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Since Sam Waltons death in 1992, Wal-Mart has grown into one of the worlds largest and most controversial companies. ... Sam Walton, implemented strategies that were successful enough to sustain this vision after his death. ...
Customer value and service was top on Sam Walton’s list of strategies. ... Sam Walton changed all that--and he did it without raising prices, without adding staff, and without hurting profits (McGarvey, 1997). ... Number eight of Sam Walton’s 1 Rules for Success is the epitome of this strategy:
“Exceed your customer’s expectations. ... ” (Sam Walton)
Sam Walton added another dimension to his customer service strategy by providing customers with access to quality goods when and where they want them. He provided a new style of convenience shopping that still maintained a variety of merchandise with the opening of Sam’s Club stores. ... One of Sam Walton’s biggest crusades was a commitment to driving costs out of the merchandising system (Huey, 2002). Walton knew what the future held and knew what it would take to get there. In 1996, when he only had 20 stores, Walton attended an IBM school in New York with a goal to hire the smartest guy in the class to computerize his operations. Walton became the icon of computerized inventory control and today Wal-Mart’s computer database is second only to the Pentagon’s in capacity (Huey, 2002). The simplicity of the innovative merchandising system implemented by Walton continues to grow today with large retailers. ... Walton implemented a system whose simplicity will perpetuate its success.
Another management strategy implemented by Walton that continues to aid in the success of Wal-Mart today relates to their partnerships with their employees. Sam Walton chose to call his employees associates. ... Sam Walton created a legacy of appreciation that is stated in his rule number five in Sam’s Rules for Building a Business.
Approximate Word count = 1501
Approximate Pages = 6
(250 words per page double spaced)
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