Like any retailer, Walton was always looking for deals from suppliers. Typically, though, a retailer who managed to get a bargain from a wholesaler would leave his store prices unchanged and pocket the extra money. Walton, by contrast, realized he could do better by passing on the savings to his customers and earning his profits through volume.
How did Sam Walton change retail shopping in the United States? Background Sam Walton was born in Kingfisher Oklahoma in From his humble beginnings, he rose and founded the largest retail empire in the world. He served as a Captain in the Army Intelligence Corps from to He married his wife Helen inand they had four children over their 49 years together.
Sam Walton was always interested in retail. He had early beginnings working at JC Penney as a management trainee before entering the Army. After World War II he decided to open his own business.
His initial store earned a profit as Sam introduced ideas of cutting costs that are still present in Wal-Mart today. He bought large volumes of goods directly from manufacturers and made his store more accessible to more customers with longer hours and a good central location.
The new store, located in Bentonville, Arkansas was a success and was followed by another shortly in Fayetteville, Arkansas. He introduced profit sharing for his employees, and arranged his stores in the modern style of having registers located only at the front, near the exit. Walton continued to expand, until he opened the first Wal-Mart in Wal-Mart was a success, and continued to grow.
Sam Walton initially opened his stores in smaller communities than the other major retailers would touch. Sam Walton always said that the customer was right, and all his stores have customer friendly features such as greeters, and a friendly, family oriented environment.
Behind the scenes though, Sam Walton was a brilliant and ruthless businessman. He worked very hard to keep his expenses low as possible, and as his business grew, he was able to buy even more merchandise at even lower prices.
He believed that the best results in business were found through generosity with employees. Profit sharing has always been a benefit for Wal-Mart employees.
By keeping his expenses down, building his stores in areas undesirable to his competition and introducing new concepts in retail practice, Sam Walton permanently changed the way the country shops. Despite his massive wealth, Sam Walton lived a consistent life.
He was class president of his high school and college classes, and was active in community activities such as the Rotary Club and chamber of commerce. He knew that he was not as smart as many others, but through hard work and dedication, he was able to push onwards to become the most successful man in retail worldwide.
He has established many charitable operations, such as college scholarships. When you are the most successful you can expect to be disliked, and Sam Walton was no exception. He has been criticized and hated for competing with small retailers, and putting them out of business.
Scandals about sweatshop conditions for makers of Wal-Mart merchandise haunted Sam, and still plague the management of Wal-Mart.
There are also groups who dislike him and Wal-Mart for making the whole country a little more alike, and a little less individual.Background Information of Sam Walton the Founder of Wal-Mart PAGES 2.
WORDS 1, View Full Essay. More essays like this: wal mart, sam walton, rotc, informations of sam walton. Not sure what I'd do without @Kibin - Alfredo Alvarez, student @ Miami University.
Exactly what I needed. Sam Walton. Founder of Wal-Mart Stores Inc. Founded: "There is only one boss-the customer. Sam Walton, founder of Walmart, one of the world's largest corporations, and one-time richest man in the world left an estimated $ billion fortune to his wife and four children when he died.
Known as Mr. Sam, Walton was an Eagle Scout, served as an Army captain during World War II, was an avid hunter and outdoorsman, and lived humbly. The history of Walmart, an American discount department store chain, began in when businessman Sam Walton purchased a store from Luther E.
Harrison in Bentonville, Arkansas, and opened Walton's 5 & The Walmart chain proper was founded in with a single store in Rogers, expanding outside Arkansas by and throughout the rest of the Southern United States by the s, ultimately . So much of Walmart’s history is tied to the story of Sam Walton himself, and so much of our future will be rooted in Mr.
Sam’s principles. The Road to Walmart Sam Walton was born in in . Samuel Moore Walton (March 29, – April 5, ) was an American businessman and entrepreneur best known for founding the retailers Walmart and Sam's arteensevilla.com-Mart Stores Inc.
grew to be the world's largest corporation by revenue as well as the biggest private employer in the world. At one point in his life, he was the richest man in America.