In my opitnion the most important learning outcomes for me were revolving around the various matricies used to analyze the diffferent aspects of a company.  The most important element for any company to change is the opportunity cost.  Money speaks very loud, and therfore, if an individual or organization can see that there are significant enough financial benefits to invest the time and money to change and improve, they will do whatever it takes to make it happen.  Secondly, I believe that today there are very limited ways to achieve a competitve advantage in an industry: if a firm finds a blue ocean, they may be able to expand quickly enough, and create pattents, technologies, or systems that are difficult for others to replicate, they also may have access to resources that other firms do not, either in the form of human capital, financial capital, or natural resources.  In order to maintain competitve advantage, a high barrier of entry in one way or another, is essential.

The firm I have chosen to examine, is Costco. The wholesale warehouse chain has created a niche for themselves in the market for wholesale food and household items. Costco has demonstrated ethical behavior, social responsibility, and environmental sustainment in many ways. First, Costco goes above and beyond for their employees, by starting off their entry level staff at $13 per hour and allows their cashiers to earn up to $56,000 a year in bonuses (Bart, 2018). Not only does this help the employees and their families, but it allows them to keep their people around longer. Costco also states in their mission statement that they “Obey the Law” (Costco, 2020). While this seems simplistic, it is not, it is a direct statement to all of their employees, and customers, that following the laws are important to them, and that they will not tolerate employees breaking the law in the name of increasing business for Costco. This is a big deal, as there many companies who have shown the world that they are willing to do whatever it takes to be financially successful. Lastly, Costco demonstrates environmental consciousness, committing revenue to many different research institutions that are helping to develop resources for carbon neutrality (Costco, 2020). While there is no date on how much money they donate specifically, the fact that they do and they mention it on their website, is a big deal (Costco, 2020). While Costco is not a perfect company, and they are not internationally diversified across all industries, the way they conduct business in their industry is truly impressive, and other firms should look to them as an example of how business should be done.

References:

Bart, A. (2018, February 22). Why The Costco Code of Ethics Works. Retrieved November 06, 2020, from https://www.rashmiairan.com/costco-code-of-ethics/

Costco. (2020). Sustainability and Environment. Retrieved November 06, 2020, from https://www.costco.com/sustainability-environment.html

Costco. (2020). What is Costco's Mission Statement and Code of Ethics? Retrieved November 06, 2020, from https://customerservice.costco.com/app/answers/detail/a_id/829/~/what-is-costcos-mission-statement-and-code-of-ethics