Costco's management style and how the business operates Research Paper

Costco's management style and how the business operates - Research Paper Example With due regard to the managerial functions and their necessities within an organization, the primary objective of this paper is to demonstrate the fundamental roles and functions of managerial functions that are practiced by Costco Wholesale Corporation (Costco) in the global retail industry (Lewis, Goodman, Fandt & Michlitsch, 2007). Costco is globally well-known for its extensive operations of retailing broad assortment of products for different group of customers across the globe. The organization principally involves a membership warehouse facility that is dedicated to provide extensive collection of quality based merchandise to its global customers in a best possible price. Currently, Costco can be observed in more than hundreds of global locations with a wider range of merchandise, convenient specialty departments as well as elite membership services serving different group of global customers (Costco Wholesale Corporation, 2013). Therefore, the main purpose of this report is to reveal the managerial functions including planning, organizing, leading as well as controlling performances of Costco in its global business operations. The managerial functions are regarded as the pivotal factors that significantly direct an organization to accomplish its broad array of business practices. According to the rapid development of the global business environment, the organizations seek to achieve better control of its range of activities to remain competitive. With this regard, it is highly essential for an organization to incorporate an effective set of managerial functions for the purpose of strengthening and developing its operational as well as managerial capabilities through designing effective set of planning, organizing, leading as well as controlling functions (Costco Wholesale Corporation, 2012). This can be better understood with the help of the following pictorial illustration. In relation