Phl/458 Famous Thinkers Essay

1049 Words Mar 27th, 2013 5 Pages
October 8, 2012

Famous Thinkers
While thinking of computer software, you begin to think of Microsoft. In fact if you use a computer, chances are that you will have some type of program on there that is developed by Microsoft. Bill Gates is the chairman and co-founder of Microsoft Corporation, the worldwide leader in software, services and solutions that help people and businesses realize their full potential. When it comes to discounted variety stores there are not many stores that compare to Wal-Mart. The founder and former chairman of Wal-Mart Stores Inc., the world’s largest retailer, is Sam Walton. The innovative thinking of Bill Gates and Sam Walton has changed the business world. With Bill Gates’ contributions to
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His strategy was to dramatically cut prices in hopes of undercutting his competition and making up the difference in price through a higher volume of sales. The strategy was not a new practice, but at the time, discount stores tended to be small, to be located in cities, and to only discount specialty items. Walton's idea was to build big stores that discounted everything they stocked and to place them in small towns (Sam Walton: Bargain Basement Millionaire, 2008).
Discounting was starting to gain popularity and Walton knew that he needed to capitalize on the market. He approached the Ben Franklin company directors about cutting their margins in half to maximize discount marketing but the company declined. It was then that Walton decided to take his idea and open his own store. In 1962, the first Wal-Mart was opened. The store became such as success that Walton was able to open more stores across the country and expand the business. As the stores grew, so did Sam's aspirations. In addition to bringing new approaches and technologies to retail, he also experimented with new store formats—including Sam's Club and the Walmart Supercenter—and even made the decision to take Walmart into Mexico. Sam's fearlessness in offering lower prices and bringing Walmart's value to customers in the U.S. and beyond set a standard for the company that lives on to this day. His strong commitment to service and to the values that help individuals,

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