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In 1962, Sam Walton opened his first Wal-Mart store in Rogers, Arkansas. No one could have 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 (Smith 1998)." Even with Walton’s death (after a two-year battle with bone cancer) in 1992, Wal-Mart’s sales continue to grow significantly. Their status as a retailing juggernaut notwithstanding, the organization has faced, and is still facing, a significant amount of controversy over several different issues. Recently, Wal-Mart has faced allegations regarding its employment practices. Striking a comfortable balance between increasing profits and recognizing social and ethical responsibilities remains a challenge. Wal-Mart is successful not only because it makes sound strategic management decisions, but also for its innovative implementation of those strategic decisions. 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. 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 (EBSCO 1998).
Approximate Word count = 880
Approximate Pages = 3.5
(250 words per page double spaced)
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