Doug McMillon: Our Future: Now. New. Always.

Below are excerpts from Doug McMillon's keynote speech at the 2014 Shareholder's Meeting:

            The foundation of our company is strong. We have dedicated, talented, and creative people, and we have the resources to become even stronger.

Our Future
            So, where do we go from here? First, we will be a customer-driven company. We've always said the customer is our boss ...and we'll make decisions based on how we can serve them better. Second, we will invest in our people. As we change and grow, it will be our associates who will make the difference. Finally, we need to be at the forefront of innovation and technology. We will lead with urgency to get ahead of change.

Running Better Stores Now
            Every single one of us has a role to play in getting better right here, right now, today. It's pretty straightforward – we need stores that customers want to shop... with merchandise they want to buy. Price leadership. Strong in stock. Friendly customer service. Compelling merchandise. Items that surprise and delight. Merchandise that is presented aggressively. When we're at our best, the features in our stores anticipate what our customers want and need. They don't need a shopping list. They come in for basics, but they leave with new cushions for their patio set or a great new pair of shorts for summer. And they love doing it. It's fun! We must be stronger merchants, and we will work together to make it happen.

Developing New Capabilities
 

           We will also develop new capabilities to serve customers in new ways. It is important that we all understand the shift that has happened in technology and retail, what it means for us, and what we're doing to win. For years, our data has helped us run our stores around the world. Now, it is helping us personalize the shopping experience in ways that let us serve customers even better. The opportunity is enormous. It feels like it's only limited by our imaginations.  To do all of this, we need to move – fast. That's why we're piloting so many ideas around the world. And to bring all of this to life, we're investing in our people. I'm proud of the jobs and opportunities we offer, and we can do an even better job of creating opportunities to learn and grow. We'll prepare our associates to serve customers better, while building the careers you want at Walmart.   

Walmart, Always
            Finally, let's talk about always – the things that are constant.  I'll start with our purpose. We save people money so they can live better. This is a noble pursuit.  It's real. We help parents afford new clothes for school, put healthier meals on the table, and save for their child's education or a rainy day.

Our values won't change. Integrity, Service, Respect and Excellence. These are our guiding beliefs, and our behaviors will support those beliefs. Our culture is what makes us special. It's what makes us different. We must nurture it and reward those who live it. We believe in Walmart's responsibility to lead on big issues, in big ways. It's one of the reasons many of us love being part of Walmart. There are so many ways that Walmart can make a difference around the world. We're committed to doing just that. We will strengthen the trust we've established with customers and the communities we serve.

Closing
            I want to close by speaking directly and personally to every Walmart associate. To every associate in this room. To every associate on the sales floor, the back room or in a DC. To every associate writing code or hauling freight. I want you to feel the same excitement that I feel. I want you to see the same possibilities that I see. I want you to know in your heart, like I do, that our future is bright. We have the foundation and the people, and we know how we're going to win.  I know it's easy to look at everything that's going on and wonder what Sam would think about things like mobile apps, grocery delivery, or 3D printing.

            So I'll leave you with a few words from Sam himself. He said:

"I've made it my own personal mission to ensure that constant change is a vital part of the Walmart culture itself. I've forced change sometimes for change's sake alone at every turn in our company's development. In fact, I think one of the greatest strengths of Walmart's ingrained culture is the ability to drop everything and turn on a dime."

           Turn on a dime!

            So what would Sam say about our opportunity? He'd say: go! He might even say: hurry up!

We won't let him down. Thank you.