Can I get a summarization with bullets of the information below? Thanks!

Global Strategy, Organizational Design, and Corporate Governance

Price followed the successful formula of the 6 rights of merchandising: right time, right place, right price, right quantities and the right merchandise. In the early days they would have loss leaders placed in the entire back of the store, such as a sack of 10lb potatoes for 99 cents. This forced the customer to walk through the entire store to get the super buy. The stores would be set in a race track fashion, leading you around the entire store with massive end caps of merchandise. You would subconsciously say to yourself, If they have so much merchandise on display it must be the best price in town.

Costco is a premier company in America. They keep their cost low, by buying merchandise in huge quantities, and instead of a warehouse in their stores, store the product in rows of steel in the overhead, above the product below, making it cost effective for stocking the shelves in the morning.

Most stores now run a stocking crew from 5am until 9:45 am in the morning to replenish their shelves. The layout of the aisles allows for great flexibility. They are able to flex the seasonal merchandise at a rapid pace each season.

The stores are kept exciting for members to shop; often with new merchandise one time buys arriving daily. This is somewhat like a treasure hunt, in which customers can shop. Most of their merchandise is priced about 12% above cost, thus passing all the savings to their members. Costco takes great care of their employees and management teams, with the best wages paid in America, along with the best benefits, including being closed every Holiday, and they pay their employees for that along with 2 bonuses every year based on longevity. Most people that join Costco never leave, and retire years later from Costco.

The company's current CEO Craig Jelinek is among the best on the planet, he came up through the ranks, and actually pushed shopping carts around the parking lot in the early days. They now are a major international company with over 800 locations and potential for 800 more locations.

When you look at Costco, what you get is a couple of things.

Costco has a de facto promise to its suppliers: "Sell this to anybody else for a cheaper price, and you will never EVER sell a product at Costco again. Ever. You can sell at the same price, but not lower." Costco does a fantastic job of backing this up, but the "threat" stops there. Costco is a great partner to have and they work with suppliers to reduce inefficiencies.

Costco has a strict rule about marking products up. IIRC, the maximum markup is 15% above cost. This allows them to cover the administrative and shipping costs of that product, and then pass the savings on to customers.

Costco negotiates in bulk and they pass that demand (for buying in bulk) onto the customers who have to buy a substantial amount to gain the savings.

Costco generates revenue by its membership fee (typical warehouse clubs will have 35-50 thousand members). You have to pay to shop there.

Where Costco really generates revenue are in the ancillary services they offer (like audiologists, optometry, deli, bakery, and its numerous programs you see in pamphlets at the front of the club).

About 1/3 of Costco products are their private label brands that are manufactured for them (usually by a major brand, BTW) but at substantially lower costs for the same (or better) quality. I don't know of many "store brands" that are as much a name in quality as "Kirkland Signature".

The scavenger hunt method - by rotating merchandise frequently and providing almost no signage to find where things are located, members are forced to browse the entire store and thus, engage in impulse buying.

Incredible guarantees back up every product, which encourages people to buy "with confidence" and know that they have (basically) an "empty package. This is as follows: use the entire thing, return even the empty package and get your money back. This confidence has built a fierce brand loyalty (there are MANY things I will only purchase at Costco).

Costco Wholesale Corporation primarily has a weak matrix organizational structure. This type of organizational structure involves a strong functional structure and a secondary divisional structure. Costco Wholesale's organizational culture focuses on excellence in performance. The company believes that good enough is not enough. This characteristic of the organizational culture allows Costco to push its employees further to achieve high quality service to satisfy customers.

Costco Wholesale Corporation primarily has a weak matrix organizational structure. This type of organizational structure involves a strong functional structure and a secondary divisional structure. Traditional organizational structures come in four general types functional, divisional, matrix and flat but with the rise of the digital marketplace, decentralized, team-based org structures are disrupting old business models. Elements of organizational structure are; (1) design jobs, (2) departmentalization, (3) establish reporting relationships, (4) distribute authority, (5) coordinating activities, and (6) differentiating among positions.

Costco Wholesale Corporation (working together as Costco Wholesale and furthermore referred to just as Costco) is an American global enterprise, which works a chain of participation just big-box retail stores. Costco Wholesale Corporation's organizational design depends on the organization's present activities and areas. A company's hierarchical construction is the setup used to interconnect distinctly authoritative segments to address business needs. Costco's organizational structure reflects the organization's present market presence. Costco Corporation essentially has a weak matrix organizational structure. This sort of organizational design includes a solid functional structure and a secondary divisional structure. Through the functional organizational structure, Costco clusters workers as per business capacities, like advertising and bookkeeping.

Speaking of corporate governance, data identifying the accessibility of Costcos code of morals for senior financial officers and a list of its executive officers are known. The information required by this item concerning Costcos chiefs and candidates for chief is consolidated in this reference to the areas entitled. (September 2017)

With the globalization of the retail economy, numerous huge U.S retail organizations are opening areas in global business sectors. Costco's aggressive worldwide development is in accordance with the essential plans of many corporate stores. Prior to Costco's worldwide extension, financial bankers contemplated whether the irrationally inventive Costco retailing techniques would make a similar sort of devotee Costco Craze outside the United States. Target's exit from Canada in 2015, Tesco's closure of its U.S new and easy chain and Wal-Marts store closing in Brazil in 2016 fill in as wake up calls for worldwide retailers.

In December 2019, Costco Wholesale had more than 700 warehouses all around the world with more than 200 warehouse stores outside the U.S. These included areas in Canada, Australia, Iceland, UK, Mexico, Japan, South Korea and Taiwan. In 2019, Costco opened its first area in Mainland China.