American booty

By JAMIE MILNE
Updated:

 

IT is a fact that I have been overblessed with drive and ambition from the time I hit the ground.'

These hackle-provoking words would seem arrogant had they not been uttered by the man who opened a single dime store in Arkansas in the 1940s and wound up creating the behemoth that is Wal-Mart, the largest retailer in the world.

Sam Walton sports a Wal-Mart baseball cap on the cover of his autobiography Made in America and boy, is he American. His story is the stuff of US business folklore and its pillars are the core beliefs practically genetic among entrepreneurs across the pond: family values, attention to detail, risk-taking and above all, hard work.

Walton paints himself as a straight-talker who, while in no doubt of his own brilliance, retains some modesty while detailing his triumphs (and the odd tribulation, such as Wal-Mart's very own Night of the Long Knives).

He tells of his upbringing, schooling and first forays into retail at the end of the Depression. 'The Wal-Mart years' are naturally of most interest though, as Walton delivers a unique insight into the strategies that created the group and fuelled its seemingly exponential growth.

Aggressive expansion and a policy of marketplace saturation aren't exactly endearing, but Walton's ideas on corporate culture (including 'the Wal-Mart cheer' and profit-sharing for employees) show there is a semi-progressive thinker lurking underneath the stereotypical capitalist exterior.

The writer's relentless tales of achievement (even in the school football team, Walton was an Alpha male) grate after a while, but he clearly understands what customers want and is surely an inspiration for anyone who fancies themselves as the next King of the Mall.

And if you want to challenge Walton's empire, here's a tip from the horse's mouth: keep your store's name short. That way, you save money if you have a neon sign. It's all in the detail, y'all.

• Made in America, by Sam Walton. Price: £7.59

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