Best Buy Analysis

12719 WordsMar 27, 201451 Pages
Table of Contents 1. Executive Summary 3 2. Situation Analysis 4 a. Company 4 i. History 4 ii. Best Buy Today 7 iii. Best Buy’s New Leadership 8 iv. Organizational Structure 10 b. Best Buy’s Industry 18 c. Best Buy’s SWOT Analysis 19 i. Porter’s Five Forces 20 d. Capabilities and Processes 22 3. Customers 23 4. Products and Services 27 5. Industry Context 30 6. Best Buy Competitors 32 a. S.W.O.T. Analysis of Competitors 32 i. RadioShack 33 ii. Game Stop 35 iii. Staples 36 7. Financial Ratios 38 8. Collaborators 38 9. Growth Strategy 39 a. Goals and Objectives…show more content…
Best Buy understands the products they sell and the services they provide connect the world. Best Buy additionally, strives toward the pursuit of happiness; this corporation has the unique ability to make its people happy.2 Best Buy presents a great place to work, and happy workers make customers happy. Correspondingly, Best Buy’s is also influenced by its corporate values that guide the company actions and affect its company image. These values include: 1.) Have fun while being the best, 2.) Learn from challenge and change, 3.) Show respect, humility, and integrity, and 4.) Unleash the power of their people.3 Best Buy has business objectives to grow in market share, connect digital solutions, international growth, and to operate as an efficient and effective enterprise. Brief History Best Buy began its operations in 1966, Richard Schulze and Gary Smoliak founded Sound of Music Inc. Originally, this company started as a car audio specialty store, however, in 1971; Schulze bought out Smoliak and began expanding the stores retail to electronics. By the early 1980s, Schulze broadened the product line to include consumer products such as appliances and VCRs to access a wider customer base.4 After almost 20 years of steady operations, Sound of Music officially adopted the name Best Buy and launched its first superstore in 1983. The super store concept allowed Best Buy to expand rapidly

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