Phl 458 Famous Thinkers

In: Philosophy and Psychology

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Samuel Moore “Sam” Walton
Samuel Moore Walton entered the world in the usual way on March 29, 1918, in the poor, small town of Kingfisher, Oklahoma. Sam’s parents moved the family to Missouri in 1923 where he spent the remainder of his childhood bouncing from one Missouri town to another. Life was not easy for Sam and his family while growing up during the depression, nor did he take the easy way out…ever. He was a natural leader and driven even as a child; anything that Sam was part of, he ending up leading in some fashion. Youngest Eagle Scout, starting quarterback, honor society, class president, officer of his college fraternity, ROTC officer, and the list goes on. Sam was not afraid of hard work and understood the value of the dollar (Bell, 1999.)
Sam got his start in retail management right out of college in 1940 with J. C. Penny’s as a management trainee and then with a Ben Franklin variety store franchise that he ran out of a leased building. He quickly grew his franchise to be the number one franchise in a six-state region, making his success look easy. So easy in fact that the owner of the building refused to renew Sam’s lease and wanted to run the store himself. Sam tried to fight his landlord in court but lost. Instead of throwing up his hands in defeat he got busy. Sam Walton purchased another variety store franchise in Bentonville, Arkansas, changed the name of the store to Walton’s 5 & 10 (another Ben Franklin franchise). Twelve years later Wal-Mart was born (Friedman, 2004).
The contribution that Sam Walton made to society is taking retail chain stores to small town America, while making products as affordable as possible. Sam believed that a company should never mark-up goods any more than 30% from wholesale while other retailers were marking up their goods by 50-75% or more. Walton passed this savings directly on to the consumer. Another…...

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