28
SUCCESSFUL LEADER SUCCESSFUL LEADER Sam Walton Sam Walton Founder of Wal-Mart Founder of Wal-Mart

SUCCESSFUL LEADER Sam Walton Founder of Wal-Mart

Embed Size (px)

DESCRIPTION

SUCCESSFUL LEADER Sam Walton Founder of Wal-Mart. Outline. Sam’s Profile What was his success? Sam’s personal attributes Sam’s leadership style/approach Situational circumstances What we have learnt. Sam’s Profile. 1918-1992 Founder of Wal-Mart, the world's largest merchant empire - PowerPoint PPT Presentation

Citation preview

Page 1: SUCCESSFUL LEADER Sam Walton  Founder of Wal-Mart

SUCCESSFUL LEADERSUCCESSFUL LEADER

Sam Walton Sam Walton Founder of Wal-MartFounder of Wal-Mart

Page 2: SUCCESSFUL LEADER Sam Walton  Founder of Wal-Mart

OutlineOutline

• Sam’s ProfileSam’s Profile

• What was his success?What was his success?

• Sam’s personal attributesSam’s personal attributes

• Sam’s leadership style/approachSam’s leadership style/approach

• Situational circumstancesSituational circumstances

• What we have learntWhat we have learnt

Page 3: SUCCESSFUL LEADER Sam Walton  Founder of Wal-Mart

Sam’s ProfileSam’s Profile

•1918-19921918-1992•Founder of Wal-Mart, the Founder of Wal-Mart, the world's world's

largest merchant empirelargest merchant empire

•““Walton has transformed Walton has transformed retailing the way Henry Ford retailing the way Henry Ford revolutionarized transportation.”revolutionarized transportation.”

Page 4: SUCCESSFUL LEADER Sam Walton  Founder of Wal-Mart

The Wal-Mart StoryThe Wal-Mart Story

“ “We're all working together; that's the We're all working together; that's the secret. And we'll lower the cost of secret. And we'll lower the cost of living for everyone, not just in living for everyone, not just in America, but we'll give the world an America, but we'll give the world an opportunity to see what it's like to opportunity to see what it's like to save and have a better lifestyle, a save and have a better lifestyle, a better life for all. We're proud of what better life for all. We're proud of what we've accomplished; we've just we've accomplished; we've just begun."begun."

Page 5: SUCCESSFUL LEADER Sam Walton  Founder of Wal-Mart

What was Sam’s What was Sam’s success?success?

• Walt-Mart is one of the world’s Walt-Mart is one of the world’s largest corporations of any kind with largest corporations of any kind with shops in America, Asia and Europe shops in America, Asia and Europe

Page 6: SUCCESSFUL LEADER Sam Walton  Founder of Wal-Mart

Secret of success: Secret of success:

• offering a wide range of goods at a offering a wide range of goods at a very low price very low price

• keeping his store centrally located in keeping his store centrally located in order to attract many customer order to attract many customer

• Longer business hours than others Longer business hours than others • Sam searched around in other Sam searched around in other

people's stores for good manager people's stores for good manager talents talents

Page 7: SUCCESSFUL LEADER Sam Walton  Founder of Wal-Mart

Personal AttributesPersonal Attributes

• Hard worker, energetic and stress Hard worker, energetic and stress tolerant:tolerant:

> He started his own business from > He started his own business from almost nothing almost nothing > He was always trying to get the > He was always trying to get the most out of money most out of money

Page 8: SUCCESSFUL LEADER Sam Walton  Founder of Wal-Mart

……continuedcontinued

• He took chances and never said He took chances and never said never:never:

> He never stopped looking for > He never stopped looking for cheaper and better ways of doing cheaper and better ways of doing business business > He was always trying to improve > He was always trying to improve the business the business

Page 9: SUCCESSFUL LEADER Sam Walton  Founder of Wal-Mart

……continuedcontinued

• He spread his way of thinking:He spread his way of thinking:

> He believed: > He believed: “If you try to give every day your “If you try to give every day your best, you do your work with love and best, you do your work with love and passion, pretty soon every body passion, pretty soon every body around you will catch this passion.”around you will catch this passion.”

Page 10: SUCCESSFUL LEADER Sam Walton  Founder of Wal-Mart

……continuedcontinued

• self-confidence: self-confidence:

> he was well aware of his power > he was well aware of his power and he cultivated it and he cultivated it > he set himself challenging > he set himself challenging objectives objectives

Page 11: SUCCESSFUL LEADER Sam Walton  Founder of Wal-Mart

……continuedcontinued

• Employees were partners and not Employees were partners and not subordinates: subordinates:

>he listened to his employees >he listened to his employees >he was reachable for them also at >he was reachable for them also at home home >he offered them a percentage of >he offered them a percentage of the store's profits and the possibility the store's profits and the possibility to become limited partnersto become limited partners

Page 12: SUCCESSFUL LEADER Sam Walton  Founder of Wal-Mart

Sam’s leadership Sam’s leadership style/approachstyle/approach

• Mix of participative and autocratic leaderMix of participative and autocratic leader

• Hand-on manager and arm’s length typeHand-on manager and arm’s length type

Task oriented behaviors:Task oriented behaviors:> planning, coordinating, organizing > planning, coordinating, organizing Relation oriented BehaviorRelation oriented Behavior> communicating , developing, rewarding> communicating , developing, rewarding

Page 13: SUCCESSFUL LEADER Sam Walton  Founder of Wal-Mart

PParticipative Leader articipative Leader

• Local stores can decide on their own on Local stores can decide on their own on what to stock to suit customers’ needs what to stock to suit customers’ needs

• He talk to the associates to find out how He talk to the associates to find out how the stores were doing and pay visit to the the stores were doing and pay visit to the ones who were not doing very well ones who were not doing very well

• representative of associates are invited to representative of associates are invited to the annual meeting the annual meeting

Page 14: SUCCESSFUL LEADER Sam Walton  Founder of Wal-Mart

Autocratic Leader Autocratic Leader

• To ensure success he made also To ensure success he made also autocratic decisionsautocratic decisionse.g. e.g. Saturday work is part of the Saturday work is part of the commitment when it comes to a commitment when it comes to a career in retailcareer in retail working on Saturday working on Saturday

Page 15: SUCCESSFUL LEADER Sam Walton  Founder of Wal-Mart

Task oriented behaviors:Task oriented behaviors:planning, coordinating, organizingplanning, coordinating, organizing

• He established a network between He established a network between the Wal-Mart stores in order to get the Wal-Mart stores in order to get an cost advantagean cost advantage

Page 16: SUCCESSFUL LEADER Sam Walton  Founder of Wal-Mart

Relation oriented Behavior:Relation oriented Behavior:communicating , developing, communicating , developing,

rewarding rewarding

Communicating:Communicating:

•he informed the associates about •he informed the associates about company’s datacompany’s data

••information sharing helps information sharing helps associates to implement strategies associates to implement strategies accordinglyaccordingly

Page 17: SUCCESSFUL LEADER Sam Walton  Founder of Wal-Mart

DevelopingDeveloping

• Sam asked for the associates’ Sam asked for the associates’ feedback to encourage development feedback to encourage development in business. Thereby also associates in business. Thereby also associates were able to improve their skill.were able to improve their skill.

Page 18: SUCCESSFUL LEADER Sam Walton  Founder of Wal-Mart

Rewarding Rewarding

• Sam rewarded the good performance Sam rewarded the good performance of his associates and encouraged of his associates and encouraged others to improve. others to improve.

• So they could learn and improveSo they could learn and improve

Page 19: SUCCESSFUL LEADER Sam Walton  Founder of Wal-Mart

SituationalSituational circumstances circumstances

• Sam developed a new idea of Sam developed a new idea of retailing retailing

• Traditional retailer feared to loose Traditional retailer feared to loose the control over their market the control over their market

Page 20: SUCCESSFUL LEADER Sam Walton  Founder of Wal-Mart

1. 1. Sam’s measures Sam’s measures

• Good cost management is necessary to Good cost management is necessary to achieve objectivesachieve objectives

• series of reform in motivating employees series of reform in motivating employees and in the compensation system and in the compensation system

• created a partnership with his employeescreated a partnership with his employees

• profit sharing, incentive bonuses, discount profit sharing, incentive bonuses, discount stock purchase plan stock purchase plan

Page 21: SUCCESSFUL LEADER Sam Walton  Founder of Wal-Mart

Arguments for Sam’s Arguments for Sam’s continued success as a leadercontinued success as a leader

• Passion and enthusiasmPassion and enthusiasme.g. he was always searching for new e.g. he was always searching for new ideas and possibilities to improve business ideas and possibilities to improve business and relation to his associatesand relation to his associates

• Sam tried to combine tasks and relations Sam tried to combine tasks and relations > he wanted to offer customers a wide > he wanted to offer customers a wide range of product at low price range of product at low price >he encourage teamwork >he encourage teamwork

Page 22: SUCCESSFUL LEADER Sam Walton  Founder of Wal-Mart

……continuedcontinued

• He created the Walt-Mart cultureHe created the Walt-Mart culturee.g. Walt-Mart cheer: e.g. Walt-Mart cheer:

• It goes like this: Give me a W! "W!" Give me an A! It goes like this: Give me a W! "W!" Give me an A! "A!" Give me an L! "L!" Give me a squiggly (shake "A!" Give me an L! "L!" Give me a squiggly (shake hips)! "Squiggly! (Shake hips)" Give me an M! "M!" hips)! "Squiggly! (Shake hips)" Give me an M! "M!" Give me an A! "A!" Give me an R! "R!" Give me a T! Give me an A! "A!" Give me an R! "R!" Give me a T! "T!" Who's number one? "The CUSTOMER!""T!" Who's number one? "The CUSTOMER!"

Page 23: SUCCESSFUL LEADER Sam Walton  Founder of Wal-Mart

What we have learnedWhat we have learned

Factors to successful personal Factors to successful personal leadership developmentleadership development

• PersonalityPersonality• Knowledge and experienceKnowledge and experience

Page 24: SUCCESSFUL LEADER Sam Walton  Founder of Wal-Mart

1. 1. PersonalityPersonality

• Hard work leads to successHard work leads to success

• Interpersonal skills: respect and Interpersonal skills: respect and understanding for others leads to a understanding for others leads to a good climate and improves working good climate and improves working performanceperformance

• Risk taking is necessary for invention Risk taking is necessary for invention and development and development

Page 25: SUCCESSFUL LEADER Sam Walton  Founder of Wal-Mart

2.2. Knowledge and experienceKnowledge and experience

• Knowledge about the business is the Knowledge about the business is the basis of success but a lot comes from basis of success but a lot comes from learning by doing learning by doing

• Learning from experience can avoid Learning from experience can avoid new mistakes new mistakes e.g. particularly crisis situation have e.g. particularly crisis situation have a huge learning impacta huge learning impact

Page 26: SUCCESSFUL LEADER Sam Walton  Founder of Wal-Mart

3. 3. Strengths and weaknessesStrengths and weaknesses

• Be aware with your strengths and Be aware with your strengths and weaknesses weaknesses

• Use your strengths appropriately Use your strengths appropriately

• Ask for help in case of weaknessesAsk for help in case of weaknessese.g. hire experts to complement your e.g. hire experts to complement your weaknessesweaknesses

Page 27: SUCCESSFUL LEADER Sam Walton  Founder of Wal-Mart

ConclusionConclusion

Sam Walton was a successful leader Sam Walton was a successful leader and his leadership style is a severe and his leadership style is a severe

template for other leaders.template for other leaders.

But every leader has to analyze the But every leader has to analyze the situation, incorporate the situation, incorporate the

organizational culture and adjust the organizational culture and adjust the leadership style. leadership style.

Page 28: SUCCESSFUL LEADER Sam Walton  Founder of Wal-Mart

Group 4Group 4

Evelyn Hofer 02762793Evelyn Hofer 02762793

Phoebe Hon Phoebe Hon 0124452401244524