General Electric won plenty of negotiations with Wal-Mart (IIPM Editorial)

General Electric won plenty of negotiations with Wal-Mart, and lost a few. But losing had its upside. It forced GE to look inside itself to see how it could do its job better – to lower its manufacturing costs, for instance, or to be more flexible in how a product was designed or packaged. Ultimately, prices stayed low and the customer won. And that is what drives Wal-Mart – keeping its customers satisfied – and that’s why it keeps increasing its sales and profits. Yes, there will be “casualties” because of Wal-Mart’s success. Some competitors will certainly fold to its business model, and some jobs will be lost in the process. But in that way, Wal-Mart is no different from Toyota in the automotive industry.


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Source: IIPM, Business&Economy