Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/330472 
Year of Publication: 
2022
Citation: 
[Journal:] Essays in Economic & Business History (EEBH) [ISSN:] 2376-9459 [Volume:] 40 [Issue:] 1 [Year:] 2022 [Pages:] 188-209
Publisher: 
Economic and Business History Society (EBHS), Rockford, MI
Abstract: 
Sol Price and Sam Walton changed retail in the twentieth century. Price changed retail by combining knowledge he assembled from real estate law and the firms he observed to find creative ways to innovate in discount retail. Walton, too combined and redeployed knowledge-in some cases, the knowledge he obtained watching Price. Walton also used the knowledge he acquired from studying retail logistics to develop a supply chain that dramatically lowered costs and passed those savings onto consumers. Both succeeded by developing organizations that effectively deployed entrepreneurial judgment. Their careers provide informative examples of the judgment-based approach to entrepreneurship.
Subjects: 
Walmart
retail
Sam Walton
Sol Price
judgment-based approach
entrepreneurship
effectuation
JEL: 
N82
L26
Creative Commons License: 
cc-by Logo
Document Type: 
Article

Files in This Item:
File
Size





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.