Sam Walton, Made in America: My Story Test | Mid-Book Test - Easy

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This test consists of 15 multiple choice questions and 5 short answer questions.

Multiple Choice Questions

1. Initially why does Sam's superior questions whether he is good at retail?
(a) He is frequently late to work and staff meetings.
(b) He cannot sell products well.
(c) He does not seem interested in retail.
(d) Although he can sell, his organization skills are not great.

2. 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?
(a) 98.
(b) 90.
(c) 95.
(d) 85.

3. Sam would walk into some of the big discount retailers and ask to speak with their top executives, introducing himself as "Sam Walton from Bentonville." Why would he do this?
(a) To let the competition know who he is.
(b) To make friends.
(c) To get a job at one of these stores.
(d) To pick their brains about how their operations were run.

4. While debating the idea of going public, Sam flies around looking for _________.
(a) Someone to legally represent him.
(b) Another $1.5 million loan.
(c) New executives.
(d) Locations for new stores.

5. A number of employees have gained a great deal of financial wealth from ____________.
(a) Becoming executives.
(b) The profit-sharing program.
(c) Becoming managers.
(d) Working long hours.

6. Why does Helen want four children by the time she is thirty?
(a) So she will have plenty of people to care for her when she is old.
(b) So she will have plenty of time with her grandchildren.
(c) She does not want to be lonely.
(d) She needs something to do.

7. The biggest challenge Wal-Mart has right now at this growth period is what?
(a) Buying food procucts at a low price and staying stocked.
(b) Buying health and beauty aids at a lower price and staying stocked.
(c) Keeping the electronic section stocked.
(d) Attracting customers.

8. What do Sam and Bob have Sam's son Rob do for them?
(a) Look into the legal aspects of going public and issuing stock shares to the public.
(b) Find a way to avoid paying taxes, so they can start to get out of debt.
(c) Sue another company, so they can pay off their debts.
(d) Find a good lawyer to look into the legal aspects of going public and issuing stock shares to the public.

9. Now Wal-Mart has a profit-sharing policy for their employees that is currently ___________ at the time of publication.
(a) $1.8 billion.
(b) $1.8 million.
(c) $1.8 trillion.
(d) $18 billion.

10. Sam is always looking for new and different ways to do things and takes great pleasure in ___________.
(a) Following trends.
(b) Researching trends.
(c) Starting trends.
(d) Bucking trends.

11. It is due to _________ that the company has been able to outperform the competition?
(a) The Walton family members.
(b) The executives.
(c) The associates.
(d) The managers.

12. Back in the 1960s, with what was Sam more concerned, rather than quality?
(a) Good advertising.
(b) Keeping large quantities of products in the store.
(c) Keeping the customers returning.
(d) Keeping the prices lower than other company's prices for future success.

13. Sam believes that he was over-blessed with the traits of ____________.
(a) Understanding and empathy.
(b) Love and kindness.
(c) Pride and jealousy.
(d) Ambition and drive.

14. He learns from a very early age that children should do what?
(a) Be responsible for contributing to their family just as much as the adults and should not be considered 'takers."
(b) Be pampered.
(c) Be ignored.
(d) Be seen and not heard.

15. Don Whitaker comes to the Wal-Mart organization from TG&Y. He is a hard-working and smart man who establishes a great philosophy for the company. What is this philosophy?
(a) Let's be out front. Let's do it right. Let's get it done now and get on with it.
(b) Let's be quick and quiet.
(c) Let's do it now and do it right.
(d) Let's be number one. Let's be honest and hard-working.

Short Answer Questions

1. When does Wal-Mart become a publicly-traded company?

2. How does placing stores in these small areas affect advertising?

3. To encourage family togetherness, what does Sam do?

4. Why is Ferold Arend hired?

5. Ever since Sam took out his first bank loan, he has not been comfortable or happy with ___________.

(see the answer keys)

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