Business Profiles Hershey's Milton Hershey Term Paper

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While at J.C. Penney, Walton read extensively about retailing theory and principles. He also had the insight to consider the importance of proximity to his merchandise suppliers and he took full advantage of his ability to turn around merchandise so fast that he could leverage his short-term debts to suppliers into capital for investment and growth.

6. Who is in charge of the company now?

Michael Terry Duke, became the Chief Executive Officer and President of Wal-Mart Stores Inc. In 2009. Previously, he was the Executive Vice President of Wal-Mart Stores Inc., and before that, he served as Executive Vice President of Administration, and Executive Vice President of Logistics, Senior Vice President of Logistics at Wal-Mart Stores Inc., and Senior Vice President of Distribution of Wal-Mart Stores Division (USA).

7. Describe any "barriers of entry," competition or marketing challenges the Entrepreneur overcame.

The principal barrier of entry faced by Walton was his lack of sufficient capital to interest a potential business partner.

8. Describe how the Entrepreneur became to believe that a market existed for this product or service.

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By the time Walton opened Wal-Mart, he had already studied retail sales comprehensively by his own reading and by using his job at J.C. Penney as a learning opportunity. His most important decision initially was emphasizing the importance of all of the factors necessary to maximize supply chain management from the start, particularly in relation to the proximity to suppliers.

9. Describe the resources/assets/team the Entrepreneur required to launch this business.

Walton opened his first store in Newport, Arkansas using his savings from his job at J.C. Penney that he used to purchase a Ben Franklin franchise store. The initial choice of location was the result of his wife Helen's refusal to live in any community that was larger than 10,000 people.

10. Describe the role of family in the success of the entrepreneur.

Walton's wife Helen encouraged him to open his first major venture, the Walton's Five and Dime in Bentonville, Arkansas.....

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