100 Entrepreneurs Who Changed The World
14. Sam Walton 1918-1992
“There is only one boss. The customer. And he can fire everybody in the company from the chairman on down, simply by spending his money somewhere else.”
Sam Walton was an American businessman and entrepreneur who revolutionized the retail shopping world through his two stores Wal-Mart and Sam’s Club. Walton took over a Ben Franklin’s variety store in in 1946 after serving in the Army. He took care to make sure the store had shelves stocked and competitive pricing. His success soon enabled him to buy a smaller store near the first, and by 1962 he and his brother owned a chain a Ben Franklin’s in Arkansas, Missouri, and Kansas. The first Wal-Mart opened in Rogers, Arkansas on July 2nd, 1962. Now a retail superstore with locations across North America, Wal-Mart has redefined retail shopping. Through bulk order Wal-Mart is able to offer considerably cheaper prices than most other retailers. The plus to consumers is low cost food, clothes, household needs, and even prescription drugs. Often targets of media sensationalism, Wal-Mart has a proud record of bringing jobs to communities, hiring veterans, and offering communities low priced goods.
