Walmart History: Beginning to Today
Wal-Mart is a general merchandise discount retailer, which was incorporated in 1962. Wal-Mart’s history is based on one man, Sam Walton, who changed the course of retailing forever. Sam Walton first entered retailing when he was a management trainee at J.C. Penny Co. in 1940 in Des Moines, Iowa. After serving in the Army in World War II, Walton acquired a Ben Franklin variety store franchise with his brother James Walton in Newport Arkansas, until they lost the lease to the store in 1950. By 1962, when the first Wal-Mart Discount City was opened in Rogers Arkansas, both Walton’s were operating fifteen stores under the “Walton 5 & 10” name, and were the largest Ben Franklin franchisee in the
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At the end of the fiscal year 2000, total company sales reached $191 billion dollars. This was an increase over the previous year of 15.9%. Total international sales amounted to $32 billion dollars at the end of the 2000 fiscal year, which was an increase of 41% over the previous year. Wal-Mart is widely recognized as one of the leading discount variety store chains. It is the nations largest discount department store chain, and also one of the largest discounters in the nation in terms of sales dollars.
Internal Strengths and Weaknesses
Strengths
 Nation’s largest discount department store chain.
 A company with a very defined mission set by Sam Walton.
 Good distribution concepts with no one store more than 6 hrs. away from warehouse.
 Constant expansion over lifetime of company.
 Offers a variety of merchandise for its consumers.
 Valued their employees and consumers happiness.
 “Everyday Low prices” advertising campaign.
 First retailer to embrace “green” marketing.
 Inventory Control system is the best in retail industry.
 Support of different community activities.
 Company’s Name.
Weaknesses
 Illustrates low prices and at the same time, not portray a cheap image to consumer.
 Viewed by some consumers as Mom and Pop shop
(3) In an effort to replace foreign- sourced goods sold at Wal-Mart stores with American-made ones, Wal-Mart developed its “Buy American” program. By 1989, the company estimated it had converted or retained over $1.7 billion in retail purchases that would have been placed or produced offshore, and created or retained over 41,000 jobs for the American work force.
Wal-Mart, the multi-billion company and the second largest employer in the world, is the most controversial corporation in the world. Wal-Mart is a global powerhouse and affects many people around the world. Wal-Mart is constantly getting attacked from unions, human rights groups, small towns and small businesses. Wal-Mart is accused of treating their workers poorly and driving small businesses out of business. But however these accusations are false or over exaggerated. Wal-Mart offers families and low income people quality products. Also, they pay their workers competitive wages and treat them with respect. Wal-Mart opens their stores in rural and under developed areas. Wal-Mart improves the lives of the people who live rural area and
Environmental Studies is the academic field, which systematically studies human interaction with the environment in which we live in. It is a broad field of study that includes the natural environment, built environment, and the sets of relationships between them. Environmental studies takes into account many different factors that help provide an enjoyable, fruitful way of life, such as national policies, politics, laws, economics, sociology and other social aspects, planning, pollution control, natural resources, and the interactions of human beings and nature.
1) Should Wal-Mart be expected to protect small businesses in the communities within which it operates?
Wal-Mart Corporation is one of the largest retail stores in the world. They serve customers in meeting their needs with low cost saving items. On October 31, 1962, Wal-Mart was founded and incorporated by Sam Walton in Bentonville, Arkansas. Mr. Walton went into business because he felt that items sold were too high for the average customer to afford. His focus was to sell products at low prices to get higher volume sales at a lower profit margin. He bought bulk products from different suppliers so he could incorporate savings into his pricing to lower cost for customers. Under the savings cost concept, Wal-Mart grew rapidly and surpassed its competitors in sales and generating profits.
“Up Against Wal-Mart” by Karen Olsson, a senior editor at Texas Monthly and who’s article appeared in Mother Jones, introduces her article through the perspective of a Wal-Mart worker. She focuses on the negatives of Wal-Mart by telling the real life struggles of different Wal-Mart employees. “Progressive Wal-Mart. Really.” by Sebastian Mallaby, a columnist for the Washington Post, focuses his article on what Wal-Mart critics say and attempts to defend Wal-Mart by comparing Wal-Mart to other retailers. Even though Karen Olsson and Sebastian Mallaby both examine the negative effects of Wal-Mart, Olsson berates Wal-Mart’s unfair treatment towards employees and the unlivable wages that the world’s largest retailer provides while Mallaby
Whether it's a brand new 59” LCD widescreen television or merely a pack of gum, each purchase you make from a Walmart store inadvertently results in a higher price paid; both within your community as well as the greater world around you. Relying entirely upon you-the ever consuming scavenger – to fuel the bustling utopia of the manufacturing industry, exists Walmart. More importantly, Walmart relies upon the oblivion towards matters outside of our own lives that we as society generally project. However, by looking past our own greed in a world full of price cuts and sales, we can expose Walmart for what it truly is; an entirely corrupt corporation feeding off of countries' vulnerabilities and reaping the benefits.
Walmart is one of the largest corporation in the world. It is widely known for its products that are sold at low prices. There are about 6,300 Walmart stores which millions of people have been given the opportunity to work in. Consumers are Walmart’s number one priority and they will never fail to assist the customers in any way they can. There are many consumers in today’s market who will only go to Walmart to buy groceries and other necessities they might need for their daily lives. Although Walmart provide for their consumers’, research has found that they need to improve in providing for their employees which will allow them to be a better company for their community. This paper will first address the history of Walmart stores in regards to the impact of the stores on society and the economy, and then from this provide ways in which the Walmart company can better itself for the betterment of the society.
Yes, I do believe Wal-Mart is doing enough to become more sustainable. Wal-Mart is one of the most powerful companies internationally. As with all things that come with power, Wal-Mart’s business practices are scrutinized thoroughly. This includes their relationships with suppliers, employees, consumers, and the environment. In recent years, the environment has become such a big issue that Wal-Mart, as well as other companies have had to respond to this growing concern.
Wal-Mart is sitting at number one on the Global Fortune 500 list. Sam Walton would never have thought that his creation of Wal-Mart in 1962 would lead to a global dynasty. By 1972 Wal-Mart went public which gave an infusion of money and capital for Mr. Walton that gave them 276 stores by 1980. In the mid 80's Wal-Mart expanded to having member only warehouse stores, Sam's Club. From there Wal-Mart opened supercenters that included full grocery and 36 departments of regular merchandise. By the end of the 1980's there were 1,402 stores and 123 Sam's Clubs (Wal-Mart corporate 2012).
When opening the first Wal-Mart store, Sam Walton traveled the country to learn more about discount retailing and gained a new perspective on what he though Americans desired in a store (WalMart). Contrary to popular opinion, Sam Walton believed that discount stores could be successful in rural America so Wal-Mart’s early beginnings were rooted in the establishment of a small discount store in Rogers, AR opened by Sam Walton in 1962 (Wal-Mart). From there ,Wal-Mart continued to grow and was incorporated as Wal-Mart Stores, Inc. in 1969. Once the company was listed on the New York Stock Exchange, the growth skyrocked, growing from a chain of small discount stores to large supercenters
The history of Wal-Mart stores can be dated as far back as 1962. On July 2, 1962, Sam Walton opened the primary Wal-Mart store in Rogers, Arkansas. The Walton family possessed 24 stores, ringing up $12.7 million in deals. The organization authoritatively fused as Wal-Mart Stores, Inc. Wal-Mart Stores, Inc. Operates a number of retail stores globally. It does operate retail shops, supermarkets and hypermarkets among others. It offers most products which can be considered to be in the line of groceries and consumables. The company also offers electronic components such as cameras and other devises. It additionally offers women’s products such as perfumes, Jewelers, and cosmetic products.
Wal-Mart, the large international discount chain was founded by Sam Walton. On May 5, 1950, Walton purchased a store in Bentonville, Arkansas, and opened Walton’s 5 & 10. Little did the small town residents know that they would later become the headquarters for the world’s largest retailer store in the U.S. Through his savvy, and sometimes unusual, business practices, he and his associates led the company forward for thirty years.
Wal-Mart’s toughest competitor today is Amazon. Amazon is the world’s leading e-commerce retailing company. Amazon started as an online book merchant but quickly expanded into a host of other product categories. The company model sells, publish, market and advertise their products where the consumer can buy from the comfort of their own home. Most of which can be delivered within 48 hours. The company sells millions of products each and every day to its consumers. Unlike, Wal-Mart who sells just new products, Amazon sells brand new products along with used products from three parties. The model sells standard products by publishing and advertising goods on the internet. Amazon also sells and markets their own innovative technology such as the
1. How well do you think Wal-Mart’s earlier, more limited health benefits supported the company’s overall business strategy?