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This test consists of 5 multiple choice questions, 5 short answer questions, and 10 short essay questions.

Multiple Choice Questions

1. It is 1962 and many of the successful discounters are doing what, of which Sam seems to disapprove?
(a) Selling low-quality products.
(b) Driving fancy cars and living in large homes.
(c) Building new stores.
(d) Buying out stores.

2. Sam enlists the help of Charlie Baum, whom he met ______________.
(a) While working with the Ben Franklin store.
(b) In high school.
(c) While in college.
(d) While working at JC Penney.

3. Right away, Sam looks for other store opportunities and drives to Fayetteville to find a store whose only competitor is _________.
(a) JC Penney.
(b) Ben Franklin.
(c) Woolworth.
(d) Meijer.

4. 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 do it now and do it right.
(b) Let's be out front. Let's do it right. Let's get it done now and get on with it.
(c) Let's be quick and quiet.
(d) Let's be number one. Let's be honest and hard-working.

5. Why is Ferold Arend hired?
(a) To be CEO of Wal-Mart.
(b) To push Wal-Mart into the best distribution center possible.
(c) To take over Sam's position.
(d) To improve the technology at Wal-Mart.

Short Answer Questions

1. Sam believes that he was over-blessed with the traits of ____________.

2. Sam wants to learn more about IBM computers to _________.

3. What have Sam and his employees mastered?

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

5. Initially why does Sam's superior questions whether he is good at retail?

Short Essay Questions

1. Describe Don Whitaker.

2. How would Sam spy on Kmart?

3. How does Sam feel about debts and loans?

4. Who plants the idea in Sam's mind of going public? How does he do this?

5. What can Sam do now that he is out of debt?

6. What is known about Sam Walton's childhood? What did he learn during this time about one's ability to make money?

7. How do Sam and Helen feel about leaving Newport? What are their plans now?

8. What does Sam say is the biggest business mistake in his life? What might have led to this?

9. What does Sam do while debating the idea of going public?

10. How does Sam decide where to build a Wal-Mart? Why?

(see the answer keys)

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