Wal-Mart is a family owned business that was founded by Sam Walton on July 02, 1962 in Rogers, Arkansas. It is the nation largest retail discount store in the world with 4,500 stores in the United States and more than 10,150 worldwide. Within five years of being in business, the company expanded to 24 stores ringing up 12.7 million in assets. In 1969, Wal-Mart officially became incorporated as Wal-Mart Stores, Inc and became a publicly traded company in 1970 (www.corporate.walmart.com, 2012). Wal-Mart Stores, Inc. focused on the growth and expansion of the corporation, which is called a growth strategy (DeNisi, 2012), and they opened their first distribution center and home office in Bentonville, Arkansas. In 1972, they were listed on the New York Stock Exchange and with 51 stores their recorded sales was $78 million. By 1980, Wal-Mart reached $1 billion in annual sales with 276 stores and 21,000 employed associates. Continuing with the growth strategy, Wal-Mart opened the first Sam’s Club in Midwest City, Oklahoma and with sales steadily increasing they celebrated its first 100 billion sales year in 1997 (www.corporate.walmart.com, 2012).
Wal-Mart rich heritage define who they are and what they do today. Due to their innovative thinking, leadership through service and commitment to saving their customers money so they can live better have made the business what they are today and are shaping the future of the company (www.corporate.walmart.com, 2012). Since the first Wal-Mart store opened in 1962, Sam Walton has been dedicated to making a difference by impacting the communities in a positive way. His visionary leadership focused on helping the customers and communities by offering low prices. In addition to helping their customers and communities, the Wal-Mart Foundation that was established in 1979 provides grants to organizations that share their mission which is to create opportunities so people can live better. In...
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