Black Friday may bring out the holiday shopping crowds, but Cyber Monday is increasingly generating the biggest bucks for retailers as consumers hop online to make merry and find gifts for the holidays. According to data from IBM Coremetrics and comScore, Cyber Monday sales rose 20% in 2010 and topped $1 billion in online spending—the first year ever that Cyber Monday bested the sales generated on Black Friday, which totaled $648 million last year.

This year, experts predict Cyber Monday sales will also rise significantly thanks to a host of new online shopping apps and consumers’ growing comfort with technology. If you’d rather shop online from the comfort and convenience of your own home, take these unique steps to make the most of your holiday shopping on Cyber Monday.

Get On the List

The single best strategy to unearth Cyber Monday bargains early is to get on a good deals list put together by experts who are tracking retailers’ offers. Dealnews.com is hot on the case this year. By Monday night, the site already had information about “leaked” Black Friday ads with both rumored and confirmed deals from such retailers as Amazon, Best Buy, Costco, Lowes, Sears, Target and Wal-Mart.

To get email, text alerts or an RSS feed about Black Friday or Cyber Monday deals sent to you, all you have to do is provide Dealnews.com and other sites like it with your email address. Dealnews.com also has a free Black Friday app available for iPhone and Android users.

Forget Monday—Get Online Thanksgiving Day or Black Friday

Here’s one Cyber Monday strategy that may not have occurred to you: Get online early—as in, a couple of days early (like right now). According to the experts at Dealnews.com, if you start hunting online for must-have holiday gift items on Cyber Monday, you risk being sorely disappointed and getting just “leftovers.”

“For those of you who’d rather fully digest your Thanksgiving meal and not stand on line starting at 3am on Black Friday, we understand. Shopping for the best deals can be exhausting, but if you wait until Cyber Monday you will be missing out on some of the highest markdowns of the holiday season,” the staff at Dealnews.com recently wrote, in giving consumers holiday shopping pointers.

“Coming out of your tryptophan daze on Monday, you’ll definitely see retailers’ sales, but these bargains are essentially the leftovers from the Black Friday feast. Plus, many Friday offerings will be available online, so you really have no excuse for a late start,” Dealnews.com experts added.

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Consider Buying Discounted Gift Cards Online

Instead of purchasing physical gifts, many people will buy family members, friends or co-workers gift cards for the holidays. In fact, according to the TD Bank Holiday Shopping Poll, 64% of respondents said they plan to purchase gift cards this year.

“With the majority of consumers looking to spend the same as last year, gift cards are a perfect option to keep holiday spending in check,” says Nandita Bakhshi, Executive Vice President, Head of Products, TD Bank. “Giving a gift card reduces shopping stress, you spend exactly what you intend to, and are less likely to get caught up in the season and spend more money than planned.”

But one reality about gift cards is that they often go unused. As a gift-giver, that can work to your favor since an ongoing supply of unused gift cards means that you don’t have to spend $50 to get someone a $50 gift card. In fact, there are thousands of discounted unused gift cards available for purchase at savings of up to 30% off the face amount of the gift card.

Here’s how it works. You have the option to buy a discounted gift card through reputable gift card depots or an online gift card network such as CardHub.com’s Gift Card Exchange, which is the largest in the country. While online, you’ll see a slew of retail gifts cards, including Target, GameStop, iTunes gift cards, and more. You simply decide on the store and see what gift card amounts are available and at what discount. As of Monday evening, on Card Hub’s Gift Card Exchange, there was a $50 H&M gift card being offered for $40, a 20% savings; a $40 Barnes & Noble gift card available for $30, a 25% discount; and a $200 Home Depot gift card being sold for $140, a 30% discount.

“The beauty of buying someone a discounted gift card is that they’ll never know you paid up to 30% less than face value for it,” says Card Hub CEO Odysseas Papadimitriou. He adds: “As far as they’re concerned, a gift card’s value is equal to the amount of money it has on it, and not a penny less.”

Card Hub also lets consumers sell their unused gift cards for cash, which could come in handy if you need a few extra bucks for holiday shopping on Black Friday or Cyber Monday.

Snag Extra Perks With Your Rewards Credit Card

Speaking of cards, it’s safer to use a credit card online than a debit card because you get greater protections against fraud and you can dispute unauthorized charges. You may also get bonus rewards depending on the plastic you choose to use. And major credit card issuers are pulling out all the stops to woo their cardholders on Cyber Monday and in the days leading up to it.

For instance, American Express is offering 5X rewards through the New Year, as well as a host of deals for Cyber Week (November 21- November 30). Capital One is tempting its customers with the chance to earn 40-100% more rewards on purchases made through its Perk Central online shopping portal from November 25 through November 28.

Case in point: some of the bonus rewards offered through Perk Central from Black Friday through Cyber Monday include:

• Deals for the Fashionista: Landsend.com (100% rewards increase), Macys.com (40% rewards increase)
• Deals for the Techie: Lenovo.com (100% rewards increase), TigerDirect.com (67% rewards increase)
• Deals for those with Kids: Lego.com (100% rewards increase), Gamestop.com (40% rewards increase)

Chase and Discover have special holiday-shopping promotions, too.

Don’t Forget Cyber Safety

While you’re salivating over holiday bargains, don’t forget to exercise some basic online shopping safety, too. A recent TransUnion survey found 74% of Americans surveyed plan to do at least some of their holiday shopping online. At the same time, 35% of Americans surveyed said they were more afraid of becoming the victim of identity theft during the holiday shopping season.

To avoid this problem, use the following strategies.

Before you start Web surfing on Cyber Monday or earlier, consider changing your account passwords and keep a list of them in a secure place. For your passwords and PIN numbers, select a random mix of letters, numbers and special characters, making it harder for identity thieves to victimize you. Don’t make the mistake of using your address, date of birth or something else that could be easily guessed.

Also, only shop at trusted sites and before you make an online purchase look for an “s” in the address box (i.e. https://), which indicates that it’s a secure site.

Finally, since you may be shopping at many sites or may be subjected to a lot of pop-up ads and other things, it’s best to make sure your computer has spam filters, anti-virus and anti-spyware software and a secure firewall.

Shopping online during Cyber Monday can be fun and convenient, but take care to make your Web-based holiday shopping safe, too.

Watch below to see which Black-owned businesses folks are supporting this holiday season

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It’s official, recession or not, Americans are going to be out in full force shopping and spending on Black Friday, the day after Thanksgiving. If you’re one of the 74 million consumers expected to open your wallet for the official start of the holiday gift-buying season, follow these tips to score the best Black Friday deals—and to avoid several financial pitfalls lurking on Black Friday.

HOW TO FIND THE LOWEST PRICES

First, here are a few pointers on how to get the best bargains, no matter what you’re buying.

Tip #1: Let Technology Be Your Guide
You could run yourself ragged driving all over town trying to find the best deals come Black Friday. Or, you could take the safer and saner route and let technology save you a lot of time, trouble and money.

Two of the best ways to use technology for holiday shopping are:

• 1) Sign up for deal websites that blast promos, new ads and special offers. Two good picks are Dealnews.com and 2011BlackFridayAds.com. Simply supply your email and these sites will tell you about new deals as retailers announce them.
• 2) Download various shopping apps to your mobile phone. This way, if you’re already out at a store, you can find any special deals, coupons or other bargains you might not have discovered on your own. Many retailers now offer their own apps, so check your favorite stores. But some of the best all-purpose, holiday-shopping apps come compliments of TheFind, Coupon Sherpa and FatWallet.

Tip #2: Ask For a Price Match
Have you been scouring Websites, tracking local circulars and advertisements or visiting stores in search of the best prices on clothing, holiday toys or electronics? Well, if you see something you want at one store but you’re shopping in a different establishment, always ask the manager or even a store clerk if they’ll match a lower price you’ve found elsewhere.

In many cases, you have to provide proof of a cheaper price, in the form of a published ad. But if you do show that a competitor is offering the same goods at a lower price that will almost certainly net you a price match from most merchants on Black Friday.

Tip #3: Don’t Be Afraid to Negotiate
For some reason, when consumers see a price listed in black in white, they automatically accept that price as “gospel.” But there’s nothing that prevents you from asking for an even lower price. Believe it or not, many retailers are eager to do deals and move inventory on Black Friday, so they’ll take 5% or even 10% extra off the lowest listed price based on any number of factors.

The most common things that will get you an even lower price are: if you offer to pay in cash, instead of credit; if you’re buying in bulk or are buying more than one item (especially high-priced goods); or if you’re interested in getting any merchandise that’s slightly damaged, irregular, or is part of a retailer’s floor model.

Tip #4: Use Those Coupons
There’s no shame in shopping with coupons, especially if you’re buying expensive merchandise. So when you walk into a retail store, always ask if they have a coupon book, or a circular that highlights goods on sale or merchandise for which you might use a coupon. If you’re somewhere that is offering a coupon and you don’t have one, ask the manager for one. They’ll often have extra coupons on hand, or will simply ring up the discount for you.

This happened to me recently at the Kohl’s store near my home. My family had a coupon for 15% off everything in the store, but my husband had it and he wasn’t with me. I tried to get him to scan and email it to my phone so I would have the bar code on the coupon to show the manager or cashier. But when the email didn’t come in, due to poor phone reception, the manager simply went in the back and found a 15% coupon for me. That single moved saved me more than $40 off my bill—and reminded me why I love shopping at Kohl’s.

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WHERE THE DEALS ARE

Now let’s talk about which retailers are offering big “door buster” sales and other in-store promotions on Black Friday. If you’ve got kids, Toys “R” Us is probably high on the list of places to hit. And this year, for the first time ever, Toys “R” Us will open its doors at 9pm on Thanksgiving night.

Meanwhile, a slew of other stores, including Best Buy, Gap, Kohl’s, Macy’s and Target will all be open for business at midnight.

In fact, all this week, each of these retailers is currently offering pre-Thanksgiving specials with discounts averaging 20-40% off regular prices. It’s the latest in the trend toward earlier and earlier Black Friday deals. So much for waiting until the traditional 5am rush at WalMart, which will also have its own bargains on display early, and is opening at 10pm on Thanksgiving.

Most retailers don’t officially release their Black Friday deals until the day before Thanksgiving. But if past trends hold true, deals of 50-70% off will be common.

THE FREEBIES AND DEALS WAITING IN YOUR WALLET

No matter which stores you hit, there may be another way to purchase holiday gifts without actually dipping into your savings account or using your credit cards. It’s by cashing in rewards points that you may have racked up based on your past spending.

According to a survey called the Capital One Rewards Barometer, 75% of consumers are unaware that some credit card rewards issuers offer special deals during the Black Friday shopping frenzy. And since only 16% of those polled plan to redeem rewards for holiday gifts this season, this suggests that many Americans on a budget may be underutilizing this rewards points-for-gifts option.

AVOID THESE BLACK FRIDAY TRAPS

Now that you know how and where to nab those rock-bottom deals, be sure that you don’t blow it financially by getting sucked into two Black Friday “deals” that are best avoided.

The first so-called deal to avoid is the extended warranty or insurance plan that retailers will be offering left and right. If you buy any electronics, household appliances or gadgets, you will definitely be pitched relatively expensive insurance (10% of more of the purchase price) to “protect” the product. Such coverage is generally a bad deal, so you should just say “no” to it and not waste your money.

Besides, your credit card may offer you some extended protection. Also, if the merchandise you buy does have problems down the road, chances are the insurance you’re being encouraged to buy won’t replace the item with a brand new product, but only with something of lesser value or a refurbished model.

The other financial trap you need to be aware of on Black Friday is the proliferation of retail store credit cards you’ll be offered. Invariably, some nice lady or cashier ringing up your purchases will ask: “Would you like to save 10% off your purchase today?” Again, your answer should be “no.”

Store credit cards carry higher interest rates than do national brand cards, such as a Visa or MasterCard. Additionally, every time you apply for a new department store card, that triggers a “hard inquiry” on your credit report, which lowers your credit score.

So, do yourself a favor and follow these tips for enjoying Black Friday shopping that doesn’t bust your budget—and doesn’t hurt your credit rating either.

Watch below to see which Black-owned businesses folks are supporting this holiday season

Ruben Studdard

Now, Studdard is on a mission to help others in his community adopt a healthier lifestyle. This weekend (November 18-20), he’ll be hosting the Ruben Studdard Celebration Weekend, a music and fitness festival, in his hometown of Birmingham, Alabama. The event will also include a series of marquee running events—a half marathon, a 5K run and the “Linn Park Lap,” a short fun run/walk for all ages—that Studdard himself will participate in. BlackEnterprise.com spoke with the singer about the event, his inspiration for getting healthy, the influx of music-based reality TV shows, and working with Heavy D on Studdard’s upcoming album, tentatively titled Letters From Birmingham.

How did the idea for the Ruben Studdard Celebration Weekend come about?

It came about when I was on the Clay [Aiken] tour. I was working with a trainer so I could have my stamina on stage and he knew this guy who puts together big events for health and fitness, and he said, “It’d be cool if you put together something like this for your foundation.” We talked about it and solidified something, and it finally came up.

What are the specifics of the weekend?

We’re having a huge casino night [tonight] to benefit the Ruben Studdard Foundation for the Advancement of Children in the Music Arts. Saturday, we’re having registration for the race. Sunday, we’re having the fitness festival with a 5K fun run and the half marathon for the serious runners. It’s just going to be a great event. We’re having a big concert after the race, so it’s going to be fun… The whole thing is centered around music and having a great time with the community at large. We’re doing something that most people in Alabama wouldn’t be doing; it’s something out of the norm.

We have a lot of great races here, but we try to target people that normally don’t get out and run and bring them out for a fun event. It’s not only a run, but it’s an event that directly benefits the children in the music departments here in Birmingham and in the state of Alabama. We get back with sheet music at music camps and all those things, so we’re looking forward to giving people the opportunity to help us help the kids.

In addition to your training you became a vegetarian, when did that lifestyle change start?

I became a vegetarian about three years ago. It was different, but I just wanted to do something completely different. I wanted to eat differently, and it’s really worked for me, brother.

How much weight have you lost in the process?

During the process of a couple of years, I’ve lost about 70 pounds by becoming a vegetarian, eating healthier, working out and running. It’s an ongoing thing. It’ll never be something I have to stop doing. I’m a larger guy, so I have to always make sure I stay on top of that.

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Your big break came via American Idol. What are some pros and cons of being discovered on TV?

You know what? Honestly, people always ask me this question, and to me, there were no cons. Everything was all pro for me. I had been trying since I was 11 to break into the industry through traditional means of shopping demos and all that stuff, and nothing really worked for me. American Idol was my catalyst.

I think the most difficult thing about being on the show is that everything is so fast-paced. There’s really no time to get used to it. People who get traditional record deals have time to get used to the build-up of people recognizing who they are, but with American Idol, it’s one day you’re living in obscurity and the next day you’re famous. That was the biggest shock to my system, figuring out, “Wow, I really can’t go to Wal-Mart by myself anymore.” [laughs] It’s funny, because Wal-Mart is my favorite store and I still go. I catch myself jumping when people call my name out, because my whole life, I’ve gotten used to being able to do those kinds of things without being recognized. That was the biggest shock to my system, but everything else was a blessing—from the opportunity to work with Clive Davis to working with the biggest songwriters and producers in the industry.

Since American Idol, there have been a lot more music-based reality shows. What do you think about that trend?

People enjoy watching people sing on TV. It just is what it is. I can remember how fond of Star Search I was when I was a kid. The networks have really caught onto that. American Idol was such a huge success that people have really tried to emulate that. It doesn’t surprise me that several people have done their own versions. I actually enjoy some of the shows. I really like Sing Off; Simon [Cowell]’s new show X-Factor is cool. But I really, really like Sing Off, because it reminds me of being in choir in high school and college.

Have you had to do anything after American Idol to rebrand yourself and your image, from being seen as a reality TV contestant to who you are as an artist in the eyes of the public?

I was just me, man. A lot of people try to sort of get away from that brand, but the show is what made people know who I am, so I never try to disassociate myself with that brand or being a part of that show. Of course, I’m older than I was when I was on the show. I’m way past 24 now; that was almost 10 years ago. So my subject matter is different, because I’ve had so many different life experiences, but I’ve just been great.

How is your new album coming along so far?

I’ve been working on it for about six months. It’s a really good album and it’s ready to come out. I think we’re going to release it at the end of February, and hopefully we can have some really great success with it.

Will you be taking a new direction musically on this project?

This is the first album where I’ve only worked with one producer and one writer, so it’s kind of like going back to the days when Gamble and Huff would do people’s whole albums. Or Holland-Dozier-Holland did a whole album for Motown. Same concept. We just wanted to do a great album, and we wanted the sound to be consistent and we didn’t want it to be all over the place. It really turned out exactly how we envisioned it.

Are there any songs in particular that stand out to you?

The whole album is crazy, but I have a guest appearance on there from Heavy D. Growing up, he was one of my idols. I was a huge fan of his work, and I’ve been a fan forever, so to get him on the album was a blessing. I have a duet with Chrisette Michele, which is crazy. I’ve got my girl K. Michelle on the album. It’s just a great album, it’s good music.

Are you pleased with the trajectory of your career thus far?

I told God my whole life that I wanted to sing and for music to be my career, and it’s become that. It’s had its ups and downs, and I embrace everything about the journey. I look at the careers of all the greats, and nobody’s careers I’ve seen come up has been on 100 the whole time. There are always peaks and valleys. So I’ve been able to sustain through the peaks and through the valleys. This is my fifth studio album in eight years, and a lot of people don’t even make it past the first one. So it’s a blessing.

Margaret Garner

Margaret Garner, president of Broadway Consolidated Cos. Inc., a general contracting firm based in Chicago, holds a portfolio worth bragging about—nearly $10 million annually—thanks to her partnership with Wal-Mart Stores Inc. When the retail giant entered Chicago’s 37th ward around 2004 to construct its first store in an urban location, it sought assistance from local minority and women-owned businesses. Garner, whose firm is 8(a) certified, was selected to manage the project, becoming the first African American woman  to construct a Walmart store.

It wasn’t an easy undertaking, but when challenges with the project arose, Garner was able to solicit help. “I had direct access to all the levels of decision makers within the construction division so I had immediate conflict resolution,” she says. Wal-Mart’s mentoring enabled Garner to successfully complete the 150,000-square-foot, two-story retail store in September 2005. Since then, she has constructed another Wal-Mart property, Sam’s Club, which she completed in October 2008.

Mentoring programs help small minority companies learn about a company’s culture and expectations, develop a stronger network, and address their weak functional areas with corporate expertise, thereby learning what it takes to become better and more competitive suppliers. For corporations, mentoring minority suppliers means “building stronger suppliers for their supply chain,” explains Harriet R. Michel, president of the National Minority Supplier Development Council. According to the NMSDC, its corporate members purchased $104.7 billion in products and services from NMSDC-certified minority suppliers in 2007.

Wal-Mart’s supplier diversity program began in 1994 and is currently doing business with more than 2,500 minority suppliers. It does not have a formal mentoring curriculum but its initiatives, include initiating mentor and protégé relationships with existing suppliers and providing guidance to the suppliers on a one-on-one basis.

While Wal-Mart is a fairly recent player in corporate mentoring, a veteran is IBM, whose mentoring program began in 1968. In 2003, the firm partnered with the Tuck School of Business at Dartmouth College where during a three-day retreat IBM executives are paired with diverse suppliers for 18 months, and required to meet at least twice on a monthly basis.

IBM also hosts the Tuck-WBENC (Women’s Business Enterprise National Council) Executive Exchange program, an intensive, five-day executive development program for up to 60 women CEOs.

Wal-Mart works with its suppliers to identify  companies that have the potential to continue to grow to scale with the company over time, however, one of the biggest challenges for small businesses is scalability, explains Anthony Soto, Wal-Mart’s director of supplier diversity. Often, many small firms do not have the capacity to meet increased demands for their products or services.

At IBM, Michael K. Robinson, director of the global supplier diversity program, says because of challenges in the economy minority-owned businesses need to pursue broader areas for supplier opportunities. “Many suppliers are in the service area because the cost of entry is low,” he says, “but I emphasize to diverse suppliers to go into the manufacturing area, where it is low competition [and room] to create joint ventures.”

Small businesses interested in a supplier contract with a corporation and mentorship, should be familiar with the company’s competition, customer base, and growth areas, and be able to demonstrate how their services can further the business interests of that company.
For more information on mentoring opportunities, visit www.walmartstores.com and www.ibm.com.

This article originally appeared in the December 2009 issue of Black Enterprise magazine.

Executive Vice President for People Susan Chambers, who introduced Jordan to the audience, used his appearance as an opportunity to fire up Wal-Mart associates and share his views on winning. Here’s her questions and his responses about what it takes to win:

Chambers: With all your achievements, how do you strive to do more?

Jordan: Hard work…desire to win, work hard, make people proud.I’ve developed relationships over the years with Nike, Hanes and Gatorade and I have continued to maintain them. I operate the same way in life that I’ve done on the basketball court.

How do you balance being an outstanding individual performer and being part of a team?

I always tried to be the best basketball player I could be, but I couldn’t win without a strong team. It’s just like Wal-Mart; all of you need a strong team to win.

You have a strong history for community service, share with us what motivated you to do such work?

My motivation came from my parents, and that gave me the belief that it was okay to help others. I’ve always held the vision that no matter how high I went, I would always help others.

Derek T. Dingle is the editor-in-chief of Black Enterprise magazine

I must tell you that the operations and staff were quite impressive. For one, no matter the division, Wal-Mart “associates”, as all employees are called, greet you with a welcoming smile,  a firm handshake and a need to serve — an approach that owes more to the corporate DNA than Southern hospitality. It was a part of the Wal-Mart culture and its magic revenue-building formula.

As I spent my day shuttled from location to location, I gained valuable lessons related to business success — some that I believe companies, large and small, can use to increase viability and longevity.

Focus on efficiency. For roughly two hours, Alfred and I toured the sprawling, 1.2 million-square foot Bentonville distribution center. One of 147 such centers across the nation, it is the model of efficiency, shipping 600,000 cases of products a day to 120 stores in Arkansas, Missouri, Oklahoma and Texas. How is this feat achieved with 99.9 percent accuracy and an OSHA safety track record of less that two accidents per 200,000 man hours? The 12 miles of conveyor belts and sortation process that tracks inventory and designates appropriate outlets are made functional through a comprehensive, just-in-time system driven by the latest technology. But the company has always understood and embraced innovation for inventory control and sales management. In 1966, Walton wooed employees away from IBM because he knew such talent could help create efficiencies in product selection, store orders and outlet deliveries. In short, reduce costs and boost sales. “We help stores keep perpetual inventory correct and, as a result, stores keep orders correct,” says Mike McClemore, a 20-year veteran who serves as regional vice president of logistics. And the effective use of technology saves on manpower: since 1991, the distribution center has reduced head count from 1,200 to 700.

 

Don Frieson

Be Obsessed With Your Customer. When our group visited “Store No. 1″ — one of the first locations in Rogers, Arkansas — Don Frieson, divisional vice president for the central region and one of the company’s highest-ranking black executives, shared an aspect of the retail strategy.  The company is in the process of upgrading 600 or so stores, he says, as part of Project Impact to “make differences in our stores’ footprints so that they will be cleaner, faster and friendlier.” The Rogers store, he asserts, has been revamped to “pull that experience together.” Palettes of products that once filled aisles — known as “action alleys” — have been cleared to make the store less cluttered and more accessible. Sections of the store — sporting goods, groceries and home and office products, to name a few — are now color-coded. Products with the greatest sales volume — in this case, electronics — have been given more floor and shelf space. How did they arrive at these modifications? Loads of research, including caller surveys, customer focus groups and third-party analysis. Besides the redesign, there’s been an increased emphasis on the price, quality and relevance of products to female consumers who make 60 percent of the household purchasing decisions. Says company spokesman Lorenzo Lopez: “We have to continue to upgrade our look and services. Price may bring people to our stores in tough times. When the economy recovers, it will be the experience that keeps them coming back.”

At Sam’s Club, its Small Business Division took a slightly different tack. Realizing the shifting demands for entrepreneurs, they created their version of an economic stimulus plan by creating a cost-savings drive for small business customers The goal: collective savings of $270 million for 100,000 businesses by identifying less expensive products and services. In less than four months, they hit their target, trimming thousands for more than 115,000 enterprises nationwide.

 

Betty Marshall

Empower Your Employees. Wal-Mart believes in being clear and consistent when sharing processes, strategies and objectives with employees. And in terms of  international acquisitions of retail outlets for instance, associates know that in breaking new territories they must meet  three criteria: portfolio optimization, global leverage and development of a winning market-share strategy. Another example of this immersion culture is the 6 to 8 weeks of training that’s required of employees hired as distribution center loaders. And those in retail operations must push customers on products that enable them to “save money, live better.” In order for employees to fully adopt the Wal-Mart Way, managers spend hours drilling these philosophies and practices are drilled into them. “They share more information here than any company I’ve been with. It makes you better at what you do,” says Regional General Manager Betty Marshall whose business card doubles as a Sam’s Club membership application.

Wal-Mart also makes sure that it has ties to the community and embraces environment sustainability measures. The impact of their business practices has been clearly demonstrated in their financial performance over the past five years: From fiscal year 2005 to fiscal year 2009, the compounded annual sales growth rate was 9.2%  and free cash flow expanded a whopping 48.3%  each year over the same period, from $2.4 billion in FY 2005 to $11.6 billion.

By adopting such traits, your company may be able to gain market share or boost revenues. But it doesn’t happen by chance; you must be focused on what you seek to achieve and the elements needed to get there. The Wal-Mart Way, however, may offer a few clues on how you can blend your own ingredients for business success.

Click here to see the June 5, 2009, 7:00 a.m. (CST) webcast of Wal-Mart’s Annual Shareholder’s Meeting.

Derek T. Dingle is the editor-in-chief of Black Enterprise magazine.

Quinn’s declaration was part of a succession of speakers at Rev. Jesse Jackson Sr.’s 12th Annual Rainbow/PUSH Wall Street Project Economic Summit held in New York City.

Residents of the New York’s five boroughs can stop holding their breath for the megastore. The ultra low price one-stop shop has long been a documented transgressor of laborer rights. On Dec. 24 the company agreed to pay a staggering $640 million to settle the majority of 76 suits alleging the company habitually underpaid its employees.

It’s been reported that store managers were told to report any attempts by workers to organize by calling Wal-Mart’s Union Hotline at headquarters, says Human Rights Watch. The company responded by sending out its Labor Relations Team almost immediately to squash the organizing effort.

“They are a company that offers low prices at the expense of workers,” Quinn said.

In light of an increasingly globalizing society and the global economic crisis speakers warned that laborers rights should not diminish.

“We cannot leave it up to the White House to speak for workers,” said Roger Touissant, president of the Transit Workers Union Local 100. Unions have come under greater watch as U.S. automakers seek a government bailout to stay afloat. For years automakers have sought to restructure labor agreements, which have been viewed as putting companies at a disadvantage compared to foreign competitors because of costly healthcare and pension plans.