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Now that Wal-Mart is so huge, it has unprecedented power to shape labour markets globally and change the way entire industries operate. Wal-Mart has been able to keep its prices low through cutting-edge technology, a frugal corporate culture and a push to make suppliers sell merchandise at cheaper and cheaper prices. Its sophisticated use of technology, its corporate culture of watching every expense, and above all else, its mission to keep prices low have made Wal-Mart successful.
HISTORY
Sam Walton opened his first five-and-dime in 1950. His vision was to keep prices as low as possible. Even if his margins weren't as fat as competitors, he figured he could make up for that in volume...
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