{"id":93,"date":"2013-01-19T19:23:27","date_gmt":"2013-01-19T19:23:27","guid":{"rendered":"http:\/\/nigeriastandardnewspaper.com\/ng\/?p=93"},"modified":"2013-01-19T19:23:27","modified_gmt":"2013-01-19T19:23:27","slug":"sam-walton-face-behind-wal-mart-groceries-worldwide-inside-americas-wal-mart-billionaire-empire","status":"publish","type":"post","link":"https:\/\/nigeriastandardnewspaper.com\/a\/sam-walton-face-behind-wal-mart-groceries-worldwide-inside-americas-wal-mart-billionaire-empire\/","title":{"rendered":"SAM WALTON: FACE BEHIND WAL-MART GROCERIES WORLDWIDE! INSIDE AMERICA’S WAL-MART BILLIONAIRE EMPIRE"},"content":{"rendered":"

\"182_Sam_Walton_1\"<\/a>SAM WALTON: FACE BEHIND WAL-MART GROCERIES WORLDWIDE! INSIDE AMERICA’S WAL-MART BILLIONAIRE EMPIRE<\/p>\n

SAM Walton, billionaire owner of Wal-Mart, America’s biggest grocery and one of the
\nwealthiest Americans that ever lived had a simple life, very calm, focused, visionary,
\ngodly and consistent with his dream. Irrespective of the challenges he had as a young
\nretailer when he started, he never allowed anything or anyone to stop his aspiration.
\nEven after his death in 1992 with a net worth of $65bn, then second richest man in the
\nworld after Bill Gates, his firm, Wal-Mart has become a lasting legacy not only for Americans,
\nAsians, Africans and other natives from continents around the world. Wal-Mart specialized
\nin name-brands at low prices and Walton was surprised at the success. Soon a chain of Wal-Mart
\nstores sprang up across rural America.<\/p>\n

How he started as a young Retailer in his father’s shop<\/p>\n

Naija Standard gathered that contrary to popular belief, Sam Walton (the founder of Wal-Mart)
\nwas not from Arkansas. He was actually born in Kingfisher, Oklahoma on March 29, 1918. He
\nwas raised in Missouri where he worked in his father’s store while attending school.
\nThis was his first retailing experience and he really enjoyed it. After graduating from
\nthe University of Missouri in 1940, he began his own career as a retail merchant when he
\nopened the first of several franchises of the Ben Franklin five-and-dime franchises in Arkansas.<\/p>\n

First Wal-Mart opened in 1962 & famous management style<\/p>\n

Investigation by Naija Standard showed that this action by Walton led to bigger and better
\nthings and he soon opened his first Wal-Mart store in 1962 in Rogers, Arkansas. Walton’s
\nmanagement style was popular with employees and he founded some of the basic
\nconcepts of management that are still in use today. After taking the company public
\nin 1970, Walton introduced his “profit sharing plan”. The profit sharing plan was a
\nplan for Wal-Mart employees to improve their income dependent on the profitability
\nof the store. Sam Walton believed that “individuals don’t win, teams do”.<\/p>\n

Wal-Mart empoyees offered stock & store discounts to encourage them<\/p>\n

Naija Standard learnt that employees at Wal-Mart stores were offered stock options and store discounts
\nby Walton as a way of encouragement. These benefits are commonplace today, but Walton was among the
\nfirst to implement them. Walton believed that a happy employee meant happy customers and more sales.
\nHe believed that by giving employees a part of the company and making their success dependent on the
\ncompany’s success, they would care about the company.<\/p>\n

Wal-Mart had one billion dollars sale in 1980<\/p>\n

Going by the success attained by Walton in the 1980s, Wal-Mart had sales of over one
\nbillion dollars and over three hundred stores across North America. Wal-Mart’s unique
\ndecentralized distribution system, also Walton’s idea, created the edge needed to further
\nspur growth in the 1980s amidst growing complaints that the “superstore” was squelching
\nsmaller, traditional Mom and Pop stores. By 1991, Wal-Mart was the largest U.S. retailer
\nwith 1,700 stores.Walton remained active in managing the company, as president and CEO
\nuntil 1988 and chairman until his death. He was awarded the Medal of Freedom shortly
\nbefore his death.<\/p>\n

Walton died in 1992 & left Wal-Mart in wife, children care to manage<\/p>\n

It was a sad story for the American bussiness community when the news was broken
\nthat Walton died in 1992. And by being the world’s second richest man, behind Bill Gates,
\nhe passed his company down to his three sons, daughter and wife. Wal-Mart Stores
\nIncorporated (located in Bentonville, Arkansas) is also in charge of “Sams Club”.
\nWal-Mart stores now operate in Mexico, Canada, Argentina, Brazil, South Korea,
\nChina and Puerto Rico. Sam Walton’s visions were indeed successful. At the time of his
\ndeath in 1992, Sam Walton’s net worth was $65 billion which he left to his widow
\nand three children to inherit and manage.<\/p>\n

Walton 10 business commandement Laws to Success<\/p>\n

Naija Standard further gathered that Walton had a guiding policy that helped him
\nin his business success so far. This he called his 10 Commandement to business success.
\nIt reads: 1.Commit to your goals,\u00a0 2. Share your rewards,\u00a0 3. Energize your colleagues,
\n4. Communicate all you know,\u00a0 5. Value your associates,\u00a0 6. Celebrate your success,
\n7. Listen to everyone,\u00a0 8. Deliver more than you promise,\u00a0 9. Work smarter than others
\nand 10. Blaze your own path.<\/p>\n

EDITOR’S NOTE: This is a business note for enteprenueurs across the world that
\nwith careful planning, hardwork,vision and diligence, success is attainable
\nin any field wahtsoever, no matter the challenge.<\/p>\n","protected":false},"excerpt":{"rendered":"

SAM WALTON: FACE BEHIND WAL-MART GROCERIES WORLDWIDE! INSIDE AMERICA’S WAL-MART BILLIONAIRE EMPIRE SAM Walton, billionaire owner of Wal-Mart, America’s biggest grocery and one of the wealthiest Americans that ever lived had a simple life, very calm, focused, visionary, godly and consistent with his dream. Irrespective of the challenges he had as a young retailer when […]<\/p>\n","protected":false},"author":2,"featured_media":94,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[110],"tags":[],"class_list":{"0":"post-93","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business"},"_links":{"self":[{"href":"https:\/\/nigeriastandardnewspaper.com\/a\/wp-json\/wp\/v2\/posts\/93","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/nigeriastandardnewspaper.com\/a\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nigeriastandardnewspaper.com\/a\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nigeriastandardnewspaper.com\/a\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/nigeriastandardnewspaper.com\/a\/wp-json\/wp\/v2\/comments?post=93"}],"version-history":[{"count":0,"href":"https:\/\/nigeriastandardnewspaper.com\/a\/wp-json\/wp\/v2\/posts\/93\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/nigeriastandardnewspaper.com\/a\/wp-json\/wp\/v2\/media\/94"}],"wp:attachment":[{"href":"https:\/\/nigeriastandardnewspaper.com\/a\/wp-json\/wp\/v2\/media?parent=93"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nigeriastandardnewspaper.com\/a\/wp-json\/wp\/v2\/categories?post=93"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nigeriastandardnewspaper.com\/a\/wp-json\/wp\/v2\/tags?post=93"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}