|Name: _________________________||Period: ___________________|
This test consists of 15 multiple choice questions and 5 short answer questions.
Multiple Choice Questions
1. What did going public do to Sam's family?
(a) It created an unhealthy living environment.
(b) It caused the world to invade their private lives.
(c) It made the children into stars.
(d) It caused the family to fall apart.
2. When Sam did not like the attention given to him and his family by the press, he put a lid on the personal information released to the public. What happened because of this reason according to Sam?
(a) A great deal of misinformation was released and taken as truth about him and his family.
(b) His company suffered.
(c) America forgot about him.
(d) No one cares to know about the history of Wal-Mart.
3. Now that Sam is out of debt, he feels he can really concentrate on _________.
(a) Spending time with his family.
(b) Considering retirement.
(c) Executing his strategy for running large discount stores.
(d) Changing the face of Wal-Mart.
4. Sam starts to hear about discounting companies. He knows that discounting is the way of the future but is fully immersed in what?
(a) Variety stores.
(b) Discount stores.
5. What kind of farm does Sam's family have?
(a) A turkey farm.
(b) A dairy farm.
(c) A chicken farm.
(d) An apple farm.
6. How do the children have just as high a stake in the family business as their parents?
(a) He gives each child money to spend or save.
(b) He threatens each child.
(c) If he cannot earn enough money, neither do they.
(d) He makes every member of the family a partner in the family business.
7. How does placing stores in these small areas affect advertising?
(a) It makes advertising more necessary.
(b) It make advertising more sophisticated.
(c) It makes advertising cheaper.
(d) It makes advertising more expensive.
8. This book is Sam's attempt to __________________.
(a) Clear the misconceptions about him, his business, and most importantly, his views on how to build a successful company.
(b) Build up Wal-Mart's popularity.
(c) Earn extra money for his family.
(d) Make himself famous.
9. Why is Ferold Arend hired?
(a) To improve the technology at Wal-Mart.
(b) To take over Sam's position.
(c) To push Wal-Mart into the best distribution center possible.
(d) To be CEO of Wal-Mart.
10. What is the first thing Sam does?
(a) He makes friends with those who run the town.
(b) He moves into the town.
(c) He establishes a warehouse.
(d) He sends his sons to investigate the town.
11. His stores have been growing at a good rate, and he feels their success is partly due to placing stores __________.
(a) In the midwest.
(b) In large cities.
(c) In poor neighborhoods.
(d) In smaller towns.
12. Sam has the personality of _______________.
(a) Santa Claus.
(b) A promoter.
(c) A task master.
(d) A clown.
13. Now Wal-Mart has a profit-sharing policy for their employees that is currently ___________ at the time of publication.
(a) $1.8 trillion.
(b) $1.8 billion.
(c) $18 billion.
(d) $1.8 million.
14. What does Sam admit was the biggest mistake of his business career?
(a) Purchasing of a shopping center.
(b) Purchasing this Kmart.
(c) Purchasing this Woolworth.
(d) Purchasing this Ben Franklin.
15. Why does Sam tell Abe Marks that he does not need their systems?
(a) His systems are faulty.
(b) He does not have enough money.
(c) He is a retail genius.
(d) Computers are a waste of time.
Short Answer Questions
1. He thinks many of these failed stores would still be open if they had remembered to ___________.
2. 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.
3. While debating the idea of going public, Sam flies around looking for _________.
4. Although there have been a number of changes in the Wal-Mart industry over the years, the Walton family still collectively owns __________ of their own business, which is rare for a major corporation.
5. It is due to _________ that the company has been able to outperform the competition?
This section contains 651 words
(approx. 3 pages at 300 words per page)