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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. 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 Ben Franklin.
(d) Purchasing this Woolworth.

2. No matter how hard Sam's father worked or how many different jobs he had, what happened?
(a) His family was never satisfied.
(b) His family was never comfortable.
(c) He never felt like he could work hard enough.
(d) He was never happy.

3. In 1939, he meets Hugh Mattingly who owns _____________.
(a) The first Wal-Mart.
(b) A Ben Franklin store in town.
(c) A discount store chain with 40 stores.
(d) A variety store chain with 60 stores.

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

5. Sam and Helen are disappointed to leave Newport, but they do have one benefit from their five years working there. What is this benefit?
(a) $50,000 from the sale of the business.
(b) Many good business connections.
(c) They have made many good friends.
(d) An interest in retail.

Short Answer Questions

1. What is Ferold Arend's position prior to coming to Wal-Mart?

2. The reason that other stores fail is because ____________.

3. The way the management treats its associates is exactly how they will treat who?

4. Before Wal-Mart, what did the Waltons like to do?

5. Sam was born in ___________.

Short Essay Questions

1. How does this book begin? What information does it give about Sam Walton and the purpose of this book?

2. What is taking place in the world of discount stores in 1962?

3. How does the placing of Wal-Marts in specific types of locations benefit the company in regard to advertising?

4. What does Sam do when he attends the Univeristy of Missouri?

5. How is Sam a maverick in the business world?

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

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

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

9. How does Sam have the personality of a promoter?

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

(see the answer keys)

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