Abstract In this paper you will be reading about how Sam Walton, a man from humble beginnings created the greatest retail store the world has seen. You will learn about his methods of business and the keys to success. Also about how Walmart manages the Triple Bottom Line and some improvements they need. Lastly, Target and Walmart will be compared and you will see which company I in fact think is running their business in a more sustainable and efficient way.
Walmart has evolved into the most successful retailing outfit the world has ever seen. Sam Walton built this magnificent enterprise with his moral compass that citizens deserve the lowest prices, best quality items and even better service. Throughout Sam’s life he struggled with making money and truly understood the importance of the dollar. He worked hard at a very young age to earn money and expand his knowledge in the business field. As a child Sam was blessed with ambition, and had the drive to achieve anything with his work mentality. As Sam got into the business world and started running and managing small businesses he adapted to his surroundings. Most importantly by making that first step in technological advances as well as going to other stores and simply talking to employees, or customers. He found out what people liked and what they disliked, how important happy employees are to a successful business, and the secrets to selling cheap merchandise. All his qualities and brilliant business ideas are exactly why Walmart flourished, and are still on the rise today. "A lot of what goes on these days with high-flying companies and these overpaid CEO's, who're really just looting from the top and aren't watching out for anybody but themselves, really upsets. me. It's one of the main things wrong with American business today." (Walton, 12) This quote perfectly represents why Walmart has and is still such a popular choice for consumers worldwide. The principal of putting your customers before yourself is such a small task, yet so little businesses or corporations are run that way. From the start Sam knew that if customers are happy and have a pleasant time at your store buying products, they will always return. Walmart purposely puts a main emphasis on the “people” aspect of the Tripple Bottom Line because it is just as important as having low prices or quality eco-friendly products. Today Walmart follows these same guidelines to ensure shoppers happiness. That is why from the start Walmart guarantees that everyone in the stores be treated with equal respect and gratitude. This aspect of “people” runs deeper than just the customers. "We're constantly doing crazy things to capture the attention of our folks and lead them to think up surprises on their own. We like to see them do wild things in the store that are fun for the customers and fun for the associates. If you're committed to the Wal-Mart partnership and its core values, the culture encourages you to think up all sorts of ideas that break the mold and fight monotony." (Walton, 203) Every weekend Sam used to meet up and hangout with his employees to discuss new store ideas or just ways workers can enjoy themselves in the work place. Today Walmart still has company outings and participate in activities to bring communities around the store closer together. For example, Walmart associates volunteered over 1 million hours of their time to service last year. From activities such as building houses to reading with under privileged children (“Walmart” n.d.). Just as the tradition Sam and his family set years before that when they would set up education venues. Sam believed education was the most important thing. “And our family’s gift reflects a wide variety of interests, spread across numerous organizations with a heavy emphasis on education.”