Wal-Mart tuning up is globalization approach

FRONT PAGE: "After Early Errors, Wal-Mart Thinks Locally to Act Globally," by Miguel Bustillo, Wall Street Journal, 14 August 2009.

Key charts:

1) growth in sales 04-09: US up about 50%, but international up around 110%.

2) store counts: 4,258 in US and 3,615 in world.

Here's the CK Prahalad, bottom-of-the-pyramid bit:

Having powered its way to the top in U.S. retailing, Wal-Mart Stores Inc. has struggled to extend its dominance across the globe.

But the world's largest retailer is learning that the most successful ideas don't necessarily flow from its headquarters in Bentonville, Ark. That has it tailoring inventories and stores to local tastes--and exporting ideas and products pioneered outside the U.S.

Great stuff.