I definitely think this is a great move for Walmart as it shows their leadership in terms of trying to help out young talent. How many other successful companies do you see out there trying to support the entrepreneurs of tomorrow?
Walmart, being probably the most successful brand of all time, is definitely a company that young leaders would want to get advice from and so this is such a great way for them to give back and share their knowledge.
Like the extremely successful TV show "Dragon's Den", this idea is also a good way for young entrepreneurs to be provided the funds in order to pursue their idea. Not only will the winning contestant receive a large lump sum but also their school will receive $25,000.
I think it's cool that the school also receives money, however, Walmart could show a little more leadership and say the money will go to support a certain school cause, such as to drop fees for example. If they made that a rule then they could be opening a new door for businesses everywhere. Since Walmart is a leading brand, I really think other businesses would follow in their lead and want to create more contests that will give cash prizes to schools as that idea will not only gain publicity for these companies but it would also raise their brand image.
I searched on the web and ended up finding this advertisement for the contest:
I love how it's slogan is 'How will you Change the World!' This is another way Walmart is showing leadership as it is trying to inspire young folk, and I know that ad will bring out the true leaders in Canada.
http://www.retailingtoday.com/article/walmart-canada-calls-students-next-great-business-idea
xoxox
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