The organization which I have selected for my case study is none other than the well renowned group WALMART. America based Walmart Stores Inc is a chain of retail stores spread throughout the world. The chain of Walmart stores was founded by the owner Sam Walton in the year 1962. [1] Sam Walton began his career at a JC Penney store situated in Iowa in 1940 with a meagre monthly salary of $2.[2] The name Wal-Mart was suggested by Walton’s assistant, Bob Bogle [3]. The first discount store, Wal-Mart Discount City was opened on 2nd July, 1962 in Rogers, Arkansas [4]. In October, 1969, the company was incorporated as Wal-Mart Stores, Inc. In 1970 it became a public entity with stores at 38 locations and annual sales of $44.2 millions [4]. In 1972, it began trading as public company and got listed on the New York Stock Exchange [3]. The growth of Wal-Mart chain was rapid and steady during later years. By 1987, on its silver jubilee anniversary the chain had 1,198 stores with 200,000 associates and sales of more than $15 billion [5]. With passage of time Wal-Mart kept on progressing and adding achieving new milestones. It opened the first Sam’s Club in 1983 and the first Wal-Mart Supercenter in 1988 [6]. It introduced the concept of “Neighbourhood Market” in 1998 [7]. Meanwhile it kept expanding its business to foreign shores like South America and Europe; and taking over ASDA of United Kingdom [8]. Sam Walton died of bone cancer in April, 1992. After few initial hiccups Wal-Mart regained its strength and proceeded on its mission of expansion and customer service.
The purpose of this chain of stores can be best explained in the words of Sam Walton, “If we work together, we’ll lower the cost of living for everyone…we’ll give the world an opportunity to see what it’s like to save and have a better life.” [9]. When Sam opened the first store his only goal was to help people in saving money so that they could afford something extra from their savings. Irrespective of...