Analysis Of Sam Walton 's Vision

Ferguson (2016) explains that Walmart’s vision statement, the Corporation traces its success to the principles of its founder, Sam Walton. Further, the principles are highlighted in Walmart’s vision statement: “To be the best retailer in the hearts and minds of consumers and employees. ” The author added that Walmart initial aim was to attain a top position in the retail industry – given its present situation, the company has already achieved the best retailer aspect of the vision. In addition, Walmart’s vision statement speaks to the minds and hearts of those that matter most to the Corporation, that is - consumers and employees. Walmart has convincingly swayed the minds of shoppers and workers on the premise of financial benefits. The writer stated that staffs earn wages, whilst shoppers save money via Walmart’s economical prices. Still, the heart element of the vision statement remains to be proven (Ferguson, 2016).

Giants of Enterprise by Richard S. Tedlow is the story of seven incredible American entrepreneurs of the most recent century who made new commercial enterprises or new business from nothing. In this paper I will analyze this book with regard to texture, context, writing style and skills approaches techniques used by the author. The recognizing characteristic of the giants of enterprise is that they live later on. And the future for them is not some dreamland where trees become in the sky.

The first retailer, Walmart Corp., has many values in its systems, and they are one of major keys behind Walmart’s success. Since the company has started its operation, the founder Sam Walton had set valuable corporate values to be the beliefs of Walmart’s culture. The first value that they emphasize on is respecting for the individual, which means that even if everyone has different backgrounds and beliefs, everyone should deserve to be treated with dignity, and value their contributions. Second, serving their customers and trying to provide the greatest possible level of service

Wal-Mart evolved from Sam Walton’s purpose for great price and great consumer service. “Mr. Sam,” as he was known, believed in management through service. The principle that true leadership depends on willing service was the standard on which Wal-Mart was built, and drove the choices the business has made for the past 50 years. So much of Wal-Mart’s past is attached to the story of Sam Walton himself, and so much of our future will be deep-rooted in Mr. Sam’s principles. Sam's rivals thought his plan for a thriving business couldn’t be built around low prices and great service. As it happened, the company's achievement went beyond even Sam's hopes. The company went public in 1970, and the profits funded a steady growth of the business. Sam recognized the rapid increase of Wal-Mart not just to the low prices that fascinated consumers, but also to his staff of workers. He depended on them to give customers the great buying experience that would

It almost seems ridiculous now because Walmart is one of, if not the number one, retail department store, but at one time people could not believe it would be successful at all. Though by 1970 Walmart was expanding and others were beginning to realize the potential Walmart had. Sam himself was shocked that what he had created was now booming. Sam was quick to credit not only himself but his loyal associates who were pleasing and meeting customer expectations. The relationship

Walmart was founded on the belief stated above by its founder Sam Walton in 1962. “Saving people money, so they can live better,” was the main objective when Sam Walton opened the doors to the first Walmart (“History”). Today, Walmart is the world’s largest retailer and corporation in the United States and have been awarded and recognized by various organizations for being the best employer throughout United States and other countries. By the Fortune magazine, it is listed as one of the most admired

Out of the three profiles, I enjoyed reading Sam Walton’s profile. This profile was easier to read compared to the other profiles because it suited well to our 21st century. Everyone in America is always on the lookout to find great deals for their grocery items at a low cost. Sam understood the struggles of Americans, therefore he was able to create a store that Americans were able to buy all your grocery and other miscellaneous items at one convenience store. Sam was so cheap that he decided to name the store name with the fewest letters as possible, Walmart. Walmart is known for their cheap prices and that is what consumers love. With over thousands of Wal Mart's in the United States, Sam quickly became one of the richest Americans. Throughout

Wal-Mart’s culture focuses on respect, diversity and promoting from within. These values seek to increase job

America 's richest man, Sam Walton, was not always rich. Growing up during the depression, he struggled to help his family then, not knowing he would one day own a multi-billion dollar business, and then struggle to help the poorest of America becoming one of the top philanthropists in the United States. Also seen as a great leader, not everyone agrees on the "greatness" of the man who laid the foundation of some of the most significant management concepts used today in the business world.

Sam Walton, the founder of Wal-Mart, which is the biggest retailer in the world, had coined the famous saying ‘individuals don’t win, teams do’. There are several characteristics of Sam Walton that enabled him to be successful in his life and business dealings. Sam Walton could do anything he put his mind to. This can be witnessed in his ability to transform a small town store into a 25 billion-dollar industry at the time of his death. Also, Walton difficult childhood gave him something to strive towards later on in his life.

Sam Walton, a businessman and entrepreneur with an innovative vision, started his own company, which became the leading in discount retailing today. His brilliance and unusual business practices lead him and his associates to acquire a successful company for over thirty years. Even after his death, the company is still growing steadily today. Walmart executives still continue to rely on Walton’s traditions, concepts, goals, and philosophies. He exerted a tremendous influence and left a legacy behind.

Sam Walton explains in his book Made in America, that he believes in Servant Leadership p1351. Although this is a small part of the book, his adaptation of this style is reflected in the way he ran Wal-Mart and his personal life as well. He created a culture in the workplace as well that reflected his leadership style. If we look at Maslow’s Hierarchy of needs along with Herzberg’s two factors, we see that if a leader attends to the bottom four levels, or deficiency needs, the workers can focus on self-actualization. Sam felt that by enabling his employees to truly be a part of the company through profit sharing, he was motivating them to work harder. This speaks to the self-actualization tier of the hierarchy and promotes a sense of “transcendence”2. I selected this book because when I took a position with Wal-Mart, I was handed a copy of this book. Even though it was not required reading, I was fascinated by Mr Sam, as he was known. He was a simple man and grew his company to a multi-million dollar company and I wanted to learn more.

From a gallon of milk to a complete home makeover, Wal-Mart is the kind of store consumers (to include myself) go to buy all their home goods. What we don’t see are the management aspect of the operations, the issues stores, management, and executives go through on a daily basis. Wal-Mart has several challenges it goes through, from self-inflicting wounds to battling competitors for the lowest prices and consumer business. However its CEO’s both past and present have set the foundation and direction of where Wal-Mart is to be headed in the 21st century. With direction and orders in-hand, its top executives have developed

Sam Walton understood people and knew how to choose excellent employees. Walton successively acquired valuable managers and personnel to operate his new stores. “Of course, I needed somebody to run my new store, and I didn’t have much money, so I did something I would do for the rest of my run in the retail business without any shame or embarrassment whatsoever: nose around other people’s stores searching for good talent.” (Walton, 1992, pg. 35) Sam Walton knew acquiring employees with good teamwork skills and strong work ethics would decrease employee turnover. Low employee turnover ultimately equated to lower hiring costs and fewer instances of Wal-Mart employee termination requiring severance payments at financial loss to the company. Furthermore,

Sam Walton 's first venture as a milk boy is when he understood the value of a dollar and the knowledge of how far a dollar could take one in life. From Sam 's first five and dime stores in the 1950 's to his opening of the first Wal-Mart in Rogers, Arkansas in 1962, no one could have predicted the enormous success of this small-town merchant. Today, fourteen years after his death, Wal-Mart continues to grow and leadership of this company continues to rely on many of the traditional goals and philosophies that Mr. Walton left behind. In keeping one step