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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 is an amazing success story. What I particularly admire very much about the late Sam Walton was his policy of valuing his employees. Giving value to employees is very rare in the retail industry. I also admire the strategies Walton used to build up his discount store concept.

Walmart is an amazing story of entrepreneurship and, as one of the world's most powerful brands, touches millions of lives every day.

But they are also better, our competitors are better because Wal-Mart exists.

At Wal-Mart, it goes back to Sam Walton and the foundation and business model that we simply operate for less, or everyday low cost. We're known for operating in a very efficient way and then giving those savings to customers.

Each Wal-Mart store should reflect the values of its customers and support the vision they hold for their community.

People have to follow their hearts, and if their hearts lead them to Wal-Mart, so be it.

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

Walmart isn't your average mom-and-pop operation. It's the largest employer in America. As such, it's the trendsetter for millions of other employers of low-wage workers.