------------------------------------Participate in the WYD Survey by clicking here
 

------
----Home Page ----University ----Join Us ??? ----Team Info ----Xtras ----Gallery ---Supporters
Today's Quotes
Remember the difference between a boss and a leader; a boss says "Go!" - a leader says "Let's go!" ~E.M. Kelly

A chief is a man who assumes responsibility. He says "I was beaten," he does not say "My men were beaten." ~Antoine de Saint-Exupery

A leader leads by example, whether he intends to or not.

Leadership is action, not position. ~Donald H. McGannon

You can't lead anyone else further than you have gone yourself. ~Gene Mauch

The leadership instinct you are born with is the backbone. You develop the funny bone and the wishbone that go with it. ~Elaine Agather

You don't have to hold a position in order to be a leader. ~Anthony J. D'Angelo, The College Blue Book

Example is not the main thing in influencing others. It is the only thing. ~Albert Schweitzer

Leaders are visionaries with a poorly developed sense of fear and no concept of the odds against them. ~Robert Jarvik

You do not lead by hitting people over the head. That's assault, not leadership. ~Dwight D. Eisenhower

Nothing so conclusively proves a man's ability to lead others as what he does from day to day to lead himself. ~Thomas J. Watson

If two or three persons should come with a high spiritual aim and with great powers, the world would fall into their hands like a ripe peach. ~Ralph Waldo Emerson

A leader is a dealer in hope. ~Napoleon Bonaparte

Leaders don't create followers, they create more leaders. ~Tom Peters

One measure of leadership is the caliber of people who choose to follow you. ~Dennis A. Peer

A good leader is a person who takes a little more than his share of the blame and a little less than his share of the credit. ~John C. Maxwell

A leader is best When people barely know that he exists. ~Witter Bynner, The Way of Life According to Laotzu

The real leader has no need to lead - he is content to point the way. ~Henry Miller, The Wisdom of the Heart

If you wish a general to be beaten, send him a ream full of instructions; if you wish him to succeed, give him a destination, and bid him conquer. ~Augustus William Hare and Julius Charles Hare, Guesses at Truth, by Two Brothers, 1827

I am more afraid of an army of one hundred sheep led by a lion than an army of one hundred lions led by a sheep. ~Charles Maurice, Prince de Talleyrand-Périgord

A man is only a leader when a follower stands beside him. ~Mark Brouwer

I suppose that leadership at one time meant muscle; but today it means getting along with people. ~Indira Gandhi

Leaders need to be optimists. Their vision is beyond the present. ~Rudy Giuliani

A leader leads by example not by Force. ~Sun Tzu

A leader who doesn't hesitate before he sends his nation into battle is not fit to be a leader. ~Golda Meir

The best executive is the one who has sense enough to pick good men to do what he wants done, and self-restraint enough to keep from meddling with them while they do it. ~Theodore Roosevelt

He led his regiment from behind - He found it less exciting. But when away his regiment ran, His place was at the fore, O. ~W.S. Gilbert

Leadership is based on a spiritual quality; the power to inspire, the power to inspire others to follow. ~Vince Lombardi

We have great managers who haven't spent a day in management school. Do we have great surgeons that haven't spent a day in surgical school? ~Henry Mintzberg

Every leader needs to look back once in a while to make sure he has followers. ~Author Unknown

The art of leadership is saying no, not yes. It is very easy to say yes. ~Tony Blair

Leadership: the art of getting someone else to do something you want done because he wants to do it. ~Dwight D. Eisenhower

When trouble arises and things look bad, there is always one individual who perceives a solution and is willing to take command. Very often, that person is crazy. ~Dave Barry, "Things That It Took Me 50 Years to Learn"

Authority without wisdom is like a heavy axe without an edge, fitter to bruise than polish. ~Anne Bradstreet

A leader has the vision and conviction that a dream can be achieved. He inspires the power and energy to get it done. ~Ralph Nader

Inside my empty bottle I was constructing a lighthouse while all the others were making ships. ~Charles Simic

Management is nothing more than motivating other people. ~Lee Iacocca

There go my people. I must find out where they are going so I can lead them. ~Alexandre Ledru-Rollin

I am not a labor leader. I don't want you to follow me or anyone else. If you are looking for a Moses to lead you out of the capitalist wilderness you will stay right where you are. I would not lead you into this promised land if I could, because if I could lead you in, someone else could lead you out. ~Eugene V. Debs

To lead the people, walk behind them. ~Lao-Tzu

Charlatanism of some degree is indispensable to effective leadership. ~Eric Hoffer

A chief is a man who assumes responsibility. He says "I was beaten," he does not say "My men were beaten." ~Antoine de Saint-Exupery

A leader leads by example, whether he intends to or not. ~Author Unknown

Leadership is action, not position. ~Donald H. McGannon

You can't lead anyone else further than you have gone yourself. ~Gene Mauch

The leadership instinct you are born with is the backbone. You develop the funny bone and the wishbone that go with it. ~Elaine Agather

You don't have to hold a position in order to be a leader. ~Anthony J. D'Angelo, The College Blue Book

Example is not the main thing in influencing others. It is the only thing. ~Albert Schweitzer

Leaders are visionaries with a poorly developed sense of fear and no concept of the odds against them. ~Robert Jarvik

You do not lead by hitting people over the head. That's assault, not leadership. ~Dwight D. Eisenhower

Nothing so conclusively proves a man's ability to lead others as what he does from day to day to lead himself. ~Thomas J. Watson

If two or three persons should come with a high spiritual aim and with great powers, the world would fall into their hands like a ripe peach. ~Ralph Waldo Emerson

A leader is a dealer in hope. ~Napoleon Bonaparte, attributed

Leaders don't create followers, they create more leaders. ~Tom Peters

One measure of leadership is the caliber of people who choose to follow you. ~Dennis A. Peer

A good leader is a person who takes a little more than his share of the blame and a little less than his share of the credit. ~John C. Maxwell

A leader is best When people barely know that he exists. ~Witter Bynner, The Way of Life According to Laotzu

The real leader has no need to lead - he is content to point the way. ~Henry Miller, The Wisdom of the Heart

If you wish a general to be beaten, send him a ream full of instructions; if you wish him to succeed, give him a destination, and bid him conquer. ~Augustus William Hare and Julius Charles Hare, Guesses at Truth, by Two Brothers, 1827

I am more afraid of an army of one hundred sheep led by a lion than an army of one hundred lions led by a sheep. ~Charles Maurice, Prince de Talleyrand-Périgord

A man is only a leader when a follower stands beside him. ~Mark Brouwer

I suppose that leadership at one time meant muscle; but today it means getting along with people. ~Indira Gandhi

Leaders need to be optimists. Their vision is beyond the present. ~Rudy Giuliani

A leader leads by example not by Force. ~Sun Tzu

A leader who doesn't hesitate before he sends his nation into battle is not fit to be a leader. ~Golda Meir

The best executive is the one who has sense enough to pick good men to do what he wants done, and self-restraint enough to keep from meddling with them while they do it. ~Theodore Roosevelt

He led his regiment from behind - He found it less exciting. But when away his regiment ran, His place was at the fore, O. ~W.S. Gilbert

Leadership is based on a spiritual quality; the power to inspire, the power to inspire others to follow. ~Vince Lombardi

We have great managers who haven't spent a day in management school. Do we have great surgeons that haven't spent a day in surgical school? ~Henry Mintzberg

Every leader needs to look back once in a while to make sure he has followers. ~Author Unknown

The art of leadership is saying no, not yes. It is very easy to say yes. ~Tony Blair

Leadership: the art of getting someone else to do something you want done because he wants to do it. ~Dwight D. Eisenhower

When trouble arises and things look bad, there is always one individual who perceives a solution and is willing to take command. Very often, that person is crazy. ~Dave Barry, "Things That It Took Me 50 Years to Learn"

Authority without wisdom is like a heavy axe without an edge, fitter to bruise than polish. ~Anne Bradstreet

A leader has the vision and conviction that a dream can be achieved. He inspires the power and energy to get it done. ~Ralph Nader

Inside my empty bottle I was constructing a lighthouse while all the others were making ships. ~Charles Simic

Management is nothing more than motivating other people. ~Lee Iacocca

There go my people. I must find out where they are going so I can lead them. ~Alexandre Ledru-Rollin

I am not a labor leader. I don't want you to follow me or anyone else. If you are looking for a Moses to lead you out of the capitalist wilderness you will stay right where you are. I would not lead you into this promised land if I could, because if I could lead you in, someone else could lead you out. ~Eugene V. Debs

To lead the people, walk behind them. ~Lao-Tzu

Charlatanism of some degree is indispensable to effective leadership. ~Eric Hoffer

Finance
Attain the Financial Freedom

  • 102 Finance Tips

  • RBI Finance Education
  • Basic Fundamentals
  • Advanced Finance
  • Read More...
    		•
    Communication
    Communicate Effectievly

  • 10 Tips for better communication
  • Body Language
  • Online Dictionary
  • Speaking Skills
  • Art Of Asking
  • Everyone is a Sales Person
  • Executive Presence
  • Voice Power
  • Read More...
    • Business
    Get the Top Tips for Effective business launch.

  • Business Tips
  • Bad things in Business
  • Jones Soda's Secret
  • Putting Ideas To Work
  • Forces that will define companies' future
  • Top Ten Mistakes made in Business Plans
  • The 50 Critical Questions Essential to Running a Great Business
  • Read More...
    		•
    Leadership
    Who is a Leader,What makes you a Leader

  • Jack Welch Way
  • The Concept Of Winning
  • Be Candid
  • Voice And Dignity
  • Leading People
  • Read More...
    		•
    Tech Zone
    Learn cutting edge technology for a better career

  • Python Programming

  • PeopleSoft E-Site

  • JD Edwards E-Site
  • SQL Tutorials
  • Useful Softwares-one
  • Useful Softwares-Two
    		•
    Read and Get inspired
    See Today's Thought Pages


    -------- -------- -------- -------- -------- -------- -------- -------- -------- -------- -------- -------- -------- -------- -------- -------- -------- -------- -------- --------
    For Suggestions & Feedback
    Mail Us
    Today's Thought- The Costco Story
    Wednesday, December 17, 2008
    James Sinegal cofounded Costco Wholesale Corporation in 1983. During his tenure as president and chief executive officer Costco became the top warehouse-club retailer in the nation, with more than four hundred stores in the United States and abroad, amassing $40 billion in sales in 2003 alone. Known as much for his voluntarily low salary as for his insistence that adequate employee compensation was good for business, Sinegal was a controversial figure among some investors and analysts.

    Learning a Business Philosophy
    Raised in a working-class Catholic family, Sinegal once dreamed of going to medical school. Although his test scores were good, his high-school grades were mediocre; he was advised to attend San Diego Junior College, where he earned an associate's degree. Later, while working his way through San Diego State University, Sinegal discovered his true vocation: retailing. He started at the discount chain Fed-Mart as a bagger in 1954; when he received a promotion, he discontinued his studies. Under the tutelage of the Fed-Mart head Sol Price, Sinegal rose through the company ranks, eventually holding the position of executive vice president.

    He credited Price with teaching him not only the basics of retailing but also the importance of establishing relationships with customers based on trust. In an interview with Fortune, Price recalled, "We tried to look at everything from the standpoint of, is it really being honest with the customer?" (November 24, 2003). Price's other business principles had a clear influence on the culture Sinegal would create at Costco: obeying the law, taking care of employees, and keeping inventory lean. In 1979 Sinegal moved to Sol Price's next venture, the membership-based warehouse chain Price Company, also known as Price Club. Price Club was initially conceived as a provider to small business owners, but membership was quickly extended to the general public. By 1982 the company had established 10 outlets and garnered sales of $366 million.

    High Quality and Low Prices

    In 1983 Sinegal left Price Company to found Costco Wholesale Corporation with fellow entrepreneur Jeffrey Brotman. The first Costco store opened in a Seattle warehouse; like Price Club the venture charged a small membership fee to its customers. In 1993, after 10 years of success, Costco acquired Price Company.

    An Open-Door Policy
    Sinegal's management style reflected his egalitarian business philosophy. Callers to the executive offices in Issaqua were surprised to find him answering his own phone. Cluttered and furnished with a second-hand desk and chair, his office was always open to staff who wished to stop in and talk. Sinegal felt that an open-door policy throughout Costco fostered more managerial accountability. He told Ethix magazine, "If warehouse managers know that their own regional bosses have open-door policies and will talk to any employees about their issues, then they are going to be a little faster to talk to the troubled employees themselves. They don't want the problems to come back to them through their bosses" (March 2003).

    Sinegal tried to personally visit every Costco warehouse at least once a year, ensuring that every company employee would in theory have a chance to talk to the CEO himself. At the same time Sinegal was not soft when it came to adherence to company performance benchmarks. He was known for running tough budget meetings, dressing down buyers and managers who failed to meet profit-margin goals.

    WYD Team
    posted by Win Your Dreams @ 7:53 AM  
    Translate and Read
    Today's Thoughts
    Archives
    Make a Difference
    Save Energy

    Official Brochure
    Reviews
  • The Ascent of Money

  • Read More...
    		•
    Creative Commons
    Creative Commons License
    Win Your Dreams by WYD Team is licensed under a Creative Commons Attribution 2.5 India License.
    © 2008 Win Your Dreams Site by WYD Team