Walmart Overview
Wal-Mart Stores Inc.
5/6/13
Abstract
1950s and 1960s During the post-war years of the early 1950’s, America experienced an economic shift from military emphasis to one that was consumer driven. Many sought out to start their own businesses because of this economic boom, but a man by the name of Sam Walton had a much greater vision towards the art of business. Walton decided to purchase a store in Bentonville, Arkansas and turn it into a discount department store called, “Walton’s 5 & 10.” Surprisingly, his business did very well because the main focus was to keep sales prices lower than his competitors. In 1962, Walton opened another discount department store by the name of, “Wal-Mart” and it gave rise to the extremely successful enterprise we know it as today.
1970s and 1980s Wal-Mart was known for satisfying consumer needs with their discounted products which included everything from home necessities to outdoor merchandise. The company began trading stock as a publicly held company in 1970, and was soon featured on the New York Stock Exchange. As any successful business should do, in 1979 Wal-Mart established a foundation were the needs of the underserved are met through charitable giving in ways such as hunger relief, sustainability, women’s economic empowerment, and career opportunities. The 1980’s for Wal-Mart served as a period of industrial expansion and improved interconnectedness within the system. With an outstanding $1 billion annual sales revenue in the beginning of the decade, the company expanded further by creating another retail chain called, “Sam’s Club” which offered bulk items to customers who purchase warehouse memberships. Moreover, an improved version of the regular Wal-Mart store was initiated by creating Supercenters, which offered auto services, optical care, one-hour photo processing labs, portrait studios, and numerous small shops such as banks, cellular telephone stores, hair and nail salons, video rental
5/6/13
Abstract
1950s and 1960s During the post-war years of the early 1950’s, America experienced an economic shift from military emphasis to one that was consumer driven. Many sought out to start their own businesses because of this economic boom, but a man by the name of Sam Walton had a much greater vision towards the art of business. Walton decided to purchase a store in Bentonville, Arkansas and turn it into a discount department store called, “Walton’s 5 & 10.” Surprisingly, his business did very well because the main focus was to keep sales prices lower than his competitors. In 1962, Walton opened another discount department store by the name of, “Wal-Mart” and it gave rise to the extremely successful enterprise we know it as today.
1970s and 1980s Wal-Mart was known for satisfying consumer needs with their discounted products which included everything from home necessities to outdoor merchandise. The company began trading stock as a publicly held company in 1970, and was soon featured on the New York Stock Exchange. As any successful business should do, in 1979 Wal-Mart established a foundation were the needs of the underserved are met through charitable giving in ways such as hunger relief, sustainability, women’s economic empowerment, and career opportunities. The 1980’s for Wal-Mart served as a period of industrial expansion and improved interconnectedness within the system. With an outstanding $1 billion annual sales revenue in the beginning of the decade, the company expanded further by creating another retail chain called, “Sam’s Club” which offered bulk items to customers who purchase warehouse memberships. Moreover, an improved version of the regular Wal-Mart store was initiated by creating Supercenters, which offered auto services, optical care, one-hour photo processing labs, portrait studios, and numerous small shops such as banks, cellular telephone stores, hair and nail salons, video rental
References: Govindarajan, V., & Gupta, K. A. (2002). Taking Wal-Mart Global: Lessons From Retailing’s Giant. Strategy + Business, 17. Retrieved from http://www.strategy-business.com/article/13866?pg=0 Experience Walmart’s History. (2012) Retrieved May 7, 2013, from http://corporate.walmart.com/our-story/heritage/history-timeline