[SOLVED] The retail giant Costco Wholesale
Porters 5 Forces Model VoiceThread
VoiceThread Assignment 1
(Week 1)
- Watch the YouTube Video
- Study the 5 Forces Model Diagram on the last slide
- All commenting must be done on the last slide
The retail giant Costco Wholesale has dramatically changed the traditional way retail operations are operated. Costco’s transformative business style has led other competitors to reevaluate their long-standing and somewhat outdated ways of doing business. This has also had a significant impact on the behavior of the buyers of their products and services. Costco has undoubtedly been a disruptive force in retailing and has set the stage for other businesses to copy their successful formula. In addition to creating an innovative business model, Costco successfully marketed its brand by translating its vision into a practical reality. They also have leveraged technology in their business processes to streamline operations and gain a competitive advantage.
Please research and answer the following questions to generate a thoughtful discussion:
- Explain why it is essential for Costco’s corporate accounting, marketing, and operations management business units to access and analyze information about individual store sales.
- Explain how systems thinking supports business operations and how MIS solves the issue with information silos throughout Costco’s entire worldwide organization.
- Only members of Costco can purchase products at Costco. Which of Porter’s Five Forces did Costco address through the introduction of its members-only program?
- How is Costco addressing the other Porter forces?
- Which of the three generic strategies is Costco following? What is their rationale for pursuing this strategy?
- Explain why competitive advantage can only be temporary
Your first comment must be a video comment and be up to 5 minutes; while fully explaining your responses. Please reply to your video comment with a text comment, which will have the full hyperlink (s) you used to support your research? (Due: Saturday, June 4).
A second comment should be made using a microphone (or video) and reply to a classmate. Your analysis should “add value” to the discussion and not merely repeat your classmate’s response or only tell them what a great job they did or leave questions for them.
Your reply comment should be no more than 5 minutes and completed no later than Sunday (June 5). Don’t wait till the last day/hour to submit as these comments generally are rushed and do not earn good grades. When replying to a student, please mention their name. Check and correct your closed captions (especially for classmates’ names and terms!).
Review the additional attached document included in the assignment of the requirements and checklist.
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