Sam Walton - Entrepreneur of the Century


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Case Details:

Case Code : LDEN022
Case Length : 14 Pages
Period : 2003 Pub Date : 2003
Teaching Note :Not Available
Organization : Wal Mart
Retail
Countries : USA

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Please note:

This case study was compiled from published sources, and is intended to be used as a basis for class discussion. It is not intended to illustrate either effective or ineffective handling of a management situation. Nor is it a primary information source.

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"Sam's establishment of the Walton culture throughout the company was the key to the whole thing. It's just incomparable. He is the greatest businessman of this century."1

- Harry Cunningham, Founder, K-Mart Stores.

Introduction

In November 1999, Sam Walton, the founder of Wal-Mart, the global retailing giant based in US, was ranked among the top ten 'entrepreneurs of the 20th century' by the Wall Street Journal (WSJ). WSJ placed Walton ninth in their list titled "Top Ten Who Changed the World for Entrepreneurs." Walton also found a place among the WSJ's top ten list of "The Minds That Transformed Entrepreneurship in the 20th Century." He received many prestigious awards for revolutionizing the global retailing industry by creating very large stores that offered goods at economical prices. TIME magazine conducted a survey2 in January 2000 to select "The Most Influential People of the 20th century."3

Walton was ranked among the top ten in the field of "Builders & Titans." Commending Walton, Tom Peters, the international management guru and co-author of 'In Search of Excellence,' said, "With the possible exception of Henry Ford, Sam Walton is the entrepreneur of the century."

Walton had transformed Wal-Mart from a start-up company in the 1960s to the world's largest retailer in the new millennium (Refer Exhibit I). With Walton's unique entrepreneurial abilities and visionary leadership, Wal-Mart excelled in the global retailing industry in spite of intense competition.

Commenting on the exceptional growth that Wal-Mart had witnessed, in an interview to New York Times, Walton said, "I had no vision of the scope of what I would start, but I always had the confidence that as long as we did our work well and were good to our customers, there would be no limit to us."4

Sam Walton - Entrepreneur of the Century - Next Page>>


1]  As quoted in the book Sam Walton: Made In America, by Sam Walton with John Huey, Bantam books, 1992, page 199.

2]  The survey ranked 100 greatest people of the 20th century in five different fields - Leaders & Revolutionaries, Artists & Entertainers, Builders & Titans, Scientists & Thinkers, and Heroes & Icons.

3]  As quoted in the book Sam Walton: Made in America, by Sam Walton with John Huey, Bantam books, 1992, page 318.

4]  As quoted in the book, Built To Last, by James Collins and Jerry Porras, HarperBusiness, 1994, page 25.

 

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