Does this sound familiar?
“Walmart management carefully cultivated influential relationships and donated [lots of money] to local charities. This helped Walmart gain acceptance and smoothed the way for the opening of some superstores and Sam’s Club units.”
Can’t blame you if you thought this was another quote about Walmart’s cynical use of the Walmart Foundation to advance the company’s U.S. business goals. But this actually comes from Walter Loeb’s recent piece for Forbes about Walmart’s scheme to grow its business in China. Looks like Walmart is trying to apply the same “philanthropy” strategy that it uses as “a lever” here at home to its plans to expand in China.
Will this tactic be more successful for Walmart in China than it was in New York?