What Makes Cotsco the Best Place to Work and Why - Research Paper Example

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This organization provides a wide range of merchandise to its target audience. It is the third largest retailer across the globe and second largest in context of United States. In initial years the firm…
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What Makes Cotsco the Best Place to Work and Why
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Download file to see previous pages Costco operates in an industry which is highly dominated by other players. The sales breakdown structure as per global industry has been represented in figure 1.
On the basis of figure 1 it can be denoted that Costco occupies a certain portion of overall sales margin but maximum sales percentage is acquired by Walmart. Global competition is one of the driving forces responsible for shaping organizational environment. Sam’s Club of Walmart effectively competes with Costco. Porter’s five forces model is able to denote certain driving forces prevalent in the industry. Threat of substitutes is strong in this particular industry due to more product features, comparable product line, low prices, low switching costs, etc. There is intense competition prevalent in global retail or wholesale industry but Costco is able to survive through offering better quality products at low prices, addressing growing customer demand, etc. The company is engaged into offering best value and this weakens bargaining power of customers. There is low threat of new entrants in this specific industry because of lump sum investment, well established players and narrow margin for product differentiation. Suppliers usually impose lower bargaining power due to wide array of suppliers and high requirement of bulk quantities. Market saturation is another driving force that is shaping external environment of Costco. The company needs to continuously develop innovative strategies in order to remain competitive in the market place. Increasing costs is also considered to be a driving force since it is enabling substitutes to gain market presence. Costco encompasses an employee base of 195,000. These employees are not citizens of United States but belong to different country and culture. This aspect of workforce diversity is also a driving force since it influences the company to undertake decision suitable for all ...Download file to see next pagesRead More
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