Eco 365 Week 2 Industry Overview

Running head Operation/Industry Paper Organization/Industry Paper University of Phoenix Eco 365 March 30, 2011 Introduction For many years, people across the United States has sought out ways in which to make money, and at the same time, provide for people a place where they can go and buy the necessities they need. Entrepreneurs from across the United States had ideas that seemed logical, but in actuality were not. Stores, business, and companies have been built, only to last for a short time. Not every store or business built has been successful. Many entrepreneurs in the United States had to take a huge hit before they built something successful. Such was the case for Sam Walton. His first attempt to developing a successful franchise failed. With much determination and desire to succeed, he became one of the most successful entrepreneurs of all time. Wal-Marts first store opened its doors in 1962. Sam Walton was the founder of the organization, which he thought of only after he had opened a chain of variety stores in the fifties that were unsuccessful. After the failure of those stores, Sam Walton went across the nation and studied everything there is to know about retail discount