“We’re all working together; that’s the secret. And we’ll lower the cost of living for everyone, not just in America, but we’ll give the world an opportunity to see what it’s like to save and have a better lifestyle, a better life for all. We’re proud of what we’ve accomplished; we’ve just begun.” (Sam Walton, 1992)Sam Walton’s vision came true through his remarkable leadership skills. Born on March 29, 1918 into a poor farming family, Sam grew up an ambitious boy during the Great Depression. Sam Walton got his start waiting tables, lifeguarding, and delivering newspapers to put himself through the University of Missouri as his family struggled to make ends meet. After graduating, he first entered the retail world by working as a management trainee at a salary of $75.00 a month. Not long after, he met his future wife, the daughter of a prosperous banker and rancher, and had his first son in 1944.
With help from his father-in-law and money saved during his military service, Sam first changed the retail world as everyone knew it when he purchased his first department store. Central locations, a wide range of goods, discount merchandising, and longer hours were just a few of the new business ideas Sam Walton applied to the store locations he continued to buy. Sam was always looking for new ideas to improve business and more so to keep the customer happy. After successfully buying and opening numerous stores, including Walton’s Family Center, the first Wal-Mart opened its doors in 1962. It became the world’s number one retailer and has led to over 5,700 Wal-Mart locations in the world.
Although Sam Walton went from a poor town boy to the richest man in America in 1985, he spent much of his career unnoticed by the public or the press. His hard work and visions changed the structure of business that continues to be copied by many. Creating hundreds of thousands of jobs for our economy and giving all of us “low prices” has made Wal-Mart a common name in every household. Sam Walton’s hard work, ambition, and risk-taking have surely changed the American way of life.
References:
Fitzgerald, K. (n.d.). Sam Walton: The Model Manager of Wal-Mart. Business Biography, Retrieved February 20, 2009, from http://www.stfrancis.edu/ba/ghkickul/stuwebs/bbios/biograph/walton1.htm
Walton, S. (1992). Sam Walton: Made in America. New York, NY: Doubleday.
Sam is truly an extraordinary example of authentic leadership. Sam Walton was not just any business man, he was a visionary. At a very early stage in life, he taught himself to take life's challenges head on. Sam Walton was the one to pursue his dreams. He created the giant of retail business.
ReplyDeleteFrom what I have learned of him, I believe he gained the edge in sales over other retailers by taking risks, adopting approaches that worked for competitors and getting the most from his employees. In addition, he provided excellent customer service, established cost cutting prices and managed his products effectively. He truly is a mastermind.
Sam Walton possesses many leadership qualities that have led to his success. You mentioned that "his hard work and visions changed the structure of business that continues to be copied by many." I think this was also true of Walt Disney. Disney was also a visionary and he worked hard to find success. These men are seen as geniuses in their respective fields and their ideas and innovations are copied and emulated by many around the world. I also agree with Erin that Sam's ability to meet life's challenges head on helped him become a leader in his field. His ability to persevere to achieve his goals in his early years enabled his to become a successful entrepreneur.
ReplyDeleteWal-Mart is huge and it all has to do with Mr. Sam Walton. It is wonderful how he had a vision and a goal of giving a better lifestyle, and a better life for everyone. It must have taken many hours of hard work for him to accomplish the feat of being the world's number one retailer. This is the same type of vision Arnold Schwarzenegger had when he decided he would be the world's greatest bodybuilder. Both Mr. Walton and Schwarzenegger had a vision and put in the hard hours of work to accomplish their goals. That's what great leaders do.
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