationship with the environment.

These values are different from the vision and mission that can be embedded or notified verbally. These values should really be felt by all parties involved in the store, and applied consistently. Direct example and your behavior as a store owner will determine the success of the realization of these values.