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Costco Code Of Ethics Paper

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Costco Wholesale is a multi-billion dollar global retailer with warehouse club operations in over 700 locations in eleven different countries. Costco is a membership warehouse club, individual customers or businesses who would like to shop their, must first buy a membership that ranges from $60 - $120. There are four different types of membership options: Gold Star, Gold Star Executive, Business, and Business Executive. The Gold Star, and Gold Star Executive memberships are for individual households, and the Business, and Business Executive memberships are for businesses. Costco provides a wide selection of quality-brand merchandise, plus specialty departments and exclusive member services.
Costco’s first location, opened in 1976 under the …show more content…

Costco has five main principles, their first rule is to obey the law “we must conduct our business in total compliance with the laws of every community where we do business” (The Costco Story). Costco’s second rule in their code of ethics is to take care of their members. Costco believes that their members have extended a trust to Costco by paying a fee to shop with them, and they will only succeed if they do not violate their members trust. Costco’s third rule is to take care of their employees, “our employees are our most important asset...we are committed to providing them with rewarding challenges and ample opportunities for their personal and career growth” (The Costco Story). Costcos fourth rule is to respect their suppliers, Costco believes that, their suppliers are their partners in business, and for them to prosper as a company, their suppliers must prosper with them. Costco’s fifth and final principle is to reward their suppliers, which they believe is their most ultimate …show more content…

Costco has integrated this concept into their business in multiple ways. Costco takes a leading role in the communities in which they do business, believing it is important to give back to those who contribute to their success. Costco is well known for its generosity and community service and has won many awards for its philanthropy. The company encourages its employees to take an active role in volunteering and sponsors many opportunities for employees to help others. Costco budgets 1 percent of their pretax profits for charitable donations. In 2016 Costco contributed over $34 million to various organizations worldwide including the United Way, Children's Miracle Network Hospitals, the American Red Cross and International Red Cross, the Backpack Program, Costco Volunteer Reading Tutor Program and international disaster relief. One of Costco’s more popular charitable programs is the Costco’s Fresh Start Backpack Program, the retailer distributes backpacks to local schools in their communities. Started in 1993, Costco has donated nearly 3.5 million bags to children around the

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They also opened at around the same time, not really that long ago compared to other stores. They are both very similar to each other, but have a few differences. Costco’s first warehouse opened up in Seattle, 1983. In 1993, Costco actually struck a deal with Price Club to combine stores. They named the stores PriceCostco.

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Costco Wholesale Corporation strives to grow and expand through their competitive retail and pricing strategies in their market. As a retail firm, Costco depends on cusumer purchasing capacities (Gregory 2015). Costco offers a limited number of items that are afforadable quality services and goods to their consumers and believes it aids to their continued growing and expanding success. Costco is driven by cost leadership for their retailer store because they would rather maintain the lowest prices possible which enable customers to return. Costco largely relies on their pricing and retail strategy to continue sales and organization success.

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In Costco’s macro-environment, a variety of factors could affect the company’s economic viability. External factors such as inflation, foreign currency exchange rates, levels of unemployment, reduced consumer confidence, and changes in tax policies could unfavorably affect the demand for Costco’s products and services. Prices of some goods and services including food products, are often variant and subject to fluctuations deriving from changes in domestic and foreign supply and demand, competition, taxes, labor costs, or delays in delivery which could significantly affect Costco’s sales. Therefore, the product’s costs and selling could also increase affecting financial results. Other important economic factors include the increasing international

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Costco’s business model is centered around offering a smaller range of products at incredibly low prices which attracts the consumer. In order to supplement this lowered profit margin, they require their shoppers, both businesses and individuals, to purchase annual memberships. The membership fee accounts for a majority of the company’s profit. Furthermore, Costco operates its under a wholesale warehouse style which eliminates the need for excess handling and workers in the store. The stores are stocked to carry certain big ticket, ‘limited time offer’ goods so that customers feel the need to take advantage of the deal because it may not be there when they next return.

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Key Trends – Globalisation One of the main opportunities Costco has is more global expansion to specific targeted countries. Although operating in many countries, Costco is heavily dependent on the U.S. and Canadian markets. It still has the opportunity to expand into the Asian and Australian markets where it has a limited presence. Costco has the capability to operate about 100 stores in Taiwan, Korea and Japan combined and about 20 stores in Australia. It currently has 41 stores in Taiwan, Korea and Japan combined and 6 stores in Australia.

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Gold Star membership targets the individual or typical household and is offered at $55.00 for an annual membership. Business membership also cost $55.00 for an annual fee and includes household membership and focuses on business owners and managers. This type of membership is used for the purchase of products for business use, personal use, and resale use. The membership owner may add up to an additional six members for an annual of $55.00 each. The Business membership is Costco core target of offering small businesses products with reduced costs intended for resale.

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