Samuel (Sam) Moore Walton

AN UNCOMMON, COMMON MAN

History
Born: March 29, 1918 in Kingfisher, Oklahoma. Met wife while working in Claremore and married her on February 14, 1943 Had four children. Died April 5, 1992 of cancer, buried in Bentonville near Wal-Mart headquarters

Accomplishments
States youngest Eagle Scout Richest man in the world 1982 1988, worth $21 $23 billion at his death
Ranked 2nd, behind Bill Gates, in 1992 when he died

Awarded Medal of Freedom in 1992

Highest honor awarded to a civilian Recognizes individuals who have made an especially meritorious contribution to the American society in some way.

Book :Sam Walton, made in America

Schooling
Hickman High School
on basket ball team and starting quarterback on football team, went to state in 1935 Honor Student Junior year: Vice President of Class Senior year: President of Student Body

University of Missouri Major: Economics

Zeta Phi chapter of Beta Theta Pi Fraternity Alpha Kappa Psi (Professional Business Fraternity Graduated in 1940

Prior Work
Childhood: milked cow, delivered newspapers College: waiting tables, lifeguarding, and delivering newspapers First Job in Retailing: JCPenny in Des Moines, Iowa, management trainee DuPont munitions plant in Tulsa US Army Intelligence Corps, supervised security at aircraft plants and prisoner of war camps

Before He owned Wal-Mart. . .

1945- Bought first department store, a Ben Franklin Five-and-Dime franchise 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

I WILL BLOW IT..!!

Then Came Wal-Mart

First Wal-Mart opened in 1962 in Rogers, Arkansas. By 1970, the Walton Brothers owned 18 Wal-Marts By 1976, Walton closed ALL his 5 & 10 stores 1991- Wal-Mart became worlds largest retailer whit a total of 1,700 stores

Wal-Mart as a Company
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

Founders
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

How Sam Walton Improved Wal-Mart

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
Eliminated need for storage in each store.

Core values
Mr. Sam was a people person who was driven by a set of three core values:

1. Respect for people 2. Service to customers.

3. Strive for excellence.

10 RULES OF Mr. Sam

Rule 1: Commit to your business
passion- like a fever Rule 2: Share your profits with all your associates, and treat them as partners. behave as a servant leader Rule 3: Motivate your partners. Don't become too predictable Rule 4: Communicate everything you possibly can to your partners.
Rule 5: Appreciate everything your associates do for the business.
worth a fortune Information is power

Contd.
Rule 6: Celebrate your success. Loosen up, and everybody around you will loosen up Rule 7: Listen to everyone in your company and figure out ways to get them talking. Rule 8: Exceed your customer's expectations. "Satisfaction Guaranteed" Rule 9: Control your expenses better than your competition. Rule 10: Swim upstream. Go the other way

 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.

 POWER OF POSITIVE THINKING

COMMONS ENSE

HARDWORKING

SIMPLICITY

Openminded Good listener

INNOVATIO N

neversay-die attitude.

LEADERSHIP LESSONS
Stick to fundamental values Dont follow the money, follow your passion Take care of your people

QUOTES..
We're all working together; that's the secret. Capital isn't scarce; vision is.

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.

ENTREPRENEUR

ENTERTAINER
PREACHER

Last words by Sam

I BLEW IT.

THANK YOU