Doug McMillon, the CEO of Walmart, has tasked himself with updating the ethos and business model of a half-century-old retail behemoth. To do this, he has sought to change the mindset of Walmart executives, encouraging them to experiment with fresh, bold ideas, even if they fail.
In an effort to digitise the company and make it a formidable force in a tech-driven marketplace, he is also funding major technology initiatives. These are mostly focused on accelerating e-commerce development, with the goal of personalizing services and achieving same-day delivery.
Managing cultural and technological change is a difficult task, and McMillon claims that while managers know how to solve 80% of problems, they must be ready to “listen, to find the other 20%.”
As part of the desire to invest in learning, Walmart is subsidising business degrees for workers, to develop their talent pool and ensure long-term growth.
This follows the principles of the ‘Retain’ module of the Business Waterwheel™ and is something we admire and recommend.
To show our appreciation for McMillon’s evolutionary work, we bring you 5 of his top quotes!
“We could go away at any minute. I think most of us act that way every day.
If you’re not willing to fail — and we are failing at some things — you’re going to go away.”
“As a leader during transformation, you have to be out in front — show that you want to learn, be curious, introduce new ideas, ask questions.”
“Looking ahead, we will compete with technology, but win with people.
We will be people-led and tech-empowered.”
“We’re changing. We’re adapting. We continue to transform.”
“First, we will be a customer-driven company.
We’ve always said the customer is our boss and we’ll make decisions based on how we can serve them better.”
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Robbie Duncanson and the Pendleton team!
