Costco's ethical sourcing goals include avoiding slave labour selling sustainable seafood avoiding conflict minerals (raw materials sourced from conflict zone countries where the materials are sold to finance the fighting groups, eg “blood diamonds”) protecting animal welfare in on-farm living conditions. Costco wholesale corp was sued for selling farmed shrimp from thailand, where slave labor and human trafficking in the fishing industry are widespread, and allegedly misleading us consumers about it a california woman filed what may be the first such lawsuit against the retailer over liability for the. Costco determined that, by this comment, curtis had violated its manager standard of ethics on may 19, 2012, curtis was demoted from optical manager to cashier two days later, curtis requested and was given a second fmla leave on june 6, 2012, curtis submitted a request to be transferred to the merrillville, indiana,. You will find our mission statement, code of ethics and standards for conduct i invite you to read those sections, as they are the cornerstones of our company philosophy costco management pledges to abide by the terms of this agreement so employees covered by it can rest assured that consistency. Another thing i've admired about sinegal's career and costco is the emphasis on ethical capitalism when you walk into the company's headquarters, the costco code of ethics is displayed it famously starts with “obey the law” that's very important because it's a big problem in retail with buyers taking.
The average costco employee is paid $2089 per hour treatment of employees 2: 90% of costco's employees have employer-sponsored health insurance costco is also ranked #19 out of the biggest 1000 corporations in the us as a friendly place for lgbtq workers treatment of employees 3: thanks to deborah, it turns. Almost everyone has heard of the membership warehouse retailer, costco wholesale, whether or not you actually choose to shop there you can find one of their warehouses in over 400 locations around the united states, as well as an additional 200 warehouses in canada, mexico, australia, the united. Costco has a rule that no branded items can be marked up more than 14 percent and no private-label brand item more than 15 percent in contrast, some of their competitors markup as much as 50 percent for products such as fashion items the policy comes directly from sinegal's belief that the path to.
“when employees are happy, they are your very best ambassadors”- jim sinegal, ceo, costco in 2008, ethisphere named sinegal one of the 100 most influential people in business ethics – he was ranked #37 the emphasis on employees at costco is the key to the company's success and ability to. Customers know it when they feel it there's something that's different about the costco wholesale warehouse experience it's the physical space, the products, the services, the people, the exclusivity the something more the average customer can't identify it, but it's the compassionate culture, the ethical. The costco model costco is often cited as one of the world's most ethical companies it has been called a “testimony to ethical capitalism” in large part due to its company practices and treatment of employees costco maintains a company code of ethics which states, “the continued success of our company depends on.
Costco code of ethics to continually provide our members with quality goods and services at the lowest possible prices in order to achieve our mission, we will conduct our business with the following code of ethics in mind:. There is not just one reason that makes us believe costco is really ethical first and foremost, the company's vision and ethical code of conduct speaks for itself seeing as though the average employee makes $2089 per hour, which is. Find a great collection of confidential ethics hotline for suppliers at costco enjoy low warehouse prices on name-brand confidential ethics hotline for suppliers products. He said the son of a steelworker, sinegal began in the warehouse business, loading mattresses sinegal's working-class values are ingrained in costco's corporate culture that may in fact be the key to the company's success our code of ethics says we have to obey the law we have to take care of our.
Costco: how our ethics evolved over the first 30 years jim sinegal co- founder and former ceo, costco wholesale march 26, 2015 raytheon lectureship in business ethics costco, cheonan, south korea. Code of ethics obey the law take care of our members take care of our employees respect our suppliers reward our shareholders mission statement to continually provide our members with quality goods and services at the lowest possible prices.
Costco has taken significant steps to ensure that its global supply chain operates in an ethical manner a crucial aspect of their social compliance program is the vendor code of conduct all of costco's vendors, suppliers, and subcontractors must adhere to this code in order to maintain business relationships with the. The costco code of ethics truly sets the costco experience above the rest costco has a vision of loyalty to its customers, employees, shareholders. Jim sinegal, the chief executive of costco wholesale, the nation's fifth-largest retailer, had all the enthusiasm of an 8-year-old in a candy store as he tore open the container of one of his favorite new products: granola snack mix you got to try this it's delicious, he said and just $999 for 38 ounces. While it does seem like consumers do a pretty good job of staying on top of their favorite retail giant to ensure that it keeps to its ethical word, it's interesting that the suit that sud and the three legal firms launched against costco and cp foods didn't name the slavery victims as plaintiffs the suit also didn't.