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Most Respected Entrepreneurs Globally
By siliconindia
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Sam Walton
Samuel Moore Walton was a businessman and entrepreneur who founded the retailers Wal-Mart. Walton opened the first true Wal-Mart in July 1962 which was called the Wal-Mart Discount City store. He had a very persuasive way of attracting his customers by ensuring that the shelves were consistently stocked with a wide range of goods. This concept proved to be crucial to his success. Walton even offered his managers the opportunity to become limited partners if they would invest in the store they oversaw. This motivated the managers to always try to maximize profits and improve their managerial skills.
Walton launched a determined effort to market American-made products. He found few American manufacturers who could supply merchandise for the entire Wal-Mart chain at a price low enough to meet the foreign competition. Walton pioneered the concept of self-service and championed hypermarts. He builds 452 new stores before he took retirement for two years and made his comeback with building 1,237 new stores. Wal-Mart overtook Sears and became the biggest retailer in the U.S.
