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The Key to Wal-Mart's Success
The Key to Wal-Mart's Success
The Key to Wal-Mart's Success
In 1962, San Walton founded Wal-Mart in Roger, Arkansas. "As in all things, in our people practices, we take to heart our core belief to strive for excellence. That means constantly looking for ways to improve, whether it's connecting executive compensation to diversity goals or improving the supplier application process. Improving these vital relationships is key to a better Wal-Mart and a better world" (People, n.d., ¶2).
The key to Wal-Marts success can be attributed by the way management evaluates performance through motivation, ethics, and conflict management.
Applying Motivational Principles
Sam Walton had a vision for building a business and four decades later Sam's vision became a successful reality. Wal-Mart's associates have enabled the organization to become the largest retailer in the world consisting of "2,700 Wal-Mart stores, 495 SAM's Clubs and 1,150 international stores currently in operation" (Divisions, n.d., ¶1). Sam's dream of a global retailer also became a reality by meeting the needs of customer's worldwide. The secret to the Sam Walton's success is attributed to the rules and principles that are used to run the organization. Sam Walton used 10 motivational principles or otherwise known as Sam's Rules for Building a Business. The rules have helped the organization focus on the principles used for four decades and are factors of the company's success. The following 10 rules are how applied motivational principles lead to the successfulness of Wal-Mart and the other Walton properties.
"Rule one is committing to your business" (Sam's Rules for Building a Business, ...