When a management with a reputation for brilliance tackles a business with a reputation for bad economics, it is usually the reputation of the business that remains intact.
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I think a simple rule of business is, if you do the things that are easier first, then you can actually make a lot of progress.
The two most important things in any company do not appear in its balance sheet: its reputation and its people.
A brand for a company is like a reputation for a person. You earn reputation by trying to do hard things well.
In some circles, Walmart has this reputation of being really tough. I would say we're tough on behalf of the customer, but we always try to be fair, and if you look at the financial results of our suppliers, they've done really well, and P&G still makes more money than Walmart does after all this time, so this has worked out well for everybody, but we do keep on the pressure on behalf of the customer.
The difference between mere management and leadership is communication.
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