Corporate responsibility, in areas such as compliance, ethics, and law is very significant to the sustainability and profitability of every organization. These areas have become key factors in many of the day to day business decisions that organizations face. It is imperative that management have a thorough knowledge of business regulation and the laws that surround it, specifically in the industry in which their organization does business. For instance, companies that do business close to lakes, streams, or the ocean, must know what environmental regulations exists that pertain to pollution and toxic waste. The federal government has formed an agency that is responsible for enforcement of environmental laws. This agency is called the Environment Protective Agency or EPA. In the following paragraphs, we will discuss how regulatory risks such as tort liability can be identified and managed through certain preventive and corrective measures. Alumina Business Simulation…
Costco’s mission: “To continually provide our members with quality goods and services at the lowest possible price” directly reflects upon its business model to produce high sales volumes and swift inventory turnover through the use of low prices on a wide range of select merchandise (p. 217). Costco manages to operate with high profitability within lower gross margins due to its high volume purchasing, efficient distribution, and reduced handling of merchandise in no-frills, self-service warehouse facilities (p. 217). Costco, like…
Within business, performing environmental scans involving the comparison and measurement of external and internal business is extremely important as it helps in the strategy development process which has a direct influence on business success.…
In 1962, Wal-Mart opened their first store in Rogers, Arkansas. In 1970, Wal-Mart's first distribution center and home office in Bentonville, Ark. open and Wal-Mart went public on the New York Stock Exchange. Just nine years from that, Wal-Mart's annual sales exceeded one billion dollars. In 1988, Wal-Mart super centers opened across the country. In a merely three years from that, Wal-Mart opened their own store in Mexico City, Mexico; making Wal-Mart an international corporation. Not even sixty years has past, and yet, Wal-Mart is over-powering our country.…
Legal issues such as those listed can and does feasibly damage consumer, employee and shareholder relations with the company. This can also prevent suppliers from providing the company services and goods because the status and perceived character the company will have because of these issues. Proceeds hurt from this type of harm to these delicate associations and causes harm the integrity of the business.…
Clark, K. (2001). Two Strategies, One Popular Segment. Chain Store Age, 77(11), 56-57. Retrieved February 13, 2006, from ABI/INFORM Global database.…
McConnell, C. & Brue, S. (2004). Microeconomics: Principles, Problems, and Policies. New York: The McGraw-Hill Companies.…
1. What is Costco’s business model? Is the company’s business model appealing? Why or why not?…
How do the U.S. Federal and State Compliance laws affect the given problem and influence the solution taken by the company?…
Considering that Target is one of the largest retailer organization, there are steps that must be taken in order to continue their effective method of operating the organization. First Target will need to assess their market by analyzing their internal and external state of the business and how it affects the organization in general. Target will need to review and understand who are their customers, what strengths and weaknesses each competitor may have, and the issues, which are occurring within the world that may affect the business overall. The company will also have to…
References: {text:bookmark-start} Consumer Product Safety Commission (2005, January). Regulated Products Handbook. Retrieved October 4th, 2008, from www.cpsc.gov/businfo/8001.pdf+CPSC+regulated+products+handbook&hl=en&ct=clnk&cd=1 {text:bookmark-end} {text:bookmark-start} Jennings, M. M. (2006). Business: Its Legal, Ethical, and Global Environment (7th ed.). Mason, Ohio: Rob Dewey. {text:bookmark-end}…
We’re trying to build a company that’s going to be here 50 to 60 years from now. We believe we have an obligation to all of Costco’s stakeholders to run our business in such a way that we will achieve solid long-term results. We owe that to the communities where we do business. We owe that to our employees so that they can count on us for a secure future. We have 140,000 employees, most with families to support; that’s a significant number of people who rely on us. We owe it to our suppliers. Think about the people who produce products for us – thousands and thousands of workers who also…
3. Rust, R.T. and Zahorik, A.J. (1993) Customer satisfaction, customer retention and marketing share, Journal of Retailing…
Alongside the growing failures of manure lagoons, the manure carries bacteria and viruses that are harmful to humans if they come into contact through consumption of contaminated water. Also, according to Columbia University, "run offs from CAFOs are believed to have contributed to the dead zones in the Gulf of Mexico, Chesapeake Bay and other East Coast estuaries" (Cho). Some of the many reasons that CAFOs are causing dead zones in large bodies of water is that they can affect the life of both the humans and life in the water that is contaminated. When the water is contaminated by CAFOs there is not only a contamination of viruses and bacteria, but also of chemicals, antibiotics and hormones used in the production of meat. According to Columbia…
In this paper you will read about how Costco uses effective leaders within its company to empower their employees and create a working environment that is enjoyable. This paper will aim to answer three questions: 1.) How does the flexible leadership theory apply to Costco’s operations? 2.) What is the CEO’s role in all of this? 3.) Can this work in your organization? If not, why?…