Management: Theory, Practice and Applications

Organizing function of Management
MGT 330:   Management:   Theory, Practice and Application
University of Phoenix
Professor Marie Powell
Stephanie Wooten
April 26, 2010


    Sam Walton was one of the famous American business leaders.   Sam Walton was the founder of the Wal-Mart and Sam’s Club, which are the two American retailers.   Sam Walton is one of the richest families in the world.   He was born March 29, 1918 in Kingfisher, Oklahoma.   His parents are Thomas and Nancy Walton.   He grew up on a farm until the year of 1923 when his family moved to Missouri.   After he graduate from high school he went to University of Missouri.   He studied economics at the University of Missouri (Sam Walton’s Biography).   After graduating from the University of Missouri went to work at DuPoint munitions plant in Oklahoma where he met his wife Helen Robinson and they were married on February 14, 1943 (Sam Walton’s Biography).   Sam Walton joined the military in the United States Intelligence Corps, which he was the supervisor of security (Sam Walton’s Biography).   In 1945, Sam Walton left the military and had the vision of opening a department store.   Sam receives a loan of $20,000 from his father-in-law and uses his $5,000 in his savings account to open a Ben Franklin Variety Store (Sam Walton’s Biography).     He brought Ben Franklin Variety store from the Butler Brothers franchise of Newport, Arkansas   (Sam Walton’s Biography).   Sam Walton’s lease on the building went up and he was forced to sell the company because the landlord wanted the store for his son (Sam Walton’s Biography).   He sold the store to the landlord P.K. Holmes for $50,000 (Sam Walton’s Biography).   Sam Walton went to Bentonville, Arkansas as another Ben Franklin franchise but he change the name to Walton’s Five and Dime (Sam Walton’s Biography).   In 1952, he opened another Five and Dime store in Fayetteville, Arkansas that became a successful store.   Walton and his brother Bud had...