Sam Walton : Made in America My Story

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Sam Walton is the founder of the worlds biggest company Walmart with now over 2 million employees. He basically grown up selling stuff and he knew very early in life that he wanted to work in the retail business. He involved almost the whole family in his career and earlier businesses which he already had founded before he created his great idea called Walmart. Walmart's test store for new technology, Sam's Club Now, opens next week in Dallas". TechCrunch. October 29, 2018 . Retrieved November 6, 2020. When they joined the company, Ron Mayer and Royce Chambers brought with them sophisticated communication and distribution systems that made Walmart's national projection possible, as they allowed a concentration of goods, which were now stored in the distribution center and redirected to stores. Family Here’s how I look at it: my life has been a trade off. If I wanted to reach the goals I set for myself, I had to get at it and stay at it every day. I had to think about it all the time. And I guess what David Glass said about me is true: I had to get up every day with my mind set on improving something. Charlie Baum was right too when he said I was driven by a desire to always be on the top of the heap. But in the larger sense - the life and death sense - did I make the right choices?” p.320

Hands on approach to his business, down to each store, business unit - even if you are the toppest manager; The beginning of his journey is marked by a practice that has become a fundamental part of Walmart's philosophy: the search for goods directly with manufacturers. At the end of the day, after closing the store, he would tour the surrounding states, filling his car with everything he could get at a good price.In the corporate culture of Walmart, the result of its beginning in small cities, some basic principles stand out: Frugality Executive compensation. Walmart executives are rewarded more based on how the company performs. If Walmart doesn’t grow, they make a lot less income. Great ideas come from everywhere if you just listen and look for them. You never know who’s going to have a great idea.” 324

David Glass turned out to be awesome in the post and a major help in rescuing Walmart and pushing it to even higher heights. Patty de Llosa and Jessica Skelly von Brachel (March 23, 1992). "The National BUSINESS HALL OF FAME". Fortune. Peter Nulty Reporter Associates. Archived from the original on March 5, 2016 . Retrieved May 25, 2016. Walton, Sam (2012). Sam Walton: Made in America. Random House Publishing Group. p.18. ISBN 978-0-345-53844-4.As James Altucher would say: “Be like Google. Be the source.”Google just recommends things. Even their own competitors, if that’s what they think you’re really looking for. Don’t be afraid to send people another way, as long as you believe it’s what’s best for the customer. Lesson 3:Share your success with your employees, not just psychologically, but also financially.

The success of a gift shop depends on customer satisfaction, through good service, attractive prices, and, above all, an adequate inventory of your needs. Each region served by Walmart has specific and distinct needs, so stores must be planned separately.Obviously, Sam Walton could not build Walmart alone. He did it with the cooperation of dozens of important executives, thousands of managers and millions of employees. The question is: How could he encourage them care about Walmart’s success as much as he did? Here are a few ways:

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, [3] [4] where he foreclosed on farms during the Great Depression. [5] Walton supported various charitable causes. He and Helen were active in 1st Presbyterian Church in Bentonville; [27] Sam served as an Elder and a Sunday School teacher, teaching high school age students. [28] The family made substantial contributions to the congregation. Walton worked the concept of “service leadership” into the corporate structure of Walmart based on the concept of Christ being a servant leader and emphasized the importance of serving others based in Christianity. [29]Always watch out for who you give power to -and how you can take that power away in the most efficient way possible-. CONS