Costco Wholesale Corporation Relation With Stakeholders
Costco Wholesale Corporation
Relation of Costco Wholesale Corporation with Employees
Costco is a very much trusted warehouse for the employees as it best survives their employees and them also in return provides their best services to the Costco. They have assigns many of the important and essential facilities to their employees as their employees are serving best in the society and their employees take them to the number one ranking among all other warehouses club attaining companies.
Employees are always your base of the business more you satisfy them and ease them with facilities and some incentives as well that will encourage them and make them energetic and motivated in terms of doing more work with passion and hard work as well. Employees work with passion then that organization will be able to maintain its high quality in working and maintains its top rank in the market of other warehouses.
When your employees became happy then your company’s progress will improve very much with the high ranking as a priority. The CEO of the Costco emphasis very much on the employee’s benefits because they are offering a good experience to the people of shopping. The people like to shop now a day very much that they do not even feel it tiring and hectic works as well. As Costco is a long-term business then the relationship with the employees must efficient that it survives long. CEO focuses on external factors and considered them closely that leads to a very low turnover of employees. (I-sight.com, 2018)
As a long-term relationship of employees with the company, the rate of retention is increased by the CEO and it leads to saving of cost for the labour because they are awarded by many other bonuses and incentives in terms of an encouraging nature as well. Motivation is something that helps the person to increase its abilities and skills in terms of achieving high success in its business life or job schedule as well.
The employees in any company are of two types one are those that contact with the customers directly that came in the warehouse to fulfill their purpose of coming there successfully and the other type of customers are those that work within the organization’s premises they do not contact directly with the customers remain on back end in the warehouse and work internally in the organization. The internal employees are much hard working and useful for the organization as compared to the external employees. Because external employee only knows that he has to serve the client but the product or services he is offering to the clients are manufactured or produced but the internal employee also called as the labour of the company or organization.
Employees must feel this in your organization that they are very much important for you. They should be received with good welcome and they have said goodbye with the best smile so that they feel relaxed in working with you in your organization. They do not even think to go somewhere else from here if the owner or the manager behaves well with them. The manager or the leader of the labours must be soft-hearted but strict enough that it completes the daily target also with a positive attitude with labours during working as a must. (Short, 2017)
Frontline employees or external clients are also essential to take care of them and motivate them with positive attitude and good behavior because they are converting your business morality and good values so that you can earn a good feedback and sense of success if you have also given positive motivation and also awarded good incentives to him as well. If your employee will not be satisfied then its affects its communication with the clients because he did not behave positively with the clients and then he will neglect your clients considering them not his own clients. So employees satisfaction is very much important and every organization should consider it first whether they are external or internal clients they are to be motivated by the organization in terms of benefits and incentives as a must. (Denman, 2014)
Costco employees are considered the most satisfied employees in the market of having employees by the organizations and warehouses. Costco satisfies them in terms of good salaries with some compensation in their leaves and sat the time of recession as well. It did not leave its employees in recession alone and provides them with some amount of salary so that they can live their life well as there is a recession in the market.
It uses to hire the employees first that are related to the warehouse working and by the old employee’s house persons as well. Sometimes there happened then any of the employees gets sick so in that situation they allow its family member to work in the Costco in place of the actual employee. Costco employees after receiving these much benefits and incentives and facilities as well as the heads of the organization then they remain loyal to their organization by heart and work with great passion as well. As your employee, if you are helping them then your employer will also give you his best effort and best services to serve best in the organization with a lot of motivation and courage also. (Cooperstein, 2013)
2- Stakeholder relations write about Costco Wholesale Corporation and contribution for community and customers?
Costco Wholesale Corporation considered its employees the second best priority members as customers are those that increase the finance of your organization. Costco takes interest in satisfying customers at the highest level because the customers generate revenue for the organization. Costco offers many suitable rates to the clients so that they purchase more from them. Costco provides high-quality products with affordable quality so that it can easily acceptable to the clients. It also offers bulk prices to the wholesalers as well so that the wholesale purchases became more with the passage of time.
They provide high-quality products to its clients so that they remain satisfied all the time and they became aware of the good quality offered by them to its clients. In Costco, communities are also included in the corporation’s priority because they are going to serve the Costco well and it helps them very much well in order to earn good revenue for them. Costco serves the best to its clients because they generate great revenue for the Costco. The clients always need high-quality products for their use they do not compromise on quality but they also wanted to have the products at nominal prices because they remain in the budget which they have set for the shopping in a month. Customers move very much actively and carefully because they have to manage the lot with shopping as well. (Greenspan, 2017)
The stakeholder satisfaction is very much important and essential as well because it can affect the growth and sale of the products and services of the Costco it affects the supply chain process of the firm as well. The stakeholders of the company or any organization are interested in the community which serves the best to household services and products as a must. They also take a keen interest in the development of environmental protection facilities and resources also. Because both these facilities are very much important to consider them keenly and observe them as a must in your organization. Costco has a charitable community to which it serves with great interest and with the thought of their wellbeing because charity increases the wealth of your organization or firm as well.
The company used to donate many of the important and essential organizations to grant them with money and other opportunities and facilities as well. The Costco grants many of the local and international organizations in order to support their children in terms of good food, shelter, education, health and human services as well. The foundation of Costco is that they are going right. They are serving the best is their real motto but apart from that there may be the possibility of an issue in the working and quality assurance of the products or services they are offering to the clients may happen.
Costco products are highly efficient and well according to the quality they are considered very much authentic and approved by the quality control corporation in terms of giving the best and efficient products and services to the people who are actually their customers or clients as well. They also provide environmentally friendly products and services to its clients because every organization must consider this very much seriously and as an important factor so that it can easily and friendly accepts the product’s efficiency and good appearance as well. (Audrey Razafindrakoto, 2017)
Does Costco make a good price to the Consumer?
Costco very much focuses on being global in the future as it is very much helpful for the environment and it supposes the be efficient and helpful for the stakeholders as well. The company who wants to global always takes care of this that if he remains serving the people very much positively and environmentally then it became very many chances of the organization that it takes the highest ranking in the company’s competition in the organization market. The sustainable organizations are more acceptable to the people and are more liked by the people as well.
Costco’s warehouses are widely spread in the whole nation but it may faces in the start some of the political issues because they are acting much in some issues that politicians don’t want to include actual people in it. Some people think that ant organization or warehouses that are made are both very much user-friendly but they are just acting on being user-friendly. The shopping is that part of people’s lives that they do not compromise on. People not only shop as they do not want anything but they only shop if they want something very much important and essential for their life as grocery and many other important things for the use in their daily life. People shop to buy clothes.
People shop to buy books cars, utensils machinery and many other important things as well. They also consider it very much essential that whatever they buy will be economical and easily affordable as well, with the best quality as a must. This quality makes the organizations and warehouses most likely and favourite among the people who use those warehouses in terms of fulfilling their needs of shopping at one place. There held many price competitions in between different warehouses in terms of succeeding with each other for the increase in their customer’s number. Customers are the revenue generators for the organization and businesses as well because they buy the products or services for their ease and relaxation so more you provide better facilities to your customers more you satisfy them with best facilities and then more you get good results very much positive results in future related to the growth and success of your business. (Best, 2016)
They also improved the service quality for their customers sometimes a customer came to shop in their warehouse and he or she needs only one item so why he then use to wait for too long time. They made such strategies so that a person who buys a single product may be entertained well and at once buy single buyer counter. The customers who have a list of shopping to do must wait because they have collected too many items and for that billing the have to bear the loss of little wastage of time. But they also made more than one counter so that many of the clients are being entertained at one time and their time became saves as well. There are also too much ethics and beliefs at this company.
Such questions are mostly raised by many of the people that why this company is like this why they do not do this etc. Such people because they are not only acceptable by this but also very much important globally as well. Such questions are very much necessary to answer in front of the people. Most of the time it happened that the people will become curious about these issues and they made their life necessary in order to get the answer to these questions. (Alfs, 2012)
Such questions should be publically shown to the people by making a document and spread it among people through social media and other apps.
Technology is now a day an essential part of the organization’s success and rapid growth. Now, this is the time of technology. Now a day people use technological products and achievements in their daily life so that they can complete their works successfully and efficiently as well. Technology y not only made your work easy it also saves your time very much. If you are going to complete your work in three hours then in order to complete it with the use of technological products than it became very much helpful for you as well.
Technology in warehouses industry has revolutionized the world in terms of improvements in the working machinery that are used for loading and packing of the products and that is sufficient saves the times of the lab our yet it needs to be as by the labour but it still helps very much of the labour. It saves the time of labour that he uses to make a product or pack the product by hand. The use of machinery helps the labour in terms of loading and UN loading the heavy product at one place to another easily and vastly as well. (Rctom.hbs.org, 2015)
Technology is something that helps Costco in increasing their number of customers in terms of providing them technological changes on their shopping experience that the mist digital bill counters the automatic trolley machines the automatic robotic employees as the helper at the stalls corners available all the time for helping them etc. Such Facilities will help Costco in taking the highest rank in the market of warehouses.
Costco Wholesale Corporation is an American multinational company that deals with a number of clubs of the warehouses with their membership. Costco is termed as a retail industry which was founded on July 2, 1976, at California and in Washington on September 15 in 1983. It is now the world’s best and the largest retailer company which have a lot of variety in terms of their products available in the market. Now the company has a number of warehouses around 74 in number in the whole world. (Rctom.hbs.org, 2015)
By comparing the three factors of the Costco Company we can sum up this that Costco Company is a very much environment-friendly and sustainable. It passes all the tests and the steps that are compulsory to pass for any organization or warehouses to serve best in the society and to work in that society as well. The warehouses should be kept environment-friendly and safe or away from the people because they have to be checked by the quality authorities as well time to time. Because it is their responsibility to check every warehouse in terms of reporting to their higher authorities.
Costco Company has a very wide relationship of it with its stakeholders. Stakeholders are actually the Backbone of the company because they are going to invest in the company and they are also going to share the profit of the company with each other. They should be considered as an important part of the company and they are to be given the first priority but the first priority in the Costco is their employees and stakeholders came on second. This is because they are not directly involved in the working of the warehouses in which employees are involved directly.
The technology usage in warehouses corporation Costco is very much advanced and important as well. They are serving the best facility to their clients and are following very much efficiently and enthusiastically the needs and wants that are available and applicable to all other warehouses working in the market as competitors. Competitors are very much important for the success of the company. As they guide you that how you should improve your company in different stages of working in your organization. Warehouses competitors are also important to consider because they are very much important and the task is entirely different as well.
- Alfs, L. (2012, June 24). Top 5: Economic impacts of the new Costco store in Pittsfield Township. Retrieved from http://www.annarbor.com/business-review/top-5-economic-impacts-of-the-new-costco-store-in-pittsfield-township/
- Audrey Razafindrakoto, A. H. (2017, June 2017). Costco Wholesale Corporation. Retrieved from http://wedreambusiness.org/CostCo-Wholesale-Corporation.html
- Best, R. (2016, June 15). What’s an Average Costco Consumer-Like? (COST). Retrieved from https://www.investopedia.com/articles/insights/061516/whats-average-costco-consumer-cost.asp
- Cooperstein, P. (2013, November 22). Why Employees Love Working For Costco. Retrieved from http://www.businessinsider.com/why-employees-love-working-for-costco-2013-11
- Denman, T. (2014, June 3). Costco Employees Rave about Compensation and Benefits. Retrieved from https://risnews.com/costco-employees-rave-about-compensation-and-benefits
- Greenspan, R. (2017, February 6). Costco Wholesale’s Stakeholders: A CSR Analysis. Retrieved from http://panmore.com/costco-wholesale-stakeholders-csr-analysis
- I-sight.com. (2018). Employee Relations Best Practices: Costco’s Approach to HR. Retrieved from https://i-sight.com/resources/employee-relations-best-practices-costco/
- Rctom.hbs.org. (2015, December 8). Costco Wholesale. Retrieved from https://rctom.hbs.org/submission/costco-wholesale/
- Rctom.hbs.org. (2015, December 6). Costco Wholesale: A Warehouse Powerhouse. Retrieved from https://rctom.hbs.org/submission/costco-wholesale-a-warehouse-powerhouse/
- Short, K. (2017, December 06). 11 Reasons To Love Costco That Have Nothing To Do With Shopping. Retrieved from https://www.huffingtonpost.com/2013/11/19/reasons-love-costco_n_4275774.html