Competitive Strategy of Best Buy

1673 Words Jan 29th, 2018 7 Pages
It includes planning, organizing, staffing, leading or directing, and controlling. Resourcing encompasses the deployment and manipulation of human resources, financial resources, technological resources, and natural resources. Organizations can be viewed as systems and management can be defined as human action, including design, to facilitate the production of useful outcomes from a system. This view opens the opportunity to 'manage' oneself, a pre-requisite to attempting to manage others (ccgold, 2011).
Overview
Any organization, whether new or old, small or big, requires certain methods, procedures and plans in place for its efficient functioning. Best Buy is the specialty retailer of the decade. When it comes to customer satisfactory surveys, Best Buy is the head of the retail class-its price is lower than 10%. It has created niche segmentation to each store making the profit of the company grow bigger because diverse target markets in each location and it offers a wide market mix of services. Hereinafter, I will go through the analysis of four basic management functions to explain the competitive strategy of Best Buy.
Basic functions
The performances of organizations are greatly influenced by the management and manager's abilities to reinforce strong organization. Organizations need to run efficiently to accomplish the goals that the company has set.…

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