Sam Walton instilled ownership of the products in the stores into the collective consciousness of every associate regardless of what job they did for the company.

The key to competing and surviving against Wal-Mart is to focus your business into a niche or pocket where you can leverage your strengths in the local marketplace.

Wal-Mart hires average people but squeezes above average performance and results out of them.

Empowering people turns Wal-Mart's culture into a competitive advantage.

When you compete with Wal-Mart, even if you think you've found a niche don't ever become complacent.

Sam Walton's values are: treat the customer right, take care of your people, be honest in your dealings, pass savings along to the customer, keep things simple, think small, control costs and continuously improve operations.

The key to Operations at Wal-Mart is their ability to maintain the highest standards while at the same time getting things done with lockstep execution.