[Vision2020] Economics of Business

[Jeff Harkins]

Speculation and opinion as a powerful economic analysis tool!  Indeed!

But hard cutting analysis will win every time - and our local 
experience cuts through the chaff.

Since WalMart arrived (they are an existing business) in Moscow, 
TriState (another big box entity) has expanded, Spence Hardware 
opened, Moscow Building Supply expanded, Hastings opened, Staples 
opened, Office Depot opened, Applebee's opened, Sangria opened, the 
Dollar Store opened, Winco opened, a new motel was built, 
professional services buildings have opened - and on and on.

The same subjective "fear-based" rhetoric was launched before Walmart 
opened here. They were wrong-minded then and they are wrong-minded 
now.  Why? Because the results were positive for the consumer - more 
choices, better prices.  Walmart is the third or fourth largest 
employer in Moscow (a bit over 200 folks).

If you don't like Walmart, don't shop there.  And if you can persuade 
enough people not to shop there, the store will close.  But the fact 
is Walmart is the leading retailer in the US.  Consumers 
overwhelmingly choose Walmart as a preferred shopping choice.

On the other hand, in our economic system, no business has an 
absolute right to exist simply because it exists.  A business earns 
its right to exist by meeting customers' needs and wants.  A 
successful business must expect to compete - or become extinct.  The 
marketplace is a tough place - and most unforgiving - there are no 
timeouts.  But if you satisfy or exceed your customers' expectations 
and you have positioned yourself in the proper distribution channel 
and you have organized your factors of production carefully, you have 
a chance to succeed. Evolve and adapt or die.  Tough love - but this 
system has served us well since the industrial revolution and will 
continue to do so!