Wal-Mart Essay

2440 WordsMay 13, 200810 Pages
COMPANY OVERVIEW Wal-mart is probably the best example of capitalism, and the worst. With over 88,000 associates, 112 distribution centers, and 51 transportation offices, it’s one of the biggest corporations in existence. From the time Sam Walton opened the company’s first discount store in 1962 Wal-mart has grown into one of the biggest businesses in the world. MISSION AND GOALS Wal-mart’s purpose is stated only as a quote of Mr. Walton’s: “If we work together, we’ll lower the cost of living for everyone…we’ll give the world an opportunity to see what it’s like to save and have a better life.” (walmartstores.com). HISTORY OF WAL-MART Sam Walton opened the first Wal-Mart discount store in 1962 in Rogers, Arkansas. Less then 2 years later the second Wal-mart opened. David Glass, who went on to be Wal-Mart stores CEO, describes he Grand Opening of the second Wal-Mart store as having a “couple of trucks of Watermelons”, a “donkey ride in the parking lot”, and “the worst retail store [he] had ever seen”. Wal-Mart was officially incorporated on October 31, 1969. In 1970 the first Wal-Mart distribution center opened as well as the Wal-Mart home office. “1,500 Associates were working in 38 stores with sales of 44.2 million” Over the years Wal-Mart did nothing but grow, and expand. On it’s 25th anniversary Wal-mart Corporation held claim to 1,198 stores and sales of 15.9 billion. In 1990 Wal-mart was the nations number one retailer, and it’s stock split 100 percent, for the ninth time. The following year, Wal-mart began it’s international journey with a retail unit in Mexico City. But with this growth came criticism. Wal-mart has been accused of everything from implementing poor working conditions, avoiding health scandals, to driving out small businesses. Wal-mart, however, has maintained a customer-first attitude. Wal-mart associates at

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