Sam Walton personality traits

1. In 1945, after leaving the military, Walton took over management of his first variety store at
the age of 26. With the help of a $20,000 loan from his father-in-law, plus $5,000 he had saved
from his time in the Army, Walton purchased a Ben Franklin variety store in Newport, Arkansas.
The store was a franchise of the Butler Brothers chain.

2. 1948- could not renew his lease so he bought a new store in Bentonville, Arkansas, called it
Waltons 5 & 10 1952- opened another store in Fayetteville, Arkansas By early 1960s co-owned
16 stores in 3 states, Arkansas, Missouri and Kansas

3. First Wal-Mart opened in 1962 in Rogers, Arkansas. By 1970, the Walton owned 18 Wal-
Marts 1991- Wal-Mart became world's largest retailer whit a total of 1,700 stores

4. Sells a wide variety of goods at a low price Products are bought in large quantities from the
lowest priced wholesaler and savings are passed to the customers Reflect Waltons belief that
Each Wal-Mart store should reflect the values of its customers and support their vision they
hold for their community Customers are greeted at the door Gives out a scholarship to a
graduating senior each year Having many products in one place is convenient to the customers

5. Attitude determines whether or not company succeeds Make important decisions Funding
the company Selecting advisers and management team Responsible for making their vision of
the company a reality

6. First to automate inventory process using a UPC barcode 1983- set up a private satellite
system to track deliveries, process credit transactions, and transmit data

7. 1. Respect for people. 2. Service to customers. 3. Strive for excellence.

8. Called his customers neighbors or guests. Referred to the managers in his company as
coaches. Referred to the employees of his company as associates or business partners. Fun-
loving leadership style.

9. Stick to fundamental values Dont follow the money, follow your passion Take care of your
people

10. Kmart had superior distribution centre with 500 stores. But Wal-Mart was going with the
strategy of filling every county or small town in America Walton spent time studying Kmart
stores. In 1972,they noticed an opportunity in Hot spring, Arkansas where Kmart was having
monopoly.
11. later to retaliate ,Kmart entered four of Wal-Mart's strong market. It was predicted that this
would lead to end of Wal-Mart Kmart and Wal-Mart waged a price war ,with Kmart dropping its
prices and Wal-Mart's remaining unchanged.

12. TOOTHPASTE WAR. Opening day strategy was a mess, due to extreme heat. Underdog
status forced Wal-Mart to find efficient ways to run business. Faced a challenging situation
,when Wal-Mart planned to acquire Kuhn's big k chain.

13. Visionary Risk taker Ambitious Simplicities

14. High expectations are the key to everything. he was an ordinary man who accomplished
the truly extraordinary through vision, hard work, and a never- say-die attitude.

15. I admire Sam Walton because he started a business that today is one of the most profitable
companies. Millions of people all over the world know of Wal-Mart, and no matter where you
travel to you are sure to find one located near you. I admire him because he started something
that will be known around the world forever, and all of his employees People who knew him
said he was a wonderful man, and that is a great thing to have.

Characteristics features of Sam Walton

1. Stick to fundamental values

Sam Walton had simple values that guided him through his life and business. He didnt follow
the latest management fad, nor did he believe in any of the get-rich-quick ideas. He was solidly
living his life by the values that he grew up with.

Similarly, as a leader building a team or an organization, you need to get away from all the
noise about the latest management framework, or the next idea about how leadership should
be done.
The principles that existed for thousands of years still exist today and all you have to do is
follow them, and people will follow you. There is nothing new under the sun and you shouldnt
be swayed by different ways and ideas; but stick to your values and you will be successful.

2. Dont follow the money, follow your passion

Sam Walton didnt start off his variety stores with an ambition to become rich; he simply had a
passion for his craft and at each point in time, he only wanted to do it better and better.

If you follow the money, youll be running from one business opportunity to another without
any focus. But Sam Walton had one focus: retail and so should you. When you follow your
passion, youll be successful in whatever craft you do, and you will become a leader in that field
that you commit yourself to.

3. Take care of your people

Sam Walton took extremely good care of his employees and he gave very employee a chance to
become successful with him by allowing them to purchase stock options of Wal-mart at a
discount. He treated them as associates of the business and wanted them to enjoy part of Wal-
marts success.

If you can value every single employee or team member in your organization, it will help toward
your personal success as well. But do it only because you genuinely care. Make them part of the
organization by allowing them to share the organizations success, be it by stock options or
other forms of rewards.

Theres a saying that goes, if you can make people around you successful, then you will be
successful too.