Wal-Mart History

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Wal-Mart is probably a place where just about everyone has been shopping at one time or another. Walmart was founded on July 2, 1962 in Rogers, Arkansas by Sam Walton. Walton’s strategy was built on a solid mission statement: The Lowest Prices Anytime, Anywhere. In 1969 is when Wal-Mart really took off and became officially incorporated as Wal-Mart Stores, Inc. History The real journey for Wal-Mart was in the 1970’s, which became the decade of phenomenal growth for the company. Wal-Mart became a publicly traded company, with the first stock being sold at $16.50 per share. By 1972, Wal-Mart had 51 stores and recorded sales of $78 million. Also during this decade, Mr. Sam decided to take Wal-Mart national. By the end of this decade, the Walmart…show more content…
They also opened up the first Sam’s Club, serving small businesses and individuals. The company reached annual sales of $1 billion which was faster than any other company during that time period. At the end of the 1980’s, David Glass was named the CEO of Wal-Mart Inc. In the 1990’s, Wal-Mart became the nation’s number-one retailer. Wal-Mart had redefined convenience and one-stop shopping; Every Day Low Priced was now international. In 1992, founder Sam Walton passed away at the age of 74. His brother Rob Walton stepped up and became chairman of the board. Upon Sam Walton’s brother stepping up as Chairman of the Board, H. Lee Scott, Jr. also took over the position of CEO. These two together founded Walmart.com allowing customers to now shop online. In 2004, Wal-Mart finally made the top of the Fortune 500 America’s largest companies list. Later in the 2000’s Wal-Mart adjusted to the trend to save our environment by making a goal to create zero waste. They would do this by only using renewable energy and sell products that sustain people and the environment. In 2012, Wal-Mart celebrated 50 years of helping individuals “Save Money Live Better”. Competitive…show more content…
Although the entry barrier is fairly high because Wal-Mart has great distribution systems, locations, brand name and financial capital to fend off its competitors. Wal-Mart has put them in a spot where they have a cost advantage over other competitors. Their main competitors are K-Mart and Target. Target is the strongest rivalry for Wal-Mart because Target has experienced a lot of growth in the industry. Supplier Power Wal-Mart has a low to medium pressure regarding supplier power. Since Wal-Mart is such a large company and hold a lot of market share, they provide business to a lot of manufactures and wholesalers. This gives Wal-Mart a lot of power because if they threaten to switch to a different supplier, it would create a scare tactic to the suppliers. Wal-Mart does deal with some large supplier such as Proctor & Gamble and Coca-Cola who have a bit more bargaining power than the smaller suppliers. Bargaining Power of

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