Walmart

Powerful Essays
Based on your review and analysis of the annual report, prepare a ten to twelve (10-12) page report in which you:

In order to understand why Walmart has been so successful in implementing their strategies, you have to first understand the man behind the vision. Sam Walton came from humble beginnings. Sam grew up on a farm and because his father learned that there was not enough profit in being a farmer he decided to pursue a career in the mortgage. He grew up during the Great Depression and was responsible for financially contributing ranging from selling bottled milk and newspapers to magazine subscriptions. Sam Walton graduated from the University of Missouri with an economics degree in 1940. His first job was as a management trainee at Penny’s. Here he learned the basics of business management. His stay at Penny’s was short lived as he was called to active duty for World War II.

Once the war ended, he purchased a franchise and opened a Ben Franklin retail variety store in Newport, Arkansas. Soon after he opened his own store called Walton’s 5 and 10 and operated it as Ben Franklin affiliated store. Shortly thereafter, Walton became the largest Ben Franklin franchise owner, with nine stores. He became concerned about the competitive threat that discount stores were having on variety stores and so he decided to study the changes in retail stores and there trends. He wanted to develop a discount store of his own. He had a strong desire to offer significantly discounted prices in order to expand sales volume in order to increase overall profits. On July 2, 1962, Sam Walton started his own discount store in Rogers, Arkansas. It was hugely successful and Walton wanted to expand into smaller markets and get the talent he needed to grow the company.
Analyze the company’s mission and vision statements against the performance of the organization. Then, evaluate how well the company lives out its mission and vision statement. Provide support from

You May Also Find These Documents Helpful

  • Good Essays

    Walgreens

    • 3686 Words
    • 15 Pages

    Walgreens is the nation’s leading retail pharmacy and drug store chain. Starting with a single location in Dixon, IL in 1901, Walgreens has grown to 7,500+ (as of 2010) locations throughout the United States. Walgreens employs approximately 244,000 people nationwide and services 5.9 million customers daily. They are…

    • 3686 Words
    • 15 Pages
    Good Essays
  • Powerful Essays

    Sam Walton was born in 1918 in Kingfisher, Oklahoma during the Great Depression. Sam obtained his work ethic from his father Thomas Gibson Walton who was a hard worker and had all sorts of jobs. He was a banker, farmer, farm-loan appraiser and an agent for insurance and real estate. He put in long hours, was honest and was known for his integrity. Sam also saw what a great negotiator he was. He also learned about hard work from his mother who had a milk business. Sam experienced earning money at the early age of seven by selling magazine subscription. He started a paper route kept it up through college. Through his early jobs, Sam learned how much hard work it took to earn a dollar. From his parents he also learned not to spend money.…

    • 1342 Words
    • 6 Pages
    Powerful Essays
  • Good Essays

    A pioneering businessman who broke convention and showed that large discount stores could thrive in small, rural areas, Samuel Moore Walton was born March 29, 1918 in Kingfisher, Oklahoma. He was the first son of Thomas Walton, a banker, and his wife, Nancy Lee. Early in his life Walton and his family moved to Missouri, where he was raised. An able student and a good athlete, Walton quarterbacked his high school football team and was an Eagle Scout. Upon his graduation from Hickman High School in Columbia, Missouri, in 1936, his classmates named him "most versatile boy." After high school, Walton stayed close to home and enrolled at the University of Missouri in Columbia, where he graduated with a degree in economics in 1940.…

    • 693 Words
    • 2 Pages
    Good Essays
  • Good Essays

    Sam Walton Leadership

    • 672 Words
    • 3 Pages

    Sam Walton is also an intelligent leader as he changed the way how retailing was done at that era. Originally the discount stores are always located at urban areas and only sell little types of items. Sam Walton then decide to change its way by having large superstores opened in rural towns and have wide variety of products with lower prices. His way has proven a success as he was able to open 18 WalMarts stores in just 7 years from the benefits he gets from his way of retailing. This has successfully changes the way of retailing as many other owners start to learn his way to retail. In addition, Sam Walton also came out with another idea, Sam’s Wholesale Clubs, a discount store that sells products to small business owners in bulk. This idea is another great idea by Sam Walton as it brought more benefits and even made him become a billionaire with a net worth of 2.8 billions. With Sam Walton’s intelligence, he had successfully changes the ways how retailing was done back then and has gain a great amount of benefits from his ideas.…

    • 672 Words
    • 3 Pages
    Good Essays
  • Satisfactory Essays

    In preparation for your report, conduct your review of the organization using the following approach:…

    • 599 Words
    • 4 Pages
    Satisfactory Essays
  • Powerful Essays

    Sam Walton

    • 1769 Words
    • 8 Pages

    After college Sam went on to “do a management position at J.C. Penny’s and remained there until 1962. Late in 1962 Sam Walton changed this world, and he opened the first Wal-Mart”( “Sam Walton“ InvestingValue)(see “First Wal-Mart Store“). “We opened our first Wal-Mart here in Northwest Arkansas” (Walton and Huey XI). With his first Wal-Mart open he didn’t see the outstanding success that he had planed for when he went into this investment. “[...] first starting out he only had $5,000 of his own money, and he had to borrow $20,000 from his girlfriends father-in-law” (Walton and Huey…

    • 1769 Words
    • 8 Pages
    Powerful Essays
  • Satisfactory Essays

    Sam Walton Essay

    • 443 Words
    • 2 Pages

    Born in Kingfisher, Oklahoma, Sam Walton was raised in Missouri where he had his first retailing experience in his father's store while attending school. Growing up during the Great Depression, Sam Walton knew that hard work and thrift were a way of life. He milked the family cow, bottled surplus and drove it customers. Afterwards, he would deliver newspapers on a paper route. He enjoyed working in his father's store so much, after graduating from the University of Missouri in 1940 where he majored in Economics, he began his own career as a retail merchant when he opened the first of several franchises of the Ben Franklin five-and-dime franchises in Arkansas.…

    • 443 Words
    • 2 Pages
    Satisfactory Essays
  • Good Essays

    Sam Walton

    • 791 Words
    • 4 Pages

    There were several characteristics of Sam Walton that enabled him to be successful in his life and business dealings. Sam Walton could do anything he put his mind to. This can be witnessed in his ability to transform a small town store into a 25 billion-dollar industry at the time of his death. Walton did not want to be poor, and this helped to push him when the going got tough because he knew what the possible outcome would be. For example, when Walton first started producing more Wal-marts, he was in great debt. In fact the only way he could get out was to make more stores and continue to set lower prices than the competition. Walton grew up into a poor environment as a child, so he knew what it was like to be at the short end of the stick. Perhaps his difficult childhood gave him something to strive towards later on in his life. Walton learned several things from others as well. For instance, he learned to economize from his job at J.C. Penney. And while he was developing his first general store, Walton saw what the competition was doing wrong, and did the complete opposite, such as selling more quantity in order to make a bigger profit in the long run. It can probably be stated that Sam Walton would not have been as successful if his devoted wife had not been there along his side. Always there for him, Mrs. Walton was able to keep the entire family together during the hard and difficult times. While Sam was out doing the dirty work trying to make something of his business, Mrs. Walton was playing the role of mother and father back at home. Sam Walton had to create and develop his business in a very difficult environment. Competition was all around, and most people saw Walton's store as a dead-end flop when it first began. Before the founding of Wal-mart, all of the businesses were the same, trying to set prices in hopes of large gains from not so large quantities. Walton saw what was going on and took advantage of what he saw. Thinking in terms of volume,…

    • 791 Words
    • 4 Pages
    Good Essays
  • Powerful Essays

    Sam Walton Essay

    • 1341 Words
    • 6 Pages

    The student has had the pleasure of working for Walmart, Sam Walton, was an amazing man with only his dream. Sam Walton was born in Kingfisher on March 29, 1918 (Shottenkirk, 2007). Walton was raised on the family farm until 1923, and he attended Hickman High School in Columbia and played basketball and football (Shottenkirk, 2007). Walton attended the University of Missouri there he learned his good business sense, majoring in economics (Shottenkirk, 2007). In 1987, Walton was inducted into the Oklahoma Hall of Fame (Shottenkirk, 2007). The first Wal-Mart Supercenter followed in 1988 in Washington, MO.; Walton lived long enough to see his company become the nation’s No., one retailer in…

    • 1341 Words
    • 6 Pages
    Powerful Essays
  • Good Essays

    Walmart Case Study

    • 1137 Words
    • 5 Pages

    Founder- Sam Walton, born in 1918 Alma mater-University of Missouri 1940 Worked –J.C.Penny First lesson-”Offering significant discount on product prices to expand volume and increase overall profits.” • Business growth 1) Pharmacy 2) Auto service center 3) Jewellery. • Time constraints• Expansion-in 1990, Joint venture with Cifra. • • • •…

    • 1137 Words
    • 5 Pages
    Good Essays
  • Powerful Essays

    Ecom 2 1 week 2 Project

    • 828 Words
    • 2 Pages

    5. Write a 2-3 page report on your findings, plus any necessary appendixes (i.e. organizational charts, graphs etc.)…

    • 828 Words
    • 2 Pages
    Powerful Essays
  • Good Essays

    Sam Walton Research Paper

    • 662 Words
    • 3 Pages

    An example of how he dealt with people against him small family owned businesses claimed that Walton was taking all their money but Walton didn't let that get to him. Sam promised a place where people can work and also promised to give money to charities nearby places. Almost always the donations were made. Despite going through tough times Sam's stores still remained rewarding. Sam played a large role in making Walmart successful. He was an extremely hard worker. He started working as soon as 4:30 in the morning and he wasn’t afraid to fire people that were underperforming, he wanted the results that were expected. He held high expectations because he was confident that Walmart can be successful. That kind of mentality was good for walmart and was part of its success. Another part of his success was his belief that the customers were the boss. One of his most famous quotes is “There is only one boss. The customer. And they can fire everybody from the chairman and down, simply by spending their money somewhere else”. Another great quote by Walton is “Individuals don’t win; teams do”. Today Walmart has over a million employees and has opened over 2000 stores since 1991. It has more than 6,300 stores worldwide today, including stores in Asia and Africa. It has payed off, his net worth is an amazing $34.9 billion. That includes being named the richest man in America in 1985 by Forbes. Now what has he done for the retail…

    • 662 Words
    • 3 Pages
    Good Essays
  • Good Essays

    Although to some of us it may seem Wal-Mart is only a few years old, it is actually over forty years old. It was founded in 1962 by Oklahoma native, Sam Walton. He was known to be a very cheap man; he was always on a hunt for low prices, it was a natural lifestyle for him. He still visited his regular barber and spent no more than $5 for his haircuts, although he was ranked as America 's richest man during the 1980 's. He always found a way to save money, therefore saving his customers money and still make a profit through volume. His charisma and leadership skills helped him to keep his staff or "associates", as he called them, happy. Also, the fact that he lived his life modestly showed that he was on a crusade for the lowly consumer, as he was always looking for better deals from suppliers.…

    • 684 Words
    • 3 Pages
    Good Essays
  • Better Essays

    Walmart vs Target

    • 1078 Words
    • 5 Pages

    The founder of Wal-Mart Sam Walton major competition during the time was K-Mart and Target. Before opening Wal-Mart, Sam traveled the country studying everything he could about discount retailing. He became convinced American consumers wanted a new type of store. With his vision in mind Sam and his wife front loaded 95% of the initial cost to start the chain while many of the chains were expanded nationally. They opened their first store in Rogers, Arkansas. The chain was able to expand by 15 stores in the 1960’s. The company hit the stock market in 1972 and went viral with a current inventory of 1,402 stores and 123 Sam’s Club locations. Wal-Mart stores provide a wide variety of discount merchandise, groceries and prescription medication. Sam stated in his autobiography which attributed to his success “if you think about it from the point of view of the customer, you want everything: a wide assortment of quality merchandise; the lowest possible prices; guaranteed satisfaction; friendly, knowledgeable service; convenient hours; and a pleasant shopping experience. You love it when a store exceeds your expectations, and you hate it when a store inconveniences you, gives you a hard time, or pretends you 're invisible."…

    • 1078 Words
    • 5 Pages
    Better Essays
  • Good Essays

    Sam Walton Entrepreneur

    • 693 Words
    • 3 Pages

    Sam Walton – the founder of the world’s largest retailer, Walmart. From Midwest origins, Sam Walton began his retail career as a sales trainee at a J.C. Penny in Des Moines, Iowa (Sam Walton). His boss once threatened to fire him, because his books were always a mess. But Mr. Walton cared more about customer service than organized books, but was not fired because he was such a good salesman, he “added about $25 per month in commissions to his beginner's salary (Sam Walton).”…

    • 693 Words
    • 3 Pages
    Good Essays