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Principles of Management

Sam Walton and Wal-Mart has thrived on a few key principles. "If you're good to people, and fair with them, and demanding of them, they will eventually decide that you're on their side," Walton says. So Walton had this vision and surrounded himself with people who understood and could execute it. With his vision firmly inculcated, Walton let people make mistakes and move along, and they changed when they needed to change. It started in Rogers, Ark., and moved on to other rural markets. Walton, a pilot, scouted locations from his airplane. His stated mission was bringing a large selection of house wares and clothing to rural America. It succeeded as the only game in town. By the late 1980s and early 1990s, Wal-Mart was closing in on urban ar

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