The History of Costco Wholesale DeAna Castro Wilmington University MGT 6501
Abstract Costco is a members only, international retail chain discount warehouse Club. They combine high quality merchandise with low prices. Costco began in 1976 as Price Club and restructured in 1997 as Costco Wholesales. Costco’s passion, mission, and ethics have been the key to the leading membership warehouse retail giant to supply their customers with low prices. Their low cost business strategies and dedication to their employees, suppliers and shareholders have proven success.
The History of Costco The history of Costco began in July, 1976, in San Diego, California, and its name was Price Club. It was cofounded by Sol and Robert…show more content… Costco’s structure and culture, meets customer needs further than low prices. Costco focuses on value of it’s products but also focuses on value of it’s employees. They believe that achieving a long term objectives of reducing employee turnover and enhancing employee satisfaction is beneficial. To accomplish this they hire employees at an above average hourly rate, they train and promote from within. Doing this, their employees feel loyalty and valued. Costco Continues to be financially successful today and has expanded internationally. Their mission and ethics have proved to be successful and beneficial to all that the organization is involved with to include, customers employees, suppliers/vendors and stockholders.
What does organizational design truly mean? Have you considered how it can work best? If yes, how? If no, why not? Organizational design is a formal process for integrating people, information, and technology. Organizations are people that have a declaration of purpose, vision and strategy. This structure matches people to the purpose it seeks to achieve a common goal or purpose. It is designed to enhance communication, information, and resources to optimize human achievement. The end product is an integrated system of people and resources tailored to the specific direction of the organization. Organizational design basically is an execution of an administrative plan guided by a leader/leaders. The
COSTCO HISTORY Costco Wholesale Corporation is a warehouse club that provides a wide selection of murchandise. Cosco is the seventh largest retailer in the world and the largest membership warehouse club chain in the United States. It was founded by James Sinegal and Jeffrey Brotman. Costco is headquarted in Issaquah, Washington, United States and was founded in 1976 in San Diego, CA and it’s first warehouse in Seattle, Washington on September 15, 1983. Costco…
broad spectrum but the selection in each product category is limited based on fast-selling models, sizes, and colors. • Treasure-Hunt Merchandising: while the product line consists of 4000... Costco goes out of its…
|Costco | |ESC-Accounting and Finance | | | |This case analysis will analyze the efficiency and health of the organization. This | |case analysis was created using the textbook and the Stanford Graduate School of | |Business. Costco Wholesale Corporation Financial Statement…
obey the law. That is standard protocol, or should be for every company. What I found to be the most “down-to-earth” principals were the other four. From what I have read Costco does not just highly value their customers, but also their employees, and I believe it is a mutual respect. When Sinegal was asked by a reporter why the Costco employees were treated so well, his response alone made me want to go buy a membership to support their business. “Why shouldn't employees have the right to good wages…
Strategic Plan for Costco Wholesale Corporation Executive Summary The retail industry is an extremely competitive environment that poses many challenges for Costco Wholesale Corporation and its competitors. Since many of the stores offer the same products, it may sometimes be very hard for customers to differentiate between retail stores. Even though the economy is recovering from a recession, the retail business is still a mature industry and is improving very steadily. Costco and its competitors…
Yahoo Inc. (Buy) At time of purchase, Alibaba of China is preparing for its IPO, believed to be the largest IPO in history. As a large shareholder in Alibaba, we felt that the price of Yahoo will increase in anticipation of Alibaba’s IPO. We did not sell Yahoo because we expect its stock price to go up when Alibaba goes public sometime in the future. Comcast (Buy) Comcast was closing in on a merger with Time Warner Cable. The merger would give Comcast even more market power, enabling it to…
the company to maintain customer satisfaction, excellent customer service internal and external, operational efficiency, eliminate challenges with manufactures, and to enhance company growth, and revenue (Sevilla, 2007). Team A will illustrate the Costco Wholesale Corporation, and Real-Time inventory system used by the company displaying challenges with the inventory system. The team will explain the future benefits that motivate the company to apply a solution. This document will exhibit a breakdown…
CASE: A-186A DATE: 06/19/03 CosTco WHOLESALE CORPORATION FINANCIAL STATEMENT ANALYSIS (A) INTRODUCTION Margarita Torres first purchased shares in Costco Wholesale Corporation in 1997 as part of her personal investment portfolio. Between 1997 and 2002, she added slightly to her holdings from time to time when the company sold stock for what she felt was a reasonable valuation, and up to that time she did not sell any of her shares. Having watched Costco grow from 265 warehouses to 365 worldwide…
Are You What You Buy? As a society we are embedded in a culture of consumption. Consumerism brings out a passion in people to have things, be it objects or services that will make them feel better. This "passion" becomes a powerful force that makes people make some unwise decisions in their life. The money consumers spend on these goods could be going to the ever-surmounting needs for health care, poverty help, or other things that would help the society as a whole. This is why America is the…
most-desired employer in the world, according to LinkedIn data. Google holds up remarkably well to its corporate motto: "Don't be evil" (tax avoidance aside). Its panoply of services brings perhaps more information to more people than at any time in history. In the most recent year, Google provided more than $100 million in grants to nonprofits and educational causes around the world. #5 Skyworks (Nasdaq: SWKS) Market Cap $3.9 billion Investor -- 7.1 Customer -- 8.9 Employee -- 8.5 World – 7…