Sam Walton

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  • Sam Walton Essay

    Introduction Samuel Moore Walton was an American entrepreneur and founder of Wal-Mart and Sam's Club retail stores and at a time was the richest man in United States. Sam Walton was born in Kingfisher, Oklahoma in 1918. He opened the first Wal-Mart in 1962. The discount chain expanded internationally over the next 30 years, growing into the world’s largest company by 2010. Walton stepped down as CEO in 1988 (Forbes 1997), at the age of 70 (Biography 2015), but remained active in the company until his death in 1992 (Huey 1993). In 1985, Forbes magazine determined that his 39% ownership of Wal-Mart's stock made him the richest man in America (Huey 1998). Rent In 1945, Walton at the age of 26 with the help of a $20,000 loan from his father-in-law, and $5,000 of his savings purchased a Ben Franklin variety store in Newport, Arkansas (Forbes 1997). Walton managed to sales volume growing from $80,000 to $225,000 in three years and drew the attention of the landlord, P. K. Holmes, whose family had a experience in retail. Holmes eventually refused to renew the lease because of desiring to regain the store and franchise privileges for his son. The lack of a rent contract renewal option, together with the excessively high rent of 5% of sales, was early…

    Words: 590 - Pages: 3
  • Sam Walton Research Paper

    Sam Walton Early Life In 1918, Sam Walton was the first of two boys born to Thomas Gibson and Nancy Lee Walton. He was born in a small town near Kingfisher, Oklahoma, but due to his father’s work as a farm mortgage banker, his family moved to Columbia, Missouri. The Great Depression caused Walton to know what it was like to live in poverty at a young age. Walton’s parents taught him early the importance of saving money and to always treat people with respect. For the rest of his life, these…

    Words: 1171 - Pages: 5
  • Lee Thiam Waai Case Study

    Lee has affected by license risk and competition in the retailing store industry when he started over his business. However, his experience makes him able to stand out and dominate the competitive market. They have successfully built a strong reputation by expanding market share (99speedmart.com, n.d.). 3.2 Challenges that were encountered by Mr. Sam Walton Due to the huge firm size of Walmart, they faced challenges that have never encountered by other companies before. The pressure of control…

    Words: 797 - Pages: 4
  • The Importance Of Organizational Culture At Walmart

    Wal-Mart’s dynamic leader, whose vision, empathy, and work ethic centered on achieving his objectives through hard work, with consideration for, and inclusion of all associates, enabled him to inspire others to work toward achieving his vision (Bergdahl, 2004). Ultimately, through the creation and maintenance of a healthy organizational culture, in which all management decisions and employee behavior align with Sam Walton’s vision and the three central values on which the organization was…

    Words: 2310 - Pages: 10
  • The Impact Of Wal-Mart On The Retail Industry

    (Prabhjyot Sandhu) Wal-Mart, one of the world’s most successful retailing corporations is the leader in the industry to this date. This giant empire was founded by Sam Walton in 1962. Wal-Mart changed the face of the retail industry as its competitors thought the idea of a successful business built around by offering a lower price and great service would never work. Sam Walton had disproven the traditional retail corporation’s approach to the success and growth of his empire, as the company had…

    Words: 1510 - Pages: 7
  • The Success Of Bill Gates, Microsoft Inc.

    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…

    Words: 1049 - Pages: 5
  • Best Buy Executive Summary

    called Sound of Music before the name changed to Best Buy in 1983; Best Buy generates more than $40 billion annually (Best Buy, 2015). Best Buy’s main goal is to be the best consumer electronics outlet in the world. They are a multinational retailer that sells products and services through three primary channels: about 1,700 retail stores, online, and call centers (Hoovers Report, 2015). Best Buy’s branded store banners include Best Buy, Best Buy Express, Best Buy Mobile, Five Star, Future…

    Words: 361 - Pages: 2
  • Wal-Mart Case Analysis

    While the first Walmart may have opened in Rogers, Arkansas in 1962, the foundation for the company’s business strategies were laid long before. Walmart founder Sam Walton was born in 1918, and his attitudes toward money were developed by living through the depression. Working through these hard times, Mr. Walton went on to pursue a degree in business from the University of Missouri, then began his management career with JC Penney. After returning from serving in WWII, Mr. Walton bought a Butler…

    Words: 1145 - Pages: 5
  • Is Walmart Good For America Case Study

    1. What does the documentary “Is Wal-Mart Good for America” illustrate about the business environment at the time? At the beginning, the business environment of Wal-Wart was based on quality and competitiveness. To develop its business, Sam Walton, the founder of Wal-mart was looking for low prices, and he decided to get cheaper imports from China. As Wal-Mart begun to grow its business, its environment changed; it forces suppliers and competitors to sell at their cheapest price. Nowadays…

    Words: 742 - Pages: 3
  • Walmart Advertising History

    The company I researched is Wal-Mart, Inc. Their founder was Sam Walton at first was a J.C Penney employee purchased a branch of the Ben Franklin Stores from the Butler Brothers in 1945 to start his business Due to him selling products at low prices to get higher-volume sales at a lower profit margin made him experience some setback, but was able to get over the issue. After his not being able to come to terms with a lease renewal Walton decided to open up his first own Bentonville, Arkansas…

    Words: 790 - Pages: 4
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