Sam Walton
Sam Walton
Gregory Williams
Grantham University
Sam Walton If you were to stop and take a look at the Wal-Mart stores, you would probably be able to see the thought behind the idea of the store and see that the founder had a brilliant concept. Sale the necessities that people need and use everyday at accessible and affordable prices (Walton, 1992). Sam Walton, the founder of Wal-Mart the international discounting retail giant, was a business leader that changed the way big business is done. Sam Walton was born in Kingfisher, Oklahoma in 1918. He moved to Shelbina, Missouri where he started high school and later went on to college. In 1942 Sam joined the military and then married Helen Robson in 1943. When Sam’s military career came to an end, he and Helen moved to Newport, Arkansas. Sam gained some retail experience from his first job in a JC Penny management-training program. He had always had an eye for retail so later Sam bought a Ben Franklin variety store franchise. He did extremely well with his franchise. Sam’s strategy for buying in bulk and discounting proved to be a hit with customers (Ortega, 1998). Over time Sam opened up more Ben Franklin stores with the assistance of his father and brother. However, because he didn’t have the flexibility to run the business as he wanted to, he decided to set up his own Wal-Mart store; this would be the first one. With his Wal-Mart, he began to use the strategy of discounting like he had with the Ben Franklin stores. This strategy proved to be very successful and he new that discounting would be the future of retail. With this strategy, Sam started expanding in the area, and ultimately all over the United States. Eventually, Wal-Mart became the largest corporation in the United States with revenue of U.S. $ 404 billion in 2009 (fortune 500, 2008). Sam Walton died in 1992 after receiving
Gregory Williams
Grantham University
Sam Walton If you were to stop and take a look at the Wal-Mart stores, you would probably be able to see the thought behind the idea of the store and see that the founder had a brilliant concept. Sale the necessities that people need and use everyday at accessible and affordable prices (Walton, 1992). Sam Walton, the founder of Wal-Mart the international discounting retail giant, was a business leader that changed the way big business is done. Sam Walton was born in Kingfisher, Oklahoma in 1918. He moved to Shelbina, Missouri where he started high school and later went on to college. In 1942 Sam joined the military and then married Helen Robson in 1943. When Sam’s military career came to an end, he and Helen moved to Newport, Arkansas. Sam gained some retail experience from his first job in a JC Penny management-training program. He had always had an eye for retail so later Sam bought a Ben Franklin variety store franchise. He did extremely well with his franchise. Sam’s strategy for buying in bulk and discounting proved to be a hit with customers (Ortega, 1998). Over time Sam opened up more Ben Franklin stores with the assistance of his father and brother. However, because he didn’t have the flexibility to run the business as he wanted to, he decided to set up his own Wal-Mart store; this would be the first one. With his Wal-Mart, he began to use the strategy of discounting like he had with the Ben Franklin stores. This strategy proved to be very successful and he new that discounting would be the future of retail. With this strategy, Sam started expanding in the area, and ultimately all over the United States. Eventually, Wal-Mart became the largest corporation in the United States with revenue of U.S. $ 404 billion in 2009 (fortune 500, 2008). Sam Walton died in 1992 after receiving
References: Fortune 500. (2008). Annual Rankings of America’s Largest Corporations Fortune 500. (2012). Annual Rankings of America’s Largest Corporations Michael Bergdahl. (2006). Success Secrets for Remarkable Results: The 10 Rules of Sam Walton, John Wiley and Son Inc. Hoboken, New Jersey Bob Orega. (1998). In Sam We Trust. Times Book Publishing, New York Sam Walton with John Henry. (1992). Sam Walton Made In America. Double Day, New York, New York