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Essay on Wal-Mart
The purpose of the paper is to explain to the reader how Wal-mart got to where it is today and what kind of business strategies were used to make it successful. Background Sam Walton, a leader with an innovative vision, started his own company and made it into the leader in discount retailing that it is today. Through his savvy, and sometimes unusual, business practices, he and his associates led the company forward for thirty years. Today, four years after his death, the company is still growing steadily.
Wal-Mart executives continue to rely on many of the traditional goals and philosophies that Sam s legacy left behind, while simultaneously keeping one step ahead of the ever-changing technology and methods of today s fast-paced business environment. The organization has faced, and is still facing, a significant amount of controversy over several different issues; however, none of these have done much more than scrape the exterior of this gigantic operation. The future also looks bright for Wal-Mart, especially if it is able to strike a comfortable balance between increasing its profits and recognizing its social and ethical responsibilities. In 1962, when Sam Walton opened the first Wal-Mart store in Rogers, Arkansas, no one could have ever predicted the enormous success this small-town merchant would have. Sam Walton s talent for discount retailing not only made Wal-Mart the world s largest retailer, but also the world s number one retailer in sales.
Indeed, Wal-Mart was named "Retailer of the Decade" by Discount Store News in 1989, and on several occasions has been included in Fortune s list of the "10 most admired corporations." Even with Walton s death (after a two-year battle with bone cancer) in 1992, Wal-Mart s sales continue to grow significantly.
The Wal-Mart Philosophy Wal-Mart is successful not only because it makes sound strategic management decisions....
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