The founder of the Wal-Mart chain, Sam Walton was born in March 1918 in the town of Kingfisher, Oklahoma. Graduating from the University of Missouri, Sam enlisted in the Army for the World War II effort. Upon his return, Sam worked for a while at the J.C. Penney group of stores. He began to realize that opportunities existed in the large scale discount retailing business (nickel and dime stores). The idea and business philosophy of Wal-Mart borrowed from the nickel and dime stores of earlier times, and consisted of getting National Brands in bulk at a discount based on volume purchases; the company would then stamp its mark and resell the goods at a slight markup, this rate being however less than the other competing Mom and Pop stores across the USA. This philosophy was so successful that it has eventually led to Wal-Mart's becoming the single largest private employer across the USA.
Sam Walton opened his first Wal-Mart store in 1962 in Arkansas, specializing in name-brands at......
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