Role of Entrepreneurship and Innovation

Around 260 million customers visit one of 11,500 Walmart 's stores each week. Walmart has an international presence in 28 countries and e-commerce platforms in 11 countries. In the fiscal year 2015 net sales equal $482.2 billion, and it had 2.2 million employees worldwide.

Sam Walton, the founder of Wal-Mart was a business man with a vision. Sam was born in 1918 in Oklahoma. He was in the military until 1945 and then moved to Bentonville. Sam Walton was a very cheap man. Mr. Walton opened his own 5&10 store, and it became a success very quickly. Walton realized that passing on savings to his customers while earning profits through volume, would be the best way to have success in life as well as providing a better life for all Americans. Through this philosophy Wal-Mart was launched in 1962, in Rogers, Arkansas. Sam shared this vision with his associates and made them partners in the company; believing that this partnership would make Wal-Mart great. Sam

Wal-Mart was founded 52 years ago in Rogers, Arkansas by a man named Sam Walton. He wanted to start selling products at low prices to get higher sales. In 1945 he bought a branch, and with sales increasing to 45% within the first year, Walton’s store received $105,000, which is about $1.38 million in today’s market. Every year after that, sales were on a steady rise. In 1970, Wal-Mart had 38 stores, 1,500 employees, and sales of $44.2 million. Ten years later there were 1,000 more stores, and sales of $15.9 billion. Today their sales revenue has been $473 billion. They employ 2.2 million people worldwide, 800,000 of those employees are international

Before reading this book, I had no idea about the story of Walmart or who its founder was or anything like that. All I knew was that Walmarts are huge and everywhere you go. After reading this book, I learned that Walmart really did start from the bottom and came out of nowhere. In addition, I learned that a reason Walmart was successful was because Sam Walton wasn’t a risky man like most greedy business owners who want to make as much money as fast as possible “Sam never did anything in size or volume until he actually had to. He played it close to the belt”(Walton 89). He was careful with his money and considered all his options before making any decision. Another thing that really stood out to me was his policy on giving back to his employees

Sam Walton’s main philosophy was to keep cost low, which kept prices low. It is a simple premise but is very problematical in practical use. This brings me to the first lesson that I have learned from Sam Walton, innovation. Mr. Walton did not create the retail commercial he modernized and change the business model to fit his quixotic. “Walton also looked outside of his company when it came to developing technologies, and as

“If we work together, we’ll lower the cost of living for everyone… we’ll give the world an opportunity to see what it’s like to save and have a better life.” Those were the words spoken by Wal-Mart’s late founder Sam Walton. He believed that he could build a great business by offering low prices and great service. His goal was to target was the small rural areas in America and offer great deals on products, but is competitors thought his ideas would never work. They were wrong Wal-Mart stores grew rapidly all across the country. Mr. Walton credited a lot of Wal-Mart’s success to the associates because they provided customers with a great shopping experience that kept them coming back. Since Wal-Mart became so successful Sam Walton created other stores

Wal-Mart is a general merchandise discount retailer, which was incorporated in 1962. Wal-Mart’s history is based on one man, Sam Walton, who changed the course of retailing forever. Sam Walton first entered retailing when he was a management trainee at J.C. Penny Co. in 1940 in Des Moines, Iowa. After serving in the Army in World War II, Walton acquired a Ben Franklin variety store franchise with his brother James Walton in Newport Arkansas, until they lost the lease to the store in 1950. By 1962, when the first Wal-Mart Discount City was opened in Rogers Arkansas, both Walton’s were operating fifteen stores under the “Walton 5 & 10” name, and were the largest Ben Franklin franchisee in the

When opening the first Wal-Mart store, Sam Walton traveled the country to learn more about discount retailing and gained a new perspective on what he though Americans desired in a store (WalMart). Contrary to popular opinion, Sam Walton believed that discount stores could be successful in rural America so Wal-Mart’s early beginnings were rooted in the establishment of a small discount store in Rogers, AR opened by Sam Walton in 1962 (Wal-Mart). From there ,Wal-Mart continued to grow and was incorporated as Wal-Mart Stores, Inc. in 1969. Once the company was listed on the New York Stock Exchange, the growth skyrocked, growing from a chain of small discount stores to large supercenters

The first Wal-Mart store opened in 1962 in Rogers. Arkansas. In 1969 Wal-Mart became incorporated. The first distribution center opened in 1970 and Wal-Mart was put in the New York Stock Exchange. By 1985 Wal-Mart had 882 stores and made $8.5 billion. In the 1990’s Wal-Mart became the nation’s number one retailer and in 1991

In the late 1940s, a man named Sam Walton was franchising Ben Franklin’s store located in Newport, Arkansas. As a retailer, Walton continuously was in search of suppliers with best deals on merchandise. Usually, if a retailer was able to get a deal from a wholesaler they would leave their store prices at the regular price and pocket the excess money. Being the innovator he was, Walton decided to pass the savings on to the consumer and make his money through the increased volume of sales. This understanding would become the foundation of Walton’s business strategy when he developed Walmart in 1962.

This visionary business savvy leader took the 1970s by storm. Not only did Walton begin selling stock on the New York Stock Exchange for $16.50 per share, he also took Walmart national “recording sales of $78 million” (Wal-Mart Stores, Inc., 2015) in now fifty-one stores. In less than thirty years, Sam Walton had established Walmart as the leader in discount retail. Continuing with his philosophy of giving back to the community, Walton opened his “first distribution center and home office in Bentonville, Arkansas” and “established The Walmart Foundation” (Wal-Mart Stores, Inc., 2015). “He 'd planted the seeds for what would become the global leader in retail” (Wal-Mart Stores, Inc., 2015)

Walmart started out as a local discount retailer in Rogers, Arkansas and evolved into a discount powerhouse. Through Sam Walton’s leadership, dreams, and risk taking, Walmart success is shown through the innovation that developed in the following areas from thousands of stores within the United States and Puerto Rico, 27 countries, 600 plus Sam’s Club in the United States, 100 international clubs, and eCommerce websites for 10 countries to include the United States. This amazing success lies within one-man vision to provide customers and communities’ ways to save money for higher living standards. Walton’s strategy was “The Lowest Prices Anytime, Anywhere” (Corporate, 2015).

Many trace discount entrepreneur birth to1962, the first year of operation for Kmart, Target and Wal-Mart. But by that time, Sam Walton 's tiny chain of variety stores in Arkansas and Kansas was already facing competition from regional discount chains. Sam traveled the country to study this radical, new retailing concept and was convinced it was the wave of the future. He and his wife, Helen, put up 95 percent of the money for the first Wal-Mart store in Rogers, Arkansas, borrowing heavily on Sam 's vision that the American consumer was shifting to a different type of general store.

Wal-Mart Stores, Inc. is a multinational retail corporation that runs large discount grocery stores and warehouses. It was established fifty years ago by Sam Walton and his brother Bud in Bentonville, Arkansas (USA). Wal-Mart is considered one of world ́s most valuable companies. It has a sale over $300 billion a year. Wal -Mart is the world biggest employer, having more than 1.5 million workers around the globe. It has more than five thousand stores worldwide. Most of the stores (around 80%) are found in the United States. Over the past ten years, Wal-Mart has become the world ‘s largest and most strong retailer with the leading sales per square foot, inventory turnover and operating profit of any discount retailer. They address on creating a difference in the customers lives better and helping customers save money.

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