Walmart : Founder Of Walmart Essay

1329 WordsOct 13, 20166 Pages
1. Briefly trace the history of Walmart. Sam Walton is the founder of Walmart that follows his own principle where, “true leadership depends on willing service.” Walmart was inspired by the early success of a dime store in 1950s that Walton owned. Sam opened Walmart in 1962 in Rogers, Kansas. Sam Walton thought of Walmart as a way to earn profits through volume of sales by making prices low as possible and give great service for the consumers. The strategy they built was based on a foundation where they provide the lowers prices anytime and anywhere. Competitors thought that Walmart would not succeed with this strategy, but in 1970s the business went public and Mr. Sam decided to make Walmart widespread around the nation to earn more publicity. Their business was not just relied on lower cost to attract the customer, but also the associates who work there and provided respect to individuals. The business was able to offer stocks at $16.50 per share in 1970 as it became a publicly traded company. This helps the company raise money to expand their business. In 1983, the business opened their first Sam’s Club to support small businesses and individuals who can sign up for membership to receive quality products at an incredible value. In 1988, they opened their first Walmart Supercenter which combines general merchandise and a full-scale supermarket which competes against other traditional supermarkets. This provides consumers the ability to go to just one-stop convenience
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