I loved this part:
Quote:
CAVUTO: All right. Was it because you recognized that slowdown that you started offering bonuses anywhere from $500 to $1,000 or more for workers in response to this slowing economy?
SCOTT: No, no. We had a -- last year we underwent a massive amount of change, had an impact on our long-term associates. As the year went on, it became evident that the changes that we had made were having a positive benefit for the company, that the people who lead the Wal-Mart Stores U.S. Group stepped back in and said, you know what? This has worked. We are going to give some of those dollars back to our associates.
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One of the ten characteristics of economics, people resond to incentives. Since Wal-Mart bonuses revolve around store performance/loss prevention, Scott saw this as an opportunity to encourage associates to sell more to get that higher profit-share bonus....and with higher quantity of sales, ultimately prices are going to go down, people are going to shop more during the period of economic recession.
04-05-2007, 12:19 AM
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