Updated May 08, 2012James Sinegal was the co-founder of Costco discount warehouse stores in 1983, and he has been the retail chain’s leader and CEO ever since. Sinegal has kept the company strong against stiff competition from companies like Wal-Mart and BJ’s Wholesale with long-term strategic planning, and solid retail operations tactics.
What follows are quotations from James Sinegal which reveal the beliefs and philosophies that guided him as he was building one of the world’s largest and most famous retail chains.
Click to get Inspired Insights Quote of the Day via e-mail >>
Quotable Quotes From James Sinegal, Co-founder and CEO of Costco, About Long-Term Strategic Planning and Retail Operations Tactics:
"I think the biggest single thing that causes difficulty in the business world is the short-term view. We become obsessed with it. But it forces bad decisions."
- "Wall Street is in the business of making money between now and next Tuesday. We're in the business of building an organization, an institution that we hope will be here 50 years from now. Strategic planning is an important part of running any business and the more so for businesses that operating in multiple states and countries."
- "We're not kamikaze pilots. We want to do things in a sensible fashion. If we can speed up our growth, without outdistancing our management team, and provide a quality product, then we will do so."
- "Technology has made us much more productive. With computers, fax machines, and cell phones we have more productive time during the course of the whole day and can react to situations more immediately. Sometimes we have so much information it’s more than we can deal with."
- "Technology helps us become more efficient and productive but our business still has a lot of art as opposed to strictly science."
- "The reason that the dot-com companies didn't succeed is that they were very good at the science end but they didn't understand anything about the art of buying and selling merchandise. They thought that was the easy part but it turned out to be the most difficult."
- "We only have one bullet in our gun, the right product at the right price."
- "This is almost like show business. I mean, every day you're opening up and it's show time."
- "If you’re a big-picture guy, you’re not in the picture. Retail is detail."
- Abercrombie & Fitch CEO Mike Jeffries Quotes About Sexualizing a U.S. Brand
- Amazon CEO Jeff Bezos Quotes About Customer Service Strategy
- Apple Founder Steve Jobs Quotes About Innovation
- Borders CEOs Quotes About Turnarounds and the Borders Brand
- Costco CEO James Sinegal Quotes About Strategic Planning and Operations
- Dell founder, Michael Dell Quotes About Work Passion and Career Purpose
- General Motors CEO Edward Whitacre Quotes about Recovering From Bankruptcy
- IKEA Founder Ingvar Kamprad Quotes about IKEA Retailing and Management
- JCPenney Founder James Cash Penney Quotes About Principles in Business
- McDonald's Founder Ray Kroc Quotes About Building a Fast Food Franchise
- Starbucks CEO Quotes About Building a World Class Brand
- Subway Founder Fred DeLuca Quotes about Leading the World's Largest Franchise
- Wal-Mart Founder Sam Walton Quotes About Retailing
- The Walt Disney Co. Founder Quotes About Starting a Business and Entrepreneurship
- Whole Foods Co-Founder John Mackey Quotes About Health and Healthcare
- Humorous, Inspirational, and Motivational Quotes from Retail Founders
- L.L. Bean, Ralph Lauren, & Lillian Vernon Quotes & Philosophies Behind the Brand
- Quotations About Leadership character from Coach John Wooden
- Quotes About Motivation From Famous Leaders and Achievers