Costco Wholesale Corporation, founded inoperates more than membership warehouses, under the name of Costco Wholesale.
You can find one of their warehouses in over locations around the United States, as well as an additional warehouses in Canada, Mexico, Australia, the United Kingdom, and parts of Asia. In many financial comparisons, Costco seems to beat out all of their industry competitors.
Even in the recent economic downtown, Costco still posted growth in their stock, as well as higher than industry average profits. So what exactly makes Costco so successful?
Do they have a responsibility to act in the best interest of all stakeholders? What are the effects of these decisions?
Using Costco as a prime example of a socially responsible corporation, I hope to prove that acting in a socially responsible Costco diversity towards all stakeholders is ultimately more beneficial for a company.
A traditional view of business ethics is that is it acceptable, and even encouraged, to operate only for maximum profit. As he claims, your ethical responsibility as a business owner or executive is to ensure the highest profits possible, in order to maximize the gains of your stockholders.
On the surface, this certainly appears to make sense. A prime example of this business model is Wal-mart Inc. Additionally, almost half of the children of Wal-mart employees were uninsured or on public health care. By spending less on employee health benefits, we now have more money to invest back into the company.
Surely, Friedman would approve of this. Costco proves that the answer to that question may be no. Consequently, employees at Costco are much happier than their peers. That is a staggering amount of lost profit. Imagine if they had the same numbers of employees!
Rather, this list includes employees, the community, suppliers, consumers, etc. But why should we listen to Freeman?
I would argue that Costco is a shining example of why the Stakeholder Theory is a sound model of business operations.
Costco does a wonderful job of acting in the best interests of many stakeholders that their competitors ignore, particularly in the area of their consumers.
|Costco Wholesale Corp Supplier Diversity Program - Diversity||Attracting, recruiting and retaining a skilled, high-performing and diverse workforce that reflects our marketplace.|
|COST Profile | Costco Wholesale Corporation Stock - Yahoo Finance||The Walton Lecture is free to the public. Fragnoli says she became involved in risk management by accident.|
|Human Resource Management of Costco | Management Paradise||How Sustainable is Costco's Competitive Advantage?|
Costco is cutthroat with their suppliers, dropping anyone that may give competitors a lower price, or forcing Starbucks to drop their prices in order to continue selling at Costco warehouses Cascio, Even though it cost more, Costco was willing to buy better coffee because the quality at their stores would be higher.Costco Wholesale (NASDAQ:COST) is already a $27 billion business, but that doesn't mean it's done growing.
And what better way to do so than to enter one of the world's largest and fastest growing. Glassdoor is your resource for information about the Diversity Program benefits at Costco Wholesale.
Learn about Costco Wholesale Diversity Program, including a description from the employer, and comments and ratings provided anonymously by current and former Costco Wholesale employees.
Dec 19, · Costco has a lot to work on in terms of diversity in its management; specifically the mentoring and promotion of women.
Costco lacks any off/on ramps for women in supervisory or managerial positions who have families or want to start arteensevilla.com: Current Employee - Cashier.
Diversity and Inclusion Diversity & Inclusion Vision We Power Life with a diverse, inclusive and engaged culture that inspires all individuals to work together to operate a world-class energy business for our owners, customers, employees and communities. Nov 29, · Watch video · Amazon, Indeed, Kaiser Permanente, Nike and Toys R Us are among the top 25 companies for diversity, according to Comparably, a compensation, culture and career monitoring website.
Over 60 percent of our U.S. employees have five or more years with Costco, and over one-third have more than 10 years. Costco also has long-tenured workforces in the other locations where we do business, particularly in more mature markets in Canada, .