“I have always been driven to buck the system, to innovate, to take things beyond where they've been.”
One of the problems in the statement that Sam Walton said above, is that after something like that is repeated enough, it becomes more sloganeering than it does a reality. Walton didn't have that problem; it was all real to him.
Now the reason why things like innovation and "going beyond where things are" is so important, is it lifts you above your competitors in a way that they are forever 
playing catchup, even when they know what it is you're doing. It happens with a lot of industry leaders.
How long ago did Walton take some of the steps that he did, and to this day nobody has even been able to come close to catching Wal-Mart (WMT).
Walton had a lot of people fooled, even though it wasn't his intention, and the underestimated him all along the way, right up to the time his stores surrounded their markets. When they finally understood what was happening, it was too late.
We can't simply take phrases like "bucking the system" or the word "innovation," and think by saying them that we've done it. Knowing what to do isn't even the biggest thing in the process. Everybody knows what it is that Wal-Mart does to make it such a great company, and they aren't able to duplicate it, no matter how long and hard they've tried. It drove K-Mart to bankruptcy court.
All of this has to have one important element to make it work: execution! Those that know what to do, but don't or won't or can't execute it, have nothing but the satisfaction in knowing what to do, but the frustration of not being able to make it practical in the business.
Execution trumps everything else. Sure you must start with the knowledge of what to do, but those that figure out the best way of executing in will win in the end. Walton has taught us that years after he saw and executed what had to be done to accomplish his vision for Wal-Mart.
Even with that knowledge, their competitors can't execute that knowledge. Those that see and can execute will be those that succeed. It's as simple as that.
Other Walton Sources:
The Most Underrated CEO Ever The legendary Sam Walton
Sam Walton: The Power of Persistence
Sam Walton Business Quotes for Ya
Remember to Sign up for my feed, bizzbite and digg this!
Sponsored link: The outsourcing every manager requires - Tampa Locksmith
Comment Preview