Wal-mart CEO-Leadership

By Thomas J. Stanley on Mar 8th, 2011 in Studying the Wealthy

In The Millionaire Mind, I mentioned that the millionaire population contains a disproportionately high concentration of people who told me that integrity is a critical factor in explaining their economic success.  “Being honest with all people” was tied [with being well disciplined] for first in regard to the percentage of millionaires who rated it as a very important reason for their success.” I was reminded of this while reading an interview with Mike Duke, the CEO of Wal-Mart.  He was asked “what should a leader value most?”  He answered:

Integrity and trust.  If a leader doesn’t have the trust of associates, of customers, of shareholders, then all the other things, to speak eloquently and to sing and dance and entertain, [don’t] mean a thing if a leader’s not trusted.

Mr. Duke’s profile is also congruent with many of the other characteristics of the millionaires I have studied.  He attended a public/state university; he majored in engineering, and he was raised in the South [the South along with the Midwest produces a disproportionately large share of millionaires].  Also, as I cited in Stop Acting Rich, those who are among the most productive in transforming income into wealth are likely to purchase apparel at Wal-mart! 

2 responses to “Wal-mart CEO-Leadership”

  1. Ryan Schon says:

    It is interesting that the research bears out that millionaires tend to have integrity and trust yet those who aren’t try to project the opposite characteristics upon them.

  2. Stephanie Jupiter says:

    Dr. Stanley first of all I would like to say thank you for your continued excellence of work. I have heard about your books for years however I have never read them. I just started reading millionaire mind this week. Bravo! So many light bulbs went on in my head. I am a life long student and researcher of the most powerful people on the planet. One consistent factor that I have found to be prevelant among all powerful people is an extraordinary level of inner peace. To me having inner peace is the foundation for being able to live a life of intergity and trust. I am only on page 36 of your book and I look forward to completing and reading more of your work. Peace.

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