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  1. Sam Walton - Wikipedia

    en.wikipedia.org › wiki › Sam_Walton

    Samuel Moore Walton (March 29, 1918 – April 5, 1992) was an American businessman and entrepreneur best known for founding the retailers Walmart and Sam's Club.Wal-Mart Stores Inc. grew to be the world's largest corporation by revenue as well as the biggest private employer in the world.

    • American
    • US$8.6 billion (at the time of death)
  2. Sam Walton - Walmart, Quotes & Facts - Biography

    www.biography.com › business-figure › sam-walton

    Mar 26, 2015 · Sam Walton was an American businessman best known for founding the retail chain Walmart, which grew to be the world’s largest corporation.

  3. Biography: Sam Walton | PBS NewsHour

    www.pbs.org › business-july-dec04-sam-walton_08-20

    Aug 20, 2004 · Wal-Mart Legacy. When Sam Walton died in 1992 he was the richest man in America, holding 38 percent in his company now worth more than $20 billion. Sam Walton’s widow, Alice, and their four ...

  4. The Life of Sam Walton, Founder of Walmart

    www.thoughtco.com › sam-walton-aka-samuel-moore
    • Pre-Walmart Years
    • Starting Walmart
    • Technology

    Walton attended the University of Missouri where he was elected senior class president. To pay the tuition bill, he worked as a lifeguard, waiter, and newspaper delivery driver. He graduated in 1940 with a degree in economics. Following graduation, he aspired to attend the Wharton School of Business at the University of Pennsylvania, but quickly found he couldn't afford it. Instead, he took a job as a manager trainee at J.C. Penney in Des Moines, Iowa, where he worked for 18 months before serving in the Army during World War II. After the war, Walton opened his first store, a Ben Franklin franchise, in Newport, Arkansas, on Sept. 1, 1945, after his wife insisted she would not live in a town of more than 10,000 people. In less than two decades, he owned 15 of the franchised stores. While still operating his Ben Franklin franchises, Walton approached Herbert Gibson, founder of an already-successful discount chain in the south, to discuss the possibility of a partnership. Rebuffed for...

    The first Walmart opened in 1962 in Rogers, Arkansas. Stores originally were located within a day's driving distance from the company's distribution center to ensure almost instantaneous restocking. Walmart's supply chain was so efficient it would order a product and have it sold in three days while having to pay vendors every thirty days. Sales increased from $313 million to $1.2 billion during the 1970s while the number of stores increased more than eightfold. Much of the increase came from bank debt, which was paid off mostly with proceeds from the company's 1970 initial public offering. In 1991, Walmart surpassed Sears, Roebuck & Company to become the country’s largest retailer. Sears fell to third place after Walmart and Kmart. In that same year, as the country was mired in an economic downturn, Walmart increased sales by more than 40%.

    Walmart embraced technology before many other companies. In the early 1980s, the business was one of the first to utilize UPC barcodes to automate the inventory process. In 1983, the business spent tremendous amounts of capital on a private satellite system that could track delivery trucks, speed credit card transactions, and transmit audio and video signals and sales data. Walmart later introduced online ordering with free pickup and mobile apps. Through the end of 2018, Walmart still was one of the largest companies in the world, with a market capitalization of more than $275.8 billion.

  5. Sam Walton | Biography & Facts | Britannica

    www.britannica.com › biography › Sam-Walton

    Sam Walton, American retail magnate who in 1962 founded Walmart, which became the largest retail sales chain in the United States and one of the biggest corporations in the world. He also established Sam’s Wholesale Club (1983). Learn more about Walton in this article.

  6. Sam Walton | Military Wiki | Fandom

    military.wikia.org › wiki › Sam_Walton
    • Early Life
    • The First Stores
    • A Chain of Ben Franklin Stores
    • First Wal-Mart
    • Personal Life
    • Legacy
    • Sources
    • Further Reading
    • External Links

    Samuel Moore Walton was born to Thomas Gibson Walton and Nancy Lee, in Kingfisher, Oklahoma. He lived there with his parents on their farm until 1923. However, farming did not provide enough money to raise a family, and Thomas Walton went into farm mortgaging. He worked for his brother's Walton Mortgage Company, which was an agent for Metropolitan Life Insurance, where he foreclosed on farms during the Great Depression.Sam Walton was an American businessman who founded the Wal-Mart Stores Inc. which grew to be the world’s largest corporation by revenue as well as the biggest private employer in the world. He and his family (now with another son, James, born in 1921) moved from Oklahoma. They moved from one small town to another for several years. While attending eighth grade in Shelbina, Missouri, Sam became the youngest Eagle Scout in the state's history.In adult life, Walton became a recipient of the Distinguished Eagle Scout Award from the Boy Scouts of America. Eventually the fa...

    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 Brotherschain. Walton pioneered many concepts that became crucial to his success. Walton made sure the shelves were consistently stocked with a wide range of goods. His second store, the tiny "Eagle" department store, was down the street from his first Ben Franklin and next door to its main competitor in Newport. With the sales volume growing from $80,000 to $225,000 in three years, Walton drew the attention of the landlord, P. K. Holmes, whose family had a history in retail.Admiring Sam's great success, and desiring to reclaim the store (and franchise rights) for his son, he refused to renew the lease. The lack of a renewal option, together with the prohibitivel...

    With the new Bentonville "Five and Dime" opening for business, and 220 miles away, a year left on the lease in Newport, the money-strapped young Walton had to learn to delegate responsibility. After succeeding with two stores at such a distance (and with the postwar baby boom in full effect), Sam became enthusiastic about scouting more locations and opening more Ben Franklin franchises. (Also, having spent countless hours behind the wheel, and with his close brother James "Bud" Walton having been a pilot in the war, he decided to buy a small second-hand airplane. Both he and his son Johnwould later become accomplished pilots and log thousands of hours scouting locations and expanding the family business.) In 1954, he opened a store with his brother Bud in a shopping center in Ruskin Heights, a suburb of Kansas City, Missouri. With the help of his brother and father-in-law, Sam went on to open many new variety stores. He encouraged his managers to invest and take an equity stake in t...

    The first true Wal-Mart opened on July 2, 1962, in Rogers, Arkansas.Called the Wal-Mart Discount City store, it was located at 719 West Walnut Street. He launched a determined effort to market American-made products. Included in the effort was a willingness to find American manufacturers who could supply merchandise for the entire Wal-Mart chain at a price low enough to meet the foreign competition. As the Meijer store chain grew, it caught the attention of Walton. He acknowledges that his one-stop-shopping center format was based on Meijer’s innovative concept.Contrary to the prevailing practice of American discount store chains, Walton located stores in smaller towns, not larger cities. To make his model work, he emphasized logistics, particularly locating stores within a day's drive proximity to Wal-Mart's regional warehouses, and distributed through its own trucking service. Buying in volume and efficient delivery permitted sale of discounted name brand merchandise. Thus, sustai...

    Walton married Helen Robson on February 14, 1943. They had four children: Samuel Robson (Rob) born in 1944, John Thomas (1946–2005), James Carr (Jim) born in 1948, and Alice Louise born in 1949. Walton supported various charitable causes. He and Helen were active in the Bentonville Church of Christ; Sam served as an Elder and a Sunday School teacher, teaching high school age students.The family made substantial contributions to the congregation.

    In 1998, Walton was included in Time magazine's list of 100 most influential people of the 20th Century. Walton was honored for his work in retail in March 1992, when he received the Presidential Medal of Freedom from President George H. W. Bush. Forbes ranked Sam Walton as the richest person in the United States from 1982 to 1988, ceding the top spot to John Kluge in 1989 when the editors began to credit Walton's fortune jointly to him and his four children. (Bill Gatesfirst headed the list in 1992, the year Walton died). Wal-Mart Stores, Inc. also runs Sam's Club warehouse stores. Walmart operates in the U.S. and in more than 15 international markets, including Argentina, Brazil, Canada, Chile, China, Costa Rica, El Salvador, Guatemala, India, South Africa, Botswana, Ghana, Malawi, Mozambique, Namibia, Tanzania, Uganda, Zambia, Kenya, Lesotho, Swaziland, Honduras,Japan, Mexico, Nicaragua and the United Kingdom. At the University of Arkansas, the Business College (Sam M. Walton Col...

    Trimble, Vance H. (1991). Sam Walton: the Inside Story of America's Richest Man. Penguin Books. ISBN 0-451-17161-6. ISBN 978-0-451-17161-0
    Walton, Sam; John Huey (1992). Made in America: My Story. New York: Doubleday. ISBN 0-385-42616-X.
    Bianco, Anthony (2006). The Bully of Bentonville: how the high cost of Wal-Mart's everyday low prices is hurting America. New York: Currency/Doubleday. ISBN 0-385-51356-9.
    Scott, Roy Vernon; Vance, Sandra Stringer. Wal-Mart: A History of Sam Walton's Retail Phenomenon. ISBN 0-8057-9833-1.
    "Time 100 Builders & Titans: Sam Walton by John Huey". Time Magazine. December 7, 1998. Archived from the original on October 18, 2000. https://web.archive.org/web/20001018095153/http://www.time.co...
  7. The Leadership of Sam Walton | Michael A. Hartmann |Research ...

    michaelhartmann.org › the-leadership-of-sam-walton
    • Abstract
    • The Leadership of Sam Walton
    • The Competing Values Framework
    • Sam Walton
    • Conclusion
    • References
    • Appendix

    Sam Walton is best known for being the founder of Wal-Mart, the most successful retail outlet in the world. Sam Walton was able to provide leadership to transform his innovative concepts into a revolution within the industry. Even after his death in 1992, his legacy continues to inspire other leaders who would like to enjoy the same success. Leaders can study Sam Walton’s leadership skills and use them as a model to sharpen their own skills.

    Introduction

    Exceptional leadership is a critical factor in making any organization successful. An individual that is a true leader will be able to take a company to a place they wouldn’t go to by themselves by providing vision, direction, and passion. Sam Walton is acknowledged as one of the few leaders in the 20th century who built an entrepreneurial empire based on his own vast array of leadership expertise. An introduction to the various distinct leadership roles will be presented in addition to an ex...

    Leadership Roles

    The Competing Values Framework consists of eight distinct roles that leaders perform in an organization. Each role consists of different attributes that belong to an individual leader that will demonstrate their function in the organization. This model and framework is created to provide assistance in recognizing organizational dynamics and notions concerning the rationale and structure of work, interactions among workers, and decision-making functions. The eight roles are the mentor, facilit...

    The Mentor

    A mentor is a leader that holds a wealth of experience and is a trusted advisor (Jewell, 2001). An individual who retains mentor traits will be characterized by being a caring and kindhearted leader. A manager who is a mentor will focus on building on open and fair relationship with his subordinates as each one of them was a protégé. A mentor will take the time to listen to an employee’s concerns and will extend his/her help whenever possible. Mentors recognize that people are essential resou...

    The Facilitator

    The facilitator role is a human relations role as well. Like the mentor, the facilitator is proficient in their listening skills, is kindhearted towards others and is sensitive to the concerns of others. While a mentor may focus on individual development primarily on a one on one basis, a facilitator will focus their attentions to providing cohesion within a group (Quinn et al., 2003). Facilitators will skillfully expedite the needs of a group to build a model working team environment (Jewell...

    Wal-Mart Background and History

    Wal-Mart Stores, Inc. is currently the world’s leading retailer, boasting $256.3 billion in sales in the 2003 fiscal year. The corporation has more than 1.3 million employees worldwide. Wal-Mart has more than 4,900 facilities around the world that are comprised in all 50 states, Puerto Rico, and eight foreign countries. The company claims that more than 100 million patrons per week visit their stores globally. Wal-Mart competes in the industry by offering everyday low prices to their customer...

    The Definitive Director

    Out of the various leadership roles that Sam Walton’s guidance provided, his clear dominant role was that of a director. Walton was the motivating force behind the vision and direction of the company (Walton & Huey, 1992). Visions help employees share a clear sense of what the company is striving for (Spurge, 1997). Sam was truly the beat of the heart of the company. Sam firmly believed that embedding a strong company culture into Wal-Mart was the primary key to success. Sam believed that onc...

    The Lucid Innovator

    Sam Walton was a genuine innovator who came up with his own philosophies for conducting business. He constantly sought-after change to improve the system and developed novel measures to adapt to Wal-Mart’s overwhelming growth and profitability concerns. To do this, he had to think creatively as well as to encourage others to furnish their own resourceful ideas that would enhance the organization. Sam was known as being a master at implementing changes that he was passionate about within the c...

    Under the drive, vision and inspiration of Sam Walton, Wal-Mart’s phenomenal growth and pursuit of excellence is unparalleled. Even a decade after his death, Wal-Mart continues to adhere to his principals and the guidance that his leadership bestowed. Many companies have borrowed some of his beliefs and management techniques to improve their own companies. Few businessmen have impacted society directly or indirectly the way Sam Walton has. Successful leadership extends past mere profitability results and can be seen in the culture of the company. Sam Walton can be looked at as a role model for all leaders to follow in their journey to success.

    BrainyQuote (2004). Sam walton quotes and quotations. Retrieved September 2, 2004 from http://www.brainyquote.com/quotes/authors/s/sam_walton.html Fitzgerald, K. (2002). Business biography. Retrieved August 30, 2004 from http://www.stfrancis.edu/ba/ghkickul/stuwebs/bbios/biograph/walton1.htm Jewell, E. (ed.). (2001). The oxford american desk dictionary and thesaurus. New York: Berkley. Kotter, J.P. (1996). Leading change. Boston: Harvard Business School Press. Maxwell, J.C. (1998). The 21 irrefutable laws of leadership. Nashville, TN: Thomas Nelson. Quinn R, Faerman S., Thompson M., & McGrath M. (2003). Becoming a master manager. John Wiley and Sons, Inc. Refresher Publications. (1999). Sam walton’s 10 rules for success. Retrieved September 1, 2004 from http://www.refresher.com/!walton Spurge, L. (ed.). (1997). Knowledge exchange business encyclopedia illustrated. Santa Monica, CA: Knowledge Exchange. Wal-Mart (2004). Wal-mart stores, inc. at a glance. Retrieved September 1, 2004 fr...

    Sam Walton’s “Ten Rules for Success” was the strength behind forming the culture of Wal-Mart (Refresher Publications, 1999). 1. Commit to your business. Believe in it more than anything else. If you love your work, you’ll be out there every day trying to do the best you can, and pretty soon everybody around will catch the passion from you – like a fever. 2. Share your profits with all your associates and treat them as partners. In turn, they will treat you as a partner, and together you will all perform beyond your wildest expectations. 3. Motivate your partners. Money and ownership aren’t enough. Set high goals, encourage competition and then keep score. Make bets with outrageous payoffs. 4. Communicate everything you possibly can to your partners. The more they know, the more they’ll understand. The more they understand, the more they’ll care. Once they care, there’s no stopping them. Information is power, and the gain you get from empowering your associates more than offsets the...

  8. Sam Walton Biography - Entrepreneur

    www.entrepreneur.com › article › 197560

    Sam Walton. Founder of Wal-Mart Stores Inc. Founded: 1962 "There is only one boss-the customer.And he can fire everybody in the company from the chairman on down, simply by spending his money ...

  9. Our History - Walmart

    corporate.walmart.com › our-story › our-history

    Sam Walton was born in 1918 in Kingfisher, Oklahoma. In 1942, at the age of 24, he joined the military. He married Helen Robson in 1943. When his military service ended in 1945, Sam and Helen moved to Iowa and then to Newport, Arkansas. During this time, Sam gained early retail experience, eventually operating his own variety store.

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