Sam Walton - Entrepreneur of the Century

Walton always believed that customer satisfaction was of primary importance and emphasized on the importance of providing the best customer service. He once said, "There is only one boss - the customer.

And he can fire everybody in the company, from the chairman down, simply by spending his money elsewhere."¹³ In 1962, Walton laid down his three basic beliefs - 'Service to the customers,' 'Respect for the individual' and 'Strive for excellence.' Walton believed in providing customers the best quality products at the most economical prices...

Since Wal-Mart's inception, the HR policies framed by Walton empowered employees to make decisions, take risks and even commit mistakes if it was for the cause of providing better customer service. Walton was known for defining the company's relationship with its employees as a 'partnership.' The employees at Wal-Mart were known as 'associates.' His mission for associates was to 'get them, keep them and grow them.' Describing the people management practices to the Wal-Mart managers, he once said, "In Wal-Mart, we must treat our people with genuine respect and courtesy...