Keep the whistle included but add a separate replacement Any solution that we choose should consider the highest customer satisfaction and thus provide our customers with the care, consideration, and ultimately value that they have come to rely on our company to provide. It should consider our business and shareholders and minimize the total cost to the company. I will talk about each option separately before my final recommendation. To remake the toy that has failed standards and repackage the whole collection, would provide our customer with what they ordered and keep intact the current relationship. On the down side, it is a significant enterprise and would cost a great amount of labor and time.
Additionally, Costco has a goal of 3) maintaining its employee workforce, as high employee job satisfaction has translated into exceptional customer service and low employee turnover (Costco, 2012). The three standards to be chosen would be inventory turnover, store profitability and employee satisfaction. As I noted prior, the key to Costco’s success has been its ability to acquire popular goods and sell them quickly at minimal operative cost. A measure of inventory would be able to evaluate any significant trends in goods. If the inventory were to rise significantly for any particular item, it would indicate either the item is not popular, viewed as too expensive, or may be held up, off-site warehouses (depots) However, the turnover of goods is maximized by a seven day, 69 hour work, which includes weekends.
EST1 Task 310.2.1-05: Ethical Situations in Business Western Governors University February 2, 2013 EST1 Task 310.2.1-05: Ethical Situations in Business Companies have four levels of social responsibility: 1) economic, 2) legal, 3) ethical, and 4) philanthropic. A company has to balance its duty to shareholders to make a profit with its contract with society to make socially responsible decisions. In order to increase profit, a company must understand the needs of the stakeholders and develop a coordinated plan which establishes standards within the company that can be understood and accepted by all employees; as well as supporting the needs of the community it serves. Company Q has supported the need to improve profit by closing two unprofitable stores. However, an analysis should be made regarding the need to close those stores.
My Top 10 Takeaways from Comm 101 26913146 Assignment 3 Giancarlo Gatti Comm 101, Section 101 November 28th, 2014 be Mind Map Takeaway 1 – Importance of Corporate Culture One of my most essential takeaways from Comm 101 was the concept of corporate culture. I understood that companies had to have satisfied workers to produce good results, but I never knew that companies like Zappos focused on this aspect as a framework for their entire company. When I eventually find a job, I would like to be acknowledged by my peers and be a part of a collective unit. In my opinion, workers are likelier to be more motivated when both their extrinsic and intrinsic motivations are met. One of my main takeaways from this topic is that money isn’t the best motivator.
It would be beneficial to have him take the What Time of Day am I Most Productive survey to see if his poor decision making is based on his ability to focus. The characteristics of the employees make up the characteristic of the company, and both of these are a direct reflection of their leadership. Keeping employees happy is a key element to success, as noted in (Robbins & Judge, 2011), “Therefore, companies implement programs; such as piece-rate pay where workers are paid a fixed sum for each unit production completed”. It is imperative that a company can attract and retain a skilled workforce. Ensuring that their compensation is competitive with the market and valuing the employee’s opinions are just two ways to accomplish this.
To continue to be the largest retail store, Target has to make sure that their prices are the lowest and that the products they sell meet all of the wants and needs of each customer. Quality and quantity of merchandise is necessary to make sure customers stay loyal to the company and recommend Target to others for the products and services that are sold there. (Target, 2010) Conclusion An organization must assure that each customer is happy with the products and services sell to become and remain a profitable business. Advertising and sales are important to an organization, but recognizing what a customer wants and needs is most important. If a company does not have the products to keep customers satisfied, they may not
Sinegal will not deviate from the axioms to gain a short term benefit; high stock prices are not enough to upset his customers and employees. Costco’s objectives include employee/customer satisfaction and to “sell pallets full of goods out of no frill boxes”. [xiv] The workplace is structured to have high employment retention, reliability and productivity by providing the best wage/benefits, employee empowerment and excellent communication. This works to ensure the security and longevity of the company. Its survival is
Walgreens Essay Anita Henderson BUSS460 Rich Rawlinson March 7, 2010 In his popular book about business, Jim Collins discusses ways businesses can improve their performance, making a good company a great one. This paper discusses these concepts in regard to Walgreens. Walgreens is a great company to shop for a numerous of items, but the pay scale is downgraded for the amount of business that it produces. Collins begins by dismissing a number of “myths” about what has to happen in order for a company to effect change. The myths are as follows: first, there is the “Change Program,” the idea that all change begins with some sort of “launch event” (Collins, 2001).
On November 7, 2013 I had the pleasure to hear Joseph Kinard speak about socially responsible investing. I was pleased to hear that such a concept even existed because I am a person who is always researching the products I use and trying to figure out who made them, where they actually come from, and what type of standards and morals that company has. I believe in the mission of being socially responsible while investing from a consumer standpoint and from the business angle. I understand exactly that by pleasing the customer you are bound to make more profit because there is no revenue without consumption. I loved the fact that Mr. Kinard spoke about taking care of what you have been given and gave Costco as an example.
It is our goal to position our products in such a way that our customer experience unrivaled satisfaction mentally and continue to patronize our organization despite our competitors offering. Our organizations offer a unique combination of brands and products at a good-value price. Customers are made aware of our products via numerous advertising and public relation efforts. Also, we have implemented tight control measures backed by an accurate budget to closely monitor quality and improve customer service and overall satisfaction. Table of Content Topic Page Executive Summary…………………………..............................................................2 Situation Analysis………………………………………………………………….4 - 8 SWOT…………………………………………………………………………………9 Marketing Strategy…………………………………………………………………10-12 Financial Information……………………… …………………………………..…….13