1. What was Sam Walton’s original strategic vision for Wal-Mart? How did this enable the company to gain a competitive advantage? 

2. How did Wal-Mart continue to strengthen its competitive advantage over time? 

3. Explain how the expansion moves that Wal-Mart made in the 1990s made economic sense and helped to create value for the company’s shareholders.

Wal-Mart is one of the most extraordinary success stories in business history. Started in 1962 by Sam Walton, Wal-Mart has grown to become the world’s largest corporation. In 2014, the discount retailer—whose mantra is “everyday low prices”—had sales of more than $475 billion, close to 11,000 stores in 27 countries, and more than 2.2 million employees.