Corporate Social Responsibility (CSR) Report on COSTCO

Table of contents

Costco wholesale corporation is an American multinational company which only works in membership of warehouse clubs. As of 2015, Costco was the second largest retailer in the world after Walmart.

The Costco Canada corporative office is located at 415, west hunt club road, Ottawa, ON, K2E1C5, CANADA. In Canada, around 100 stores are available, that provides the facilities in every state and most of the cities.

Costco follows its history back to 1976, when Sol Price, a pioneer in distribution center club retailing, opened the primary Price Club in San Diego. Jeffrey H. Brotman and James D. Sinegal opened the first Costco in Seattle in 1983. The Price Company and Costco consolidated in 1993 to progress toward becoming Price/Costco. In 1997 the corporate name was changed to Costco Companies, Inc., and in 1999 the present corporate name was received. In the mid 21st century the organization worked stores in the United States, Canada, Mexico, Europe, the Far East, and Australia. (Robert Lewis)

Competitors:

Walmart, Amazon, Home Depot, The Kroger Company, Target are the competitors of Costco.

Products:

Costco is the best retailer for good quality of beef, rotisserie chicken, organic food and wine competition in the world. Costco’s ‘Kirkland Signature’ store brand was named based on the company’s current headquarters, Kirkland, Washington. Costco also provides many products of Kirkland signature, like Starbucks’s coffee, Huggies’s diapers, Vodka etcetera and they provide the facility of low-price vehicle gas. It also offers the best deals on expensive jewelry like gold, diamond etcetera. (Wikipedia)

Corporate Social Responsibility and Ethics:

Costco wholesale corporation has a quantity of key corporate social responsibility programs that successfully dialogue the interests of its investors. The company and these investors significantly affect each other. Costco wholesale company provides the best quality of products at a low price. It is necessary for Costco to ensure that its corporate social responsibility efforts directly address the stakeholders’ concerns. (By CSR: Corporate social responsibility is a kind of international commercial approach that adds responsible advancement by conveying economic, social, environmental benefits for all partners. Corporate social responsibility is a clue with practices and numerous definitions. CSR is an extremely spread-out idea that tends to different subjects, for example, human rights, natural impacts, corporate administration, working conditions, wellbeing and security and commitment to financial improvement. (Financial Times)

Business Ethics:

Business Ethics is a type of related morals or expert ethics, that looks at ethical standards and moral or ethical issues that can emerge in a business situation. They help those organizations keep up a superior association with their partners.

There are so many benefits provided by Costco to the businesses, consumers, and society in general. Costco provides the lowers prices of every product to subscribed members and it helps to save a lot of money. Consumers get a variety of single product at the cheapest price. These wholesale stores are also beneficial for businesses. Costco provides the platform to many brands and products which helpful for the business sector and it increases the economy of the commercial sector. It is also very beneficial for society. Costco helps to increase the economy of the country and it gives jobs to many unemployed people and gives a higher amount of salary according to their post of the study and experience.

Initiatives:

  1. Costco has to decrease the rates of the membership plans. Because of most of the people unable to get the membership of the Costco.
  2. Costco should setup the more gas station to reduce the rush of fueling vehicle.
  3. Costco has to use the signboard of all different product in the whole store.

To conclude, Costco Wholesale Corporation is the best store to get any type of products at low prices as compared to market prices. It offers fresh food and vegetables which are very healthful for consumers. Efficient prices attract people to shop more and more from Costco. The planning and the business structure of Costco effects many other companiesh.

References

  • Wikipedia. Retrieved from: https://en.wikipedia.org/wiki/Costco
  • A CSR Analysis (By Roberta greenp): http://panmore.com/costco-wholesale-stakeholders-csr-analysis
  • Encyclopedia Britannia: https://www.britannica.com/topic/Costco
  • Financial Times: http://lexicon.ft.com/Term?term=corporate-social-responsibility–(CSR)

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