Early Years Samuel Moore Walton was born on March 29‚ 1918 to Thomas Gibson and Nancy Lee Walton near Kingfisher‚ Oklahoma. In Oklahoma‚ he lived and worked on his family’s farm. He grew up during the depression and knew the meaning of hard work and dedication. He started selling magazine subscriptions by the age of only eight years old to help with money because it was lacking on the farm making it hard to feed their family. The Walton’s decided that the farm was not profitable enough to raise
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Sam Walton was born to Thomas Gibson Walton and Nancy Lee‚ in Kingfisher‚ Oklahoma. There‚ he lived with his parents on their farm until 1923. Sam’s father decided farming did not generate enough income on which to raise a family and decided to go back to a previous profession of farm mortgaging‚ working for his brother’s Walton Mortgage Company‚ which served as an agent for Metropolitan Life Insurance[3][4] where he repossessed farms during the Great Depression.[5] He and his family (now with
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United States. The first store ever opened was in tiny Rogers‚ Arkansas back in 1962 by an entrepreneur named Sam Walton. At that time‚ other retail stores such as Kmart and Target were just beginning too. Even though each three stores offered similar products and services‚ Walton ’s store focused on serving the customers and giving them what they wanted‚ which was cheaper prices. In Walton ’s autobiography‚ he describes what gave his Wal-Mart stores the edge over its competition. "The secret of
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................................................................................ 3 History ....................................................................................................................................................... 3 Sam Walton ............................................................................................................................................... 4 Founder of Wal-Mart ..............................................................................
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America is based on the principles and ideals of freedom. The citizens are free to speak out‚ congregate peacefully‚ to choose their religion‚ among many others. In the economic realm‚ both citizens and businesses alike have access to a free market. A free market economy‚ or Capitalism‚ is an economic system which is controlled strictly by fluctuations in supply and demand. This lack of authoritative regulation can be seen in several different lights. Those proponents of Capitalism claim that it
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Stores. It was in 1945 that a young man by the name of Sam Walton decided to open his own department store. Therefore‚ he purchased a store in Newport with the help of his father-in-law. Sam borrowed $20‚000 from his father-in-law to go along with the $5‚000 he had initially saved. Founded in 1962‚ Wal-Mart followed an amazing pattern of success and growth eclipsing all the other department store retailers by the early 1990’s. Sam quickly learned that buying straight from the wholesaler would
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Stores Background In 1962‚ Sam Walton opened the first Wal-Mart store in Rogers‚ Arkansas. Walton introduced a “good concept” that involved large stores selling to consumers a wide selection of products at discount prices. This concept was also part of Wal-Mart’s “everyday low prices” strategy. Wal-Mart was able to generate profits while maintaining low prices by using sales volume and unique marketing strategy (MarketLine‚ 2009). To stimulate business expansion‚ Walton implemented a warehouse distribution
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| Public | Traded as | NYSE: WMT Dow Jones Industrial Average Component S&P 500 Component | Industry | Retailing | Founded | 1962 | Founder(s) | Sam Walton | Headquarters | Bentonville‚ Arkansas‚ U.S. 36°21′51″N 094°12′59″W | Number of locations | 8‚970 (2011) | Area served | Worldwide | Key people | S. Robson Walton‚ Chairman Mike Duke‚ President/CEO | Products | Apparel/footwear specialty‚ cash & carry/warehouse club‚ discount department store‚ discount store‚hypermarket/supercenter/superstore
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Wal-Mart: Retailing Good Guy or Bully? Sam Walton had an amazing vision. He saw that big businesses were buying merchandise and reselling it for huge profits. They would then take those huge profits and live big. The customers with average incomes were unable to afford very much. Sam realized that he could buy merchandise in large quantities at a much lower price per item‚ and then resell that merchandise with only a slight mark-up. He decided that customers would rather pay as little
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Successful of • • Founder of Sam Walton is the founder of retail giant Walmart. He was born in 1918 in Kingfisher‚ Oklahoma. • When his military service ended in 1945‚ Sam moved to Iowa and then to Newport‚ Arkansas. During this Ime‚ Sam gained early retail experience‚ eventually operaIng
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