Tag Archive for: Jim Sinegal
Company Snapshot: At Costco, Culture is KingCase Study, Corporate Culture, Practitioner
The first of three Company Snapshots, these research-based pieces by guest author Jessica Guo look at aspects of successful companies that can be examined for strategy and information of benefit to both active businesses and the academics that study them. Additional Company Snapshots will be published on Mondays for the next two weeks.
Company Snapshots: At Costco, Culture is King
“Culture is not the most important thing in the world. It's the only thing.”
According to Jim Sinegal, founder of retail giant Costco, the company’s culture drives its business strategy. Costco’s success turns on its ability to recognize and respect what Sinegal calls “what we stand for in the customer's eyes, and what we mean to all of the stakeholders in our business.” Those core tenets include putting the customer first, rewarding its employees, and valuing its suppliers.