dollar out of someone in negotiations but he does know what it means to customers, “Every time we save them a dollar, that puts us one more step ahead of the competition-which is where we always plan to be,” (Walton 13).
In chapter two, Starting On A Dime, Walton discusses how he typically found new ways to gain competitive advantage while offering low prices. One such strategy involved buying merchandise directly from manufacturers. The chapter demonstrates Walton’s perseverance, endurance, and hard work, often driving all over Tennessee to find special buys that would provide him with low cost merchandise. As he maintains, “That was the start of a lot of the practices and philosophies that still prevail at Wal-Mart today” (Walton 31).
In chapter three, Bouncing Back, Walton describes the methods that prompted him to enter the discount business, knowing it was the future. He shows how he was often rejected by firms like Butler Brothers and Ben Franklin in his efforts at franchising. Though he would end up making his family members billionaires, he discusses how he risked all their futures when he decided to build the first Wal-Mart. Ironically, few were interested but it did not deter Walton, “Nobody wanted to gamble on that first Wal-Mart” (55).
In chapter four, Swimming Upstream, Walton argues that going against the grain has often been responsible for his unprecedented success in discount retailing. Walton discusses how not everything fell into place right off the bat for Wal-Mart, just one of many case of swimming upstream. He admits the company had many shortcomings but made up for them by focusing on item promotion, “an unsophisticated buying program, a less than ideal merchandise assortment, and practically no back-office support. It was another example of swimming upstream,” (Walton 80). Walton made up for these shortcomings by acting as a merchant until they were overcome.
In chapter fi...