A BOOK REVIEW

By :

Sunny Dwivedi 10

Jagdish Jain 15

Vihang Joshi 16

Sachita Kakadia 18

Komal Parekh 29

Mayank Rathod 36

O n

WHO IS THE REAL SAM WALTON???

• Samuel Moore Walton (Mar 29,1918 - April 6,1992).

• Founder of Wal-mart.

• Declared “ richest man in America” in October 1985 by

Forbes.

• Born in 1918 in Kingfisher, Oklahoma during the Great

Depression.

• To Value A Dollar

• Sam Walton’s First Job

• Wal-Mart's Philosophy

• Bouncing Back

• First Wal-Mart

• Raising A Family

• Going Public

KEY CONCEPTS

TO VALUE A DOLLAR

• Sam Walton’s father Thomas Walton was a hardworker

and loved to trade.

• He learned from early age to help provide for the home.

• Started selling magazines, subscriptions and also had

paper routes from very young age.

• Sam always set extremely high personal goals.

• Since high school he paid for all his expenses.

HIS FIRST JOB

• Sam joined J.C. PENNEY a retailing company as a management trainee.

• There watching store manager he got excited about retailing.

• He married Helen in 1943 while still on commission.

WAL-MARTS PHILOSOPHY

• In his store he would buy an item for 80 cents, priced it to sell

at 1$ and sell 3 times more of it than pricing it at 1.20$.

• The overall profit was much greater.

• By cutting the price it boosted the sales to a point where it

earned far more at cheaper retail price than it would have by

selling the item at higher price.

BOUNCING BACK

• Due to lease contract he had to sell his store and move.

• It lead him to bigger and better things.

• Sam moved with his family to Bentonville, Arkansas to open

self service Five & Dime store which at that time was a new

concept.

• He expanded it very rapidly and opened many variety stores

but, a new concept of discount stores came into existence and

sam immediately sensed that disount-idea was the future.

FIRST WAL-MART

• He built a store in Rogers, Arkansas.

• Nobody wanted to gamble on it so Sam had to put up 95%.

• Sam always checked on competition and always went around

with his yellow pad to note down any new idea.

• He always used to promote items very innovatively.

RAISING A FAMILY

• Sam and Helene had four kids: 3 boys and a girl.

• Helene always insisted on living in a small town so that they could raise their children with same values they have been exposed to.

• All four worked for Wal-Mart from young age and even invested in it over years.

GOING PUBLIC

• Due to rapid expansion, sam accrued a huge debt.

• To get relieved he went public.• Over the years even though many has written

them off, Wal-Mart stock did very well.

"Sam Walton understood people the way Thomas Edison understood innovation and Henry Ford, production. He brought out the very best in his employees, gave his very best to his customers, and taught something of value to everyone he touched." – Jack Welch

COMPANY ON THE SAME PATH

SAM WALTON OF INDIA

MR. KISHORE BIYANI

GRAB UP’S FOR INDIAN COMPANIES

• Work Around Your Weaknesses

• Build on Your Strengths

• Learn by Doing

• Get Formal Education

• Learn From Books and

Publications

• Learn from Company Training

Classes

• Learn from Your Competition

• Learn from Your Workers

• Learn from Your Mistakes

• Travel Far and Wide for

Great Ideas

• Develop an Idea-Driven

Culture

• Don’t Worry Who Gets the

Credit

CRITIQUE

• Sam's story in Sam's words.

• Writing not always up to par.

• Sam Walton says, he didn't believe in giving "any undeserving

stranger a free ride."

• "We feel very strongly," he wrote, "that Wal-Mart really is

not, and should not be, in the charity business."

• The facts about the company; The business lessons

CRITIQUE (CONT….)

• The history of the company, “he writes, provides ample

evidence that Wal-Mart, like any other corporation is nearly a

machine, an amoral construct with one imperative: the profit

motive. That pursuing that motive to the utmst may have a

corrosive effect on communities or individuals—including

people within the corporation—never enters into the

equation.

WHY MUST YOU READ IT ???

• Strong story about a man and how he did business.

• This book contains a valuable example of how capitalism

forces the evolution - for better or worse - of industries.

Walton takes the reader from the days of the small-town

five and dime all the way through the mega Wal Mart of

today. It's a valuable read for anyone interested in

business.

WHY MUST YOU READ IT ???(Cont…)

• Reading "Made in America" provides the reader with some

important context for considering all of the attacks on Wal

Mart in the popular press.

• Highly recommended for those who would like to understand

the motivations behind Wal Mart being what it is today and a

great business story to boot.

What Can Be The Sequel For The Next Book???

• According to me the Sequel can be “WALMART TAKES OVER

THE WORLD”

• As WALMART is situated in countries like:

CANADA

UNITED STATES

MEXICO

ARGENTINA

BRAZIL