Nice Guys Can Finish First : The Success Story Of Jim Sinegal
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Jim Sinegal 1
Nice guys can finish first
University of Louisville
May 14, 2015
Nice guys can finish first, the success story of Jim Sinegal
This paper is an attempt to capture the unique leadership style of Jim Sinegal, the CEO and co-founder of Costco and how his approach to managing one of the world?s largest retail stores has made him so successful. We will take a look at his humble upbringing as the son of a steel worker in Pittsburgh and how his first job at a retail warehouse influenced him to pursue a career in retail sales. We will also try to answer questions like, how do you grow a company from one store in 1983 to over 600 in 2014 with average…show more content… (Costco Annual Report, FY14). Costco has become the second largest retailer in the United States and the third largest in the world.
Self Awareness In an interview with the New England Journal of Entrepreneurship, Sinegal is quoted as saying ?When I was 18, I had the good fortune to work for and be trained by a gentleman who had the highest sense of integrity and values. That rubbed off. It was part of my whole business acumen if you will, my education in business, and this was the right course of action.? (Davis & Sinegal, 2008). The gentleman Sinegal was referring to was Sol Price, the founder of FedMart and Price Club who is considered a pioneer of warehouse retail stores. Sinegal worked his way up the corporate ladder at FedMart, starting out in the warehouse and eventually working his way to vice president in charge of merchandising and operations. During his time at FedMart Sinegal realized his dream was to own a warehouse retail store of his own. Sinegal felt confident that he could be successful as an owner and manager based on the mentorship and training he had received from Sol Price over nearly 20 years working for him. Sol Price?s simple approach of using integrity and values to run a business would become the key to Sinegal?s success.
Stress Management and Resiliency Throughout Sinegal?s career he has relied upon the core values and business ethics that his mentor Sol Price had taught him, to endure the