Sam Walton – an American Business Icon

Walmart is one of the biggest retailer chains in the world. The best thing about this chain is that almost all of their items are on sale but they often run promotion and you can use Walmart promo codes to avail them.

This retailer chain was founded by Sam Walton in 1962, in the United States of America. He established this hypermarket chain single-handedly from nowhere. He was a man who believed in the leadership through service. He set the goal of great value and customer service for his company and brought it to the point where customers are considered as real boss. He transformed the way Americans shopped. MakingWalmart No 1 Company of the world in a period of less than 30 years, he got himself listed in the list of few most of the richest men of the world.No doubt, he is a business icon for new entrepreneurs.

Sam Walton

Early Career

Sam Waltonwas born in Kingfisher, Oklahoma, on 29thMarch, 1918. He started his career as a sales trainee at a J.C. Penny Store. He then decided to quit as a salesman and joined Army as a communication officer in 1942. After leaving Army, he started a business. With the hard work and lower prices as compared to other retailers, he soon converted his business to the leading Ben Franklin in the six states of the USA.

After a dispute to his Landlord on selling the business, he had to lose the lease and then had to start something new from scratch. He did not lose hope and searcheda new place for setting up another business. He set Walton’s Five & Dime in a community known as Bentonville. He continued to sell things in cheaper prices as compared to other retailers, and soon his business started getting success same as the previous one.

Building a Large Empire

By 1960, he was owner of 15 stores at different locations, but he was not satisfied by the amount of profit he was making after putting so much efforts. He decided to tweak his “sales” strategy and apply it to a new venture. The idea was to dramatically cut the prices to compete with his business rivals. At that time there were many sales stores but most of them were small and located in the cities. Walton was thinking of big stores in small towns, with everything on a special discounted price.

In 1962, Sam Walton successfully opened his dream store, named, Wal-Mart, in Rogers, which is a city of Arkansas. Like his previous ventures, he soon started gaining success, and after the short period of 14 years, in 1976, his company had a share value of about $176 million. By the time, when the last decade of the century started, the stock value of Walmart had jumped to $45 billion. In 1991, Walmart had become No 1 retailer chain in the USA leaving behind many top names.

With a number of Walmart stores throughout the world, this chain also deals online through their website. Other than many good priced deals, the chain also offers Walmart promo codesthat can be used easily.

Walton was very clear about his vision for businesses. He set three objectives as the base of all of his businesses; distinctive competitive positioning, cost efficiency, and employee dedication.

Death of a Legend

The great mind behind one of the successful retail stores died in 1992. Sam was suffering from two types of cancer at the same time. He was fighting with hairy-cell leukemia, and bone marrow cancer.

Posted by OSCRM

0 Comment

Comment Form

Your email address will not be published.

Scroll to Top