1. What if Walmart wanted to consider to come to Europe … ? What needs to be done before Walmart managers make a move on it? …. questions?

2. Research.. economic data GDP growth -> is there a recession? -> what is GDP? GDP … the value of goods and services produced and provided within a country in a year. Nominal or real GDP? First look for nominal GDP (define!!) and then change to real GDP (define!!) – how much of what has been produced within a year -> OK but what does it mean for us? When real GDP grows, is it the case that everyone has a tendency to buy more of everything? No. What does it depend on? It depends on the region (local preferences of buyers), tradition, ………….. So what is the PPP? -> inflation/deflation? Other macroeconomic data?

3. Research.. economic data How many products can we expect to sell? How many buyers are there in the region in question? (population demographics?) Only now? How many people will live there in the future? How do we find out? By going into the history. (Czech Statistical Dept.) Salaries (wages), unemployment rates in the country/region in question -> what do salaries (wages) affect directly in our business? What currency to sell in? When is this important? For Walmart, what do they buy and where from? When importing from suppliers around Europe into CZ -> ………………………….? What currency do they use to make payment for the imports? What currency do they sell in? What currency and which country do they keep their money in ?? Where to pay taxes? How much do we expect to pay? When do we pay taxes? When and where does Walmart pay taxes? How much do they have to keep and in which country?

4. Microeconomic (market data) So what Walmart products does it concern? (market research) Which of these products do we (Walmart) have? What types of products? Are all luxury? Or …………………. ? PPPP? What location? Where do we find the data? Primary and secondary data. Competition? Number of competitors? Size of competitors? Distribution of competitors? => aren’t we by any chance in a monopolistic competition?? I hope not a monopoly or oligopoly? Or …………………………… ? How did it look 5 years ago? How does it look now? What about 2 years from now? Look at Nokia.. Once was a leader and then ………………… Why did that happen?

5. Cultural differences Why did Walmart fail in Germany? Was it because they couldn’t adapt to the culture? Isn’t this cultural-difference awareness? Can we find a proper expression? What could have they done to adapt? Was it too late when they tried to change the policies? (timing? Or even is it they had no consideration for this?) Could they change the cultural policies (American polices) and still be successful? How can they manage culture shock? Did they do enough research about the German or South Korean culture? If Walmart tried to re enter the market, would people accept it? Even if they adapt to the culture, do Europeans prefer to buy in a local store? (cultural habits tied to one’s own preferences) (owned by Europeans not American retailer)

6. Cultural differences linked to what? How does CE culture affect buying behavior? Tradition? …… Do people prefer to buy in specialized stores or big department stores? (buying behavior, preferences … ?) Consumer expectations? Should Walmart give away free plastic bags and have a person standing at the cashier to put the goods in the bags? Language differences? What language to choose? Who will do the translation of our e-shop and websites?

7. Legal issues? Legislation? Environmental What is the warranty period? (prescribed by the law) Is there a legal chance to provide extended warranty as a third party? (extra insurance) Any license needed to operate? How to treat HR? Labor law? What else? ……………………