Wal Mart The Biggest Retailer Of The World - 955 Words

With the help of P.T. Barnum, and Billy Graham, Sam Walton accomplished to get Wal-Mart to be the biggest retailer in the world, transforming the way America shopped and making himself one of the world s richest men in the process. Walton started his lifelong career in the retail business in the year of 1940, when he took a job as a sales trainee at a J.C. Penney store in Des Moines, Iowa. He was never one of Penney s most thorough employees, however, Walton never failed to be enthusiastic about his job. His books were a mess and He hated to make customers wait while he fussed with paperwork. His boss at the time even said he was not cut out for retail work,but walton’s ability as a salesman brought him about $25 per month in commissions to his beginner s salary. After World War II when he was released from the military in 1945, Walton had a wife and child to support, so he decided to strike out on his own and pursue the American dream. He put up $5,000 of his own money and borrowed $20,000 from his father-in-law. At the age of 27, Walton purchased a Ben Franklin nickel and dime variety store in Newport, Arkansas. Walton soon will triple his business by pricing his products way below his competition, and by 1950, he owned the leading Ben Franklin store in a six-state region. The store s landlord, decided he wanted to acquire the business for his son. Sam had no intention of selling, so the landlord simply refused to renew his lease causing Walton to lose the store.Show MoreRelatedWal Mart s Largest Retailer And The World s Biggest Retailer945 Words   |  4 PagesWal-Mart began as a small discount retailer in Rogers, Ark., Wal-Mart has thousands of stores in the U.S. and has expanded internationally. Through innovation, they are letting customers shop anytime and anywhere online, with mobile devices and in their stores. Wal-Mart went to public in 1970, and it became the first company to reach 1 billion within 9 years. Up to 2004 Wal-Mart has 4,906 store world-wild, and 9 billion in profit. Despite some of controversial issues about its operation approachesRead MoreWal Mart : The Biggest Retai ler Of The World With A Revenue Greater Than $ 485 Billion1901 Words   |  8 Pages STRENGTHS : ââ€"  Wal-Mart is the largest retailer in the world with a revenue greater than $ 485 billion and a network of over 11000 stores spread out across 27 countries. As of January 2015, Wal-Mart served around 260 million customers weekly through its over 11,000 stores under 72 banners in 27 countries and e-commerce websites in 11 countries. ââ€"  The size gives it power over its suppliers as well as a strong market position. Due to its vast operations , Wal-Mart enjoys economies of scale and thusRead MoreReal World Cross Border Mergers And Acquisitions983 Words   |  4 Pages2000). Wal-Mart is one of the examples of real world cross-border mergers and acquisitions; this can enlarge the market reach. 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In addition, one of the common strategies of Wal-Mart is to partnerRead MoreReport on Case Study: Walmart Japan1210 Words   |  5 PagesCASE STUDY: Wal-Mart in Japan Question 1: How would you characterize Wal-Mart’s approach to global management? The trademark of Wal-Mart’s global management approach focuses on 3 main strategies: low price, best value, large selection of goods high quality service. Being the world’s largest retailer, Wal-Mart will enter the international market by providing a wide variety of products at a lower price than its domestic competitors. In addition, one of the common strategies of Wal-Mart is to partnerRead MoreWalmart Batting941 Words   |  4 PagesBattling Wal-Mart by Neal Peirce The Wal-Mart Watch campaign, a labor-environmental group highly critical of Americas mega-mega retailer, recently launched more than 1,000 events nationwide for its Higher Expectations Week. 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Wal-Mart Stores, Inc. has â€Å"four major retailRead MoreWal-Mart Organization: Industry Overview1554 Words   |  7 PagesIn todays society, Wal-Mart is known as one of the leading competitors of retailing. Wal-Mart was incorporated in 1962, with the goal of becoming the worlds biggest and best in the retail world. Over the years, this company has developed into a brand image and market pace to be one of the biggest known industries of all time. Wal-Mart is double the size of its closest competitor with the motto Save Money. Live Better. The owner, Sam Walton, said it best If we work together, well lower the costRead MoreWal Marts Cost Of Convenience1212 Words   |  5 PagesWhen one considers Wal-Mart, their initial thoughts are usually not very distasteful, and convenience is quick to come to mind. Convenience should be considered a four-letter word for most corporations since the cost of convenience is so much that it does not take a world-class poker player to know the odds of coming out ahead are zilch. In order to make convenience a profitable business, Wal-Mart has to hide the shortcuts behind the faà §ade of convenience. Once we get passed the faced that allowsRead More Wal-Mart: The High Cost of a Low Price Essay517 Words   |  3 PagesWal-Mart: The High Cost of a Low Price Wal-Mart represents the sickness of capitalism at its almost fully evolved state. As Jim Hightower said, Why single out Wal-Mart? Because its a hog. Despite the homespun image it cultivates in its ads, it operates with an arrogance and avarice that would make Enron blush and John D. Rockefeller envious. Its the worlds biggest retail corporation and Americas largest private employer; Sam Robson Walton, a member of the ruling family, is one of the richest