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Mis of Wal-Mart

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INTRODUCTION

Wal-Mart Stores, Inc. branded as Wal-Mart, is an American multinational retailer corporation that runs chains of large discount department stores and warehouse stores. Wal-Mart is a retail giant. This company is the third largest public corporation in the world. Website link to the selected company, www.wallmart.com

Background:

Sam Walton, a businessman from Arkansas, began his retail career when he started work on June 3, 1940, at a J. C. Penney store in Des Moines, Iowa where he remained for 18 months. In 1945, he met Butler Brothers, a regional retailer that owned a chain of variety stores called Ben Franklin and that offered him one in Newport, Arkansas [1].

Walton was extremely successful in running the store in Newport, far exceeding expectations [2] .However, when the lease came up for renewal, Walton could neither come to agreement on the existing store's lease renewal nor find a new location in Newport. Instead, he opened a new Ben Franklin franchise in Bentonville, Arkansas, but called it "Walton's Five and Dime." There, he achieved higher sales volume by marking up slightly less than most competitors [3].

On July 2, 1962, Walton opened the first Wal-Mart Discount City store located at 719 Walnut Ave. in Rogers, Arkansas. The building is now occupied by a hardware store and an antique mall. Within five years, the company expanded to 24 stores across Arkansas and reached $12.6 million in sales [4]. In 1968, it opened its first stores outside Arkansas, in Sikeston, Missouri and Claremore, Oklahoma [5].

Wal-Mart experienced a lot of growth throughout the 1970s and 1980s. This is when a lot of stores started to open nationally. It has the opportunity of being the most profitable retail outlet. Apart from this it has the privilege of being the largest employer in the United States. Over 1 million employees are employed in this

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