The Success Of Sam Walton - 1196 Words

We also have leaders that have not been called born leaders per say, yet they have created industrial empires, and have gathered millions of followers for the way they have conducted business throughout their time, leaders such as Sam Walton founder of Wal-Mart. After reading quite a bit about the life, upbringing, decision making and success of Sam Walton, I came to the realization that he had made himself a leader. The general consensus among those who had ever been in contact with Sam had the same words of gratitude, astonishment and admiration towards him, â€Å"He was an excellent businessman, and there is no doubt about that. He had a lot of his success because of the way he was able to treat the people around him and that he was able to make every single associate in that store that he met with feel like he was their friend as well as their boss. He did a lot for the associates; he tried to make things better. You were working for a man that you knew appreciated you.† Wal-Mart was successful due to the leadership of its founder. Many people attempted to describe the composition of this individual, â€Å"he was hardwired to be honest, competitive, courageous, caring, hardworking, frugal, driven, disciplined, curious, humble, stubborn, decisive, and ambitious, as well as street smart, team-oriented, a people developer, a tight-fisted negotiator, great communicator, teacher and aggressive competitor.† When comparing those traits (Sam Walton’s) to the Marine Corps LeadershipShow MoreRelatedThe Success Of Sam Walton1702 Words   |  7 PagesSam Walton graduated from the University of Missouri in Columbia with a degree in economics in 1940 (Biography.com Editors, n.d.). He entered the retail business in 1944 in Newport, Arkansas as the owner of a franchise store called Ben Franklin (Shenron, 2009). Six years later Walton relocated the store to the town square of Bentonville, Arkansas and renamed it Walton’s Five and Dime. By 1962, Walton’s innovational management style empowered him to open a second store just seven miles down theRead MoreMr. Sam Walton s Success903 Words   |  4 PagesMr. Sam Walton was born in Kingfisher, Oklahoma in 1918. Walton went to the military in 1942 at the age of 24 and he ended is service in the military in 1945. At this time Walton moved to Newport, Arkansas. In 1950, the Walton’s moved to Bentonville, Arkansas which is where Walton opened his first retail store â€Å"Walton’s 510† (Our History, 2015). The dime store made Walton some money and he wanted to bring better opportunity and value to his customers so he opened Walmart in 1962 in Rogers, ArkansasRead MoreSam Walton, Made in America, My Story Essay1336 Words   |  6 PagesSam Walton was known to be industrious, always trying to get the most out of money, and had a burning ambition to succeed. This was evident in his book Sam Walton, Made in America, My Story. He was a hard working individual who helped his family through the depression, started his own business from almost nothing and changed the field of management for ever. Sam Walton was born in 1918 in Kingfisher, Oklahoma during the Great Depression. Sam obtained his work ethic from his father Thomas GibsonRead MoreSam Walton, Made in America, My Story Essay1332 Words   |  6 PagesSam Walton was known to be industrious, always trying to get the most out of money, and had a burning ambition to succeed. This was evident in his book Sam Walton, Made in America, My Story. He was a hard working individual who helped his family through the depression, started his own business from almost nothing and changed the field of management for ever. Sam Walton was born in 1918 in Kingfisher, Oklahoma during the Great Depression. Sam obtained his work ethic from his father Thomas GibsonRead MorePhl/458 Famous Thinkers Essay1060 Words   |  5 Pagesto discounted variety stores there are not many stores that compare to Wal-Mart. The founder and former chairman of Wal-Mart Stores Inc., the world’s largest retailer, is Sam Walton. The innovative thinking of Bill Gates and Sam Walton has changed the business world. With Bill Gates’ contributions to computer technology and Sam Walton’s contribution to the retail industry there is no question why their companies are worth billions of dollars today. William (Bill) H. Gates III was born OctoberRead MoreThere are famous thinkers that have little in common with what makes them strive to achievement1100 Words   |  5 Pagescreative ideas in which create a secure foundation for the creative process. Several of these ideas circle around finding a solution to a problem, or changing the way people think about upcoming issues. There are two particular famous thinkers: Sam Walton and Bill Gates., both of these men were able to use the creative process to alter the way people observed the issues of the day. They each made precise contributions to society during difficult times. Bill Gates (William Henry Gates III) WilliamRead MoreAnalysis Of The Poem The American Dream 1071 Words   |  5 Pageswhat you love. So my idea is supported by connecting to Sam Walton and Jay –Z profiles/interviews. The interview says no matter how hard you had it growing up, you can still conquer anything if you work hard enough and put your mind to it. This is the same as the visual image of the homeless person in the trunk this, tells the reader you can come from nothing and build and work towards your dreams and goals. My thesis is Jay –Z and Sam Walton has different views on what the American Dream is. Read MoreThe Case Of Wal Mart1119 Words   |  5 Pagesstart out that way. With a dream, determination, leadership, and some sweat, Sam Walton, made a small mom and pop store into the multibillion dollar company it is today. On March 29, 1918, Samuel Moore Walton was born to Thomas and Nancy Walton of Kingfisher, Oklahoma. As a young boy Walton and his family moved locations and found themselves living in the small town of Columbia, Missouri. Growing up, Walton excelled at school, making the top grades of his class. He was also known forRead MoreThe Logic Behind Discount Retailing936 Words   |  4 Pages Sam Walton came from humble beginnings in Arkansas, the high school star quarter back which after graduating from College, got his first retail job at J.C. Penney’s. After serving in the Army from 1942-45, Sam borrowed $25,000 from his father in law and purchased his first local Ben Franklin Variety Store (6), many more soon followed. Sam did rather well with the variety stores. He figured out a concept of buying in bulk and passing that savings on to his customers. Eventually Sam determined thatRead MoreWal Mart : The Biggest Retailer Of The World955 Words   |  4 Pagesthe help o f P.T. Barnum, and Billy Graham, Sam Walton accomplished to get Wal-Mart to be the biggest retailer in the world, transforming the way America shopped and making himself one of the world s richest men in the process. Walton started his lifelong career in the retail business in the year of 1940, when he took a job as a sales trainee at a J.C. Penney store in Des Moines, Iowa. He was never one of Penney s most thorough employees, however, Walton never failed to be enthusiastic about his

How Does The Word Relationship Someone Has With An Object...

The word relationship can be used in multiple ways, that all mean the same thing. Relationships can be two people who have feelings for each other be together, however it could also mean the relationship someone has with an object like a car. In both cases it is hard for one to be without the other, if someone is in a relationship with another person they will want to be with them and they will always be on their mind. With a car, the person will always be thinking and caring for the car as much as they would if they were in a relationship with another human. As one can see, they both can be used to describe different aspects of what one can care for. It will be interesting to see the results of the survey to see what other people tend to use the word for and how they think about the word as a whole. Seeing how people use the word and define it though a survey will be a great way to see how a group of individuals define the term. A mutual bond between, for example a human, or an inan imate can really bring out the person in us. The Oxford English Dictionary gives two examples that tend to mean the same thing however worded differently. One way the dictionary described a relationship is â€Å"The state or fact of being related; the way in which two things are connected; a connection, an association.† Which is entirely true, it doesn’t have to be about people, it can be about cells, buildings, anything really. Another definition that would be more popular and used moreShow MoreRelatedObsessive Compulsive Disorder ( Ocd )1679 Words   |  7 Pagesimpulse that the client attempts to avoid as completely as someone with a snake phobia avoids snakes† (as cited in Barlow, Durand Hofman, 2017). These avoidance behaviors are not easily controlled, persistent, and often very time consuming. In some cases, these thoughts and behaviors impact the person s life a great deal, and makes it hard for the person to go about daily activities. This can sometime s cause tension in every relationship in their life. Furthermore, OCD is also highly comorbid withRead MoreUnrealistic Expectations: Gender Roles Effects of Society1414 Words   |  6 Pagesfor gender equality and although gender roles are a social norm in all societies, BMW ads exploit gender roles because they portray women as objects of desire and redefine the living standards. Gender roles are a set of social and behavioral norms that are generally considered appropriate for either a man or a woman in a social or interpersonal relationship. The best-known example of gender roles in our society is that women take care of the house and children while men gravitate towards the workforceRead More Reciprocity In All Its Forms Essay1266 Words   |  6 PagesReciprocity In All Its Forms Reciprocity is symbolic of creating, maintaining, or strengthening social relationships as well as satisfying the material needs and wants of someone in need. It refers to the exchange of objects without the use of money or other media of exchange. It can take the form of sharing, hospitality, gifts, or bartering. Anthropologists identify three forms of reciprocity. One form is generalized reciprocity, which is the giving of goods without expectation of a returnRead MoreEssay on Labor and Alienation1718 Words   |  7 Pagesâ€Å"Political economy conceals the estrangement inherent in the nature of labor by not considering the direct relationship between the worker (labor) and production† (Pg. 30). According to Marx, human nature is neither fixed nor transcendent; instead, it is alterable and embedded in the productivity of everyday life. The only fixed attribute that we have is our openness. We are different from other animal species in the sense that we are able to adapt to different natural environments by creating aRead More empiricism Essay1554 Words   |  7 Pages Empiricism Empiricism by nature is the belief that there is no knowledge without experience. How can one know what something tastes like if they have never tasted it? For example, would someone know that an apple is red if they have never actually have seen one. Someone can tell you an apple is red, but, if you never have seen one, can you really be sure? Empiricists use three anchor points in which they derive their opinions from. The first of these points is; the only source of genuine knowledgeRead MoreEssay about Richie Parker869 Words   |  4 PagesHowever someone like Richie Parker has devoted his life to overcoming these simple no brain obstacles among others in order to live a normal successful life. Richie Parker is an engineer for Hendrick Motorsports which is one of NASCAR’s leading organizations. Richie is a well-respected and talented engineer of the object he loves the most, automobiles, fast ones. Richie, I can imagine starts his day off like the average person. Wakes up, takes the daily shower, gets dressed for the day, has some breakfastRead MoreEmpiricism and Experience1575 Words   |  7 PagesEmpiricism Empiricism by nature is the belief that there is no knowledge without experience. How can one know what something tastes like if they have never tasted it? For example, would someone know that an apple is red if they have never actually have seen one. Someone can tell you an apple is red, but, if you never have seen one, can you really be sure? Empiricists use three anchor points in which they derive their opinions from. The first of these points is; the only source of genuine knowledgeRead MoreHow Destruction Is Used As A Form Of Creation Everyday1565 Words   |  7 Pageswestern society and how we value it on a personal level. ‘change is a natural and organic process, one that is inherent with being human and of this world. Within this context, the change a person personally experiences is meaningful.’ (Russell and Russell, p16). Change is fundamental to our universe. Everything in the physical world is either growing or deteriorating and our human condition could perhaps be said to be a constant process of slowing down or speeding up, in other words taking control overRead MoreMedia s Portrayal Of Women1588 Words   |  7 Pagessexual beings. They show that they are only good for taking care of the home and the man is very powerful. For example, the author on the presentation shows a ad that a man is in a life guard outfit with him having muscles which portrays him to look like a hero. On the other side there is a picture of a woman who looks stressed with babies all around her crying with both her hands full. One side she is holding a math test with a F on it and the other side is holding a pot full of baby bottles (Khan)Read MoreThe Goal Of Any Philosopher1559 Words   |  7 Pagesthing that has real meaning life. Truth is essential to understanding the world. All knowledge is based upon truth. The Idea of truth is first and for most a conviction of the mind. The mind has an inclination to view something to be true, false; we are convicted to believe one or the other. For example, if one were holding a model car that appears to be red, you can be convinced it is red; you can also be convinced it is red, dark red, pink, or even burgundy. One’s mind can perceive the car in different

Energetics IB SL Free Essays

A reaction In which energy Is absorbed. If your reactants are at a lower energy level than your products then the reaction Is endothermic this means It has a AHA Exothermic: A reaction in which energy is released. If your reactants are at a higher e energy level than your products then the reaction is exothermic this means it has a Standard Enthalpy ( HA) The internal energy stored in the reactants. We will write a custom essay sample on Energetics IB SL or any similar topic only for you Order Now Only changes in enthalpy can be measured. When some solid barium hydroxide and solid ammonium tessellate were reacted together, the temperature of the surroundings was observed to decrease from 15 co t o- 4 co. What can be deduced from this observation? A. The reaction is exothermic and AH is negative. B. The reaction is exothermic and AH is positive. C. The reaction is endothermic and AH is negative. D. The reaction is endothermic and AH is positive. How to cite Energetics IB SL, Papers

Consumption-Led Growth Strategy of China - Get a Sample Solution

Question: Describe about consumption-Led growth strategy of China? Answer: Transformation From Investment-Led Growth To Consumption-Led Growth Strategy In Chinese Economy China is the nation which was able to transform its economy from an isolated nation to a nation that is opened to the world on a global basis. The famous Chinese revolutionist Deng Xiaping took initiatives to improve the trade relations between China and all other nations. It is then that the relevance of foreign trade was felt by the country. Deng Xiaping, also helped the economy of China by attracting relevant foreign investors. The interest of the foreign investors in the economy of China was the advantage of low cost production that dwelled within China. Thus, this step by China enhanced the chances of the growth in the country which was export and investment led growth. The investment and export led growth was possible only with commitments made by the government to initiate capital investment and bring technological advancement. But it was not too late that China finally realized that the investment and export led growth strategy was unsustainable and the economy slowed down. T he GDP of the country dropped to 7.5% and the share of consumption in the GDP of the China also declined. This led to a situation where the government of China decided to switch over the growth strategy from investment and growth based to consumption based growth. (Poon, 2014) For the last two decades, China was dedicatedly investing in the infrastructure and capital formation which made the country the exporting house of the entire world. The growth in China is dependent on the production unit and factories of the other nations which are believed to be of low cost. The low cost benefit of China enables the congregation of a lot of nations in this country thereby attracting a lot of investments within the economy. (Xu, 2010) The increased in the economic growth of China uplifted the global position of China. The higher dependence of China on its export resulted in a situation of low wage which declined the consumption spending of the Chinese citizens. The GDP growth in China has declined and the share of consumption in the GDP is stands out to be just 35% as against the US economy which is about 70%.(Sector, 2015) This situation led to the introduction of a new sustainable strategy which will enhance growth. The reason of the low consumption share cannot w holly be attributed to the change in the industrial phase but also other several factors that affect the economy of China. The factors that led Chinese economy to swap towards a more sustainable and reliable growth strategy are the problems related to the capital equipments being underutilized, environmental sustainability issues, increasing inequality, migrat5ed labour forces being exploited, problems of unemployment and several other issues concerning the health of the Chinese economy. Many economists were of the opinion that the investment and export led growth is not sustainable in the long run and there should be a structural change in the growth strategy of China towards domestic market consumption expenditure. (Chi, 2012) Thus, I agree to decision taken by the government of Chinese to switch over to consumption led growth strategy. The share of the consumption spending being low in China, its effectiveness is increased by numerous structural factors. The reasons that are identified behind the decision of china to change from an investment growth to a consumption based growth are multidimensional. One of the main reasons is prevalence of underdevelopment in the capital market. Without the operation of effective capital and efficient allocation of capital, no growth can be initiated in the economy. If the capital market is underdeveloped then investment will not take place which caused a hindrance to the growth of China. The next factor that hinders the investment led growth is the availability of credit. Consumer credit is an important aspect that will enhance the consumption spending of the individuals but with the low availability of such credit, the people are not able to increase their consumption spending. Unemployment in this regard also plays a very crucial role. With rising unemployment, disposable incom e of the people will decrease and they would not be able to make purchases lowering the rate of consumption. Another way to explain the low consumption share is that China has witnessed a high savings rate directed towards the old age citizens and children for their education and also for precautionary reasons. (Du, Fang Jin, 2014) Thus, an immediate policy was required by the Chinese government to implement strategies which would reduce the savings rate, increase the household income and thereby expand the consumer spending. An emphasis must be made on the reforms that must be brought in the financial sector which eventually smoothed the capital operation within the economy. Hence, China took the decision to adopt the consumption oriented growth strategy in order to increase the consumption share in its GDP. (Fulin, 2012) Costs And Benefits Analysis Of Chinas Consumption-Led Growth Strategy The benefits associated with the new transformed growth strategy are several. But the government of China took steps to decrease the rate of savings by extending easy and smooth availability and access to consumer credit, increased the expenditure of the government towards the development of the economy along with incorporation of social protection. (Campbell Brown, 2007) Government also reformed the HOKOU which is a social welfare scheme where fair distribution of education, healthcare services and generation of employment are included. This benefits the interest of the citizens and reduced the savings rate. The unemployed youths was shifted to the service sector which created employment and increased the disposable income, thereby increasing the consumer spending. The service sector in China is believed to offer high pay and since it is a labour intensive industry, labour force is absorbed on a huge scale. Another way to stimulate the consumption share is by reforming the financia l sector by smooth availability of credit to the consumers as well as the SME which will eventually generate jobs and increase the consumer spending. The overall benefit that is acquired from the adoption of the consumption-led growth strategy is by maintaining a sustainable growth which is characterized to be long term and stable. (Lardy,n.d.)This can be explained by the Production Possibility Frontier (PPF). Here X1 and X2 are two goods in the Chinese economy. Before growth, an individual was at the PPF1 and was able to attain the point A which is the combination of X1 X2 but could not attain the point B which is comprised of increased quantity of X1 X2. Now as the Chinese Economy witnessed growth, the PPF shifted outward to PPF2 which caused the individual now to attain the previously unattainable point B. Thus, it is clear that with growth the consumption spending has increased. (Arnold, 2001) The cost associated with the new transformed consumption-led growth strategy is that it doubted the issues related to environmental sustainability. This is because with the development of the heavy scale industries like the iron and steel, manufacturing sector, cement tend to exert pressure on the natural resources and causes them to deplete. With the rapid urbanization and the advent of energy based industries the greenhouse gas emission also increased which adversely affect the lives of the human beings. Another drawback of this strategy is that China is no doubt the second largest economy among all other nations but in terms of average income it lags behind which aggravated the inequality in the country. With the adoption of consumption-led growth strategy, a serious threat is posed by the inefficient investment and the increase in the debt which can hinder the economic growth of the Chinese economy. (Lee, Syed Xueyan, 2013) References Chi, F. (2012).Consumption-led growth. [Beijing?]: China Intercontinental Press. Du, J., Fang, H., Jin, X. (2014). The growth-first strategy and the imbalance between consumption and investment in China.China Economic Review,31, 441-458. doi:10.1016/j.chieco.2014.09.002 Fulin, C. (2012).Consumption to lead growth_Publications_China Institute for Reform and Development(CIRD).Chinareform.org. Retrieved 18 March 2015, from https://www.chinareform.org/publications/reports/201202/t20120228_135281.htm Lardy, N. China: Toward a Consumption-Driven Growth Path.SSRN Journal. doi:10.2139/ssrn.2126152 Lee, I., Syed, M., Xueyan, L. (2013).Chinas Path to Consumer-Based Growth: Reorienting Investment and Enhancing Efficiency.https://www.imf.org. Retrieved 18 March 2015, from https://www.imf.org/external/pubs/ft/wp/2013/wp1383.pdf Poon, D. (2014).Chinas Development Trajectory: A Strategic Opening for Industrial Policy in the South(1st ed.). UNCTAD. Retrieved from https://unctad.org/en/PublicationsLibrary/osgdp20144_en.pdf Sector, E. (2015).Chinas Shift to a Consumption-Driven Economy | Cornell Current.Cornellcurrent.com. Retrieved 18 March 2015, from https://www.cornellcurrent.com/2014/11/12/chinas-shift-to-a-consumption-driven-economy/ Xu, Y. (2010). China's Export-led Growth Strategy: An International Comparison.China World Economy,18(4), 18-33. doi:10.1111/j.1749-124x.2010.01202.x Arnold, R. (2001).Economics. Cincinnati, Ohio: South-Western College Pub. Campbell, H., Brown, R. (2007).Benefit-cost analysis. Cambridge: Cambridge Univ. Press.