CHAPTER 5

Belief System

There is only one boss—the customer. And he can fire everybody in the company from the chairman on down, simply by spending his money somewhere else.

—Sam Walton

Those words epitomized the belief system of Walmart, the first company in the history of the United States of America to generate US $500 billion in annual sales in 2017. Walmart continued to top the Fortune 500 ranking in 2018 (Fortune 2018), grabbing the top spot for the 15th time and 7th time in a row. With over 11,000 stores worldwide, Walmart employs 2.3 million employees with 1.5 million of them in the U.S. alone. Walmart is also continuously ranked as the top retailer in the world with its closest rival, Costco Wholesale Corporation coming in a distant ...

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