Wal-mart fails in one market (a minor victory?)
The August 5th edition of The Economist also has an article about the failure of Wal-Mart to succeed in the German market. I laughed at this part:
“Wal-mart went on to get nearly everything wrong in what the Bremen boffins called “a textbook case of how not to enter a foreign market.
The first error was to appoint a boss for Germany who spoke no German. Not only that, he insisted that his managers work in English. The next boss, an Englishman, tried to run the show from England.”
I read with a smug satisfaction that lack of research and “the American way” doesn’t work all the time — kudos to the Germans.