Walmart History Essay

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.

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 was founded by Sam Walton; his belief was to provide “leadership through service.” This is the principle on which Wal-Mart was built on; Sam Walton’s intentions were to sell quality products at low prices with an exceptional customer service. Sam Walton was born in 1918, and at 24 years of age he joined the Military. He was married to Helen Thompson in 1943. After

On July 2, 1962, Sam Walton opened the first Walmart in Rogers, Arkansas. Walmart’s story is the story of American capitalism. According to a 2012 study, more than 140 million Americans shop at Walmart each week. That’s more than how many people were at the 2012 Super Bowl. But there’s more to Walmart than what is on the surface. In this essay, I want to talk about and present the company’s actions.

Sam Walton was born on March 29, 1918 to Thomas Gibson and Nancy Lee Walton near Kingfisher, Oklahoma. In Oklahoma, they owned and lived on a farm until 1923. The Walton's then decided that the farm was not profitable enough to raise a family on. So, Sam and Jame's (Sam's younger brother born in 1921) dad decided he would go back to being a Farm Loan Appraiser. Once this job started the Walton family moved out of Oklahoma and moved from town to town in Missouri. This would traumatize most children but for the Walton boys though it was no big deal. This could be seen when Sam was in 8th grade at Shelbina he became the youngest boy in the state's history to become an Eagle Scout and this was only a start of his

On the above date and time I was conducting a business check on foot of Walmart.

Walmart was founded by Same Walton in 1945. Mr. Walton was, a businessman and former J. C. Penny employee. He purchased a branch of the Ben Franklin Stores form the the Butler Brothers. Mr. Walton primary focus was on selling products at low prices to get higher-volume sales at a lower profit margin. He portraying it as a crusade for the consumer. He had some setbacks, because the lease price and branch purchase were unusually high, but he was able to find lower-cost suppliers than those used by other stores. He passed on the savings in the product pricing. He was able to increased sales 45 percent in his first year of ownership to $105,000 in revenue, which increased to $140,000 the next year and $175,000 the year after that. By fifth year, his store was generating $250,000 in revenue. When the store lease expired and unable to reach an agreement for renewal, he opened a new store at 105 N. Main Street in Bentonville, Arkansas naming it "Walton 's Five and Dime." That store is now the Walmart Museum.

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

Introduction Wal-Mart is a business organization based in the United States of America that operates multiple foreign and domestic retail stores. The company was established by Sam Walton in 1962, as a small retail store, which marked its journey into becoming a monopolistic business enterprise. It has continued to experience exponential growth due to increasing demand for its goods and services at its reduced prices all over the world. Wal-Mart has a huge monopolist competition presence due to its immense size and as a result, it has considerable impacts on market dynamics. Sam Walton created Wal-Mart and made it a giant retailing outlet that today grows through visionary leadership and exceptional business practices.

When Sam Walton founded the first Wal-Mart in 1962, the idea of bringing in a discount-shopping store into rural America was almost unheard of, except for the local five and dime stores. When Walton noticed that he had a lot of competition from regional discount chains, him and his wife Helen traveled the country to study other new retailing concepts, and were convinced that it was the wave of the future. With Walton's vision, Wal-Mart grew to be a multi-billion dollar, international company, operating about 4,600 stores around the world.

What impresses me about Wal-Mart is its growth in the past four decades. It is unbelievable how large the company has gotten in the time it has been open. As of 2004, it had almost 5,000 stores across the world with profits of $9 billion. It is impressive that its strategy of low prices hasn't been duplicated by that many companies. Wal-Mart has also made the transition into the foreign market and has done extremely well. It has over 1,000 different foreign locations in nine different countries as of 2004.

Wal-Mart Stores have been around for more than 50 years, opening the first store in Rogers, Arkansas in 1962. After an early success of a small dime store Mr. Sam Walton wanted to expand on his business knowledge and liked the idea of living in a small town where he and his wife could enjoy a small town living. Through the success of Wal-Mart Stores create lower cost and great service to its customers, Mr. Walton opened the Sam’s Club franchise and even making some of the Wal-Mart stores Supercenters where customers can get the same shopping experience where ever they stop and not have to guess which store will have which items on hand. Mr. Walton wanted his customers to have a great shopping experience every time they came in, which would keep the customers coming back. He believed that his employees were more than just employees! He made them partners of the successful business chain which made for a great partnership. Mr. Walton was awarded the Medal of Freedom award for the great work that he stood by in 1992, from President George H.W. Bush. (Walmart).

Walmart’s history dates back in 1945 when Sam Walton bought an outlet of the Ben Franklin retail stores with the aim of selling products at a relatively low cost, so as to generate huge sale volumes and make profits at a low margin. Although this portrayed the purchased outlet as a crusade for most consumers,

Wal-Mart was founded by businessman Sam Walton in 1962 as a small retail store in Arkansas, USA. From there it has grown to become the largest retail giant in the world. Ranked by Forbes 2000 list for 2011 as the 18th largest public corporation in the world, Wal-Mart is the highest revenue generating public entity in the world as of 31st January 2011, with gross revenue of 422 billion US Dollars (Walmart Annual Report, 2011). It is also noted for being the largest private employer in the world having just over 2 million employees serving in 8500 stores, in 15 different countries, under 55 different names, worldwide. (Daniel, 2010)

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