Costco: Doing Business the Honest Way

While many companies find the need to take shortcuts and do whatever It takes to make the most profit, Cost finds the need to make its customers happy and its employees happier… And they still come out on top. Cost puts moral values above everything which only helps the company thrive more. They give every employee the same chance to rise in the ranks of the company, as well as making sure every employee makes living wage with the position they are currently in.

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The mission to provide their members with quality goods at the lowest possible price serves as another basis for how closely they compare to the Catholic School Teachings. One direct comparison between Cost and the Catholic Social Teachings is the commitment to helping the needs of others. According to the “Heritage of Nazareth” video, Both the Martinis of Nazareth and the current university of Dayton community saw the need to help others. Whether it’s helping the citizens of Dayton in the flood of 191 3, or helping underprivileged students of the Dayton area today, the university recognized the need to help the less fortunate.

Cost makes sure that hey follow these same values. According to a video on Bloomberg Businesslike, Analyst David Stresses says Quotes that if something is nine dollars, Cost will always try to figure out how they can make it eight dollars for the customer. Cost also works with charities such as the United Way, the Red Cross, and Children’s Miracle Network Hospitals to serve the underprivileged community. Along with helping others In need, Cost follows the same values as the Marshlands In the area of human dignity.

As I stated before, Cost makes sure all of TTS employees make a livable wage, as well as have an opportunity for health benefits. Recent reports state that eighty-eight percent of Cost employees have company sponsored health insurance. On top of that, the company allows employees from any position to have a chance to be promoted. It is possible at Cost to be a mere box boy and work your way up to become a future CEO without any college education. This directly relates with Marlins belief on human dignity because the company Is ensuring that each member of their community gets treated with equal respect.

Every person on their team has the potential to be as good as the next. While Cost is turning profits and making money, it is clearly visible that high finance isn’t their most important value. According to the Bloomberg article on Cost, CEO Craig Jennet accepts his salary of 650,000 dollars while Walter CEO Mike Duke accepts 1. 3 million each year. This held true with Selenga as well who only accepted 325,000 dollars. The company creates Its sustainable wealth mainly by membership fees and continues to sell the cheapest goods on the market.

One thing hat is notable about the company is that its store brand products are marked up at a maximum of only 15 percent. What the company makes off of its profits it redistributes right back into the products, which often times makes the products even cheaper to buy. According to the article, Cost sells the most quantity of one product, which allows them to buy more and more In bulk, allowing them to set the business in the most Just and honest way possible. Because Cost demonstrates moral and ethical values in its company, they renovate good business in return.