Why Is Walmart Successful

Hundreds of years ago, America’s economy was nowhere near close to world standards. However, as time has progressed it has grown into the largest superpower in the world. One of the major factors to this growth is due to the emergence of entrepreneurs. Wal-Mart is just one successful business that is able to benefit from enormous economies of scale, and find ways to outgrow its competitors (The 39 Most Influential). Sam Walton, the entrepreneur who started it all, was able to accomplish success by recognizing the need for low-cost retail stores in America.
Born on March 29, 1918 in Kingfisher, Oklahoma, Samuel Moore Walton was the first son of Thomas Walton and Nancy Lee. During the early years of his life, Sam was a good student and …show more content…
Although Wal-Mart had brought great advances in communities, it also developed tribulations. The new company began to pose a threat to smaller stores and downtown retail. It was eliminating chances for small-town merchants to make a profit because of everything it had to offer. Wal-Mart offered almost everything a family would need all in one place, making everything more accessible. So although Wal-Mart chased away the competition, it made goods easier to access for families. Also, Walton tried to put the family businesses at ease by promising jobs and donations to local charities. As a result, mostly everyone who had lost their jobs from Wal-Marts emergence received jobs as …show more content…
Entrepreneurs are the specialists who focus on innovation, developing new products and services and expanding the supply of resources that people can use to produce more of what they value. Sam Walton is no exception to this quality; he always had a vision to bring a larger retail store to smaller communities. In doing so, he created a store that allowed for a broader scale of goods to all be under the same roof. Leading to the next trait; enjoying creating solutions that offer better services for people. Walton had a business with his brother and it was very successful, however he wanted to find a way to benefit rural communities and make goods more accessible for everyone. As a result he ventured off to accomplish his view, and in this sense he solved the problem and created a new organization. Also, because his business skyrocketed so quickly, many smaller businesses suffered greatly and had to close because of Wal-Mart’s new success. As a result unemployment in those regions went up; however Walton faced this problem head on. He came up with the solution to hire those who got fired to appease the township. Entrepreneurs also help ease financial burdens for smaller communities. Although Wal-Mart created a miniature monopoly in rural areas and caused older businesses to close up shop if they could not improve fast, but for