|Name: _________________________||Period: ___________________|
This test consists of 15 multiple choice questions and 5 short answer questions.
Multiple Choice Questions
1. At the time, nobody wants to invest in the idea with Bud putting only 3 percent into it and another manager from Texas putting in 2 percent. Other than that, Sam had to come up with what percent of the financing on his own?
2. What does Sam admit was the biggest mistake of his business career?
(a) Purchasing this Kmart.
(b) Purchasing this Ben Franklin.
(c) Purchasing this Woolworth.
(d) Purchasing of a shopping center.
3. With what does Sam not want to deal that plague stores in bigger cities?
(b) Wealthy clientele.
(c) A lack of space for building.
(d) Real estate issues, legal quandaries, and zoning problems.
4. How does Sam feel never being on a losing team helped him?
(a) It makes him never want to be a loser.
(b) It helps him trust others to be losers.
(c) It helps him believe that he can always win.
(d) It helps him not trust losers.
5. What does Sam do everywhere he travels?
(a) He has to visit friends.
(b) He has to check out the competition.
(c) He has to fight the competition.
(d) He has to promote his business.
6. Sam credits the success of the business with what relationship?
(a) The one that the managers have with their associates.
(b) The one he has with his employees.
(c) The one he has with his wife.
(d) The one Sam has with his father-in-law.
7. Is Sam's deal with Alice unusual?
(c) Only at first.
8. It is 1962 and many of the successful discounters are doing what, of which Sam seems to disapprove?
(a) Driving fancy cars and living in large homes.
(b) Buying out stores.
(c) Building new stores.
(d) Selling low-quality products.
9. Why does Sam tell Abe Marks that he does not need their systems?
(a) He is a retail genius.
(b) Computers are a waste of time.
(c) He does not have enough money.
(d) His systems are faulty.
10. He learns from a very early age that children should do what?
(a) Be seen and not heard.
(b) Be responsible for contributing to their family just as much as the adults and should not be considered 'takers."
(c) Be pampered.
(d) Be ignored.
11. Phil gets a great deal on a laundry detergent like Tide, and has 18 cases sent to his store and creates the world's largest display of detergents, stacking them almost __________ feet high?
12. Sam attends the University of Missouri since he is already well-known in Columbia and joins what fraternity?
(a) Beta Theta Pi.
(b) Phi Tau.
(c) Sigma Phi Epsilon.
(d) Beta Tau Beta.
13. What did Sam have to do when the family was on vacation?
(a) He had to deal with harrassing competition.
(b) He had to check out stores along the way.
(c) He had to promote his company.
(d) He had to forget about work.
14. What is Ferold Arend's position prior to coming to Wal-Mart?
(a) He is the owner of a Midwest variety chain store.
(b) He is president of a Midwest variety chain store.
(c) He is head of merchandise for the whole Midwest for a variety chain store.
(d) He is a cashier at a Midwest variety chain store.
15. A number of employees have gained a great deal of financial wealth from ____________.
(a) Becoming managers.
(b) Working long hours.
(c) The profit-sharing program.
(d) Becoming executives.
Short Answer Questions
1. What is the first thing Sam does?
2. In 1939, he meets Hugh Mattingly who owns _____________.
3. No matter how efficient or advanced their distribution center is or how great their technology might be, _______________are the real key to Wal-Mart's success.
4. Sam is not interested in retail because __________________.
5. Before Wal-Mart, what did the Waltons like to do?
This section contains 660 words
(approx. 3 pages at 300 words per page)