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Sam Walton: Made In America, by Sam Walton
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Meet a genuine American folk hero cut from the homespun cloth of America's heartland: Sam Walton, who parlayed a single dime store in a hardscrabble cotton town into Wal-Mart, the largest retailer in the world.��The undisputed merchant king of the late twentieth century, Sam never lost the common touch.��Here, finally, inimitable words.��Genuinely modest, but always sure if his ambitions and achievements.��Sam shares his thinking in a candid, straight-from-the-shoulder style.
In a story rich with anecdotes and the "rules of the road" of both Main Street and Wall Street, Sam Walton chronicles the inspiration, heart, and optimism that propelled him to lasso the American Dream.
- Sales Rank: #35993 in eBooks
- Published on: 2012-09-12
- Released on: 2012-09-12
- Format: Kindle eBook
From Library Journal
The late Sam Walton was one of the shrewdest and richest merchants in America. Centered on the building of his Wal-Mart empire, his book, like fellow magnate Sandra Kurtzig's CEO: Building a $400 Million Company from Ground Up ( LJ 5/1/91), is light on biography. However, readers will enjoy the folksy narrative of the small-town millionaire who revolutionized retail distribution. Walton also addresses accusations against him, such as running the competition out of town. Coauthor Huey does a fine job of incorporating candid testimonials from family members and associates, who thought Walton's ideas were sometimes silly. Shortly after Walton's death, the book was given an overly sentimental postscript (a minor detraction) and rushed into print. Highly recommended for public and academic business collections.
- Rebecca A. Smith, Harvard Business Sch. Lib.
Copyright 1992 Reed Business Information, Inc.
Review
"[A] wise and inspiring autobiography--Walton tells his quietly fantastic story with conviction and makes no bones about his mistakes."
-- San Francisco Chronicle
"It's a story about entrepreneurship, and risk, and hard work, and knowing where you want to go and being willing to do what it takes to get there.��And it's a story about believing in your idea even when maybe some other folks don't, and about sticking to your guns."
-- Sam Walton
"Here is an extraordinary success story about a man whose empire was built not with smoke and mirrors, but with good old-fashioned elbow grease."
-- Detroit Free Press
"A sure-fire all-American success story."
-- The New York Times Book Review
From the Publisher
"Wise and inspiring autobiography... Walton tells his quietly fantastic story with conviction and makes no bones about his mistakes." -- San Francisco Chronicle. It's a story about entrepreneur, and risk, and hard work, and knowing where you want to go and being willing to do what it takes to get there. And it's a story about believing in your idea even when maybe some other folks don't, and about sticking to your guns. Sam Walton. Meet a genuine American folk hero cut from the homespun cloth of America's heartland: Sam Walton, who turned a single dime store in a hardscrabble cotton town into Wal-Mart, the largest retailer in the world. The undisputed merchant king of the late twentieth century, Sam never lost the common touch. Here, finally, Sam Walton tells his extraordinary story in his won inimitable words. Genuinely modest, but always sure of his ambitious and achievements, Sam shares his thinking in a candid, straight-from-the-shoulder style. In a story rich with anecdotes and the "rules of the road" of both Main Street and Wall Street, Sam Walton chronicles the inspiration, heart, and optimism that propelled him to lasso the American Dream. "Here is an extraordinary success story about a man whose empire was built not with smoke and mirrors, but with good old-fashioned elbow grease." -- Detroit Free Press.
Most helpful customer reviews
58 of 66 people found the following review helpful.
Very good - especially with Wal Mart now taking heat
By M. Strong
First off, this is a very strong story of a man and a business. Walton does a nice job of telling a clear, concise story about how he built the business of Wal Mart. It's very enlightening to hear him admit with pride that he invented very few of the ideas that made the store such a success, instead borrowing the best ideas from every store he visited (and he visited a lot).
Secondly, this book contains a valuable example of how capitalism forces the evolution - for better or worse - of industries. Walton takes the reader from the days of the small-town five and dime all the way through the mega Wal Marts of today. It's a valuable read for anyone interested in business.
Third, reading "Made in America" provides the reader with some important context for considering all of the attacks on Wal Mart in the popular press. You get to see that Wal Mart was built with really good intentions and that even though not everything born of Wal Mart's rise to dominance is an unmitigated good, it has done a lot of positive things for American consumers. That's really valuable because Wal Mart has become a bit of an unequivocal evil in the modern press and that simply isn't an even-handed treatment of the subject.
Highly recommended for those who would like to understand the motivations behind Wal Mart being what it is today and a great business story to boot.
50 of 59 people found the following review helpful.
Self-serving autobio of a truly great entrepreneur
By Robert J. Crawford
Walton's story is certainly worth reading. He built a business - now the biggest in the world - that can only be described as the work of a genius.
The great virtue of this book is the portrait of his mind: he was utterly obsessed with retailing and bent a truly formidable energy to think about it at almost every working hour of the day. It may sound corny, but he reminds me of Miles Davis, who lived, breathed and ate his music. Walton looked at things from every angle, learning as he worked and unafraid to walk into a competitor's office unannounced with a tennis racket to talk. He was a showman and true believer, but also focused maniacally on operations and implementation. (About this, he pontificates about his competitors enjoying the trappings of success to the detriment of their attention to business - surely this is true in some cases, but repeatedly hearing it gets a bit boring.)
The business model he created is simple: always offer the lowest price possible, depending on higher volume to generate higher profit. The second pillar was to relentlessly pursue logistical superiority, in both a distribution system and computer-aided controls, enabling Wal-Mart to continually enhance its efficiency and speed of delivery. As the company grew, it was able to use its power to force suppliers to sell at ever-lower prices. Its stores spread slowly, oozing out like molasses, always supported by the distribution system. The third pillar, which in my opinion is exaggerated to the point of self-delusion, is the "family" aspect of employees (or "associates"), both as members of a store and in relation to customers. Certainly there is something to that, but it is far more limited than he seems to be aware of. Throughout, Walton offers many invaluable recommendations for business men and entrepreneurs. THere is no question he was one of the best.
The great failure of the book is Walton's inability to reflect on the impact of his company. Rather than taking the arguments of critics to heart honestly in the slightest, he dismisses them as people who moved to cities and are merely nostalgic about their childhoods in rural towns that have changed in no way because of his business practices. He also refuses to contemplate the impact of his company's power to act as a monopsony (sole buyer), forcing conditions on suppliers that can ruin them. That is one of the great changes in 20C capitalism: the shift of power of retailers to the detriment of manufacturers and suppliers, which Wal-Mart pioneered. Finally, he views unions exclusively as divisive influences rather than legitimate players and potential allies. In this, he shows little realistic empathy whatsoever regarding employees who don't appreciate their position or treatment in his stores.
Walton appears to believe in his own myth and he presents it well: his tone is down home, expresses a genuine Christian humility, and believes in small-town values. Fair enough, but there are many who see things differently. I suppose that that self-serving tunnel vision and absolute confidence in the system he created is part of his entrepreneurial genius, but it is also a clear statement on its limits.
Recommended. This is on a par with Ray Kroc's autobio and will interest all students of business.
27 of 31 people found the following review helpful.
You feel as if Grandpa was talking to you.
By Alvin Tanhehco
Despite my hesitation at picking up an autobiography, I must say Made in America turned out to be quite a pleasant surprise. In it, Sam intersperses story telling with quotes from his colleagues, family and the media. After reading the story, you get a very clear picture of Sam's humble beginnings as a local boy who delivered papers, a boyscout who saved a person's life, a variety store franchise owner who was driven out of town because his lease expired and he didn't know that it was part of the contract he signed. In it you also learn what the Walmart Way was about. It's about hard work, passion for the job and thoughtful spending.
He completed it just before he died of cancer. And a good thing he did because nobody can tell the story better than the person who's lived it.
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