Topics: QuikTrip, 7-Eleven, Strategic management Pages: 12 (4398 words) Published: September 23, 2008

A Look At Effective Management

QuikTrip: A Look At Effective Management
Overview and Management
In 2008, the 28th best company to work for according to Fortune Magazine was QuikTrip. In 2005 the 32nd largest privately held company according to Forbes Magazine was QuikTrip. QuikTrip was founded in 1958, in Tulsa, Oklahoma, by Chester Cadieux and Burt B. Holmes. Today QuikTrip employees over 10,000 employees and operates over 500 convenience stores in 9 different states. QuikTrip strives to be the best, focus long term, do what's right for QT, never be satisfied and do the right thing. The company’s success can be attributed to these core values. QuikTrip has created a competitive advantage over its competition by making a commitment to quality and to do things right. They have developed a strategy to set their stores apart from other convenience stores by hiring friendly and helpful employees, keeping their stores clean and well-lit, having fresh and easy to find merchandise, and having an overall attitude of a convenience store company doing the job right. QuikTrip has set standards for its convenience stores made up of variety, fairness, and service. QuikTrip has instilled an organizational structure based upon its core values. QuikTrip is committed to hiring team members who are on a career track and promote from within. QuikTrip has adopted a leadership policy within its management that says success comes from the top down, as well as from the bottom up. They provide training to allow each employee an opportunity to reach his or her full potential. QuikTrip incorporates the managerial term of empowerment by making each individual store its own profit center, thus allowing the employees of each store to be involved in the business aspects of that store. All efforts are focused toward making every store a successful business unit. Another strategy of QuikTrip that sets it apart from the competition is their commitment to quality in everything. They make a promise to customers with their “We Guarantee It” strategy that has been incorporated into their everyday operations. They guarantee satisfaction or they will refund your money. They go even further by guaranteeing their gasoline, which also sets them apart from their competition. They have a policy that if your car has a fuel-related problem backed by a mechanic, they will pay for the repair. This promise is once again based upon their “do the right thing” philosophy. QuikTrip has made a commitment to care about the security of their customers and employees. They have set and exceeded the standards for security in the convenience store industry. Their security operations ensure customers, neighbors, and employees have peace of mind. Another important aspect in managing a company is community support. QuikTrip makes a commitment to being a “good neighbor” in every community they operate in. They are committed the community by making their stores a safe place to go. QuikTrip also supports the local charities within the markets of their convenience stores. QuikTrip currently sells 1.7% of U.S. fuel volume with only 0.002% of the convenience store market share. They sell 2.7 billion gallons of gasoline on a yearly basis with roughly 500 convenience stores nationwide. The success of the company is attributed to management’s strong commitment to be the best. As laid out in the company’s mission statement: "To be the best gasoline, convenience, and food retailer in the eyes of our customers, our competitors, and our employees." QuikTrip has set itself beyond the competition and has became a top convenience store in its markets. Values, Attitudes, Emotions, and Culture

QuikTrip inspires both job satisfaction and organizational commitment in employees. This means employees are more likely to “go that extra mile”, and are less likely to quit their jobs. Employees are...
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