a b c Walton, Sam; John Huey (1992). Made in America: My Story. New York: Doubleday. ISBN 0-385-42615-1.

He is less afraid of being wrong than anyone I’ve ever known. And once he sees he’s wrong, he just shakes it off and heads in another direction. Hiring Efficiency is further explored in Chapter 15, in which Walton describes the business philosophy he used to guide Walmart’s growth. By controlling his expenses better than his competitors, thus creating a more efficient operation, he was able to establish and maintain an edge on his competition. Attitude of Sam to his subordinates and the corporate culture of support in he company, i.e. if he discovered that there is a manager in the company who is not communicative to his team, the one would be dismissed shortly... The two most important words I ever wrote were on that first Wal-Mart sign: “Satisfaction Guaranteed.” They’re still up there, and they have made all the difference.”When it comes to business, however, he has always been inclined to reject the system. Change is an integral part of his philosophy. Sam Walton encourages his people to care about Walmart by sharing the success. Early store managers, company executives and even regular employees are rewarded when Walmart does well. Conclusion Learn from your competitors: Sam Walton believed in studying his competitors and learning from their successes and failures. He was always looking for ways to improve his business and to stay ahead of the competition. Author John Huey says that the years have passed and the business has narrowed. Companies that did not meet their customers' needs and that had not built strong organizations began to close their doors.

HELEN WALTON: “Sam, we’ve been married two years and we’ve moved sixteen times. Now, I’ll go with you any place you want so long as you don’t ask me to live in a big city. Ten thousand people is enough for me.” So any town with a population over 10,000 was off-limits to the Waltons. If you know anything at all about the initial small-town strategy that got Wal-Mart going almost two decades later, you can see that this pretty much set the course for what was to come. She also said no partnerships; they were too risky. Her family had seen some partnerships go sour, and she was dead-set in the notion that the only way to go was to work for yourself.” This is a summary review of Sam Walton: Made in America containing key details about the book. What is Sam Walton: Made in America About? Go 1.5x speed or faster. Do you usually listen to audiobooks or podcasts at a faster speed. We've got that feature, too. Walmart is a great example of what happens when thousands of people come together as a group, with an authentic feeling of society, and are able to put individual needs after the needs of their team. As an old-time small-town merchant, I can tell you that nobody has more love for the heyday of the smalltown retailing era than I do. That’s one of the reasons we chose to put our little Wal-Mart museum on the square in Bentonville. It’s in the old Walton’s Five and Dime building, and it tries to capture a little bit of the old dime store feel. But I can also tell you this: if we had gotten smug about our early success, and said, “Well, we’re the best merchant in town,” and just kept doing everything exactly the way we were doing it, somebody else would have come along and given our customers what they wanted, and we would be out of business today.”Chapter 4 talks about adding a bit of anarchy to business. Shaking up the status quo and ignoring conventional wisdom is a big theme in Walton’s book; he understood that innovation is crucial to finding a profitable niche. Larger-format stores and a generous return policy were two inspired ideas that proved especially lucrative for Walmart. Walton’s business values and principles are succinctly described in Chapter 17, where he shares his 10 rules to build a successful business. These rules form the core of Walton’s business philosophy, and they are reflected in many of the book’s earlier chapters. The rules are: It would be easy to discount this book as irrelevant for many for the younger generation, or for many tech entrepreneurs.