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Jan 13, 2020 · 2. “High expectations are the key to everything.”. – Sam Walton. 3. “If you love your work, you’ll be out there every day trying to do it the best you possibly can, and pretty soon everybody around will catch the passion from you – like a fever.”. – Sam Walton. 4. “Capital isn’t scarce; vision is.”. – Sam Walton.
Feb 4, 2023 · Key Lessons. (1) Walton is characterized as a hedgehog. The concept of hedgehogs and foxes. Sam Walton is a hedgehog. (2) Sam's main competitive trait. His passion to compete. It kept him on the go and moving ahead. (3) Founder's mentality. Believe in your idea even when others don't.
- Tan Jun Hao
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What does Sam Walton say about leadership?
- Trust People as Partners
- Find Ways to Motivate Your Partners
- Saturday Morning Management Meetings
- Don’T Take Things So Seriously
- Keep The Store Small
- Culture Is Inertia
Walton’s leadership can be summarized in one line: “Pick good people and give them maximum authority and responsibility.” Walton preferred hiring ambitious, entrepreneurial people. Even if someone seemed too inexperienced or lacked knowledge right then, they were recognized for their potential if they had the desire to work hard. Walton gave people...
In addition to having financial incentives, Walton instilled his love of competition to his team: 1. He set high goals, encouraged competition, and kept score. 2. He made ambitious bets on company performance, with outrageous payoffs. 3. He had managers switch jobs with one another to stay challenged and learn more dimensions of the company. “The b...
Wal-Mart long had the tradition of holding management meetings on Saturday morning. Hundreds of senior executives would attend, celebrating successes, discussing company strategy, and finding areas of improvement. Why the odd time? Walton felt that if store associates had to work on weekends, then the managers at headquarters should show up on Satu...
Walton felt it was important to have fun, not to walk around scowling all day “pretending you’re lost in thought over weighty problems.” He preferred a “whistle while you work” philosophy. People should know that they’re supposed to have a good time working. This spirit was inherited from their small-town roots: a love of parades, cheers, songs, an...
Even as Wal-Mart grew, Walton wanted the company to keep its small-store feel. In senior management meetings, they focused on how individual stores were doing on individual items.One store’s experience is what is happening to the entire company, times 10,000. Walton loved listening to individual employees. He particularly liked talking to the truck...
As healthy as a company culture might be, be aware that once a culture is in place, it becomes an inertial force and can make an organization resistant to change. For example: 1. Wal-Mart resisted hiring college graduates for a long time and even bullied them when hired. They believed that ambition and a tendency to get things done were more import...
Apr 2, 2014 · In 1962 Walton opened his first Walmart store in Rogers, Arkansas. Success was swift. By 1976 Walmart was a publicly traded company with share value north of $176 million. By the early 1990s ...
Walton told people to help each other as often as they could and in any way they could. This is shown by two rules that Sam Walton made up. The first is that Wal-Mart has an open-door policy. This policy said that employees could talk to their boss at any time. The second rule is called the “Sundown rule.”.
Like. “What we guard against around here is people saying, ‘Let’s think about it.’. We make a decision. Then we act on it.”. ― Sam Walton, Sam Walton: Made In America. 12 likes. Like. “I have always been driven to buck the system, to innovate, to take things beyond where they've been.”. ― Sam Walton.
Jul 23, 2001 · Walton was repeating his high school and college experiences, becoming the most popular man around. And there was what cannot have been the completely insignificant question of money. Before Walton, the local Ben Franklin did $72,000 in sales. Five years into Walton's tenure, it did a quarter of a million.
