Content area
Full Text
No matter how big a company gets, it must maintain its core values and its culture or it could fail, Craig Jelinek, chairman and CEO of Costco Wholesale Corp., said in a speech Monday.
"Companies sometimes lose their way because they lose their core values and culture," he told the Western Association of Food Chains at its annual convention in Palm Desert, Calif. "Your business can evolve, but it can't afford to lose its values and its culture."
He said executives who join Costco from other companies "tend not to do well at Costco because they don't understand the culture. Most of our managers and executives started out in the warehouses and we like to promote from within because it's difficult to understand how what you do affects the warehouse unless you've worked in one."
No...