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Walmart

Digging Up the Views with Wal-Mart

Wal-Mart has been praised for its low prices and huge variety; they have also taken a hit about poor benefits and effects on the community. Every aspect will not be overlooked about the world's largest and richest company.
Sam Walton was the shrewd businessman behind the world's largest retailer. After working his way through the University of Missouri as a newspaper delivery boy, he got a job in Des Moines, Iowa, as a management trainee for J.C. Penny at a salary of $75 a month. He went into business with his brother Bud, and by 1960, the Waltons' 15 stores were taking in $1.4 million a year. But Walton soon saw a challenging new competitor arise, the discount store. The Walton brothers opened their first Wal-Mart in 1962, in Rogers, Arkansas. Specializing in name brands at low prices, the chain of Wal-Mart stores sprang up across rural America. (Browne 23)
Inspired by workers he saw in a tennis ball factory in Korea, Walton introduced the famous "Wal-Mart Cheer" to employees, whom the company refers to as "associates." Walton's management style was popular with employees and helped to spur growth in the 1980's. The superstore was putting a hamper on traditional mom and pop stores. Sales grew to $26 billion by 1989, compared to $1 billion in 1980.
By 1990, Wal-Mart was the largest U.S. retailer, with 1,700 stores. One year later Wal-Mart entered the international market for the first time with the opening of a unit in Mexico City. Within five years, Wal-Mart would enter Puerto Rico, Argentina, Brazil and China. Since then, Wal-Mart has built stores in Canada, Germany, Korea and the United Kingdom. Sam Walton remained active in managing the company as C.E.O. and president until 1988, and chairman until his death at the age of 74 in 1992. (Browne 44)
Wal-Mart Stores, Inc. is the world's largest retailer and the largest company in the world based on revenues, income, assets, and market capitalization. In the financial year...