The Wal-Mart Retail Chain Company, Sam Walton - Essay Example

Report Sam Walton Who was he? The Wal-Mart retail chain company is a household in America as well as in the Europe. However, many people do not know the person behind this multinational and world influential corporation actually. Sam Walton is the American businessperson that established the world leading retail chain, the Wal-Mart Corporation that is today (Ortega, 2000). When did he live? In Kingfisher, Oklahoma, a young couple was blessed with a child, on March 29 1918, the child that became Sam Walton (Ortega, 2000). Sam Walton was the firstborn to his parents. Thomas Walton and Nance Lee. Sam Walton lived for several years until when he met his untimely death in 1992 (Ortega, 2000). Where did he live? Sam Walton lived in Kingfisher, Oklahoma (place of birth) for his initial years (Ortega, 2000). The family later moved to other areas, beginning with the move to Missouri where they raised Sam Walton. Upon his marriage to his wife Helen in 1943, Sam Walton lived in his house in Bentonville, Arkansas (Ortega, 2000). In his early years In those early years, Sam Walton showed his ability to thrive through his conquests and active participation in different activities. As a young person, in school, he was among the best quarterback of the high school soccer team and a good athlete. It is memorable that his classmates did name him “most versatile boy” (Ortega, 2000). Therefore, it is evidently notable that from this label, Sam Walton was a remarkably active young person, utilizing his talent and skills accordingly to become the successful and influential person that he ended becoming. After completing university, he took his first job in Des Moines with J.C Penny Company, a retailing company, which gave him experience (Ortega, 2000). He also joined the army and served as a captain during the World War II. He left the military in 1945 and went back to his private life where he began his ventures in business. Where did he study? As a young person, Sam Walton underwent all the channels of learning to establish the capacity to engage the society challenges. He began his learning life at Hickman High School in Columbia, Missouri (Ortega, 2000). It is in this school that in 1936, his friends and classmates named him “most versatile boy”. After high school, Sam Walton chose not to depart from home, as he stayed close and enrolled at the University of Missouri located in Columbia (Ortega, 2000). While at the university, Sam pursued his degree in economics, graduating in 1940 with his accreditation. Observing from his interests in the study of economics, it is evident his learning life did shape his eventual establishment of the business venture. Studying economics gave Sam the ideal platform and knowhow to see the opportunities for business later and tap them accordingly; hence, the success he later achieved in his adventures. What did he invent to become famous? Sam Walton is most famous for his founding of the Wal-Mart Corporation. He began as a small retail venture with a single store. Sam acquired the first store through a $25,000 loan, which he acquired from his father-in-law (Ortega, 2000). He bought the Ben Franklin franchise in the Arkansas airport alongside his younger brother James Walton. In two decades, the single store had expanded to give rise to 15 stores; however, the frustrations at the management level prompted him to venture on his own leaving the franchise to his brother. Sam Walton established the first Wal-Mart store in 1962 (Ortega, 2000). The location was at Rogers, Arkansas, and the success story began swiftly considering the experience he had already established. By the year 1976, the Wal-Mart retail company was already trading publicly in the stock shares with a value of $176 million (Fishman & Sklar, 2006). The company expanded accordingly and by the 1990s, and the company shares were worth $45 billion, surpassing the Sears, Roebuck and company to achieve the country’s largest retailer corporation in America. What effect does that have on our lives today? The launching of the first Wal-Mart store in Rogers Ark marked the beginning of a venture that would later have such much significance in the American economy as it does today. The Wal-Mart Corporation has a remarkable significance today in all aspects of the American lives (Fishman & Sklar, 2006). The corporation has eventually become the benchmark and defining foundation shaping the retail industry in the U.S. and shaping the entire economy as well. The retail chain today has over four thousand four hundred stores. Thus, Wal-Mart is so large that it is truly reaching mind-boggling levels just at its expansive operations. The core significance of Wal-Mart is its contribution to the country through offering employment opportunities to the people. The corporation is the world’s leading private employer. At the overall employment sector, it is only third after the U.S. Department of defense and the China’s People Liberation Army (Fishman & Sklar, 2006). The Wal-Mart Corporation has over 2.1 million workers, a population of workers that exceeds the population f the District of Columbia. Each week, it is notable that over 140 million people shop at the Wal-Mart stores (Fishman & Sklar, 2006). This significance is evidence of the contribution of the corporation to the American economy and the individual lives of the American people both those working at the company and those gaining supplies from the stores. The corporation is also significant in its contributions to the aspects of community service that it engages to facilitate a better environment for the people (Fishman & Sklar, 2006). The Wal-Mart Corporation remains a significant economic entity in America, influencing the lives of many of the American people. However, on the negative aspects, the rise of the Wal-Mart Corporation saw it become a target for many of the small merchants in town. The corporation rise saw a significant preference for the store over the local small stores. Consequently, these stores complained that the Wal-Mart chain was wiping out the smaller stores in the community, causing people to lose jobs and livelihoods. However, the Wal-Mart Corporation met this fear by promising to give employment priority to the people from the community where it operates (Fishman & Sklar, 2006). Thus, the corporation is significant in the lives of many of the communities where it operates. Has it led to another invention or research? The invention of the Wal-Mart retail Corporation has seen the advent of many other ventures in the industry, which are notably influencing the industry accordingly (Fishman & Sklar, 2006). The competition the retail chain brings to the industry is elemental in encouraging the other stores in the industry to engage strategic development approaches, stimulating the economic growth and expansion of the country. The Wal-Mart Corporation as a leading business operator has also seen the advent of other services associated with the organization, hence, facilitating further inventions. Thus, the corporation is highly influential in fostering further research and expansion of operational services. Ray Kroc Who was he? The McDonalds store is a key business venture in the U.S. operating as a local chain and one of the world’s leading profitable restaurant franchise in operation. This famous household name emanated from the genius mind of Ray Kroc the founding figure of the restaurant franchise (Hall, 2003). When did he live? Ray Kroc was born in 1902 and lived until 1984 when he met his death at the age of 81 years (Hall, 2003). Living through the World War I to later establish him as a renowned figure in the American franchise industry (Hall, 2003). His contributions though his life are evident in the success that the McDonalds venture has achieved to date. Where did he live? Ray Kroc parents were of the Czech origin that lived in Oak Park, Illinois where he was born on October 5 1902 (Hall, 2003). Kroc lived with his parents in virtually most of his young life, at the Oak Park even to his later years after establishing the vast restaurant franchise. Where did he study? Ray Kroc through his early life lived a free young life, joining in the World War I to serve as a driver of the Red Cross ambulances. It is notable that he lied about his age, only for him to start work at the age of 15 years (Hall, 2003). it was during his training while at the world war I service that he met his longtime friend Walt Disney, whom they maintained a professional life accordingly. Further, upon the end of the World War I, Ray Kroc took several career chances, which saw him amass a wealth of experience in work as a salesperson. He worked as a sales representative, pianist and a DJ at a local Oak Park radio station (Hall, 2003). Further, he also worked at a board in a restaurant, all in the hope of learning about business. His adventures in learning about business saw him later established the first business venture as a travelling milkshake machine sales person. The initial venture allowed him, making just five shakes at a time; hence, they were considerably efficient for his operations at the time. He worked at this venture for 17 years, amassing a wealth of experience in the business of franchise (Hall, 2003). What did he invent to become famous? Through his experience in the milkshake vending business, Kroc then got the idea of understanding the mechanics entailed in business operations. Consequently, he gained the base to venture in the famous invention he is remembered most for having. It is notable that McDonalds was a restaurant existent under the ownership of the McDonald brothers, based in San Bernardino, California (Mattern, 2011). The brothers owned multiple machine mixers to sale shakes to the population. Therefore, Ray Kroc, observing the venture he realized the potential of the McDonalds store and offered to work at the store as a franchising agent. Ultimately, his ambitions for the restaurant eclipsed over those of the owners, and he offered to buy the restaurant from the McDonald brothers. He bought the venture in 1961, where he assigned himself the role of the senior chairperson, a position he served in the venture until his death in 1984. He expanded the venture accordingly to include other fast food supplies and expanding into new markets a development that saw him establish 7500 stores in 31 countries and a net worth of $8 billion at the time of his death (Hall, 2003). What effect does that have on our lives today? McDonalds is a household name in the continuum of the restaurant franchise. The establishment has over 36000 local restaurants located in 100 different countries (Mattern, 2011). The chain of restaurants serves over 69 million combined populations of the locations it operates. Thus, observing from these facts, it is evident the advent of the McDonalds restaurant is the key to the society today. The establishment facilitates fast food services to the people giving them better healthy lives as they run through their daily activities. It is notable that with these expansive operations, employment opportunities are a key contribution to the society and local communities (Mattern, 2011). The restaurant has a policy that allows it to give priority to the local community members seeking employment. Thus, it is among the leading private employer in the U.S. as well as in the other countries where it has stores established. The chain of restaurants also is a leading economic figure in the country through the revenue it contributes to the government (Mattern, 2011). The chain of restaurant services is evidently significant to the community members it serves. It is a life changing business adventure for both those who get the opportunity to work on the premises, as well as those buying services from the restaurant (Mattern, 2011). Thus, the McDonalds franchise is an elemental contribution to the society today. Has it led to other inventions or research? The growth and expansion of the McDonalds franchise have seen several restaurants rising all with the same operation ambitions McDonalds. Thus, it is evident from the many chains of restaurant stores across the country are an inspiration of the McDonalds. The venture is accordingly serving as a benchmark for other restaurant inventions. References Fishman, C., & Sklar, A. (2006). The Wal-mart effect: How the worlds most powerful company really works--and how its transforming the American economy. Old Saybrook, CT: Tantor Media. Hall, M. (2003). Ray Kroc. Chicago, Ill: Heinemann Library. Mattern, J. (2011). Ray Kroc: McDonalds restaurants builder. Edina, Minn: ABDO Pub. Ortega, B. (2000). In Sam we trust: The untold story of Sam Walton and how Wal-Mart is devouring America. New York: Times Business Books. Read More