Walmart CEO Doug McMillon says he’s well aware that “retailers come and go.”
Walmart is constantly evolving to avoid dying off, as plenty of other retailers have, according to the company’s chief executive officer.
“Walmart is not arrogant,” CEO Doug McMillon said at CNBC’s Evolve Summit in Los Angeles on Tuesday morning. “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.”
According to Porter there are three main strategies that you can use to get an edge on your competition.
Porter's Generic Strategies are so called because they can be useful to you no matter what industry you work in, what products or services you sell, or whether you are a small or large organization. According to Porter there are three main strategies that you can use to get an edge on your competition. These are: Cost Leadership, Differentiation and Focus. To learn more about each of these strategies and how you can apply them in your organization take a look at our video.