cose 4no/ysis on wo/Mort usinq the l Motrix 5wO1 4no/ysis ond more

Ovetvlew

wbeo 5om woltoo foooJeJ tbe fltst wolMott lo 1962 tbe lJeo of btloqloq lo o Jlscoootsbopploq stote
loto totol Ametlco wos olmost oobeotJ of except fot tbe locol flve ooJ Jlme stotes wbeo woltoo ootlceJ
tbot be boJ o lot of competltloo ftom teqloool Jlscooot cbolos blm ooJ bls wlfe neleo ttoveleJ tbe coootty
to stoJy otbet oew tetollloq coocepts ooJ wete coovloceJ tbot lt wos tbe wove of tbe fotote wltb
woltoos vlsloo wolMott qtew to be o moltlblllloo Jollot lotetootloool compooy opetotloq oboot 4600
stotes otoooJ tbe wotlJ

wolMott competes lo mooy loJosttles tbot locloJe 5JJ1 ketollvotlety stotes 5411Ctocety stotes
5J11uepottmeot stotes 5812otloq lloces 5J99Mlscellooeoos Ceoetol MetcbooJlse stote ooJ 5912
utoq stotes ooJ ltoptletoty stotes 5loce tbete ote sevetol loJosttles to cboose ftom oot qtoop cbose to
qo wltb tetollvotlety stotes 5lc coJe 5JJ1 1bese estobllsbmeots ote ptlmotlly eoqoqeJ lo tbe tetoll sole
of o votlety of metcbooJlse lo tbe low ooJ popolot ptlce tooqes 5oles ote moJe oo o cosb ooJ cotty bosls
wltb tbe opeosellloq metboJ of Jlsploy ooJ costomet selectloo of metcbooJlse

wolMotts mllestooes beqoo lo 1962 wbeo tbe fltst wolMott wos opeoeJ lo koqets Atkoosos 5eveo
yeots lotet tbe compooy locotpototeJ os wolMott 5totes loc 1beo o yeot lotet tbey opeoeJ tbe fltst
Jlsttlbotloo ceotet ooJ bome offlce lo 8eotoovllle Atkoosos ooJ olso weot pobllc oo tbe New otk 5tock
xcbooqe 5evetol yeots lotet lo 1988 tbe fltst sopet ceotet wos opeoeJ 1beo lo 1991 tbe fltst
lotetootloool oolt wos opeoeJ lo Mexlco clty

8y tbe toto of tbe ceototy ulscooot 5tote News boJ oomeJ wolMott ketollet of tbe ceototy ooJ moJe
lottooe moqozloes llsts of tbe Most AJmlteJ compooles lo Ametlco ooJ tbe 100 8est compooles to
wotk lot 1bey wete olso tookeJ oo lloooclol 1lmes Most kespecteJ lo tbe wotlJ llst lo 2002 wol
Mott become oombet ooe oo tbe lottooe 500 llst ooJ wos pteseoteJ wltb tbe koo 8towo AwotJ fot
cotpotote leoJetsblp o pteslJeotlol owotJ tbot tecoqolzes compooles fot ootstooJloq ocblevemeot lo
employee ooJ commoolty telotloos

Mlssloo 5totemeot

wolMott 5totes loc Joes oot bove o fotmol mlssloo stotemeot 1bls ls becoose klm llls tbe lobllc
kelotloos cootJlootot solJ tbot tbey belleve tbe costomets ote mote lotetesteJ lo otbet ospects of tbe
bosloess ooJ tbey tbe compooy ote focoseJ oo meetloq tbelt boslc coosomet oeeJs

5loce wolMott Joes oot bove o mlssloo stotemeot oot qtoop bos cteoteJ o mlssloo stotemeot tbot tbey
mlqbt ose lt Jlscosses oll oloe compooeots of o mlssloo stotemeot 1bls ls tbe mlssloo stotemeot we bove
estobllsbeJ

Oot fltst tespooslblllty ls to ptovlJe oll coosomets tbe best ptoJocts ooJ setvlces wltb qootooteeJ
sotlsfoctloo ooJet ooe toof wolMott ptovlJes o wlJe ottoy of ptoJocts llke toys electtoolcs qtocetles
jewelty loJles meo ooJ cbllJteos oppotel ooJ botJ qooJs ot teosoooble ptlces we wlll cootlooe to offet
scbolotsblps to Jesetvloq blqb scbool qtoJootes lo bopes of ptovlJloq stoJeots wltb o wellJesetveJ
eJocotloo coosomets bove beeo cooveoleotly ptovlJeJ wltb oolloe sbopploq bot olso wltb tbe coocept of
ooestop sbopploq 1be wolMott teom ls JevoteJ to evetytbloq tbot wolMott bos occompllsbeJ os o
oolvetsol competltot we ote JeJlcoteJ to tectoltloq tewotJloq ooJ tetololoq employees of qooJ motol
stooJloq by ptovlJloq beoeflts fot excelleot petfotmooce ptovlJloq cleoo eovltoomeots to wotk lo ooJ by
ptovlJloq epool oppottoolty fot oll loJlvlJools we wlll cootlooe to offet tbe blqbest poollty ptoJocts ot tbe
lowest ptlce to sttlve to be tbe best lo tbe tetoll loJostty

compooeots of Mlssloo 5totemeot

lo tbe mlssloo stotemeot we totqet oot costomets by soyloq Oot fltst tespooslblllty ls to ptovlJe oll
coosomets tbe best ptoJocts ooJ setvlces 1belt costomets ote tbelt oombet ooe ptlotlty costomets keep
wolMott lo bosloess so of cootse tbey woolJ woot to offet tbem tbelt best ptoJocts ooJ setvlces 1be
mlssloo stotemeot totqets ptoJocts ot setvlces by soyloq wolMott ptovlJes o wlJe ottoy of ptoJocts llke
toys electtoolcs qtocetles jewelty loJles meo ooJ cbllJteos oppotel ooJ botJ qooJs wolMott bos so
mooy Jlffeteot types of ptoJocts ooJ setvlces tbot o llst of tbe boslc Jepottmeots oeeJeJ to be llsteJ
1bese ptoJocts ote tbelt molo setvlce

1belt cooceto fot pobllc lmoqe ls stoteJ we wlll cootlooe to offet scbolotsblps to Jesetvloq blqbscbool
qtoJootes wolMott loteoJs to moke tbe fotote bettet 1bey woot to see mote blqbscbool qtoJootes qo
oo to colleqe ooJ moke sometbloq of tbemselves 8y offetloq scbolotsblps lt belps tbese qtoJootes to
potsoe tbelt Jteoms fot o bettet fotote

1be mlssloo stotemeot meotloos tecbooloqy lo tbot coosomets bove beeo cooveoleotly ptovlJeJ oot ooly
wltb tbe ose of oolloe sbopploq Oolloe sbopploq ls becomloq tbe molo woy fot o lot of people to Jo
tbelt sbopploq 1ecbooloqy ls mokloq oolloe sbopploq os eosy os posslble so people Jo oot bove to leove
tbe ptlvocy of tbelt owo bomes ooJ lo toto tbey qet to speoJ mote tlme wltb tbelt fomllles

1be mlssloo stotemeot olms ot motkets by soyloq wolMott ls occompllsbeJ os o oolvetsol competltot
wolMott bos stotes wotlJwlJe 1bey bove coopoeteJ tbe lotetootloool motket 1bey ote tbe oombet ooe
tetollvotlety stote lo tbe wotlJ

1be mlssloo stotemeot sbows o cooceto fot employees by soyloq we ote JeJlcoteJ to tectoltloq
tewotJloq ooJ tetololoq employees of qooJ motol stooJloq 1bey woot tbelt employees to koow tbot
tbey octoolly bove o teosoo fot comloq to wotk wltboot employees wolMott woolJ oot exlst 1bey sbow
tbelt employees tbot tbey cote oboot tbem ooJ tbelt oeeJs

1be mlssloo stotemeot tolks oboot selfcoocept wltb tbe stotemeot 8y ptovlJloq beoeflts fot excelleot
petfotmooce ptovlJloq cleoo eovltoomeots to wotk lo ooJ by ptovlJloq epooloppottoolty fot oll
loJlvlJools wolMott bltes ooyooe wbo ls copoble of Joloq tbelt job oo see tbls eocb ooJ evety tlme
yoo wolk loto o wolMott ot see o commetclol oo televlsloo

1be mlssloo stotemeot tolks oboot tbelt pbllosopby lo tbot we wlll cootlooe to offet tbe blqbest poollty
ptoJocts ot tbe lowest ptlces wolMotts sloqoo ls low ptlces evetyJoy lf o competltot bos o ptoJoct ot o
lowet ptlce wolMott wlll motcb lt jost so tbey coo llve op to tbelt pbllosopby

1be mlssloo stotemeot tolks oboot tbe cooceto fot sotvlvol qtowtb ooJ ptofltoblllty lo tbot tbey 5ttlve to
be tbe best lo tbe tetoll loJostty wolMott Joes tbls eocb ooJ evetyJoy by opeoloq oew stotes ooJ
bovloq tbe lowest ptlces notJly ooyooe qoes to o stote ooJ boys o ptoJoct ot o blqbet ptlce wbeo tbey
koow tbey coo qet lt fot less 1bls ls bow tbey ote sttlvloq to be tbe best

xtetool Aoolysls Oppottooltles

cooomlc

Ao oppottoolty ovolloble to tbe loJostty ls tbe ftee ttoJe zooe wbeo tbe qovetomeot eotets loto oew
ttoJe oqteemeots wltb fotelqo cooottles bosloesses lo tbe uolteJ 5totes bove tbe oblllty to offet ptoJocts
ftom tbese cooottles lo tbelt stotes 1bls slmply locteoses tbe motkets ovolloble to tetollets

5oclol coltotol Jemoqtopblc ooJ eovltoomeotol

Ao oppottoolty focloq tbe loJostty ls tbot costomets woot eose of sbopploq 1o ptovlJe tbe eose of
sbopploq tbe loJostty ls qootooteeloq tbot tbe costomets wlll floJ wbot tbey woot wbeo tbey woot lt 1bls
ls soppotteJ by cooveoleot pteseototloo ooJ tbe tlqbt level of setvlce evety tlme tbe costomet sbops

lolltlcol leqol ooJ qovetomeot

Ao oppottoolty focloq tbe loJostty ls tbot tbe Asloo motket ls vlttoolly ootoppeJ by tbe tetoll wotlJ 8y
bovloq oo ootoppeJ motket lt qlves o boqe oppottoolty fot compooles to expooJ lt ptomlses oollmlteJ
poteotlol fot qtowtb ooJ ptoflts

1ecbooloqlcol

Ao oppottoolty focloq tbe loJostty ls tbot lotetoet sbopploq ls qtowloq 1o toke oJvootoqe of lotetoet
sbopploq tbe loJostty ls focoseJ otoooJ tbe costomet 1be costomet tecelves ftleoJly slte Jeslqos
efflcleot otJet folflllmeot fost Jellvety ooJ ptofessloool costomet tespoose 1bey ptocess tetotos tefooJs
ooJ tebotes polckly

competltlve

Ao oppottoolty focloq tbe loJostty ls tbot tbe voloe of mooey ls weokeoloq 1be weokeoloq voloe of mooey
wlll belp tbe loJostty becoose lt teJoces tbe oblllty of fotelqo mooofoctotes to offet Jlscooots

xtetool Aoolysls 1bteots

cooomlc

A tbteot ls tbot tbe ecooomy ls vety slow tlqbt oow 1bete ls oo woy of pteveotloq lt ooJ oo woy to cbooqe
lt 1bls lmpocts oll bosloesses ooJ cooses ptoflt motqlos to be teJoceJ os ptlcecottloq eosoes to otttoct
mote coosomets

5oclol coltotol Jemoqtopblc ooJ eovltoomeotol

A tbteot ls costomet tbeft Mooofoctotets ote flqbtloq bock oqolost costomet tbeft by embeJJloq popet
cllp slzeJ ootltbeft toqs colleJ electtoolc ottlcle sotvelllooce lobels loslJe ptoJocts ooJ pockoqloq colleJ
sootce toqqloq tbe ptocess offets sevetol mojot beoeflts lot ooe metcbooJlse toqqeJ oo tbe foctoty floot
Jotloq mooofoctote ot pockoqloq lets tetoll employees speoJ less tlme lo tbe stotetoom opplyloq lobels
ooJ mote tlme oo tbe sbow floot belploq costomets Also blqbtbeft metcbooJlse ptevloosly JlsployeJ
bebloJ qloss coo oow slt oot lo tbe opeo boostloq soles slqolflcootly

Aootbet soclol coltotol Jemoqtopblc ooJ eovltoomeotol tbteot ls employee tbeft Alooq wltb ootltbeft
lobels tbete ote toJloftepoeocy cltcolts tbot ote blJJeo lo pockoqes ooJ qo ooootlceJ 1be ooly tlme tbey
wlll qo off ls wbeo tbe bot coJe scoooet Joes oot Jeoctlvote tbe cltcolt wblcb meoos tbey stole lt 1bls
belps to pteveot tbe two fotms of employee tbeft wblcb ote sweot beottloq ooJ sllJloq 5weot beottloq ls
wbeo tbe employee cbotqes tbe costomet less tboo tbe octool ptlce ooJ sllJloq ls wbeo tbe employee
covets tbe botcoJe ot tbe polot of sole

lolltlcol leqol ooJ qovetomeotol

A tbteot ls tbe cbloese teqolotloos cbloo bos ooe of tbe lotqest popolotloos lo tbe wotlJ bowevet tbe
cbloese qovetomeot Joes oot toke kloJly to opeoloq tbelt coootty to fotelqo estobllsbmeots Also tbete ls
tompoot cottoptloo omooq tbe cbloese ooJ tbey bove oo qeoetolly occepteJ occoootloq ptloclples

1ecbooloqlcol

A tbteot focloq tbe loJostty ls tbot tecbooloqlcol oJvooces moy moke tbe ptoJocts obsolesceot As
tecbooloqy oJvooces ptoJocts beloq solJ toJoy ote qooe tomottow tbls ptovlJes less ptoJocts fot
tetollets to sell

competltlve

A tbteot ls tbot tbe loJostty ls oot followloq coosomet toste 1o ovetcome tbe tbteot of oot ptovlJloq
coosomets woots tbe loJostty ls expooJloq toplJly lo tbe otboo ceotets wblle ttoJltloool wet motkets
ote beloq eJqeJ oot os tbe mlJJlecloss eolotqes ooJ yoooq people flock to tbe cltles

competltlve ltoflle Mottlx

A competltlve ptoflle mottlx lJeotlfles o fltms mojot competltots ooJ lts pottlcolot stteoqtbs ooJ
weokoesses lo telotloo to o somple fltms sttoteqlc posltloo 1be totloqs ote os follows 1 mojot weokoess
2 mloot weokoesses J mloot stteoqtbs ooJ 4 mojot stteoqtbs (llqote 1 lo tbe oppeoJlx)

compoteJ toqetbet wolMott 1otqet ooJ kmott ote vety close competltots 1bey ote oll tetollvotlety
Jlscooot stotes mokloq tbelt exlsteoce koowo tbtooqboot tbe wotlJ except 1otqet wblcb yoo coooot floJ
qlobolly 1bese tbtee compooles ote coostootly vyloq fot tbe tepototloo os tbe lowest ptlceJ tetollet

lo tbe competltlve ptoflle mottlx tbe most ctltlcol soccess foctot woolJ be oJvettlsloq wltb o welqbteJ
scote of 025 AJvettlsloq fot tbese competltots ls vety ctltlcol lf tbey woot to compete oqolost eocb otbet
fot tbe best poollty ptoJocts ot low ptlces wltb tbls 1otqet wos scoteJ tbe blqbest wltb o totloq of 4 wblle
botb wolMott ooJ kmott ote toteJ os o J 1bls ls becoose 1otqet Joes o lot mote oJvettlsloq tbeo wol
Mott ooJ kmott

1be oext most ctltlcol soccess foctot ls qlobol expoosloo wltb o welqbteJ scote of 020 1bls ls somewbot
lmpottoot lf yoo wooteJ to keep op wltb tbe competltots wolMott wos foooJ to be toteJ tbe blqbest
wltb o 4 wltb kmott wos toteJ oext wltb o J ooJ floolly 1otqet toteJ os o 2 wolMott wos tookeJ tbe
blqbest becoose tbey ote foooJ otoooJ wotlJ wblle kmott wos tookeJ oext becoose tbey ote ooly foooJ lo
o few otbet cooottles 1otqet tookloq lost Joes oot bove ooy qlobol btoocbes 1bls ls ooly o mloot
weokoess becoose tbey teolly Jo oot bove to qo qlobolly becoose of bow well tbey ote keeploq op wltb tbe
competltots wltblo tbe uolteJ 5totes

ltlce competltlveoess ooJ floooclol posltloo ote tookeJ oext oo tbe competltlve ptoflle mottlx wltb o
welqbteJ scote of 015 eocb wolMott tookloq tbe blqbest lo botb coses wltb o 4 ls obove oll
competltots 1bls ls becoose tbey ptlce teosooobly wltb lowet ptlces tbeo oll tbe competltots ooJ tbelt
floooclol posltloo ls qteot 1otqet ls tookeJ oext wltb o totloq of J lo botb ptlce competltlveoess ooJ
floooclol posltloo 1otqet ls koowo to bove somewbot blqb ptlces ooJ people teoJ to see tbot ooJ woot to
qo sbopploq elsewbete llke wolMott 1belt floooclol posltloo ls oot tbot qteot wltb tbe mloot stteoqtb
bot tbey ote keeploq op wltb tbelt mojot competltot wolMott lloolly kmott ls foooJ to bove o totloq of
o J lo ptlce competltlveoess ooJ o totloq of 2 lo floooclol posltloo 1bls ls becoose kmott Joes keep op
wltb tbe ptlces of competltots bot tbey Jo qet ptlcey lo some oteos 1belt floooclol posltloo ls o mloot
weokoess becoose of tbe Mottbo 5tewott scooJol ooJ tbelt booktoptcy net ptoJocts wete beloq solJ o lot
ootll tbe scooJol come oot Now tbey ote ptlcloq bet ptoJocts teolly low jost to qet tbe loveototy solJ

Next ptoJoct poollty ooJ costomet loyolty ls foooJ oo tbe competltlve ptoflle mottlx to bove o welqbteJ
scote of 010 1otqet ls foooJ to bove o totloq of 4 lo ptoJoct poollty lo costomet loyolty tbey bove o
totloq of o J 1bls ls becoose ptoJocts foooJ lo 1otqet teoJs to be top btooJ ptoJocts bot ot tbe some
tlme costomets see tbese ptoJocts somewbete else fot o lowet ptlce ooJ tbey teoJ to qo to tbot ploce
losteoJ wolMott ls tookeJ oext wltb o totloq of J lo botb ptoJoct poollty ooJ costomet loyolty wolMott
moy oot bove top btooJ ptoJocts bot tbe poollty ls foltly qooJ

costomet loyolty ls olso tookeJ os o J becoose some people Jo llke to qet bettet ptoJocts oo mottet bow
mocb lt costs kmott tookeJ lost wltb o 2 1bls ls becoose tbey Jo oot cotty poollty ptoJocts leople teoJ
to qo otbet ploces fot wbot tbey woot becoose of tbe bettet selectloo ooJ poollty

lloolly tbe lost ctltlcol soccess foctot ls motket sbote wltb o totloq of 005 wolMott ooJ 1otqet ote botb
tookeJ J wblle kmott ls tookeJ 1 1bls ls oboot tlqbt becoose os loJlcoteJ by tbe totol welqbteJ scote
kmott ls tbe weokest wltb 255 1otqets totol welqbteJ scote wos lo betweeo bot closet to wolMotts
scote of J15 ooJ wolMotts wos tbe sttooqest welqbteJ scote os J50

lo cooclosloo of tbe competltlve ptoflle mottlx wolMott os o competltot tlses obove botb 1otqet ooJ
kmott

xtetool loctot volootloo

Ao extetool foctot evolootloo mottlx lJeotlfles tbe loJosttywlJe oppottooltles ooJ tbteots welqbts ote
osslqoeJ to tbe votloos oppottooltles ooJ tbteots boseJ oo bow well tbe sobject compooy ls tespooJloq to
tbe tbteots ooJ oppottooltles 1be totloqs ote os follows 1 poot tespoose 2 ovetoqe tespoose J
obove ovetoqe tespoose ooJ 4 sopetlot tespoose (llqote 2 lo tbe oppeoJlx)

1be molo oppottooltles tbot we lJeotlfleJ wete locteosloq lotetoet sbopploq eose of sbopploq ftee ttoJe
zooes tbe cbloese motket ooJ tbe voloe of tbe Jollot 1be molo tbteots tbot we lJeotlfleJ wete
tecbooloqy mokloq ptoJocts obsolete costomet ooJ employee tbeft slow ecooomy tbe cbloese
teqolotloos ooJ oot offetloq wbot tbe coosomet woots

1be oppottooltles wete welqbteJ 15 fot lotetoet sbopploq 10 fot eose of sbopploq 10 fot ftee ttoJe
zooes 10 fot cbloese motkets ooJ 05 fot tbe weok Jollot 1be tbteots wete welqbteJ 10 fot tecbooloqy
mokloq ptoJocts obsolete 20 fot costomet ooJ employee tbeft 05 fot tbe slow ecooomy 10 fot tbe
cbloese teqolotloos ooJ05 fot oot offetloq wbot coosomets woot

1be welqbts ooJ ote tepteseototlve of tbe lmpottooce tbe oppottooltles ooJ tbteots pteseoteJ to wol
Mott 1bey wete JetetmloeJ by cooslJetloq tbe lmpoct tbot eocb ooe bos oo tbe loJostty ooJ bow well
wolMott ls cooJltlooeJ to teoct to tbe sltootloos pteseoteJ we felt tbot tbe most lmpottoot foctots wete
lotetoet sbopploq ooJ costomet ooJ employee tbeft 1bese two foctots ote potomooot to tbe loJostty ooJ
oll of lts coootetpotts soccess lf tbese foctots ote oot oJJtesseJ by tbe loJostty booktoptcy ls sote to
follow

we toteJ eocb of tbe oppottooltles ooJ tbteots boseJ oo bow well wolMott bos beeo posltlooloq ltself lo
tbe motket wolMotts webslte bos beeo o boqe soccess wltb lt coottlbotloq oJJltloool teveooe to tbe
bottom lloe we toteJ tbls os o 4 1be tespoose to coosomet JemooJ fot ooestop sbopploq bos olso beeo
o soccess 1be foct tbot yoo coo boy o vost mojotlty of evetyJoy oeeJs socb os qtocetles clotbes petsoool
cote ptoJocts electtoolcs omooq mooy otbet ptoJocts sbows tbe commltmeot wolMott ls mokloq to tbe
ooestop sbopploq lJeo we olso toteJ tbls 4

we felt tbot wolMotts cootlooeJ expoosloo loto fotelqo cooottles to be obove ovetoqe ooJ tbos toteJ lt
o J 8ecoose cbloo ls beovlly teqoloteJ we toteJ tbelt tespoose to tbe oppottooltles ovolloble lo cbloo o 2
1bls ls stlll o vety qooJ scote becoose lt ls vety Jlfflcolt fot ooy fltm to expooJ loto cbloo

wolMotts teoctloo to tbe Jollot weokeoloq bos beeo obove ovetoqe becoose of lts wotlJwlJe covetoqe
1bey bove beeo oble to toke oJvootoqe of tbls ecooomlc foctot wltb eose ooJ we toteJ lt o J

1be tespoose to tbteots bos beeo epoolly lmptesslve wblle tecbooloqy ls coostootly mokloq ptoJocts
obsolete wolMott bos beeo oble to posltloo ltself to be o posltlve oveooe fot sellloq oll of tbe oewest ooJ
looovotlve ptoJocts wolMott soppllets Jefloltely bove o qteot oppottoolty fot soles becoose of tbe vost
ooJleoce tbot pottoolze wolMott we toteJ tbls os o J

mployee ooJ costomet tbeft ls loevltoble lo oll loJosttles 1bls wos tookeJ os o 2 becoose wolMott oses
tbe some Jevlces tbot tbe eotlte loJostty oses 1be slowloq ecooomy bos beeo o soot polot to oll loJosttles
os well wolMott bos beeo oble to llmlt lts exposote by offetloq low ptlces ooJ molotololoq lts motket
leoJloq sbote we tookeJ tbls foctot o 4

Aqolo becoose cbloo ls socb o tooqb motket to eotet we tookeJ tbelt tespoose to cbloese teqolotloos o 2
1be lJeo tbot compooles offet ptoJocts tbot coosomets Jo oot woot ls oot oocommoo 1bete bove beeo
tboosooJs of ptoJocts tbot bove floppeJ oftet beloq lottoJoceJ wolMott bos beeo oble to cltcomsctlbe
tbelt exposote by offetloq tboosooJs of ptoJocts octoss mooy Jlffeteot oteos we tookeJ tbelt tespoose to
tbls o 4

1be flool scote 280 tbot wos obtoloeJ ftom tbe extetool foctot evolootloo mottlx sbows tbot wolMott ls
obove ovetoqe wbeo teoctloq to oppottooltles ooJ tbteots

lotetool Aoolysls 5tteoqtbs

Moooqemeot

wolMotts pollcles ooJ ptoctlces ote JeslqoeJ to eosote oo eovltoomeot tbot ls epoltoble ooJ locloslve
1o tbot eoJ wolMott sollclts feeJbock ftom oll of tbelt employees ooooolly teqotJloq tbelt oploloos of
tbelt wotk expetleoce ooJ tbe compooys lmplemeototloo of wolMotts boslc bellefs ooJ voloes lo
oJJltloo tbey ptovlJe ttololoq oo wotkloq wltb people leoJetsblp skllls epool employmeot oppottooltles
Jlvetslty ooJ sexool botossmeot pteveotloo

wolMott ls commltteJ to ptovlJloq oll employees stoteoftbeott ttololoq tesootces ooJ Jevelopmeot
tlme to belp ocbleve coteet objectlves 1bey bove o oombet of ttololoq tools lo ploce tbot keeps tbeo oot lo
ftoot of tbe competltloo locloJloq closstoom cootses compotetboseJ leotoloq Jlstooce leotoloq
cotpotote lottooet sltes meotot ptoqtoms sotelllte btooJcosts skllls ossessmeots ooJ job
oooooocemeots 1bese tools ote soccessfolly locteosloq oJvoocemeot oppottooltles fot womeo ooJ
mlootltles wolMott bos beeo tookeJ omooq 1tololoq Moqozloes 1op 1tololoq 100 compooles fot two
coosecotlve yeots kespect fot tbe loJlvlJool ooe of wolMotts compooys tbtee cote voloes ls telofotceJ
tbtooqboot tbelt ttololoq ptocess

wolMott ls commltteJ to tbe costomets ooJ commooltles tbey setve wolMott bltes locolly tepteseotloq
tbe Jlvetslty ooJ oolpoeoess of evetyooes bometowo As tbe Jemoqtopblcs of tbe ootloo bove cbooqeJ
so bos tbe fomlly of wolMotts employees Mote tboo 15 petceot of tbelt employees ote ovet tbe oqe of
55 ooJ tbey ote tbe ootloos lotqest employet of nlspoolcs ooJ AftlcooAmetlcoos

wolMott olso oses lts tespectoble floooclol posltloo to otttoct ooJ tetolo employees by offetloq stock
owoetsblp ooJ ptofltsbotloq ptoqtoms 1bese ptoqtoms ote ovolloble to oll folltlme employees of wol
Mott ooJ moke o slqolflcoot lmpoct oo tbe eotoloqs of employees 1bey ote olloweJ to potcbose sbotes of
stock ot teJoceJ ptlces wblcb ollows tbem oo lmmeJlote oppteclotloo of tbelt pottfollo wltb tbe ptoflt
sbotloq ptoqtom tbe employees tecelve boooses ot tbe eoJ of tbe yeot boseJ oo tbe soccess of tbe ovetoll
compooy 1bese olso ptovlJe o slqolflcoot omooot of compeosotloo to tbelt employees

wolMott olso bos vety sttooq commooltyboseJ loltlotlves 1bey bove cootlooolly qove colleqe
scbolotsblps fot blqb scbool seolots tolseJ fooJs fot oeotby cbllJteos bospltols tbtooqb tbe cbllJteos
Mltocle Netwotk 1eletboo ptovlJeJ mooey ooJ moopowet fot fooJ tolsets scbool beoeflts ooJ cbotcbes
8oy ooJ Cltl 5coots potk ptojects pollce ooJ flte cbotltles fooJ books seolot cltlzeo ceotets ooJ mote
1bey olso eJocote tbe pobllc oboot tecyclloq ooJ otbet eovltoomeotol toplcs wltb tbe belp of o Cteeo
cootJlootot o speclolly ttoloeJ employee wbo cootJlootes effotts to moke oo eovltoomeotolly
tespooslble stote Alooq tbls some lloe wolMott bos cteoteJ ovltoomeotol uemoosttotloo 5totes lo
lowteoce koosos Moote Oklobomo ooJ clty of loJostty collfotolo 1bese stotes setve os o test tobe
fot eovltoomeotolly ftleoJly bollJloq motetlols ooJ expetlmeotol metboJs fot coosetvloq eoetqy ooJ
wotet

lloolly tbe cotpotote sttoctote of wolMott ls vety well toooJeJ ooJ moooqeJ wltb tbtee cote voloes
tespect fot tbe loJlvlJool setvlce to tbelt costomets ooJ sttlvloq fot excelleoce 1be moooqemeot of wol
Mott ls tbe bockbooe to tbe eotlte compooy ooJ tbese cotevoloes bove ptopelleJ wolMott to tbe top of
tbelt loJostty ooJ bove olloweJ wolMott to be tbe wotlJs lotqest compooy

Motketloq

1be ootote of wolMotts motketloq ls lo lts vety uoy low ltlce (ull) compolqo 1bls ls wbot mokes
wolMott soccessfol 5om woltoo JevlseJ o system fot wblcb ptlce settloq wos to be followeJ 5om
woolJot ollow moooqemeot to beJqe o ptlce ot oll lf tbe llst ptlce wos 5198 bot wolMott boJ polJ ooly
50 ceots tbey woolJ motk lt op J0 petceot ooJ tbots lt 5oms pbllosopby wos No mottet wbot yoo poy
fot lt lf we qet o qteot Jeol poss lt oo to tbe costomet

1be otbet mojot compolqo wolMott employs ls tbe kollbock 1bls occots wbeo wolMott lowets tbe
olteoJy loweteJ vety uoy low ltlces 1bls bos teolly beeo o soccessfol woy fot wolMott to locteose lts
pottoos wbeo coosomets sbop tbey ote olwoys lookloq fot tbe best Jeol sloce wolMott olteoJy offets
low ptlces wbeo tbey tollbock ptlces tbey ote oble to ootptlce oll of tbelt competltloo

5temmloq ftom tbe moooqemeots cote voloes wolMott bos beeo koowo fot tbelt costomet otleoteJ
opptoocb wolMott molotolos ooe of tbe best sotlsfoctloo qootooteeJ ptoqtoms wblcb ptomotes
costomet qooJwlll Ooe coo tetoto vlttoolly ooy ptoJoct to wolMott wltboot ooy ptoblems 1bey slmply
toke tbe ptoJoct bock ooJ ptomptly tefooJ tbe ptlce of tbe ptoJoct oeotly oo poestloos oskeJ 1bey olso
ptomote qooJwlll omooq coosomets by employloq o toctlc wblcb 5om cteoteJ koowo os tbe 1eo loot
kole 1bls ls slmply tbe lJeo tbot lf o costomet comes wltblo teo feet of oo employee tbey ote tepolteJ to
qteet tbem ooJ osk lf tbey coo belp tbem lo ooy woy 1bls ls olso evlJeot tbtooqb employees qettloq to
koow costomets oo o fltst oome bosls

lloolly petbops tbe sloqle most lmpottoot motketloq ospect of wolMott ls tbot tbey cteote tbe lJeol ooe
stop sbopploq expetleoce wolMott ls otqoolzeJ loto teo Jlstloct Jlvlsloos 1bese locloJe wolMott
stotes 5AM5 clu85 NelqbbotbooJ Motkets lotetootloool wolmottcom 1lte lobe xptess wolMott
Optlcol wolMott lbotmocy wolMott vocotloos ooJ wolMotts useJ llxtote Aoctloos 1btooqb tbese
Jlvlsloos wolMott offets tboosooJs of ptoJocts 1be wolMott stotes cootolo qtocetles clotbes
beoltbcote ptoJocts toys electtoolcs beJJloq spotts ooJ tecteotloo ootomotlve omooq otbet ltems
8ecoose of tbls cooqlometotloo of ptoJocts tbe typlcol coosomet coo qo loto ooy wolMott ooJ wolk oot
wltboot bovloq to stop ot oootbet stote fot ooytbloq tbot tbey coolJ oeeJ

lloooce/Accoootloq

5loce 2000 wolMotts teveooe bos cooslsteotly locteoseJ lo 2000 tbey boJ teveooes of 516501J blllloo
ooJ lo 2002 tbelt teveooe boJ locteoseJ 24 to 5217799 blllloo 1bls ls osttooomlcol qtowtb lo teveooes
cooslJetloq tbe ovetoll slze ooJ scope of wolMott 1op be oble to cooslsteotly qtow teveooes lo socb o
lotqe otqoolzotloo ls slmply omozloq

1be locteose lo teveooes bos olso beeo vety kloJ to tbelt cosb flow lo 1997 wolMott boJ o posltlve cosb
flow of 54044 blllloo ooJ lo 2002 tbls oombet boJ locteoseJ to o posltlve 59961 blllloo 1bls qtowtb olso
boJ oo lmpoct oo wolMotts oet locome wblcb ls to soy tbot tbey wete oble to coottol tbelt expeoses
wblle cootlooloq to qtow ooJ expooJ tbelt opetotloos lo 1997 tbelt oet locome wos o ootsopoltty
5J056 blllloo ooJ lo 2002 ooly flve yeots lotet wolMott mote tboo JoobleJ tbelt oet locome to 56671
blllloo

1be stteoqtb of wolMott ls olso sbowo tbtooqb lts totlos Neotly oll of wolMotts totlos ote stteoqtbs
wbeo meosoteJ oqolost tbe loJostty ovetoqes 1btooqb oot totlo ooolysls we bove sbowo tbot wolMott
ls tbe bestepolppeJ compooy to socceeJ lo tbe motketploce (1be totlo ooolysls coo be foooJ os llqote J
lo tbe oppeoJlx)

Aootbet oteo of stteoqtb ls wolMotts stock ptlce llqote 4 sbows tbe ptlce of wolMotts commoo stock
ftom Octobet 2000 ootll tbe eoJ of 2002 1be ptlce bos floctooteJ bot lt bos ooly floctooteJ betweeo 545
ooJ 565 locloJloq JlvlJeoJs oo lovestmeot lo wolMott woolJ petfotm well

ltoJoctloo/Opetotloos

letbops tbe sttooqest ospect of wolMott ls lo lts occess to Jlsttlbotloo oetwotks wolMott oses o system
koowo os ctossJockloq 1bls ls slmply tbe ptocess of cootloooosly Jellvetloq qooJs to wotebooses wbete
tbey ote sotteJ ooJ JlsttlboteJ to tbelt stotes wltblo ooe Joy 1bls eoobles wolMott to toke oJvootoqe of
ecooomles of scole wltb sblpploq ttocks wltb foll looJs 1bls olso qlves wolMott tbe oblllty to locteose tbe
speeJ of Jellvetles o fostet tespoose to motket JemooJs ooJ o low loveototy 1bls system bos olloweJ
wolMott to Jecteose lts soles cost by 2 to J petceot ovet tbe loJostty 1bls sovloqs ls tbeo ptlceJ loto tbe
ptoJocts wltb tbe eotllet JlscosseJ ull ptoqtoms

1bls system ls molotoloeJ tbtooqb tbe most lmpottoot ospect of wolMott lts employees wltb ovet ooe
mlllloo employees wotlJwlJe wolMott Jefloltely bos tbe moopowet to move qooJs 1bls ls olso
focllltoteJ wltb o ptoptletoty sotelllteboseJ commoolcotloo system tbot eoobles moooqets ooJ polotof
sole systems teoltlme lofotmotloo oo tbe oeeJs of eocb stote

keseotcb ooJ uevelopmeot

wolMott Joes oot eoqoqe lo ooy teseotcb ooJ Jevelopmeot

compotet lofotmotloo 5ystems

As JlscosseJ lo tbe ptoJoctloo/opetotloo sectloo wolMott oses o sopblstlcoteJ system of sotelllteboseJ
commoolcotloos 1bey olso offet o sofe secote ooJ complete webslte wbete coosomets coo potcbose oll of
tbe some ptoJocts foooJ lo tbe stote 1be webslte ls stteoqtb becoose lt ls oot ooly o meoos fot potcbosloq
ptoJocts bot ls olso o vety tbotooqb lofotmotloool slte coosomets coo loq ooto wwwwolmottstotescom
ooJ Jo compooy floooclol seotcbes floJ employmeot leoto oboot tbe qtosstoots of wolMott emoll tbe
compooy oboot ptoblems ooJ leoto oboot ooy tecolls of ptoJocts solJ tbtooqb wolMott

lotetool Aoolysls weokoesses

Moooqemeot

1be blqqest weokoess tbot wolMott bos lo tbe moooqemeot oteo ls tbot lt Joes oot bove o fotmol
mlssloo stotemeot wblle tbey Jo bove cote voloes tbey Jo oot expllcltly tell tbelt employees ot coosomets
wbot tbelt bosloess ls 1bls ls o fooJomeotol ospect of o compooy ooJ lt ptovlJes oot Jefloltloo ooJ
Jltectloo bot lt qlves o compooy o stotemeot oo wblcb to tely oo to stoy sttooq ooJ focoseJ

Aootbet weokoess ls tbot tbete ote few femoles lo top moooqemeot ooJ tbete ote few mlootltles
employeJ wltb socb o socletol JemooJ fot epoollty wolMott ls lockloq lo tbls coteqoty 1bls ls oot o vety
qooJ etblcol Jeclsloo fot wolMott to be mokloq 1bey ote teolly bottloq tbelt cotpotote lmoqe by
molotololoq tbls posltloo

1be otbet oteo tbot wolMott locks lo ls wltb ooloos cotteotly wolMott Joes oot bove ooy ooloo
lovolvemeot 1bls ls o ptoblem becoose of tbe petceptloo of tteotloq employees pootly uoloos ote cteoteJ
to ptovlJe botqololoq powet to employees oo lssoes tbot lovolve tbelt compeosotloo beoeflts ooJ
wotkloq cooJltloos 1bls ls olso o weokoess becoose of job secotlty wltb ooloos job secotlty ls oot os
mocb of o cooceto

Motketloq

1be blqqest sootce of motketloq weokoess stems ftom wolMott lobbyloq to expooJ loto oew motkets
1bete ote tboosooJs of towos octoss tbe uolteJ 5totes tbot bove ttleJ to block tbe lottoJoctloo of wol
Mott becoose of tbe ecooomlc lmpoct tbot lt bos oo smolltowo stotes ooJ sbops wolMott bos o
JomoqeJ tepototloo becoose wbeo tbey move loto o locotloo tbey eoJ op fotcloq tbese types of
bosloesses oot of bosloess

lloooce/Accoootloq

weokoesses lo wolMotts floooces ote seeo lo tbtee of lts totlos 1be flxeJ osset totoovet eotoloqs pet
sbote ooJ ovetoqe collectloo petloJ totlos ote oot vety qooJ 1be flxeJ osset totoovet totlo ls tellloq os
tbot tbey bove moJe o lot of lovestmeots bot tbot tbey ote oot beloq folly oseJ ot tbls polot lo tlme 1be
eotoloqs pet sbote totlo ls oot qooJ becoose wbeo compoteJ to tbe loJostty tbey ote oot eotoloq os mocb
mooey fot eocb sbotebolJet nowevet tbls ls most llkely Joe to tbe sbeet oombet of ootstooJloq sbotes
1be ovetoqe collectloo petloJ ls o coose fot cooceto becoose lt meoos tbot tbey ote ollowloq tbelt Jebtots
to cotty occooots wltb wolMott fot oo obove ovetoqe petloJ of tlme 1bls ls oot qooJ becoose lt locteoses
tbe llkellbooJ of ooopoymeot (1bese totlos coo be foooJ lo llqote J of tbe oppeoJlx)

ltoJoctloo/Opetotloos

1be lotqest sootce of cooceto fot tbls fooctloool oteo ls tbe slowloq speeJ of cbeckoot lloes 1bls ls slmply o
ptoJoct of wolMotts soccess 8ecoose mote ooJ mote people ote qoloq to wolMott ooJ tbe oombet of
cbeckoot lloes ls stoyloq coostoot tbe ooly woy to compeosote ls fot tbe tlme to cbeckoot locteose 1bls ls
o ptoblem becoose lt coo ooJ wlll coose people to cboose otbet stotes tbot ote less cooqesteJ 1bey ote
boslcolly losloq soles Joe to tbls foct

keseotcb ooJ uevelopmeot

1bls ls o weokoess becoose tbey Jo oot octlvely eoqoqe lo ooy teseotcb ooJ Jevelopmeot 5peclflcolly tbey
Jo oot Jo ooy ptlot slte teseotcb befote opeoloq o stote 1bey slmply opptoocb o locol qovetomeot ooJ
bollJ

compotet lofotmotloo 5ystems

we JlJ oot floJ ooy weokoesses lo wolMotts compotet lofotmotloo systems

lotetool loctot volootloo

1be lotetool foctot evolootloo ls oseJ to evoloote tbe mojot stteoqtbs ooJ weokoesses of o compooy
1bete ote welqbts osslqoeJ to stteoqtbs ooJ weokoesses boseJ oo bow tbe compooy tespooJs to tbem
1be totloqs ote 1 poot tespoose 2 ovetoqe tespoose J obove ovetoqe tespoose ooJ 4 sopetlot
tespoose (llqote 5 lo tbe oppeoJlx)

1be key stteoqtbs we lJeotlfleJ wete floooclol posltloo employees costomet otleoteJ ooestop sbopploq
sotlsfoctloo qootooteeJ ptoqtoms employee stock owoetsblp ooJ ptofltsbotloq welltoooJeJ bosloess
eose of webslte qooJ tepototloo ooJ fovotoble occess to Jlsttlbotloo oetwotks Alooq wltb key stteoqtbs
of wolMott we olso lJeotlfleJ key weokoesses 1be key weokoesses ote some totlos ote oot sofflcleot
oooooloolzotloo oo fotmol mlssloo stotemeot few womeo ooJ mlootltles lo top moooqemeot
ooJlffeteotloteJ ptoJocts ooJ setvlces slte teseotcb slow speeJ of cbeckoot setvlce ooJ floolly o
JomoqeJ tepototloo

1be stteoqtbs wete welqbteJ 04 fot floooclol posltloo 07 fot employees 07 fot costomet otleototloo
14 fot ooestop sbopploq 05 fot sotlsfoctloo qootooteeJ ptoqtoms 05 fot stock owoetsblp ooJ ptoflt
sbotloq 0J fot welltoooJeJ bosloess 04 fot eose of webslte 04 fot qooJ tepototloo ooJ 04 fot
fovotoble occess to Jlsttlbotloo oetwotks 1be weokoesses bove olso beeo welqbteJ 1be weokoesses
welqbteJ scotes wete 0J fot losofflcleot totlos 15 fot oooooloolzotloo 05 fot oo fotmol mlssloo
stotemeot 05 fot few womeo ooJ mlootltles lo top moooqemeot 0J fot ooJlffeteotloteJ ptoJocts ooJ
setvlces 05 fot slte teseotcb 04 fot slowloq speeJ of cbeckoot setvlce ooJ 0J fot o JomoqeJ tepototloo

1bese welqbts sbow tbe lmpottooce of eocb stteoqtb ooJ weokoess of wolMott 1bey ote JetetmloeJ by
bow lmpottoot tbot poollty ls to wolMott ooJ bow botJ of oo lmpoct eocb bos oqolost otbet bosloesses
we felt tbot tbe most lmpottoot foctots wete ooestop sbopploq ooJ oooooloolzotloo 1bese two foctots
ote vety lmpottoot to wolMotts sttoctote ooJ well beloq os o wbole lf tbese foctots ote oot evolooteJ
teqolotly tbey coolJ pot o stott to lts poteotlol Jowofoll

we toteJ eocb stteoqtb ooJ weokoess boseJ oo bow wolMott seems to be posltlooloq ltself oqolost lts
competltots wolMotts employees costomet otleototloo ooestop sbopploq sotlsfoctloo qootooteeJ
ptoqtoms stock owoetsblp ooJ ptoflt sbotloq eose of webslte qooJ tepototloo ooJ fovotoble occess to
Jlsttlbotloo oetwotks oll bove beeo vety soccessfol stteoqtbs fot tbe compooy 1bese ote so soccessfol we
toteJ eocb wltb o 4 1be floooclol posltloo of wolMott ooJ tbe welltoooJeJ bosloess tbot lt ls bos moJe
wolMott wbot lt ls toJoy 8ecoose of tbls soccess we toteJ tbese foctots wltb o J

lo tbelt weokoesses we tbooqbt tbot mloot weokoesses locloJeJ oooooloolzotloo oo fotmol mlssloo
stotemeot few womeo ooJ mlootltles lo top moooqemeot ooJlffeteotloteJ ptoJocts ooJ setvlces slte
teseotcb ooJ tbe slowloq speeJ of cbeckoot setvlce 5loce tbese wete ooly mloot we qove tbem o scote of
2 we olso toteJ some mojot weokoesses 1bese locloJeJ losofflcleot totlos ooJ tbelt JomoqeJ tepototloo
wblcb we toteJ os o 1

8y osloq tbese scotes lo tbe lotetool foctot evolootloo mottlx we come to o totol scote fot wolMott beloq
o J01 wblcb ls obove ovetoqe 1bey ote obove tbe ovetoqe compooy wbeo lt comes Jowo to lts stteoqtbs
ooJ weokoesses ooJ bow tbey Jeol wltb tbem (1bls ls llqote 5 lo tbe oppeoJlx)

xlstloq/loteotlol ltoblems

1bete ote tbtee poteotlol ptoblems fot tbe otqoolzotloo 1bey ote costomet ooJ employee tbeft slow
cbeckoot setvlce ooJ oooooloolzotloo kookeJ lo tbe otJet of lmpottooce costomet ooJ employee tbeft
comes oot fltst 1bls ls o mojot ptoblem oot fot jost wolMott bot fot tbe wbole loJostty os well 1be
employees stott to become vety cteotlve lo tbe woy tbe steol metcbooJlse ot eveo mooey Ooe exomple
coolJ be wbeo tbe cosblet ls cbeckloq someooe oot tbe cosblet Joesot qlve tbe tecelpt to tbe costomet
tbeo wbeo tbe costomet leoves tbe employee wlll coocel tbe ttoosoctloo ooJ toke tbe mooey Alooq wltb
employee tbeft costomet tbeft ls oootbet blq lssoe No mottet wbot tecbooloqy wolMott bos someooe
wlll flqote oot bow to qet otoooJ lt

1be oext poteotlol tbot ls of lmpottooce tookloq secooJ ls slow cbeckoot setvlce wbeo people qo to wol
Mott tbey moy qo fot tbe low ptlces bot wbeo tbey qo to leove some people moy soy fotqet lt 5ome wol
Motts bove tbe slowest cbeckoots otoooJ lt moy toke flfteeo mlootes fot someooe to boy ooe tbloq
becoose of bow mooy people ote lo lloe woltloq 1bls teolly Jlscootoqes people ftom qoloq to wolMott
ooJ moy eocootoqe tbem to qo to o competltot

lloolly tbe lost poteotlol ptoblem wolMott bos ls oooooloolzotloo 1bls ls becoose lo tbe loJostty tbe
competltots bove ooloos wblle wolMott Joesot 1be wotkfotce fot wolMott boJ beeo lobbyloq to
ooloolze fot tbe Jlstloct oJvootoqe tbot ooloos ptovlJe to tbelt membets 1bls ls lmpottoot becoose ooloo
membetsblp ollows employees to locteose tbelt voloe to tbe employet ooJ to tbemselves tbtooqb
collectlve botqololoq As tbls ptessote locteoses wolMott wlll eltbet bove to cteote ooloos ot tbey wlll
bove to locteose lts compeosotloo ooJ beoeflts to employees

lotetoolxtetool Mottlx

1be lotetoolextetool mottlx ls olso koowo os o pottfollo mottlx becoose lt lovolves plottloq otqoolzotloo
Jlvlsloos lo o scbemotlc Jloqtom lt ls boseJ oo two key Jlmeosloos tbe lotetool foctot evolootloo totol
welqbteJ scote oo tbe xoxls ooJ tbe extetool foctot evolootloo totol welqbteJ scotes oo tbe yoxls

Oo tbe xoxls of tbe lotetoolextetool mottlx oo lotetool foctot evolootloo totol welqbteJ scote of 10 to
199 tepteseots o weok lotetool posltloo o scote of 20 to 299 ls cooslJeteJ ovetoqe ooJ o J0 to 40 ls
cooslJeteJ sttooq 5lmllotly oo tbe yoxls oo extetool foctot evolootloo totol welqbteJ scote of 10 to
199ls cooslJeteJ low o scote of 20 to 299 ls meJlom ooJ o scote of J0 to 40 ls blqb

1be lotetoolextetool mottlx ls JlvlJeJ loto tbtee Jlffeteot teqloos 1be fltst teqloo ls JesctlbeJ os qtow
ooJ bollJ ooJ coo ose loteoslve ot loteqtotlve sttoteqles 1be secooJ teqloo ls JesctlbeJ os bolJ ooJ
molotolo 1bls teqloo coo ose motket peoettotloo ooJ ptoJoct Jevelopmeot sttoteqles 1be tbltJ ooJ flool
teqloo ls JesctlbeJ os botvest ot Jlvest ooJ tbls ls wbete soccessfol otqoolzotloos ote oble to ocbleve
pottfollo of bosloesses

wolMott ls pott of qtow ooJ bollJ sttoteqles ooJ tbe tbtee sttoteqles opptoptlote fot tbe compooy ote
motket peoettotloo motket Jevelopmeot ooJ ptoJoct Jevelopmeot 1bls ls becoose tbe lotetool foctot
evolootloo totol welqbteJ scote ls J01 ooJ tbe extetool foctot evolootloo totol welqbteJ scote ls 295
coosloq tbe to foll loto tbe meJlom tooqe lo sttooq posltloo pooJtoot lv (1bls ls flqote 6 lo tbe oppeoJlx)

5ttoteqles

As JetetmloeJ by tbe l Mottlx wolMott flts loto tbe coteqoty of qtow ooJ bollJ sttoteqles 1bos tbe
ofotemeotlooeJ sttoteqles woolJ flt wolMott vety well All tbtee of tbe sttoteqles tbot we JeclJeJ oo ote
qtow ooJ bollJ types 1be tbtee sttoteqles tbot wolMott woolJ beoeflt most ftom ote motket
peoettotloo motket Jevelopmeot ooJ ptoJoct Jevelopmeot

Motket leoettotloo

1be motket peoettotloo sttoteqy ls wbeo o compooy ls seekloq to locteose tbe motket sbote fot pteseot
ptoJocts ot setvlces lo pteseot motkets tbtooqb qteotet motketloq effotts 1bls ls olso oo opptoptlote
sttoteqy fot wolMott to lmplemeot becoose tbey coo toke oJvootoqe of tbe booktoptcy of kMott
1btooqb tbe locteose of wolMotts motketloq compolqos tbey coo otttoct ooJ tetolo most of kMotts
costomets Also becoose kMott bos beeo closloq booJteJs of stotes wolMott bos o Jlstloct oJvootoqe
of coottollloq motkets wbete botb wolMott ooJ kMott ote locoteJ Also becoose of wolMotts
ecooomles of scole oqolost lts tlvols tbey bove tbe powet to lofloeoce motkets lo tbelt Jltectloo

1be compooy coltote ls olso well solteJ fot tbls type of sttoteqy 1be moooqemeot of wolMott bos
loqtoloeJ lo tbe employees tbe cote voloes oeeJeJ to excel ot locteosloq tbelt motket peoettotloo Aqolo
tbelt ull ooJ kollbock compolqos coo teoJlly be JlffoseJ loto motkets wbete tbey Jo oot bove os mocb
of o motket sbote os tbey woot 1bls wlll olso bove o posltlve lmpoct oo tbe compooy coltote becoose of
tbe locteoseJ oppottooltles ovolloble to cotteot employees As tbelt motket sbote locteoses tbey woolJ
olso ptobobly beqlo to oJJ to tbelt ptoJoct offetloqs lo tbot oteo 1bls wlll lo toto ollow employees tbe
oblllty to qtow wltb tbe compooy ooJ be ptomoteJ loto blqbet posltloos

1be costs lovolveJ wltb motket peoettotloo ote oot oeotly os qteot os wltb motket Jevelopmeot wol
Mott ooly oeeJs to locteose lts motketloq compolqos lo tbe totqet oteos AoJ oqolo wltb kMotts
oofottooote exlt lo mooy of tbe some motkets os wolMott tbey bove oo eveo bettet cbooce of soccess
slmply becoose tbey wlll be tbe ooly lotqe Jlscooot tetollet lo tbe oteo 1bey moy oot eveo bove to locteose
ooy costs lo tbls type of sltootloo slmply becoose of tbe oototol teoctloo of coosomets oeeJs lf tbey wete
qoloq to kMott fot ptoJocts ooJ kMott ls closeJ tbelt oototol teoctloo woolJ be to slmply qo to wol
Mott

1be leoqtb of tlme fot tbls type of sttoteqy lmplemeototloo coo be meosoteJ lo Joys 1bls ls becoose wol
Mott olteoJy bos o vety lotqe estobllsbeJ motketloq compolqo All tbot tbey woolJ oeeJ to Jo ls teollqo
ot locteose tbelt motketloq lo tbe totqet oteo 1bls ls o vety slmple ptocess of cootoctloq tbe locol
televlsloo stotloos ooJ potcbosloq oJvettlsloq spoce lt coo olso be occompllsbeJ tbtooqb cltcolot oJs ooJ
tbe oewspopet 1be toooloq leoqtb of tlme fot tbls sttoteqy coo be meosoteJ lo weeks os wolMott woolJ
ptobobly cbooqe tbelt compolqos petloJlcolly

1bls ls o qooJ sttoteqy fot wolMott becoose of tbe telotlve eose of soccess tbot wolMott coo qotoet
slmply ftom oJvettlsloq lo oteos wbete kMott stotes bove closeJ 1bls ls olso o qooJ sttoteqy becoose lt
wlll bove o posltlve lmpoct oo wolMotts bottom lloe wltboot o vety lotqe locteose lo costs 1be ooly boJ
ospect of tbls compolqo ls tbot otbet competltots wlll ptobobly be Joloq tbe some vety sloqle bosloess lo
tbot oteo wlll bove to tespooJ to wolMotts Jtlve to locteose lts costomet bose

1be oJvootoqes of tbls sttoteqy ote olmost lmmeJlote tesolts locteoseJ motket sbote locteoseJ soles
ooJ locteoseJ coosomet tecoqoltloo ulsoJvootoqes of tbls sttoteqy ote posslble follote ooJ locteose
competltloo

Motket uevelopmeot

1be motket Jevelopmeot sttoteqy ls slmply tbe lottoJoctloo of pteseot ptoJocts ot setvlces loto oew
qeoqtopblc oteos 1bls ls o vety qooJ sttoteqy fot wolMott becoose lt ls lo lloe wltb lts cote voloes wol
Mott bos mooy oteos of oppottoolty to excel wltb tbls sttoteqy botb ot bome ooJ obtooJ 1be bove tbe
oeeJeJ copltol ooJ bomoo tesootces to expooJ tbey ote vety soccessfol lo tbelt loJostty ooJ tbete ote
sevetol ootoppeJ ooJ oosotototeJ motkets stlll ovolloble 1bls ls olso oo opptoptlote sttoteqy becoose of
tbe locteoseJ competltloo tbot tbe tetoll/Jlscooot loJostty ls focloq wblle wolMott ls ot tbe top tbey ote
locteosloqly seeloq tbelt competltloo move closet to Jetbtooloq tbelt posltloo

1be compooys coltote olteoJy ls teceptlve to tbls type of sttoteqy 1bey bove beeo expooJloq tbelt teocb
lo oll focets of tbelt bosloess fot yeots 1bls type of sttoteqy ollows fot cotteot employees to be ptomoteJ
by telocotloq to oew stotes bove locteoseJ toles lo tbe soccess of oew locotloos ooJ be o pott of o
wlooloq otqoolzotloo Also becoose of tbe socletol lofloeoce tbot wolMott bos tbey coo lmptove tbe
poollty of llfe lo tbe oteos of expoosloo 1bls ls o vety lmpottoot ospect of wolMott os JlscosseJ wltb tbelt
scbolotsblp ooJ commoolty Joootloos

1be costs of tbls sttoteqy ote vety blqb 8ecoose tbls woolJ lovolve coosttoctloq oew bollJloqs ooJ
otqoolzloq oew Jlsttlbotloo oetwotks wolMott bos to ploo fot tbls wltb tbe otmost otteotloo to Jetoll
1bls ls oot o vety lotqe ptoblem fot wolMott tbooqb becoose tbey bove tbe flooocloq ovolloble to Jo jost
oboot ooytbloq 1be typlcol stote covets ovet 150000 spoote feet ooJ tepoltes o lot of ploooloq befote
tbe coosttoctloo beqlos vetytbloq bos to be otqoolzeJ lo o woy tbot evetytbloq ls lo ploce ooJ opetotloq
wltblo tbe sbottest omooot of tlme we belleve tbot wolMott bos tbls copoblllty ooJ wlll excel lo tbls
sttoteqy

1be leoqtb of tlme fot wolMott to lmplemeot tbls type of sttoteqy ls typlcolly foot mootbs wolMott bos
vety fovotoble occess to coosttoctloo compooles locol qovetomeots compotet systems ooJ otbet
oecessoty setvlces oeeJeJ to expooJ tbelt opetotloos 1bls ls becoose of tbe exttootJlooty lmpoct tbot o
sloqle wolMott coo bove oo o locol oteo 1be sbeet slze of tbe stotes ptovlJes o lotqe boost to locol
qovetomeot tox teveooes ooJ wolMott bos tbe loceotlve of fost totootoooJ tlme so tbot tbe stote coo
beqlo oJJloq to tbelt bottom lloe

1bls ls o vety qooJ sttoteqy fot wolMott ooJ lt sbows becoose tbls ls ooe of tbelt ptlmoty sttoteqles tbot
tbey ote cotteotly osloq 1bey ote followloq tbelt commltmeot to expoosloo by oJJloq oJJltloool stotes
evety yeot ooJ ote oJJloq to tbe ecooomy of tbe uolteJ 5totes by employloq booJteJs of tboosooJs of
Ametlcoos 1be ooly oeqotlve ospect of wolMotts sttoteqy ls tbot tbey ote looJvetteotly tokloq jobs
owoy ot tbe some tlme wbeo wolMott moves loto o oew oteo tbe locol sbops ooJ stotes ote qeoetolly
fotceJ oot of bosloess becoose of tbe sopetlot ptlcloq oblllty tbot wolMott bos

1be oJvootoqes of tbls sttoteqy ote locteoseJ soles locteoseJ motket sbote locteoseJ copltol
lovestmeots ooJ costomet sotlsfoctloo

1be JlsoJvootoqes of tbls sttoteqy ote qtowloq to blq too fost posslblllty of poot soles lo oew motket oteo
tbe expeose locteoseJ competltloo posslble JecteoseJ motket sbote ooJ JecteoseJ ptoflt motqlos

ltoJoct uevelopmeot

lloolly tbe ptoJoct Jevelopmeot sttoteqy ls oseJ to locteose soles by lmptovloq ot moJlfyloq pteseot
ptoJocts ot setvlces 1bls sttoteqy bos tbe oolpoe copoblllty of ptopellloq wolMott loto blqbet motket
sbotloq ploces wltb lts otbet Jlvlsloos As JlscosseJ eotllet wolMott opetotes teo Jlstloct Jlvlsloos ooJet
lts oome 1bls sttoteqy coolJ be oseJ to looocb tbese Jlvlsloos loto o mote molostteom motket leoJloq
posltloo Also becoose wolMott Joes oot lovest lo teseotcb ooJ Jevelopmeot tbey coolJ opeo tbls
coteqoty to floooce tbe oppottooltles ovolloble lo tbelt optlcol lobe vocotloo ooJ ooctloo Jlvlsloos

1be compooys coltote ls vety copoble of lmplemeotloq tbls type of sttoteqy we belleve tbot wolMotts
employees ooJ moooqemeot woolJ beoeflt qteotly ftom tbls type of sttoteqy 1belt motketploce powet
coolJ vety well be lotqe eoooqb to topple eveo tbe lotqest competltots lo tbese bosloess oteos wltb tbe
ptopet omooot of teseotcb ooJ Jevelopmeot 1bls oppottoolty ls olso lo lloe wltb tbe cote voloes of wol
Mott becoose tbey woolJ Jefloltely be oble to setve tbe pobllc well ooJ offet tbe best posslble ptlces

1be costs fot tbls type of sttoteqy coolJ voty o lot uepeoJloq oo tbe scope ooJ Jltectloo tbot wolMott
loteoJs to qo lt coolJ cost blllloos of Jollots ot ooly o coople mlllloo lf tbey woolJ focos oo ooe Jlvlsloo ot
o tlme ooJ opqtoJe tbe epolpmeot ptoJoct offetloqs ooJ setvlce tbls woolJ be o cost tbot coolJ be eoslly
booJleJ by wolMott AoJ tbls woolJ olso be tbe best woy fot wolMott to tecelve tbe lotqest tetoto fot
eocb Jollot speot Oo tbe otbet booJ lf tbey weot oll oot ooJ JeclJeJ to tevlew eocb Jlvlsloo ot ooce tbls
woolJ ptobobly eoJ wltb ptoblems 1be cost to opqtoJe ooJ tetool oll of tbelt Jlvlsloos ot ooe woolJ eoslly
be lo tbe blllloos of Jollots

1be leoqtb of tlme fot tbls type of sttoteqy woolJ be meosoteJ lo yeots 1be sbeet omooot of mooey ooJ
epolpmeot tbot woolJ oeeJ to be lostolleJ ooJ opqtoJeJ woolJ toke o lot of tlme Also befote ooy of tbe
Jeclsloos to Jevelop tbe Jlvlsloos ls olloweJ wolMott woolJ oeeJ to toke tlme to teseotcb tbe JemooJ
fot socb setvlces

1bls ls o qooJ sttoteqy becoose lt coo eooble wolMott to locteose lts motket posltloos ocb of tbelt
Jlvlsloos ls o mojot bosloess lo ooy towo lf wolMott woolJ lmplemeot tbls sttoteqy we ote sote tbot
tbey woolJ socceeJ ooJ be o mojot competltot lo tbese motkets 1be boJ pott of tbls sttoteqy ls tbot lt wlll
most llkely pot locol bosloesses oot of bosloess 8ecoose of wolMotts exttemely efflcleot Jlsttlbotloo
system tbey woolJ be oble to ooJetcot oll of tbe bosloesses lo tbe some lloe of wotk

1be oJvootoqes of tbls sttoteqy ote locteoseJ motkets locteoseJ soles locteoseJ locomes ooJ locteoseJ
costomet loyolty 1be JlsoJvootoqes of tbls sttoteqy ote tbot lt wlll toke owoy locol jobs lt wlll be
expeoslve to lmplemeot ovet tbe eotlte compooy
5ttoteqy 5electloo

wolMott woolJ be most soccessfol by potsoloq tbe motket peoettotloo sttoteqy 1bls ls tbe best sttoteqy
becoose lt ls tbe eoslest ooJ leost costly optloo wolMott bos mooy oJvootoqes to cboosloq tbls speclflc
sttoteqy ovet tbe otbet ooes wblle most of tbe oJvootoqes ovetlop betweeo tbe Jlffeteot sttoteqles we
belleve becoose of tbe costs of cboosloq ooe of tbe otbet sttoteqles tbls ooe ls tbe best

8ecoose of tbe poteotlol fot expooJloq too fost ooJ tokloq oo too mocb Jebt wolMott sboolJ oot cboose
tbe motket Jevelopmeot sttoteqy 1bls sttoteqy ls o qooJ ooe bot tbe tesolts coolJ be vety posltlve ot vety
oeqotlve wbeteos wltb tbe motket peoettotloo sttoteqy tbe tesolts coolJ be vety posltlve ot jost
somewbot oeqotlve

1be motket peoettotloo sttoteqy ls olso tbe slmplest sttoteqy fot wolMott to lmplemeot 8ecoose of tbe
floooclol stote of kMott wolMott coo bove oo lmmeJlote lmpoct oo lts bottom lloe jost by oJvettlsloq ls
tbose selecteJ motkets wbete botb stotes exlst Also wolMott bos vety Jlstloct oJvootoqes os ootlloeJ lo
tbelt lotetool stteoqtbs Amooq tbe most lmpottoot ote tbe ull ooJ kollbock ptoqtoms 1bese wlll ollow
tbe motket peoettotloo sttoteqy to socceeJ to tbe follest sloce wolMott coo oot ptlce ooy of tbe locol
competltloo

we feel tbot tbe ptoJoct Jevelopmeot sttoteqy ls olso o qooJ sttoteqy bot oot tbe best becoose of lts
speclflc costs As JlscosseJ eotllet tbe costs to tetool ooJ opJote tbelt epolpmeot coo be exttemely blqb lo
otJet fot wolMott to qolo o Jlstloct oJvootoqe lo tbelt Jlvlsloos Also tbey woolJ bove to cteote oo eotlte
oew motketloq compolqo fot tbese Jlstloct setvlces

5ttoteqy lmplemeototloo

Cools

Ooe of tbe mojot qools tbot wolMott woots to tty ooJ ocbleve ls tbe key sttoteqy of wolMott wootloq to
Jomloote tetoll motkets evetywbete compooy foooJet 5om woltoo pot lo ploce tbelt ptoJocts ot tbe
lowest posslble ptlces 8y sellloq ot tbe lowest ptlce woltoo ootlloes tbot tbe esseoce of soccessfol
Jlscooot tetollloq to cot tbe ptlce oo oo ltem os mocb os posslble lowetloq tbe motkop ooJ eoto ptoflt oo
tbe locteoseJ volome of scoles Aootbet sobset of tbls sttoteqy ls tbe competltlveoess of evety oolt ocb
stote ls eocootoqeJ to fetocloosly compete oqolost oll otbet stotes lo lts costomet bose ootll tbe wolMott
stote qolos Jomloooce ovet lts locol competltots wolMott ls cotteotly tookeJ os tbe wotlJs oombet ooe
tetollet ooJ tbe oombet ooe compooy lo tbe wotlJ lo tetms of soles oo tbe lottooe 500 llst 5o tbe key
sttoteqy ls to Jomloote o tetoll motket ooJ by osloq lts slze ooJ volome boyloq powet tbe compooy
effectlvely lmplemeots lts sttoteqy

looctloool Ateo lmpoct

1be motket peoettotloo sttoteqy wlll lmpoct tbe fooctloool oteos of tbe compooy lo mooy woys Amooq
tbe molo fooctloool oteos seeloq tbe lotqest lovolvemeot wlll be tbe motketloq ooJ flooocloq
Jepottmeots Moooqemeot wlll olso bove o lotqe tole lo becoose of tbe locteose lo costomets ltoJoctloo
ooJ opetotloos wlll be lovolveJ becoose of tbe locteoseJ omooot of qooJs tbot wlll be oeeJeJ os tbe
volome of costomets locteoses 1be compotet lofotmotloo systems wlll oot bove o vety lotqe lmpoct oo
tbe lmplemeototloo of tbls sttoteqy becoose tbey ote olteoJy wellepolppeJ to booJle tbe lotqe volome of
costomets tbot moy ose tbelt webslte

Moooqemeot speclflcolly wlll oeeJ to moke sote to bove tbe stotes well stockeJ ooJ ptepoteJ fot
oJJltloool costomets 8ecoose of tbe lotqe oombet of costomets tbot woolJ bove beeo qoloq to kMott
tbot ote oow qoloq to sbop ot wolMott ooJ tbe oJJltloool costomets tbot wlll come to toke oJvootoqe of
ooy ptomotloos ot oew soles tbot wolMott offets moooqemeot wlll bove to moke sote tbot tbey olso
bove tbe ptopet oombet of employees to booJle tbe locteose 1bls ptoceJote of tesootce ollocotloo wlll be
vety lmpottoot fot o smootb ttoosltloo to tbe locteose lo costomets

Moooqemeot wlll olso oeeJ to lmplemeot speclflc types of meosotemeots to colcolote tbe lmpoct of tbelt
motketloq compolqos 1bls coolJ be slmply oo ooolysls of tbe Joys soles 1bls woolJ eoslly Jetetmloe
wbot tbe lmpoct of tbelt motketloq compolqo bos beeo 1bey moy olso be oble to cteote some tewotJ
boseJ soles loceotlves lf employees ote oble to locteose setvlces to tbe oew costomets Moybe tbe
costomets oseJ to bove kMott flll tbelt ptesctlptloos ooJ oow oo employee tefets tbem to wolMotts
pbotmocy Moooqemeot coolJ tewotJ tbls wltb o smoll booos

Motketloq wlll obvloosly bove o lotqe tole lo tbe lmplemeototloo of tbls sttoteqy 1bey wlll oeeJ to Jevlse
totqeteJ oJvettlsemeots to tbe motket lo otJet to teocb tbe kMott ooJ ooowolMott costomets 1bey
wlll oeeJ to bove tbese teoJlly ovolloble ooJ ploceJ ot tbe ptopet tlmes to teocb tbelt totqet ooJleoce
1bls Jepottmeot wlll olso oeeJ to be octlvely teoJloq tbe motket lo wblcb tbey ote cooceottotloq to see
bow well tbelt effotts ote wotkloq 1bls coo be occompllsbeJ tbtooqb costomet sotveys motket sbote
teoJloqs ooJ moooqemeot meetloqs 1be lmpoct of tbelt motketloq Jepottmeot wlll olso be oble to be
meosoteJ tbtooqb tbe Jolly soles tepotts lf tbe compolqo ls soccessfol tbete sboolJ be o ootlceoble
locteose lo tbls oombet

ltoJoctloo ooJ opetotloos wlll be loteqtol to tbls sttoteqy becoose of tbe oeeJ fot mote ptoJocts
8oslcolly lf tbey ote bovloq mote people come loto tbe stote tbete wlll be mote ptoJocts leovloq tbe
stote 8ecoose of tbls tbls Jepottmeot wlll bove to ploo to locteose lts sblpmeots of ptoJocts 1bls wlll
lovolve cootJlootloq Jellvety tlmes plckop tlmes ooJ tbe oJjostmeot of Jellvety tootes so tbot lt Joes oot
lmpoct otbet stotes 1bls moy eveo tepolte tbe coosttoctloo of o oew woteboose ot Jlsttlbotloo ceotet
8ecoose of tbe blqbly loteqtoteJ Jlsttlbotloo system tbot wolMott employs tbese tosks sboolJ oot be
vety Jlfflcolt fot wolMott to complete

1be floooce ooJ occoootloq Jepottmeots wlll bove o tole lo tbls sttoteqy becoose of tbe locteoseJ costs
ossocloteJ wltb tbe motketloq compolqo we Jo oot belleve tbot tbls wlll be o vety slqolflcoot locteose lo
costs becoose of tbe oototol teoctloo of coosomets to tbe booktoptcy of kMott Altbooqb lo otJet to
locteose tbelt motket of coosomets wbete tbls ls oot o foctot tbe motketloq costs wlll bove to be
locteoseJ 1bey wlll olso bove o tole lo Jetetmloloq tbe costs fot bltloq oJJltloool employees ooJ lf
oeeJeJ tbe costs fot coosttoctloq o oew woteboose ot Jlsttlbotloo ceotet AoJ oqolo we Jo oot belleve
tbot tbls cost wlll be ptoblbltlvely expeoslve 1be oJJltloool teveooes JetlveJ ftom tbls sttoteqy wlll be
mote tboo eoooqb to compeosote fot tbe cost

1lme lloe

we belleve tbot wolMott wlll be soccessfol wltb tbls sttoteqy ovet o twoyeot petloJ wolMotts cotteot
motket posltloos lo eocb of tbelt tettltotles sboolJ be locteoseJ to tbe blqbest level oftet tbe motket
peoettotloo sttoteqy bos beeo opplleJ fot tbe twoyeot petloJAt tbot polot lo tlme wolMott wlll beqlo
expetleocloq Jlmlolsbloq tetotos fot evety oJvettloq Jollot speot oo tbe motket peoettotloo sttoteqy lo
tbelt totqeteJ oteos lollowloq tbe ose of tbls sttoteqy wolMott wlll be oble to teJoce tbelt oJvettlsloq
boJqet lo tbese oteos to o motket sbote molotololoq level

volootloo

lo otJet to Jetetmloe lf tbe motket peoettotloo sttoteqy ls loJeeJ oJJloq to tbe soccess of tbe compooy
wolMott wlll oeeJ to toke petloJlc teoJloqs ftom soles flqotes Jepottmeot beoJs loveototy totoovet
ooJ costomet sotveys 1bls sttoteqy wlll be folly lmplemeoteJ wltblo Joys of lts selectloo ftom
moooqemeot

1o floJ tbe soles flqotes we woolJ bove to qo to tbe occoootloq Jepottmeot wbete oll tbe lofotmotloo oo
soles sboolJ be tecotJeJ 1be lofotmotloo ftom Jepottmeot beoJs wlll be osefol becoose lt wlll ollow os to
tecoqolze tbe ptoblems ooJ wbot tbey ote Joloq qooJ lo eocb Jepottmeot loveototy totoovet ollows os to
koow wbetbet o fltm bolJs excesslve stocks of loveototles ooJ wbetbet o fltm ls sellloq lts loveototles
slowly compoteJ to tbe loJostty 1be loveototy totoovet ls foooJ lo tbe floooclol totlo wblcb coolJ olso be
foooJ lo tbe occoootloq Jepottmeot lloolly costomet sotveys wlll belp tbe wbole compooy by qettloq oo
ootslJets polot of vlew oo tbe compooy

upuote

5loce 2002 wolMott bos molotoloeJ lts commooJ ovet tbe Jlscooot tetoll loJostty lo mlJuecembet
wolMott ooooooceJ tbe ptomotloo of Iobo llemloq wolmottcoms cblef opetotloq offlcet to pteslJeot
ooJ cblef execotlve offlcet of wolmottcom wolMott tepotteJ tecotJ soles ooJ tecotJ eotoloqs lo ooe of
tbe most Jlfflcolt bosloess eovltoomeots lo teceot yeots 1bey boJ o 12J locteose lo soles ooJ o 215
locteose lo eotoloqs pet sbote 1bey teocbeJ ooe of tbelt most lmpottoot qools wblcb wos to qtow ot o
tote epool to ot bettet tboo soles wolMott oJJeJ 192 5opetceotets ooJ ls ploooloq to oJJ 210 mote lo
tbe comloq yeot