Running head: Operation/Industry Paper

Organization/Industry Paper
University of Phoenix
Eco 365

Introduction
For many years, people across the United States has sought out ways in which to make money, and at the same time, provide for people a place where they can go and buy the necessities they need. Entrepreneurs from across the United States had ideas that seemed logical, but in actuality were not. Stores, business, and companies have been built, only to last for a short time. Not every store or business built has been successful. Many entrepreneurs in the United States had to take a huge hit before they built something successful. Such was the case for Sam Walton. His first attempt to developing a successful franchise failed. With much determination and desire to succeed, he became one of the most successful entrepreneurs of all time. Wal-Mart’s first store opened its doors in 1962. Sam Walton was the founder of the organization, which he thought of only after he had opened a chain of variety stores in the fifties that were unsuccessful. After the failure of those stores, Sam Walton went across the nation and studied everything there is to know about retail discount stores. Believing in his ability and with what he had learned from his first failed experience; Wal-Mart was born in Rogers Arkansas. Throughout the 60’s, discount retailers such as K-Mart and Target began to expand drastically, but Sam Walton had only built 15 Wal-Mart stores. That changed in the 70’s when the company began to be publicly trade on the New York stock exchange. By the end of the decade, there were 276 stores in 11 states. (Walmart.com) In the 80’s, Wal-Mart really began to expand and consumers began to pay attention. In 1982, Sam’s Club member’s warehouse opened supplying businesses and consumers with bulk low priced products. In 1988, the first Wal-Mart