[R-Eng-10-A-day] The Costco Story
In less than two decades, Costco has transformed the retail world.
The Costco story begins in 1976, when entrepreneur Sol Price introduced a groundbreaking retail concept in San Diego, California. Price Club was the world’s first membership warehouse club, a place where efficient buying and operating practices gave members access to unmatched savings.
At first, Price Club was limited exclusively to business members, who could purchase a wide range of supplies and wholesale(批發) items. Jim Sinegal, the executive vice-president of merchandising(銷售), distribution and marketing, was instrumental(儀器的) in fine-tuning the merchandise and marketing strategies, helping to turn Price Club into a success story that changed the face of retailing worldwide.
Seven years later, Jim Sinegal channeled his expertise(專門知識) into co-founding Costco Wholesale with Jeff Brotman, and together they opened the first warehouse in Seattle, Washington in 1983.
Over the next decade, both Price Club and Costco Wholesale continued to innovate and grow, and in 1993, the two mega-retailers merged, creating a gifted leadership team that soon made Costco the world’s most successful warehouse club.
Today, as the company evolves, it stays true to the qualities that helped attract and retain millions of loyal members around the globe:
Commitment to quality. Costco warehouses carry about 4,000 SKUs (stock keeping units) compared to the 30,000 found at most supermarkets. By carefully choosing products based on quality, price, brand, and features, the company can offer the best value to members.
Entrepreneurial(adj.創業的/ɑntrəprəˋnjʊrɪəl/) spirit. Throughout(prep.（表示時間）自始至終) the decades, the entrepreneurial drive for excellence has continued to define Costco staff at every level. From its management team to the people on the warehouse floor, everyone is united in a common goal to exceed member expectations.
Employee focus. Costco is often noted for being much more employee-focused than other Fortune 500 companies. By offering fair wages and top-notch(頂尖的) benefits, the company has created a workplace culture that attracts positive, high-energy, talented employees.
Costco serves more than 10 million members across Canada, and is one of the nation’s largest retailers, averaging CDN$15 billion in sales per year.
TOP
Costco Code of Ethics
To continually provide our members with quality goods and services at the lowest possible prices. In order to achieve our mission, we will conduct(引導) our business with the following code of ethics in mind:
Obey the law
The law is irrefutable(adj.無可辯駁的)! Absent a moral imperative(adj.必要的n.必要的事) to challenge a law, we must conduct our business in total compliance(n.服從) with the laws of every community where we do business.
Take care of our members
Costco membership is open to business owners, as well as individuals. Our members are our reason for being – the key to our success. If we don’t keep our members happy, little else that we do will make a difference. There are plenty of shopping alternatives for our members, and if they fail to show up, we cannot survive. Our members have extended a trust to Costco by virtue(n.美德) of paying a fee to shop with us. We will succeed only if we do not violate the trust they have extended to us, and that trust extends to every area of our business.
Take care of our employees
Our employees are our most important asset(財富). We believe we have the very best employees in the warehouse club industry, and we are committed to providing them with rewarding challenges and ample opportunities for personal and career growth. We pledge(n.v.保證) to provide our employees with:
Competitive wages
Great benefits
A safe and healthy work environment
Challenging and fun work
Career opportunities
An atmosphere free from harassment or discrimination
An Open Door Policy that allows access to ascending(adj.上升的) levels of management to resolve issues
Opportunities to give back to the community through volunteerism and fundraising(n.籌款)
Today we have location managers and vice presidents who were once merchandise(n.商品) stockers and service assistants or who started in clerical(adj.文書或辦事員的；教士的) positions for Costco. We believe that Costco’s future executive officers are currently working in our Warehouses, Depots and Buying Offices, as well as in our Home and Central Offices.
Respect our suppliers
Our suppliers are our partners in business, and for us to prosper as a company, they must prosper with us.
Reward our shareholders
If we follow the four principles of our Code of Ethics throughout our organization, then we will achieve our fifth principle and ultimate goal.