Sam Walton - Entrepreneur of the Century
|
|
ICMR HOME | Case Studies Collection
Case Details:
Case Code : LDEN022
Case Length : 14 Pages
Period : 2003 Pub Date : 2003
Teaching Note :Not Available
Organization : Wal Mart
Retail
Countries : USA
To download Sam Walton - Entrepreneur of the Century case study
(Case Code: LDEN022) click on the button below, and select the case from the list of available cases:
Price:
For delivery in electronic format: Rs. 300;
For delivery through courier (within India): Rs. 300 + Rs. 25 for Shipping & Handling Charges
»
Leadership and Entrepreneurship Case Studies
» Case Studies Collection
» ICMR HOME
» Short Case Studies
» View Detailed Pricing Info
» How To Order This Case
» Business Case Studies
» Area Specific Case Studies
» Industry Wise Case Studies
» Company Wise Case Studies
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.
|
|
<< Previous
Excerpts
Walton - The Leader
Analysts were convinced that Walton was a born
leader and a great motivator. They said that Walton's continued
focus on maximizing customer satisfaction; his pricing philosophies
and innovative human resource practices had made Wal-Mart, a global
leader in the retailing industry...
Maximizing Customer Satisfaction
Walton always believed that customer satisfaction was of primary importance and
emphasized on the importance of providing the best customer service. He once
said, "There is only one boss - the customer.
And he can fire everybody in the
company, from the chairman down, simply by spending his money elsewhere."13
In 1962, Walton laid down his three basic beliefs - 'Service to the customers,'
'Respect for the individual' and 'Strive for excellence.' Walton believed in
providing customers the best quality products at the most economical prices...
|
|
Walton's Pricing Philosophies
Wal-Mart's pricing strategies were strongly influenced by Walton's philosophy
of maximizing the 'value for money' of its customers. Walton made efforts in
procuring products at the lowest prices possible from the manufacturers...
|
|
The HR Practices
Since Wal-Mart's inception, the HR policies framed by Walton empowered
employees to make decisions, take risks and even commit mistakes if it was
for the cause of providing better customer service. Walton was known for
defining the company's relationship with its employees as a 'partnership.'
The employees at Wal-Mart were known as 'associates.' His mission for
associates was to 'get them, keep them and grow them.' Describing the people
management practices to the Wal-Mart managers, he once said, "In Wal-Mart,
we must treat our people with genuine respect and courtesy... |
Excerpts Contd...>>
|
|
