Jim Sinegal realized that there is no need for any of its customer to go home with malfunctioned products. The company decided to offer full refunds for all its products. However, there was an exception of digitized products like TV, projectors, phones, computers and many others. Recently the company has managed to offer a 90 day period warranty. However, the company is still negotiating for a 2-year contract. The company’ s official return policy states that “ we guarantee your satisfaction on every product we sell with a full refund.
The following must be returned within 90 days of purchase for a refund: television, projectors, computers, cameras, camcorders. Touch screen tablets, MP3 players and cellular phones” . Besides this, the company has also core values which it uses. The first principle is that members of the staff are under obligation to obey the law since the law is irrefutable. For this reason as a company, they pledged to comply with all laws and other legal requirements. The other core value is that they must take care of their members. Costco membership is open to business owners in addition to individuals.
The company believes that its members are key to their success and therefore should always thrive to make them happy. The other policy is taking care of the employees. This policy state that the company has the best employees in the warehouse and therefore wishes that they commit themselves to provide them with good rewards that enable them to grow and develop their careers. The company also works on a policy of respecting their suppliers. The company believes that its suppliers are their partners in business and therefore play a major role in the company’ s success.
In order for them to succeed Costco company must ensure that they respect them and offer them quality prices too. The company also values its shareholders and believes that they are very important stakeholders. The company believes that the shareholders are their business partners and their success depends on providing them with good returns on the money they invest.
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