Sam Walton launched
his first Wal-Mart
in 1962 in Rogers, Arkansas. The banner that hung across the first store summed up one of Walton’s underlying philosophies—it read, “We Sell for Less.” As a discounter, Walton defined
his business by volume, not by individual products. In articulating this philosophy, Walton said
, “by cutting your price, you can boost your sales to a point where you earn far more at the cheaper retail than you would have by selling the item at the higher price.” With its low-price philosophy
, Wal-Mart has become an influential force in the U.S. economy, employing more people than any other company. Enjoying a favorable reputation among the business community, Wal-Mart ranked
at the top of Fortune magazine’s list of “Most Admired Companies in America” in 2003 and 2004?
Don't use plagiarized sources. Get Your Custom Essay on
Sam Walton launched his first Wal-Mart in 1962 in Rogers, Arkansas. The banner that hung across the.
For as low as $13/Page