Sam Walton Essay

777 words - 3 pages

There were several characteristics of Sam Walton that enabled him to be successful in his life and business dealings. Sam Walton could do anything he put his mind to. This can be witnessed in his ability to transform a small town store into a 25 billion-dollar industry at the time of his death. Walton did not want to be poor, and this helped to push him when the going got tough because he knew what the possible outcome would be. For example, when Walton first started producing more Wal-marts, he was in great debt. In fact the only way he could get out was to make more stores and continue to set lower prices than the competition. Walton grew up into a poor environment as a child, so he knew what it was like to be at the short end of the stick. Perhaps his difficult childhood gave him something to strive towards later on in his life. Walton learned several things from others as well. For instance, he learned to economize from his job at J.C. Penney. And while he was developing his first general store, Walton saw what the competition was doing wrong, and did the complete opposite, such as selling more quantity in order to make a bigger profit in the long run. It can probably be stated that Sam Walton would not have been as successful if his devoted wife had not been there along his side. Always there for him, Mrs. Walton was able to keep the entire family together during the hard and difficult times. While Sam was out doing the dirty work trying to make something of his business, Mrs. Walton was playing the role of mother and father back at home. Sam Walton had to create and develop his business in a very difficult environment. Competition was all around, and most people saw Walton’s store as a dead-end flop when it first began. Before the founding of Wal-mart, all of the businesses were the same, trying to set prices in hopes of large gains from not so large quantities. Walton saw what was going on and took advantage of what he saw. Thinking in terms of volume, Walton even went so far as to go straight to the wholesalers at early hours of the morning in order to get the product at its cheapest price. No one would have thought...

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