I particularly like the last one, which was Mr. Control your expenses better than your competition.Appreciate everything your associates do for the business.Communicate everything you possibly can to your partners.Share your profits with your associates.1 on the Fortune 500 and the Fortune Global 500. Regular readers of this newsletter know I focus frequently on how leadership has changed in the past few decades. But I was struck by founder Sam Walton’s 10 rules of business, posted on the museum wall, which still seem to strike all the right chords. Much of the credit for Bentonville’s renaissance, of course, goes to the Walton family, which has invested heavily in the town, including building a world-class museum-Crystal Bridges-that I visited Friday afternoon.īut I started Friday at the Walmart Museum, which is a tribute to one of the greatest miracles of modern business-a scrappy five–and–dime store in Northwest Arkansas that somehow managed to become No. I read a review copy and found it compelling. Who needs Silicon Valley?) I was in Bentonville, Ark., last week for the first time in 15 years and was surprised to find what a lively little town it has become. No wonder my colleague Jessica Mathews, who writes Fortune’s Term Sheet newsletter, chose to make it her home during the pandemic, or that Steve Case-former AOL CEO turned champion of small-town startups-celebrates it as one of the nation’s heartland reinvention stories in his book The Rise of the Rest.
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