1a) Costco’s CEO stated that the vision for Costco was to give customers the best possible value for their purchase while remaining ethical.
1b) What is the mission?
1b) Costco’s mission is to ensure customers, employees, suppliers, and shareholders were respected and treated fairly to ensure the best outcome of product delivery at low costs to the customer.
1c) Are they realistic?
1c) Costco’s vision and mission are realistic because they focus on basic fundamentals of business strategy: positive communications and actions focused on stakeholders. The vision and mission are attainable without extravagant financial or strategic requirements.
2a) What are the financial objectives?
2a)The financial objectives are to increase internet sales and preserve low operating costs to increase revenue as well as expanding by opening new stores.
2b) What are the strategic objectives?
2b) The strategic objectives are all related to stakeholder satisfaction, from customer to shareholder. Costco keeps customers satisfied by offering high quality products in wide varieties at low prices and employees happy with good jobs.
2c) Are they realistic?
2c) Costco’s objectives are realistic because they emphasize maintaining good relationships with current customers and employees to avoid costly turnovers which hinder future net income possibilities.
3a) What is the Major Strategy?
3a) The major strategy for Costco is to provide low cost high quality products to consumers in bulk amounts.
3b) What are the supportive Strategies?
3b)The supportive strategies include ensuring stakeholders are content and that employs are only second to customers in the stakeholder priority list.
3c) Was there are strategic inflection point?
3c) Costco’s strategic inflection point occurred when it merged with Price Club in 1993. This ensured the company’s expansion.
4) Were there problems in implementation?
4) Implementation may be an issue when