Many trace discount retailing's birth to 1962, the first year of operation for Kmart, Target and Wal-Mart. But by that time, Sam Walton's tiny chain of variety stores in Arkansas and Kansas was already facing competition from regional discount chains. Sam traveled the country to study this radical, new retailing concept and was convinced it was the wave of the future. He and his wife, Helen, put up 95 percent of the money for the first Wal-Mart store in Rogers, Arkansas, borrowing heavily on Sam's vision that the American consumer was shifting to a different type of general store.

Today, Sam's gamble is a global company with more than 1.8 million associates worldwide and nearly 6,500 stores and wholesale clubs across 15 countries. The "most admired retailer" according to FORTUNE magazine has just completed one of the best years in its history: Wal-Mart generated more than $312.4 billion in global revenue in the fiscal year ended January 31, 2006, establishing a new record and an increase of 9.5 percent. The company earned almost $11.2 billion in net income in fiscal 2005.

But it all started with an understanding of what consumers want from a retailer.

"The secret of successful retailing is to give your customers what they want," Sam wrote in his autobiography. "And really, if you think about it from the point of view of the customer, you want everything: a wide assortment of good quality merchandise; the lowest possible prices; guaranteed satisfaction with what you buy; friendly, knowledgeable service; convenient hours; free parking; a pleasant shopping experience.

"You love it when you visit a store that somehow exceeds your expectations, and you hate it when a store inconveniences you, or gives you a hard time, or pretends you're invisible."

While other discounters such as Kmart quickly expanded across the country in the 1960s, Sam was able to raise the funds to build only 15 Wal-Mart stores. Wal-Mart got the boost it needed in 1970, when its stock was offered for the first time on the New York Stock Exchange. The public offering created the capital infusion that grew the company to 276 stores by the end of the decade. By focusing on customer expectations, Wal-Mart was growing rapidly in 11 states.

In the 1980s, Wal-Mart became one of the most successful retailers in America. Sales grew to $26 billion by 1989, compared to $1 billion in 1980. Employment increased tenfold. At the end of the decade there were nearly 1,400 stores. Wal-Mart Stores, Inc. branched out into warehouse clubs with the first SAM'S Club in 1983. The first Supercenter, featuring a complete grocery department along with the 36 departments of general merchandise, opened in 1988. Wal-Mart had become a textbook example of managing rapid growth without losing sight of a company's basic values. In Wal-Mart's case, the basic value was, and is, customer service.

Ironically, technology plays an important role in helping Wal-Mart stay customer focused. Wal-Mart invented the practice of sharing sales data via computer with major suppliers, such as Proctor & Gamble. Every time a box of Tide is rung up at the cash register, Wal-Mart's data warehouse takes note and knows when it is time to alert P&G to replenish a particular store. As a result, Wal-Mart stores rarely run out of stock of popular items.

Wal-Mart have more than 1.8 million employees worldwide and nearly 6,500 stores and wholesales clubs across 14 countries.

The scope and scale of our business presents great potential to effect positive change. We see opportunities to influence our own operations, while also leading change in the business world at large.

Focusing on the environment is key to our mission to improve the quality of life for people around the world. Environmental leadership is critical to our future ability to grow and thrive as a company.

As in all things, in our people practices, we take to heart our core belief to strive for excellence. That means constantly looking for ways to improve, whether it's connecting executive compensation to diversity goals or improving the supplier application process. Improving these vital relationships are key to a better Wal-Mart and a better world.

Our Company is more than just a great place to work. Wal-Mart Stores, Inc. strives to meet the diverse needs of our associates by offering a wide range of choices in our benefits package. Altogether, Wal-Mart Stores, Inc. offers more than 50 different benefits, are designed to help associates meet their unique personal, family, and financial needs, and are divided into four categories that are easy to recognize: My Health, My Money, My Home, and My Career.

My Health
My Health benefits provide a range of medical coverage options that are designed to protect associates from catastrophic medical costs. My health benefits offer peace of mind, protection for the unexpected, and can help associates take care of themselves and their families.

My Health benefits also include Life, Dental, Short-Term Disability, Long-Term Disability, and Accidental Death and Dismemberment Insurance. Read more

My Money
My Money benefits offer associates several ways to save and invest for their financial security. Our Profit Sharing and 401(k) Plan helps associates save for long-term financial needs, such as retirement, and our Associate Stock Purchase Plan allows associates to buy stock through payroll deduction.

My Money benefits also include financial education, pay programs, and discounts for associates and their families. Read more

My Home
Wal-Mart Stores, Inc. believes that it is important for associates to find the right balance between their work life and personal life. My Home benefits are intended to help achieve this balance. Our My Home benefits include educational reimbursements; discounts on child care, travel, and many other services; and professional counseling services available at no cost to associates and their families.

My Home benefits also include long-term service benefits, leaves of absence, and scholarships for higher education. Read more

My Career
My Career benefits are designed to give each associate every opportunity to grow, prosper, and advance in his or her career. Any associate with the desire and the ability to get the job done will find many career paths and opportunities to explore.

My Career benefits include classroom training, computer-based training, in-store and on-the-job training, mentoring, and a host of other opportunities to give each associate the knowledge and skills they need for a successful career. Read more

"Respect for the Individual", "Service to the Customer" and "Strive for Excellence".