Walmart Essay

Sam Walton like many business owner hired people from the community, who supported his vision and goals for building a small business to give back to the people that meant the most. That was his family, friends and neighbors. Sam Walton placed people over profit. The most successful start-up companies know that people are first process is second and product is third. With such concept a company can expand and grow in record time. Once employees feel valued for the work they do they will go the extra mile to see that the company succeeds because of the dependably of being a quality based, morally drove organization. The qualities that guide the choices and his administration are his 3 Basic Beliefs: Respect for the Individual; Service to the Customers; Striving for Excellence

The success of Wal-Mart came from Sam Walton’s ten rules for building a business that he shared with all of his employees, the first being: commit to your business, and believe in it more than anybody else. The second rule was to share your profits with your associates and treat them as partners in order to have a mutual respect and furthermore an exceptional business performance, which leads to the third and fourth rules, motivate your partners and communicate everything you possibly can to them; the more you know, the more they’ll

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.

The generic strategy that Wal-Mart employs is mainly a low-cost leader. This is evident by the company’s purpose: “saving people money so they can live better”. Wal-Mart believes that having a lower price matters to their customers. They continuously seek to reduce costs throughout their company, which will in turn reduce costs for

Sam Walton emerged on the retail scene from humble beginnings. Before opening Walmart, Walton was experienced in the retail business, as he had successfully implemented a new type of strategy among his earlier store Walton’s Five & Dime. Walton hadn’t been seeing the returns that he had hoped for, and sought after a new strategy to

     Wal-Mart’s promotions and advertising expenses, in proportion to discount store sales and in terms of circulars offered, was significantly less than competitors; rather it touted itself, and gained recognition for, as offering ‘everyday-low prices’ on national brands. Most of the products it sold were nationally advertised baranded products, although a growing

Walmart is one of the largest corporation in the world. It is widely known for its products that are sold at low prices. There are about 6,300 Walmart stores which millions of people have been given the opportunity to work in. Consumers are Walmart’s number one priority and they will never fail to assist the customers in any way they can. There are many consumers in today’s market who will only go to Walmart to buy groceries and other necessities they might need for their daily lives. Although Walmart provide for their consumers’, research has found that they need to improve in providing for their employees which will allow them to be a better company for their community. This paper will first address the history of Walmart stores in regards to the impact of the stores on society and the economy, and then from this provide ways in which the Walmart company can better itself for the betterment of the society.

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,

According to Walton, their culture is how they work together and is incorporated in business aspects. Wal-Mart’s beliefs are the foundation of their culture to service customers, respect for each other, and strive for excellence and having integrity. The principles that are maintained allowed Wal-Mart to create a unique work culture and the employees all over the world are to following specific values. “Service to our customers simply means our customers are the reason why we are here. This is followed from the CEO to the hourly associate.

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

Sam Walton's book attributes different things to the success of the Wal-Mart stores, one of these being his approach to management. To keep management on their toes and involved, Sam offered them the opportunity to become limited partners if they would invest in the store they were to oversee. Since most of the managers of Wal-Mart own a piece of their store, they are naturally more concerned with profit and losses. Sam stated several times that the single most important ingredient of Wal-Mart's success was taking care of the people in the store, then they will in turn take care of the customer.

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)

Price has always been the key strategy in Wal-Mart’s marketing strategy. The success of Wal-Mart’s low price philosophy and marketing campaigns has been instrumental to the company’s success in the past half century. It is clear that from Sam Walton’s first store in Bentonville, Arkansas in 1950 to the 6200 stores worldwide as of 2006, Wal-Mart has utilized the price strategy of the marketing mix to become one of the most successful companies in

Wal-Mart’s slogan “Everyday Low Prices” is the milestone of their communication with the public as well as their basic business principle. The corporation mainly used word-of-mouth advertising and spent a lot less on marketing than the industry competitors. A strong emphasis was put on patriotism and national causes, when it comes to the U.S. market.

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