about sam walton walmart his major decisions learning lessons from him.. enjoy

1. Enrollment no. 167780592081
Module 5
(Strategic Management)
2017-2018

2.  Sam Walton was an American
businessman best known for founding
the retail chain Wal-Mart, which grew
to be the world’s largest corporation.
 Sam Walton was born on March 29,
1918, in Kingfisher, Oklahoma. Walton
opened the first Wal-Mart in 1962,
after years in the retail management
business. The discount chain
expanded internationally over the next
30 years, growing into the world’s
largest company by 2010. Walton
stepped down as CEO in 1988, at the
age of 70, but remained active in the
company until his death in 1992.

3.  First Wal-Mart opened in 1962 in Rogers, Arkansas.
 By 1970, the Walton owned 18 Wal-Marts
 1991- Wal-Mart became worlds largest retailer with a total of 1,700 stores
 Wal-Mart as a Company
 Sells a wide variety of goods at a low price
 Products are bought in large quantities from the lowest priced wholesaler and
savings are passed to the customers
 Reflect Walton’s belief that “Each Wal-Mart store should reflect the values of
its customers and support their vision they hold for their community”
 Customers are greeted at the door
 Gives out a scholarship to a graduating senior each year
 Having many products in one place is convenient to the customers

4.  In 1945, after leaving the military, Walton took over management of his first
variety store at the age of 26. With the help of a $20,000 loan from his father-
in-law, plus $5,000 he had saved from his time in the Army, Walton purchased a
Ben Franklin variety store in Newport, Arkansas. The store was a franchise of
the Butler Brothers chain.
 1948- could not renew his lease so he bought a new store in Bentonville,
Arkansas, called it Walton’s 5 & 10
 1952- opened another store in Fayetteville, Arkansas
 By early 1960’s co-owned 16 stores in 3 states, Arkansas, Missouri and Kansas

5.  In the late 1940s, Sam Walton opened his second Ben Franklin variety store
franchise.
 He was First to automate inventory process using a UPC barcode
 By 1969, Wal-Mart consisted of 38 stores that rang up $44.2 million in sales.
That year, the company officially incorporated as Wal-Mart Stores, and the
year after it opened a company headquarters and distribution center in
Bentonville, Arkansas
 In 1970, he decided to take the company public. The initial offering generated
nearly $5 million, and although Walton and his family retained 61 percent
ownership of the stock, the proceeds allowed him to pay off the company's
debts and move forward with his ambitious expansion plans.

6.  1983- set up a private satellite system to track deliveries, process credit
transactions, and transmit data
 In the first year after going public, Wal-Mart added six stores, followed by 13
stores in each of the next two years, then 14, then 26. By the end of 1980,
Walton had 276 stores and would soon be opening stores at the rate of about
100 per year.
 By 1987, Wal-Mart had become the third-largest retailer in the United States,
trailing only Sears and Kmart.
 At Wal-Mart's annual meeting in June 1990, Walton predicted that the
company's revenue would quintuple to $125 billion within the next decade. Over
the next two years, Wal-Mart soared past Kmart and Sears to become the
nation's largest retailer
 On March 17, 1992, President George Bush presented Walton with the Medal of
Freedom for his entrepreneurial spirit and his concern for his employees and
community. It would be his last, greatest achievement. A few days later, Walton
checked into the University of Arkansas Hospital and passed away on April 5,
1992, six days after his 74th birthday. At the time of his death, he had a net
worth of nearly $25 billion.

7.  Leaders Are Driven By Their Vision
He had a very simple but clear vision for Wal-Mart when he started and it
still remains, “Everyday low prices for the American working class.”
 Leaders Expect Great Things
Sam Walton was a man of high expectations. It is said that, right from his
childhood onward, he always had a “never give up” attitude.
 Leaders Learn From Everyone
Sam Walton is known for remaining connected with his business at the grass-
roots level until his end.
 Leaders Communicate Their Vision
He made sure that the mission of the company is reinforced in
everybody’s mind each morning. He made sure everybody in the team
knows and remembers the mission before they begin the day.
 Leaders Don’t Quit, They Persevere
Speaking of perseverance, Walton once said,I had to pick myself up and get on
with it, do it all over again, only even better this time.

8.  Leaders Are Risk Takers
 Leaders Are Humble & Relatable
Walton portrayed a humble image right up until his death. His vehicle of choice
was a red 1985 Ford pickup. With his wife Helen, whom he married in 1943, he
lived in the same house in Bentonville, Arkansas, since 1959.
 Leaders Work Harder Than Everyone Else
Sam Walton was not one of the brightest kids on the block during his
childhood. Going through school was not easy for him. It seemed like other
children could make good grades very easily while he had a hard time. So
he had to work hard for his good grades. The good news; he was
determined. He worked harder than anybody else and became an honor
student
 Leaders Have Faith In Others
He was a people encourager. He believed in people he entrusted as his
associates and valued their contribution.
 Leaders Keep Their Focus On The Goal
His vision was on providing everyday, inexpensive prices to the American
working class. When Ben Franklin’s board didn’t agree with his idea, he
went ahead and took his chances to bring his vision to reality. He worked
hard to build a company that became the pinnacle of success in the retail
industry.