Big Issues, Jobs, Prices, And Economic State

Though I’ve only been with Costco for two years, I’ve had the opportunity to work with different leadership and management styles during my time here. Though this has helped me develop my

It is important for Tesco to have motivated employees which can help them succeed and gain awards for the best customer services. Tesco’s employees also need to help the customers and other stakeholders in order for them to return. This could also lead to people buying more shares in the business. The influence is customer satisfaction, stock, whether the customer returns because of Tesco’s quality products and prices or whether their service is good, if they don’t then Tesco’s customer service is not good enough.

He flies to several Costco’s around the country daily functioning himself as the man in charge, making sure all store managers are in accordance to his view on how his stores should be operated. He is also looking out for his employees through increased wages and benefits. He believes by being a lowest-cost producer along with highest wages, Costco will have better productivity over its competitors.

A nation’s economy plays a vital role in how a nation operates. The United States economy faces a large variety of problems in this paper; we will focus on 4 major economic problems, unemployment, inequality, federal debt, and the financial/credit market. All four issues are interconnected in some way with deep social and economic implications. These issues were emphasized during the Great Recession that hit the U.S. economy in 2007.In the following paper, we will look at each of the four topics individually as well as look at how each plays a significant role in one another’s overall impact on the U.S. economy as well as individuals in the United States. The United States plays a crucial role in the world economy, meaning that every issue and difficulty faced the United States economy has implications far outside the U.S., understanding how these issues relate to one another sheds insight into just how connected every area of the economy actually is.

The employees are very committed to their employer due to earning high wages, benefits, and internal promotions. A happy employee in turn, makes a happy customer. Employees interact with the customers, as the company foster’s an environment of collaboration (DiSalvo, 2015). Employees are not just checking you out, or bagging your groceries; they are engaged in their work, and want the customer to be as excited about the products as them. Customers like to form relationships with the businesses they visit, for example banks, restaurants and retail stores. At Trader Joe’s, the employee turnover for full-time employees is less than 10%, therefore customers get to know the employees and build relationships which makes shopping enjoyable and you don’t feel like just another shopper (Ton, 2012). Trader Joe’s certainly has a competitive advantage in customer service and as long as they continue to invest in their employees, they will have a sustainable advantage over their competitors.

In 1967, Leon Gorman was made president of the well known Maine retail company known as L.L. Bean. Gorman was elected president by the board of directors just eight months after the death of his grandfather and company founder L.L. Bean. After working only six years for the company before being promoted, Gorman had an immense task to take the company to the next level and begin planning for the future. Through calculated leadership, Leon Gorman was able to accomplish that task and take L.L. Bean from $4.75 million to $1.5 billion in sales before stepping down in 2013. Leon Gorman reached far beyond his grandfather’s expectations and made L.L. Bean one of the most recognized brands in the United States and abroad. What makes Leon Gorman a great leader was not not only what he did for sales and profits, but what he did for his employees and community. Mr Gorman “was a boss, mentor, coach, community leader, dear friend, and inspiration,” Chris McCormick, president and CEO of L.L. Bean Inc., said in a statement on his death. “Most importantly, he was the most decent human being you would ever want to meet. We will all miss him greatly” (Marquard, 2015).

Do you think Jim Sinegal is an effective CEO? What grades would you give him in leading the process of crafting and executing Costco’s strategy? What support can you offer for these grades? Refer to Figure 2.1 in Chapter 2 in developing your answers.

The team examined the benefits provided to the employees and the workplace culture at Aflac in order to determine why the organization enjoyed a low-rate of employee turnover and why surveys showed that its employees were highly satisfied with working at Aflac.

knows that his job is to look for the benefits of the company. As like the president

Costco is a recognized and successful retail chain including several locations, glowing feedback, and a wonderful overall reputation. Known by several audiences to be considered a “big-box” store, Costco offers various products in its stores at low, discounted prices, accompanying a membership card. Before and after researching this company, the author of this paper has heard exceptional feedback regarding the company for its initiative to keep prices low, employee morale high, and customer satisfaction to be one of its top priorities. Within this body of work, the author will dissect and discuss some of Costco’s stakeholder perspectives and how some of the perceived initiatives may help aid the company within its

Costco Wholesale has generated a revolution in how people shop: for the first time, many Americans are willing to 'pay' for the privileges of membership to a store so they can buy its products and save money. Like Wal-Mart, Costco prides itself on its low, low prices. However, in stark contrast to Wal-Mart, Costco has also made its exemplary treatment of its employees part of its marketing and sales strategy. It advertises itself as an ethical company, a company where it is a pleasure to work. This use of its HR police as a marketing strategy has proven to be effective, particularly with its target audience. While it caters to a wide and diverse audience in terms of its product diversity, on the whole Costco's target consumer is more affluent and educated than the average consumer at a big box store like Sam's Club. Costco's target audience members are interested

What recommendations would you make to Jim Sinegal regarding the actions that Costco management needs to take to sustain the company’s growth and improve its financial performance?

This is due to the fact that customers are forced to buy in bulk. A strategy taken by Costco wholesales to increase store turnover and profitability. Additionally, to increase its market influence, Costco has added services such as automobile, gas, optometry, pharmacy, and printing at very low prices in the past decade. “What’s better than to rotate my car’s tires, fill my prescription, gas my car, all the while I am finishing my shopping”, a dad might say while shopping at Costco. Finally, unlike any other mega-retailer, Costco has included its own employees as primary target market. By respecting the employees and paying them high wages, Costco has created a positive feedback loop for itself. Highly paid employees will have high loyalty toward the company, and they will shop at Costco for their needs. At the same time, due to their high loyalty, staff will provide high quality customer service for common customers. This generates positive word-of-mouth advertisement leading to an increase in membership sig-ups translating into higher profits for the company (Ingram, 2013).

Although Costco Wholesale Corporation has a mission statement, it does not have a clear statement of their vision. A firm’s mission statement determines the strategies and tactics needed to achieve the vision. On the other hand, a firm’s vision statement guides the overall direction of organizational development. Costco’s vision statement emphasizes customer experience and satisfactions, but it has not release an official vision statement. However, the company’s history implies

The United States is currently experiencing a slow recovery from the recession of 2008-09. The current unemployment rate is 7.7%, which is the lowest level since December of 2008 (BLS, 2012). However, this rate is believed to higher than the rate that would occur if the economy was operating at peak efficiency, and it is also believed that there are structural issues still underpinning this performance. For example, the number of Americans who have exited the work force as the result of prolonged unemployment is believed to be higher than usual. In addition, the Congressional Budget Office (CBO, 2012) notes that long-term unemployment of greater than 26 weeks is at a much higher rate than normal, which will have adverse long-run effects on the economy, since workers with long-term unemployment often find their career paths derailed.