Founder of Wal-Mart and Business Entrepreneur
Leadership?
Theories
Leadership
In 1945, Walton opened his first Ben Franklin variety store.[5] By 1962, both he and his brother, James Walton (�Bud�) owned sixteen of these stores which was by far �the largest chain of independently owned variety stores in the country�.[5] Discount retailing was actively practiced in the retail market. However, Walton felt stores could cut their margins by half and be just as successful, particularly in the smaller townships.[5] Walton�s franchiser thought otherwise. So in 1962, Walton opened his first Wal-Mart store using this concept and by 1985, he was known as the world�s richest man.[5]
Walton�s gift for entrepreneurship seemed to emerge from his ability to work hard. At age seven or eight, Walton sold magazine subscriptions.[1] To help the family, Walton would milk the family cow, bottle and sell the milk then he would sell newspapers.[2] His skill and talents earned him the nickname �Hustler Walton� during college.[5]
Leadership Style
When Walton became a millionaire, he still drove his old pick-up truck. He would even buy his clothes from his discount stores.[1] This unpretentious style enabled Walton to be a reachable leader. His credibility as a leading figure was cemented in his own success story. Walton represented �The American Dream�. He led by empowerment. He would entrust his associates with �serious responsibilities early on�[3] and �drove them to achieve more than they thought they could.�[4]
[2] Emmerson, K (2006). The Biography of Sam Walton, founder of Wal-Mart.
[3] Fishman, C. (2006). The Wal-Mart effect: how an out-of-town superstore became a superpower. Australia: Penguin Group.
[4] Kahl, J. (2004). Leading from the Heart: Choosing to Be a Servant Leader. United States: Greenleaf Book Group [excerpt]
[5] Vance, S.S. & Scott, R.V. (1992). Sam Walton and Wal-Mart stores inc: a study in modern southern entrepreneurship. Journal of Southern History, 58 (2) 231-252.
Image
Wimmer, M. (n.d.) Sam Walton.
