UNIT 1

SAM WALTON

1918-1992

1.Sam Walton pioneered many concepts that would prove to be crucial to his success. What are the two concepts discussed that are still used today. Indicate how each concept would benefit Walton and the consumer.

1. Concept:

Benefit to Walton:

Benefit to consumer:

2. Concept:

Benefit to Walton:

Benefit to consumer:

2.Where are the corporate headquarters located for Wal-Mart?

3.Although Wal-Mart uses the slogan “Buy American,” Wal-Mart does not make

use of American manufacturers. What is their store philosophy regarding purchases.

4.What was Sam Walton’s goal?

5.Union’s have not gained a foothold in Wal-Mart as yet. What two things did Sam Walton threaten to do if the employees pursued union formation?

1.

2.

6.Sam Walton is a success story. List four things mentioned in the video.

1.

2.

3.

4.

SAM WALTON

10 COMMANDMENTS OF RETAIL

1. Commit to your goals
2. Share your rewards
3. Energize your colleagues
4. Communicate all you know
5. Value your associates
6. Celebrate your success
7. Listen to everyone
8. Deliver more than you promise
9. Work smarter than others
10. Blaze your own path

By following his advice maybe you too can become a retail giant!

Source:

  • Capital isn't scarce; vision is.
  • High expectations are the key to everything.
  • I had to pick myself up and get on with it, do it all over again, only even better this time.
  • I have always been driven to buck the system, to innovate, to take things beyond where they've been.
  • Outstanding leaders go out of their way to boost the self-esteem of their personnel. If people believe in themselves, it's amazing what they can accomplish.
  • There is only one boss, and that is the Customer, and he can fire everybody from the chairman on down, simply by spending his money somewhere else.
  • Variant: There is only one boss. The customer. And he can fire everybody in the company from the chairman on down, simply by spending his money somewhere else.
  • There's a lot more business out there in small town America than I ever dreamed of.
  • We let folks know we're interested in them and that they're vital to us— 'cause they are.
  • We're all working together; that's the secret. And we'll lower the cost of living for everyone, not just in America, but we'll give the world an opportunity to see what it's like to save and have a better lifestyle, a better life for all. We're proud of what we've accomplished; we've just begun.