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    Sam Walton Made in America

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    Pooja Parekh
    Sam Walton was the founder of Walmart. He started his first store in Rogers, Arkansas in 1962 and grew it into the largest retailer in the world through his philosophy of always providing value to customers. Walton emphasized learning from mistakes and others, and promoting a culture of new ideas. He ensured his family was also involved in the business from a young age. The document provides biographical details on Walton and his path to success with Walmart.

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    Sam Walton Made in America

    Uploaded by

    Pooja Parekh
    4K views20 pages
    Sam Walton was the founder of Walmart. He started his first store in Rogers, Arkansas in 1962 and grew it into the largest retailer in the world through his philosophy of always providing value to customers. Walton emphasized learning from mistakes and others, and promoting a culture of new ideas. He ensured his family was also involved in the business from a young age. The document provides biographical details on Walton and his path to success with Walmart.

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    Sam Walton was the founder of Walmart. He started his first store in Rogers, Arkansas in 1962 and grew it into the largest retailer in the world through his philosophy of always providing value to customers. Walton emphasized learning from mistakes and others, and promoting a culture of new ideas. He ensured his family was also involved in the business from a young age. The document provides biographical details on Walton and his path to success with Walmart.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    4K views20 pages

    Sam Walton Made in America

    Uploaded by

    Pooja Parekh
    Sam Walton was the founder of Walmart. He started his first store in Rogers, Arkansas in 1962 and grew it into the largest retailer in the world through his philosophy of always providing value to customers. Walton emphasized learning from mistakes and others, and promoting a culture of new ideas. He ensured his family was also involved in the business from a young age. The document provides biographical details on Walton and his path to success with Walmart.

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    Download as pptx, pdf, or txt
    of 20

    By : Sunny Dwivedi Jagdish Jain 10 15 16 18 29

    A BOOK REVIEW

    Vihang Joshi Sachita Kakadia Komal Parekh

    Mayank Rathod

    36

    O n

    WHO IS THE REAL SAM WALTON???


    Samuel Moore Walton (Mar 29,1918 - April 6,1992). Founder of Wal-mart. Declared richest man in America in October 1985 by Forbes.

    Born in 1918 in Kingfisher, Oklahoma during the Great


    Depression.

    KEY CONCEPTS
    To Value A Dollar Sam Waltons First Job Wal-Mart's Philosophy

    Bouncing Back
    First Wal-Mart Raising A Family Going Public

    TO VALUE A DOLLAR
    Sam Waltons father Thomas Walton was a hardworker
    and loved to trade. He learned from early age to help provide for the home. Started selling magazines, subscriptions and also had paper routes from very young age.

    Sam always set extremely high personal goals.


    Since high school he paid for all his expenses.

    HIS FIRST JOB


    Sam joined J.C. PENNEY a retailing company as a management trainee. There watching store manager he got excited about retailing. He married Helen in 1943 while still on commission.

    WAL-MARTS PHILOSOPHY
    In his store he would buy an item for 80 cents, priced it to sell at 1$ and sell 3 times more of it than pricing it at 1.20$. The overall profit was much greater. By cutting the price it boosted the sales to a point where it

    earned far more at cheaper retail price than it would have by


    selling the item at higher price.

    BOUNCING BACK
    Due to lease contract he had to sell his store and move.
    It lead him to bigger and better things. Sam moved with his family to Bentonville, Arkansas to open self service Five & Dime store which at that time was a new concept. He expanded it very rapidly and opened many variety stores but, a new concept of discount stores came into existence and sam immediately sensed that disount-idea was the future.

    FIRST WAL-MART
    He built a store in Rogers, Arkansas. Nobody wanted to gamble on it so Sam had to put up 95%. Sam always checked on competition and always went around

    with his yellow pad to note down any new idea.


    He always used to promote items very innovatively.

    RAISING A FAMILY
    Sam and Helene had four kids: 3 boys and a girl. Helene always insisted on living in a small town so that they could raise their children with same values they have been exposed to. All four worked for Wal-Mart from young age and even invested in it over years.

    GOING PUBLIC
    Due to rapid expansion, sam accrued a huge debt. To get relieved he went public. Over the years even though many has written them off, Wal-Mart stock did very well.

    "Sam Walton understood people the way Thomas Edison understood innovation and Henry Ford, production. He brought out the very best in his employees, gave his very best to his customers, and taught something of value to everyone he touched." Jack Welch

    COMPANY ON THE SAME PATH

    SAM WALTON OF INDIA MR. KISHORE BIYANI

    GRAB UPS FOR INDIAN COMPANIES


    Work Around Your Weaknesses Build on Your Strengths Learn from Your Workers Learn from Your Mistakes

    Learn by Doing
    Get Formal Education Learn From Books and Publications Learn from Company Training Classes Learn from Your Competition

    Travel Far and Wide for


    Great Ideas Develop an Idea-Driven Culture Dont Worry Who Gets the Credit

    CRITIQUE
    Sam's story in Sam's words. Writing not always up to par. Sam Walton says, he didn't believe in giving "any

    undeserving stranger a free ride."


    "We feel very strongly," he wrote, "that Wal-Mart really is not, and should not be, in the charity business."

    The facts about the company; The business lessons

    CRITIQUE (CONT.)
    The history of the company, he writes, provides ample
    evidence that Wal-Mart, like any other corporation is nearly a machine, an amoral construct with one imperative: the profit

    motive. That pursuing that motive to the utmst may have a


    corrosive effect on communities or individualsincluding people within the corporationnever enters into the equation.

    WHY MUST YOU READ IT ???


    Strong story about a man and how he did business.
    This book contains a valuable example of how capitalism forces the evolution - for better or worse - of industries. Walton takes the reader from the days of the small-town five and dime all the way through the mega Wal Mart of

    today. It's a valuable read for anyone interested in


    business.

    WHY MUST YOU READ IT ??? (CONT)


    Reading "Made in America" provides the reader with some

    important context for considering all of the attacks on Wal


    Mart in the popular press. Highly recommended for those who would like to understand the motivations behind Wal Mart being what it is today and a great business story to boot.

    What Can Be The Sequel For The Next Book???


    According to me the Sequel can be WALMART TAKES OVER
    THE WORLD As WALMART is situated in countries like: CANADA UNITED STATES MEXICO ARGENTINA

    BRAZIL

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