The 7.18.15 post on competition addressed one manner of doing business in a competitive environment.
In most instances in business it is not either/or….it’s both. Sam Walton was a master retailer….here was his strategy: http://www.businessinsider.com/why-wal-mart-is-going-after-amazon-2015-7
According to Wal-Mart founder Sam Walton’s book, “Made in America,” the company was built almost entirely off of other retailers’ good ideas.
“Most everything I’ve done I’ve copied from someone else,” Walton writes in the book.
The Wal-Mart, Sam Walton founded, and the current Wal-Mart are completely different in culture. What I read from the article is that Sam wanted to do business better and differently. If a competitor was doing something different and it worked and was better than what Sam was doing….he copied it.
After all in refocusing our business….we took some ideas from other retailers and tweaked them to fit ours.
While, most businesses do their own thing….as well they should….they also don’t overlook a good idea.