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Sam Walton becomes famous and wealthy because of his everyday” low-price strategy”. Walton understood that offering low prices and a wide selection of goods would attract customers, so he opened discount stores called Wal-Mart, which quickly became popular for their value.
Walton focused on small towns. While other retailers were expanding in big cities, Walton targeted smaller towns where there was less competition. This gave him a competitive edge and allowed him to build a network of stores across the country.
Walton believed in empowering his employees and giving them a stake in the company’s success. He encouraged them to make decisions and take ownership, fostering a strong company culture. He started this business at age 44.
Walton focused on small towns. While other retailers were expanding in big cities, Walton targeted smaller towns where there was less competition. This gave him a competitive edge and allowed him to build a network of stores across the country.
Walton believed in empowering his employees and giving them a stake in the company’s success. He encouraged them to make decisions and take ownership, fostering a strong company culture. He started this business at age 44.
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