Walton believed that by giving employees a part of the company and making their success dependent on the companys success, they would care about the company.
By the 1980s, Wal-Mart had sales of over one billion dollars and over three hundred stores across North America. Wal-Marts unique decentralized distribution system, also Waltons idea, created the edge needed to further spur growth in the 1980s amidst growing complaints that the superstore was squelching smaller, traditional Mom and Pop stores. By 1991, Wal-Mart was the largest U.S. retailer with 1,700 stores. Walton remained active in managing the company, as president and CEO until 1988 and chairman until his death. He was awarded the Medal of Freedom shortly before his death.
Walton died in 1992, being the worlds second richest man, behind Bill Gates. He passed his company down to his three sons, daughter and wife. Wal-Mart Stores Incorporated is also in charge of Sams Club. Wal-Mart stores now operate in Mexico, Canada, Argentina, Brazil, South Korea, China and Puerto Rico. Sam Waltons visions were indeed successful.
In Waltons biography, Made in America : My Story he outlines what he feels are the ten commandments of business:
1.Commit to your goals
2. Share your rewards
3. Energize your colleagues
4. Communicate all you know
5. Value your associates
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