The Establishment of Walmart
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Please give a background on Walmart, including when Walmart was established.
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This solution explains the beginning, growth, and expansion of Walmart. The sources used are also included in the solution.
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In 1940, Sam Walton was franchising a Ben Franklin variety store. When he got deals from suppliers he passed on the lower prices to his customers. He earned his profits because the quantity he sold increased. This simple formula became the backbone of Wal-Mart when it was formed in 1962. Sam Walton was personally frugal. He was preoccupied with reducing costs. This was what he gave to the culture of Wal-Mart. On business trips he flew coach class and hotel rooms were shared. Walton was known to be strict about costs with his executives and with his cashiers. Essentially, he reduced the operational costs of ...
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