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The Wal-Mart Mob

For several decades Sam Walton has transformed a small shop in the center of a town into the world’s largest retailer, Wal-Mart. The principle of all sales points of the network was one – the maximum amount of goods at the lowest price.

When Walton and his family moved to a town with a population of 3,000 people, he opened a new store under the name of Walton’s Five and Dime. During the first year, the store’s revenues amounted to $32,000. In 1952, Walton opened another store in another town. By 1962 Walton, together with his younger brother Bud opened 16 stores in Arkansas, Missouri, and Kansas.

Walton began to attract directors of stores as partners, allowing them to invest their own funds in shops.

Then Walton turned his attention to the strategy of low prices. He tried in every way to avoid middlemen, buying goods directly from manufacturers. In addition, his retail prices were lower than competitors’, preferring not to earn a high trade margin, but high-volume sales.

For 10 years, Walton not only studied the theory of the trading business, but also practiced some self-invented store management principles. Most of all he liked to visit other shops and take from them interesting ideas.

The first market Wal-Mart opened in July 1962 in Rogers, Arkansas. The main idea of the entire network of stores was Low Prices and Permanent Sales. It was also distinguished by the friendly atmosphere of a small family shop. Employees of this store were local people.

In five years, Walton opened 24 convenience stores that brought more than $12 million every year. Gradually, the Wal-Mart chain has moved beyond its state and became a national American retail chain.

Even though this is one of the world’s largest retail stores, Wal-Mart is an economically unfair employer. Recently, it was found that Wal-Mart’s employees get low wages, don’t get paid for overtime, and its employees are now seeking legal action against the Wal-Mart Corporation.

Wal-Mart has been creating many ads to attract people to work. There are even commercials that show how Wal-Mart employs Down syndrome employees. It looks like Wal-Mart is looking for the public’s support and loyalty to its stores in order to hide the truth of its employee’s dissatisfaction with their wages and unjust work expectations.

Employees also say that Wal-Mart management doesn’t hire new people beyond the time when additional help is really needed. Employees complain about their actual job duties. For example, a woman who was hired as a cashier can be asked to leave her post in order to retrieve something from a shelf or explain to the customers the differences between lawn mowers.

For several decades Sam Walton has transformed a small shop in the center of a town into the world’s largest retailer, Wal-Mart. The principle of all sales points of the network was one – the maximum amount of goods at the lowest price.

When Walton and his family moved to a town with a population of 3,000 people, he opened a new store under the name of Walton’s Five and Dime.

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Assignment ID
100001908
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CREATED ON
September 23, 2016
COMPLETED ON
September 24, 2016
Price
$26
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michael.easley1151
December 8, 2016
michael.easley1151
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December 8, 2016
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December 8, 2016
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