Essay about Wal-Mart

In 1950, Sam Walton purchased a store and opened Walton’s 5 & 10 in Bentonville, Arkansas. This later became the home office of the now multi-billion dollar company. As business became more successful, Walton opened more stores and renamed the chain “Wal-mart.” Now, Walmart has stores all around the globe, with 5,229 stores in the US alone. It is considered the largest retail company in the world.

(1) Wal-Mart’s promotional strategy of “everyday-low-prices” meant offering customers brand name merchandise for less than department and specialty store prices.

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Wal-Mart didn’t just get by with cost-saving methods. They were ahead of their competitor’s technology wise too. Even in the 1970’s, Wal-Mart was able to track inventories in their warehouses and link it with stores. They tracked their sales data for specific items and could increase or decrease their inventory accordingly, achieving a higher efficiency than other retail companies. Another aspect that Wal-Mart felt strongly about was expanding there reaches. In 1978, they introduced a Pharmacy, auto center and jewelry divisions.

Wal-Mart Corporation is one of the largest retail stores in the world. They serve customers in meeting their needs with low cost saving items. On October 31, 1962, Wal-Mart was founded and incorporated by Sam Walton in Bentonville, Arkansas. Mr. Walton went into business because he felt that items sold were too high for the average customer to afford. His focus was to sell products at low prices to get higher volume sales at a lower profit margin. He bought bulk products from different suppliers so he could incorporate savings into his pricing to lower cost for customers. Under the savings cost concept, Wal-Mart grew rapidly and surpassed its competitors in sales and generating profits.

Wal-Mart was conceived and founded by Sam Walton in 1962, at Rogers, Arkansas. Sam Walton started with just a few small variety stores, funded with borrowed money. His goal

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

To fully understand Walmart’s business one should first study the history of Walmart’s retail company. Born in 1918, Sam Walton married his wife Helen Robson while serving in the military. After Sam’s military term ended Sam and Helen moved around until they finally settled in the small town of Bentonville, Arkansas. Bentonville is when Sam’s Walton’s 5&10 store led him to open the first Walmart in 1962 in Rogers, Arkansas (Founder of Walmart).

Samuel Walton was a businessman and entrepreneur known for establishing the discount chain Walmart, that grew to become the largest corporation in the world. Samuel Moore Walton was born March 29, 1918, in King Fisher, Oklahoma. He is the first son of Thomas Walton and Nancy Lee, they lived on a farm. Sam’s father decided farming did not provide enough money for his family and started to work for his brother in farm martagons. Sam and his family moved to Shelbina, Missouri. In eighth grade, he was active in boy scouts and became the youngest eagle scout in his state along with receiving the recipient of Distinguished Eagle Scout Award from the boy scouts of America. Later, the family moved to Columbia, Missouri, where Sam was a good student, quarterback on the football team, and voted most versatile boy at Hickman High School. After graduation, he attended the University of Missouri where he was a ROTC cadet and a member of the Zeta Phi chapter of Beta Theta Pi Fraternity. Sam was also an active member of QEBH, a secret society on campus for senior men, and president of the Burall Bible Class. In 1940, Sam graduated with a bachelor in Economics. Sam worked for J.C. Penney as a manager trainee in Des Moines, Iowa, and was paid $75 monthly. He had to leave the company because of being inducted in the Army for World War II in 1942. While in the army, Sam worked at DuPont in Tulsa, Oklahoma.

It’s a place everyone knows, much like the post office or even city hall. Wal-Mart. That is where the oddity lies, in the fact that a retail store is just as well known as staples for towns across the nation; not to mention the fact that Wal-Mart isn’t just in the United States, but around the world. Founder of the billion dollar industry, Sam Walton, did expect success from his endeavor, but no one could have foreseen just how influential the retail store would be. Wal-Mart is an astonishingly successful business with humble beginnings, but may have a rocky road ahead in terms of social issues due to the treatment of employees and it's strong effects on the economy.

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

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

Wal-Mart • What each company does. The founder of Walmart, Sam Walton, was born in 1918 in Kingfisher Oklahoma. In his early twenties, Sam Walton decided to join the military. Shortly after returning from the military, Sam and his wife moved to Newport, Arkansas.

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.

by taking actions other than reducing consumer transaction costs and through devising new products and services. Wal-Mart.com will offer products from all 25 categories you can find in a regular Wal-Mart store. To create additional value, it will offer a richer choice of high quality products, for example DVD players and cameras. But not only will it offer these higher-priced items, it will also offer them as complements, which means that Wal-Mart.com for example will sell DVD players with a set of the latest DVDs.