Sam Walton : Made in America My Story

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Take action first and a lot of things will fall into place. We always think about preparing ourselves perfectly for a situation before we take any action on it however if you look at Sam Walton's story he usually learned by taking action. Context and critical analysis. Connections to ideas from related books. Unique commentary and counter-arguments that you won't find anywhere else.

He often took competitor’s strategies and improved them, for example displaying items on wooden shelves was a new practice in many stores. To save money, Sam bought metal ones instead, thus saving enough to reduce prices even further. He discovered cheaper suppliers in a different state and brought their merchandise into his store with car trailer that was homemade.Landrum, Gene N. (2004). Entrepreneurial Genius: The Power of Passion. Brendan Kelly Publishing. p.120. ISBN 1895997232 . Retrieved December 30, 2012. Sam built Walmart by copying. He didn't just merely copy someone else's design, he took the best from everyone, and everything. He found what worked and doubled-down.

The first one is could a Wal-Mart-type story still occur in this day and age? My answer is of course it could happen again. Somewhere out there right now there’s someone—probably hundreds of thousands of someones—with good enough ideas to go all the way. It will be done again, over and over, providing that someone wants it badly enough to do what it takes to get there. It’s all a matter of attitude and the capacity to constantly study and question the management of the business.” Sam Walton graduated college in 1945 and he began working at JC Penney as a management trainee. This experience got him excited about the retail business and he decided to open his own store. But before he could do that, he served in the US army and got married. He was also reading all the books he could find in the libraries about the retail business. Cleaning up/out my office, I came across my notes from when I was listening to the CDs. Here are the parts that I thought were cool or at least valuable: After that, he moved to the city of Claremore, where he met Helen, his wife. They got married a year later, on Valentine's Day.Walmart's test store for new technology, Sam's Club Now, opens next week in Dallas". TechCrunch. October 29, 2018 . Retrieved November 6, 2020. It was in trying to lure customers away from a local Kmart that Walmart came up with its first big discount tactic. Sam Walton’s story is the true ‘American Dream’. A hard-working individual, who gets along with anyone, thrives in competition and serves his customer. He doesn’t start Walmart until he’s 45 years old and builds it into an empire.

He tried various attention grabbers to bring people inside his store, including a soft ice cream machine and a popcorn machine. The first Walmart store had a sign with with their name and two slogans on either side. The slogans were: “We sell for less” and “Satisfaction guaranteed.” Sam Walton says this strong focus on selling for less has made them so successful. He was always determined to keep Walmart’s prices lower than all their competitors:Lee, Sally (2007). Sam Walton: Business Genius of Wal-Mart. Enslow Publishers, Inc. p.13. ISBN 978-0766026926 . Retrieved December 30, 2012. Diamond, Arthur M. (2019). Openness to Creative Destruction- Sustaining Innovative Dynamism. USA & UK: Oxford University Press. p.25. Reading about Sam’s life makes you really like him as a character as he lives such an authentic life without pretending to be anyone else. Some of my favourite parts were all the different experiments he kept on trying, buying an airplane to get around the US and scouting shops and his Saturday meetings.