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Sam Walton was a child of the depression and learned at a very young age the value of a dollar. ... Wal-Mart strategies continue to rely on many of the traditional goals and philosophies that Walton developed, while simultaneously keeping one step ahead of the ever-changing technology and methods of todays fast-paced business environment. ... Army Walton decided he wanted to try a career in retailing. ... But despite these obstacles Walton set his goal to make his store the most profitable in Arkansas. ... Walton went along with this in the beginning but soon he thought he could do better if he did things a little different. ... That year Walton found out that the large store next to the other variety store was planning to sell there lease to the competing variety store. This would allow his competition to expand, something Walton did not want to happen. ... The landlord bought the business from Walton. But before Sam left town to search for a new store he sold the lease on the clothing store to his previous competitor so he could finally expand and compete more effectively against the new owners of the Ben Franklin.
I think this story is a great example of the power Walton had even has a beginner in the discount retail business. ...
In 1962, when Sam Walton opened the first Wal-Mart store in Rogers, Arkansas, no one could have ever predicted the enormous success this small-town merchant would have. Regarded by many as the entrepreneur of the century, Walton had a reputation for caring about his customers, his employees or "associates" as he referred to them. ... In order to maintain its market position in the discount retail business, Wal-Mart executives continue to adhere to the management guidelines Sam developed. Walton was a man of simple tastes and took a keen interest in people. ... Walton believed that Wal-mart’s success was due to the company’s emphasis on exceeding the customers expectations every hour of every day. ...
His constant concern over the spending of every dollar had many believing that Walton was a scrooge with money; he considers himself a cheapskate. ...
Much of Walton’s power I believe was derived from his skills as a visionary leader and his ability to quickly learn from his competitors successes and failures. Walton thrived on change which was critical to Wal-Mart’s survival and Walton’s success. ... In 1980 when making one of his thousands of visits to a Wal-mart store Walton was greeted at the door by a man who welcomed him to the store.
Approximate Word count = 2098
Approximate Pages = 8.4
(250 words per page double spaced)
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