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
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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
Do you like shopping? Both Costco and Sam’s Club are very popular stores. They are both in the top ten biggest retailers in the world. They bring in a ton of money to the people that own them. They are both Warehouse Clubs, which means they are massive stores that require a membership to enter.
Costco has built a reputation of being a caring corporation1 with a low cost structure in the discount services sector. Their founder, Jim Sinegal, believed in building a business on strong ethics while offering a wide selection and great value. Costco’s vision is expressed in its code of ethics which contains five key tenets by which the company operates: Obey the law, take care of our members, take care of our employees, respect our suppliers & reward our shareholders.2 With this vision Costco has built the third largest retailor in the United States. By looking closely at the code of ethics it becomes possible to see it has built in strengths and weaknesses.
The NAADC Code of Ethics are stipulations that dictate the attitudes and behaviors of people. The NAADC Code of Ethics provides guidance for individuals in the addictions behavioral health field to perform as honest and virtuous professionals. The codes suggest identifying your own strengths and weaknesses, skills, and areas that need improvement. The NAADC codes were established to direct the members. The regulations are the criteria of behavior for addiction experts.
NAEYC Code of Ethical Conduct and Statement of Commitment (Appendix A) The administrators role in implementing Section I: Ethical Responsibilities to Children, is by ensuring that each child is in a safe and healthy environment, where each child’s needs are met. An ideal important from this section is 1-1.9, which states that each child whether disabled or not, has the same support services to succeed. This is important in the field of early childhood education, because each child has the right to learn, and succeed. It is a law that no child is left behind, and can receive the appropriate tools necessary to reach their full potential, whether disabled or not.
PART I: SHORT RESPONSE Directions: Please answer each of the following questions and provide examples from the text, if applicable. Each response should be at least two paragraphs in length and be written in complete sentences. 1. Under what conditions will an employee be likely to perceive that his or her psychological contract has been broken?
In regards to the scenario of the patient Cindy who had an affair while being married, one of the red flags that I noticed was AACC Code 1-143 counseling with family, friends and acquaintances. According to the scenario, Cindy, as well as her family, attend the same church as the counselor, but also know the counselor very well. This was a breach in ethics on the counselor’s part, because in the AACC code, it states in Code 1-143, “Christian counselors do not provide counseling to close family or friends.” (Clinton, Ohlschlager, and Hart; pg. 269). The counselor has already broken the ethics code by giving Cindy counseling advice, which is part of the AACC code 1-145 (pg.269).
The North Carolina State Board of Education outlines the professional standards to which teaches should uphold within, and even outside of, the classroom. These standards are comprised of the commitment to the student, commitment to the school, and commitment to the profession. Also, the Code of Ethics includes the professional conduct which entails, honesty, the acknowledgement of the rights of others, keeping information confidential, and compliance of criminal laws (NC State Board of Education, 1998). Ultimately, the NC Code of Ethics is a set of rules in which teachers must uphold during their career. Discussion Commitment to the Student
Planning is transforming socially, but to achieve change it has to bring together, politicians, planners, and residents (Sandercock, 2004). Citizen’s opinions and rights should be taken into consideration. It is the number one rule in the planning process for participants. It says, “recognize the rights of citizens to participate in planning decisions” (Ethical, n.d.). Cities cannot progress unless they change their ways of doing things.
4.0 Recommendations When DCC first started producing breast implants in the early 1960s, corporate culture and ethics may not have been considered as a core business objective which maybe an explanation for the issues and the litigation they faced. A company’s reputation is based on its ethical business conduct and in today’s interconnected and innovation driven economy it is increasingly imperative to understand how leaders need to think about the goals while still focusing on an ethical obligation of delivering safe products to patients. A robust code of conduct is mandatory as a basis for this. Based on the internal discrepancies it would be difficult to provide detailed justifications and practices for future projects without a revised
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
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.
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.
Furthermore, this paper will discuss some proposed solutions to the current ethical issues facing Walmart that could assist Walmart in its objective of continued growth in an ethical and sustainable manner. One of the major ways in which Walmart was able to grow and out compete its rivals was through its ability to provide retail goods to consumers at prices lower than competitors (Ferrell 407). Walmart ability to keep prices low is based on its ability to secure cheaply made goods from foreign manufacturers while also keeping the wages for its workforce low. The combination of cheaply made goods and a low paid retail staff means that Walmart can pass the savings to consumers which made it a popular retail shopping spot for lower to middle income Americans
In my paper, I will discuss ethics practices in a company, how to avoid unethical behavior, how to find unethical behavior, how to react to ethical misconduct in the business place and how an accounting professional should behave in a business organization. I will also discuss the Enron accounting fraud scandal, and how it led to the imprisonment of the CEO and CFO of the corporation. The Enron scandal let to the government intervention that resulted in the passing of the Sarbanes–Oxley Act. In 2002 that outline the ethical practices that must be met by the CEO or the CFO or officer that performs similar functions in the organization. Accounting is the system of recording and summarizing business and financial transactions and analyzing, verifying,
Introduction The key ethical issues that were presented in this case study were quality control, lack of customer care, responsiveness, and harming the customer. The Johnson and Johnson case may have been seen as a turning point due to many things the company did right. However, there were many ethical issues in this case which will be explored more throughout this paper.