Sam Walton - Entrepreneur of the Century
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Case Details:
Case Code : LDEN022
Case Length : 14 Pages
Period : 2003 Pub Date : 2003
Teaching Note :Not Available
Organization : Wal Mart
Retail
Countries : USA
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"Sam's establishment of the Walton culture throughout
the company was the key to the whole thing. It's just incomparable. He is the
greatest businessman of this century."1
- Harry Cunningham, Founder, K-Mart Stores.
Introduction
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In November 1999, Sam Walton, the founder of Wal-Mart, the global retailing
giant based in US, was ranked among the top ten 'entrepreneurs of the 20th
century' by the Wall Street Journal (WSJ). WSJ placed Walton ninth in their list
titled "Top Ten Who Changed the World for Entrepreneurs." Walton also found a
place among the WSJ's top ten list of "The Minds That Transformed
Entrepreneurship in the 20th Century." He received many prestigious awards for
revolutionizing the global retailing industry by creating very large stores that
offered goods at economical prices. TIME magazine conducted a survey2
in January 2000 to select "The Most Influential People of the 20th century."3
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Walton was ranked among the top ten in the field of "Builders & Titans."
Commending Walton, Tom Peters, the international management guru and
co-author of 'In Search of Excellence,' said, "With the possible exception
of Henry Ford, Sam Walton is the entrepreneur of the century."
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Walton had transformed Wal-Mart from a start-up company in the 1960s to the
world's largest retailer in the new millennium (Refer Exhibit I). With
Walton's unique entrepreneurial abilities and visionary leadership, Wal-Mart
excelled in the global retailing industry in spite of intense competition.
Commenting on the exceptional growth that Wal-Mart had witnessed, in an
interview to New York Times, Walton said, "I had no vision of the scope of
what I would start, but I always had the confidence that as long as we did
our work well and were good to our customers, there would be no limit to
us."4 |
Sam Walton - Entrepreneur of the Century
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