CHAPTER ONE
Rethinking Networks
Strategy is becoming, to an increasing extent, the art of managing assets that one does not own.
For many years, Kmart and Wal-Mart reigned as the flagships of the U.S. retail industry, with little to distinguish them in the eyes of most consumers and practitioners but matters of style. But Kmart filed for Chapter 11 protection in January 2002, whereas Wal-Mart continues to thrive as the most successful retailer of all time. Colorful and sinister theories accounting for Wal-Mart’s spectacular success abound: Accounts have mentioned everything from predatory pricing to employee culture and from Sam Walton’s overalls to his knack for identifying productive store locations. However, an examination of Wal-Mart’s ...
