Wal Mart Company Overview

Sam Walton, Founder

Sam Walton, the founder of Wal-Mart was born in Kingfish, Oklahoma on March 29, 1918. After graduating from the University of Missouri in 1940, he started his career by opening the first of several Ben Franklin franchises in Arkansas.

In 1962 Sam Walton open his first Wal-Mart in Rogers, Arkansas. His low price approach to retail soon became a model that all Wal-Mart stores would follow. "Sell name brand merchandise at low prices."

By the 1980's Wal-Mart had over 300 stores and had accumulated over 1 billion dollars in sales. Sam Walton had the idea of a unique decentralized distribution system that would help spur on further growth. By 1991, Wal-Mart was the largest U.S. retailer with 1,700 stores nationwide.

Mr. Walton remained active in the company as CEO until 1988 and chairman until his death in 1992. Shortly before his death, he was awarded the Medal of Freedom from the President of the United States of America. When Sam Walton died, he was the world's second riches man behind Bill Gates of Microsoft. The Wal-Mart Corporation was handed down to Mr. Walton's three sons, his daughter, and his wife.

Sam Walton's 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

These commands my help you to become a retail giant like Sam Walton!!

Wal-Mart the next generation

After the death of Sam Walton, his son took over as Chairman of the Board. This was a time of great expansion of Wal-Mart. It seemed that most communities had access to a Wal-Mart. As of December 1999, Wal-Mart had expanded to operate 2,485 stores and 456 SAM'S Clubs in the United States.

In addition to this, the company operates 13