Sam Walton Exemplifies The American Dream

(1) Walton had a philosophy that drove everything in the business: he believed in the value of the dollar and was obsessed with keeping prices below everybody else’s.

Samuel Moore Walton was conceived in Oklahoma on March 29th 1918. His dad was utilized differently as a homestead advance appraiser, a land sales representative and protection businessperson. Walton and his family moved from many different small towns in Missouri as his dad sought after work. When they at long last settled in Columbia, Missouri, in 1933, Walton supported the family pay by tackling a few jobs. Notwithstanding his work duties Walton discovered time to go to class. As a teen, Sam Walton was portrayed by his schoolmates as the most flexible student in high school. Realizing that anything was conceivable in America, the adaptable young man carried on with his life taking into account the order that exclusive standards were the way to everything. As a star quarterback at Hickman High School, an Eagle Scout, and the beneficiary of a degree in economics from the University of Missouri, Sam Walton was a puzzle. Hitched 49 years to the same lady, and a father of four, this vigorous huntsman and recreational devotee, held an unassuming picture supporting his red Ford F150 pickup (vintage 1979) as his method of transportation to work. Be that as it may, as a man of business, Walton, known as Mr. Sam, was an eccentric yet vital retail pioneer. Mr. Sam was imaginative, unequivocal, and discerning. Walton accepted among different qualities that to be effective in business one must "swim upstream." He was splendid enough and sufficiently persevering to pick up a spot at the

Sam Walton started the company in a small rural community bringing along his J.C Penney management experience.This experience helped Walton to start the development of Walton five & ten. He realized that he had a company that was going to benefit him as well as the customers. Walton along with his brother decided to start to build other stores but dismiss competition by opening in small and midsize towns(). The brothers made effective management decisions of issues that could affect their stores as well as the business in general(). Walton followed the five strategic management processes in order to develop more stores in more cities. The external analysis was used to determine the problems as well as the opportunities that each potential town

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,

Dedication, risk-taking, empire-building, and world shaking; words that describe a man that changed this world. This man is not any ordinary man, but a man of vision and hope; a man that started from nothing, and if alive today would be worth more then Bill Gates. Sam Walton, creator and founder of Wal-Mart Incorporations, shaped this world. “From his birth on March 29, 1918 in Kingfisher, Oklahoma to his death in April 6, 1992 at Little Rock, Arizona” (“Sam Walton” NNDB), Sam Walton changed this world both for the better and the worse by providing such cheep goods to people around the world.

When Sam Walton founded Wal-Mart, he envisioned a grocery store that could provide great customer service along with low prices. Nobody in his industry trusted his ideas would bring in success. After the corporation went public in 1970, his partners and competitors soon began to believe in his vision. Walton once stated “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.” As he saw his aspirations coming to life he then began to grow his legacy. He introduced new technologies, products, and opened chain of stores Wal-Mart

This case discusses the entrepreneurial skills and visionary leadership of Sam Walton, the founder of Wal-Mart. It examines his contribution in accelerating the growth of retailing industry. It explains how Walton transformed Wal-Mart, a start-up in the 1950s, into a multi-billion dollar global retailing industry giant. The case details the beliefs, philosophies and value system of Walton. After analyzing the case, I have found Sam Walton’s Visionary leadership, and the secret success story of the great leader.

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)

In 1962, Sam Walton founded Walmart in Rogers, Arkansas on the principle of keeping the customer happy by providing them with the lowest priced goods on the market (Press 2004). He really wanted to make the lives of his customers better by selling them cheap goods so people can have more spending cash to make their lives better. Going on with this principle, in 1969 Sam, now with 24 stores open, officially incorporated the company as Wal-Mart Stores, Incorporated (Press 2004). Since then Walmart has blown up all across the United States and into the rest of the world becoming the most successful retail company on the planet. Its success can be mostly attributed to adhering to its founder’s ideology of low priced goods.

Wal-Mart saw that their competitors’ sales were increasing, so they had to take action. The key facts and issues presented in this case were the declining sales and reducing profit. Wal-Mart had to revise their marketing strategy, while maintaining what they are known for; which, is their everyday low prices (Ferrell, Hirt, & Ferrell, 2009). In order to stay on top, the company must keep up their market strategies. Wal-Mart felt the pressure form their competitors, so they had to adapt to the new and change the existing strategies (Our History, n.d.). It is so important in the business world to be able to embrace the change. When Sam Walton started Wal-Mart he had ten simple rules. They are commit to your business, share profits with associates and treat them as partners, motivation, communication everything, appreciate everything associates do, celebrate our success, listen to everyone in the company, exceed your customers’ expectations, control your expenses, and swim upstream (Our History, n.d.).

The Married couple moved to New Port, Arkansas. He did not let his degree go to waste. Throughout a short period of time, he took over a management position at a variety store at the age of 26. Mr. Sam gains a lot of experience of retail profession. His method of thinking was to use leadership through service. Eventually, He pursued to operate his own store. Mr. and Mrs. Walton decided to relocate in Bentonville, because Mrs. Walton wanted to live the small town lifestyle, also Mr. Walton want to take advantage of the four hunting seasons. He started with a 20,000 dollar loan, and 5,000 personal dollars to fire off his business aspirations. Mr. Sam opened on his first store Walter 5&10. With the outstanding results of his store, he decided to start organizing a bigger project. In 1962, Mr. Sam opened up Walmart in Rogers, Arkansas. Mr. Sam used the

Sam Walton initiate an international business were, he promoted his own vision of value over benefits. The transformational vision allowed Mr. Walton to go from running a business to being one of the most successful motivate leader, and build his own store nationwide. It’s what allow his company to grow and the importance to achieve his goals; by having his morals and good values. Sam Walton was the type of person that would take his time to teach other, in how to get the job done correctly. He had good leader’s traits which made him to succeed.

Its business concept is the convenience store low price and high volume, discount stores, supermarkets and hypermarkets. Sam Walton, a leader with an innovative vision, started his own company and became the leader in retail. Through understanding, and sometimes unusual practices in business, led the company forward for thirty years. Walmart executives continue to rely on many targets and traditional philosophies than its predecessor left behind while simultaneously always one step ahead of technology and methods that changing environment. The organization has faced a significant amount of controversy over various issues; however, none of these has made great effect on the progress of this gigantic operation.

The giant retail store today has just started with an idea from Sam Walton back in the 50s. He opened a five-and-dime Walton store in March 1951, with just a small capital, with a new concept in the retail industry of offering his low-priced products. He believed that if he keeps his prices low, even to the point that his margins are just dimes, he could beat other retailers and profit through volume. Sam Walton’s first stores were so successful that the owner of the building, which he was renting, thought he would profit more if he break lease contract with Sam Walton and instead run the same business.

In the 1960s, Sam Walton, the founder of Walmart, started his business with a strong foundation which is providing everything to customers with low prices they can afford. From that time forward, Walmart kept its low price strategy and in return it became bigger and bigger. The