Walmart

Wal-Mart

In 1962, the future of retailing was born in Rogers, Arkansas. It was founded by Sam Walton (1918-1992; picture page --), whose passion for customer satisfaction and "Every Day Low Prices," which is now "Always low prices, Always," is what earned him the Medal of Freedom from President George Bush in March of 1992. What started out as a single "Bentonville Variety Store" unit has evolved into four global retail divisions known as Wal-Mart Super centers, Discount Stores, Neighborhood Markets, and Sam's Club. The company now employs 1.6 million associates worldwide in more than 3,800 facilities in the United Sates, more than 2,600 units in Argentina, Brazil, Canada, China, Costa Rica, El Salvador, Germany, Guatemala, Honduras, Japan, Mexico, Nicaragua, Puerto Rico, South Korea, and the United Kingdom. Each of these stores takes its place in an ever changing environment with the retailing world constantly evolving on a daily basis. Many retailers enter and exit the market every single day changing the way people shop. The world where retailers once possessed the buying power has shifted to its buyers. More than 138 million customers per week visit Wal-Mart loyally and globally. Customers are constantly looking for quality products at the lowest prices, which is the foundation of Wal-Mart's initiatives. In his Medal of Freedom acceptance speech, Sam Walton responded by saying that "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" (Walton). Wal-Mart continues to praise its employees and customers for its success. Its practice of internal promotion states that 76% of store management started