Wal-Mart
With nearly 2,500 stores spread across the land, Wal-Mart has become an instantly recognizable and ubiquitous component of American popular culture. There are few places in this country anymore that are beyond a short drive to a Wal-Mart. With upwards of 50,000 different items on the shelves and racks of a typical store, Wal-Mart has literally changed the way Americans shop.
The phenomenal success of Wal-Mart has been the direct result of the vision and energy of its late founder, Sam Walton. His motivation and charisma alone shaped a company which helped to establish discount merchandising as the major form of retail operation in this country. His highly personal management style and folksy, down-home demeanor were instrumental in assembling a fiercely loyal work force and maintaining high employee morale.
Samuel Moore Walton (1918-1992) was born near Kingfisher, Oklahoma, into a farm family. He grew up in Missouri and graduated in 1940 from the University of Missouri with a degree in economics. After a short stint making 85 dollars a month as a manager trainee for the J.C. Penney Company, Walton served in the Army during World War II and attained the rank of captain. He launched his illustrious career in retailing with the purchase of a Ben Franklin variety store franchise in Newport, Arkansas, where he began his practice of high-volume, discount merchandising.
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