Organizational Structure Of Best Buy Co., Inc.

A staffing strategy is a key to the success of an organization. When the staffing technique in an organization is well handled, the company ends up with effective workers that serve the organization with a purpose of success. When the staff of an organization is well sourced and properly motivated to work for an institution, they, in turn, give excellent services and are key to customer satisfaction and retention.

Best Buy’s History & Main Characters: Best Buy is Minneapolis-based and is North America's leading specialty retailer of consumer electronics, personal computers, entertainment software and appliances. Throughout Best Buy's 37-year history, the company has maintained the tradition of making life fun and easy for customers and employees, while providing a significant return to partners and investors. It has 80,000 employees and over 550 stores in the U.S., in addition to the brands Best Buy Canada, Future Shop and Magnolia Hi-Fi. Their leadership is led by Dick Schulze, Founder and Chairman, Brad Anderson, Vice Chairman and CEO, Al Lenzmeier, President and COO, and Darren Jackson, Executive Vice

Best Buy Co., Inc. is a multinational company in the United States and it deals, with consumer electronics, and accounts 19% of the business. The company also operates in Mexico, Puerto Rico, China, and Canada. Some of the subsidiaries of the company include CinemaNow, Geek Squad, Pacific Sales, and Magnolia Audio Video and operates in both Future Shop label, and Best Buy in Canada. Best Buy Co. Inc and its subsidiaries operate more than 1,150 stores internationally and domestically. The company also operates more than 100 “ZoomShops” or Buy Express Automated retail Stores, operated by the Zoom Systems, in both malls and airports in the entire country of the U.S. The company is headquartered in Richfield, Minnesota, U.S (Scott,

Costco Wholesale Corporation’s organizational structure is based on the company’s current operation and locations as well as the market. The organization structure is the shape to connect different organizational components to address the business needs. Costco’s organizational structure active enables the management of operations in different markets. Even though Costco is the biggest membership warehouse club in America, and designed it structure for success in the management of it business in the U.S. and overseas. Costco would have to change its organizational structure within time to suit the expanding global operations.

Best Buy is a multinational retailer of consumer electronics, computing and mobile phone products, entertainment products, appliances, and related services. The company operates retail stores and call centers and conducts online retail operations under a variety of brand names such as Best Buy, Best Buy Mobile, The Carphone Warehouse, Five Star, Future Shop, Geek Squad, Magnolia Audio Video, Pacific Sales, and The Phone House (Bestbuy.com, 4). The domestic segment consists of all operations within the United States, while the international segment includes all operations in Canada, Europe, Mexico, and China. The Best Buy 's success is contingent on the market 's demand for electronics. The company 's strategy is to provide good customer service combined with lower prices (news.cnet.com). Best Buy 's success is directly related to economic conditions, the cost of goods, and other things like fuel prices. The company 's strategy depends upon the ability to offer customers a broad selection of name-brand products; therefore, leading its success to depend upon satisfactory supplier relationships (Bestbuy.com, 8). Best Buy, as it is included in the retail segment, is a seasonal store. Their stronger quarter is the fourth quarter, which they can contribute to the holiday season for their success.

- Best Buy tap on the reputation of Jiangsu Five Star Appliance Company because it is the largest retailers of consumer electronics and appliances in China.

In 2002 Best Buy opened 8 new stores In Toronto, this was to expand the company into Canada. While all this was happening, Schulze turned over his CEO job to Vice-Chairman Brad Anderson. Anderson also was the president and chief operating officer since 1991 and was with the company since 1973. Schulze remained involved with the company he created as chairman and he was still the largest shareholder owning nearly 17 percent. Best Buy opened many stores around the world, and in 2003 they had more than 600 stores around the world. Their store sales increased 7.1 percent in 2004 making their revenue rise 17 percent, reaching $25 billion, and a net income of $705 million.

In the international segment each of the nine European countries run their operations at a smaller level than the Best Buy branded stores but the rest of the branded stores in those territories run an operating model similar to that used in the U.S. stores. The only differences would be in Canada and China where Best Buy runs and supports two principal brand companies. In Canada the Future Shop stores “Have commissioned sales associates who take a proactive role in assisting customers and driving

The consumer electronics giant, Best Buy, was first established in 1966 with a single location and a staff of three in St. Paul, Minnesota, selling audio equipment targeted at 18-25 year old males. Initially Sound of Music/Best Buy grew through acquisition, expanding to nine locations in the Twin Cities area by 1978. The name, Best Buy, and expanded product line, ranging from audio and video equipment to large appliances, were a result of a “best buy” sale of damaged inventory at bargain prices in 1981. In the mid-1980s, Best Buy launched superstores similar to those of their main competitor, Circuit City and expanded by 15 stores between 1985-86. In 1989, Best Buy launched itself as a

Best Buy Inc. has built a reputation as a ground-breaking retail giant. It is known as one of the first “big box” stores in

According to Kotler, P. & Keller, K.L, Best Buy is the world’s largest consumer electronics retailer, with $34.2 billion in sales in fiscal 2009. Thanks to its expansion and risk decision, Best Buy was able to increase sales. One example is putting staff on salary instead of commission pay. With this decision, the results created a friendlier atmosphere and low-pressure shopping. Moreover, Best Buy faced new competition like Costco and Walmart. What made Best Buy distinguished from the new competitors was the implementation of a selling product services. Focusing on providing customer services, and offering personal services like installation and at-home delivery.

Best Buy is the largest North American consumer electronics and appliance retail store. Beneath the direction of Brad Anderson, the CEO in 2006, Best Buy experienced some of its hardest times. There were countless forces and factors that contributed to the difficulty faced by Best Buy. The first major problem to be pointed out is that Best Buy is losing immense market share to Amazon, which had led to a practice of “showrooming” (Best Buy, 10). This term means customers are coming to view the product at Best Buy, and then proceeding to buy them online at a cheaper price. Resulting in these competitive prices taking away sales from Best Buy.

Best Buy was once the “go-to” store for electronics. This organization expanded from the U.S. market to a multi national retailer in 2001. Best Buy has squashed its competition for over four decades. Circuit City eventually declared bankruptcy, while Fry’s Electronics and Hhgregg are minor players in the electronic retail market. With the advent of e-commerce, as opposed to brick and mortar competition, Best Buy has been struggling to compete in a new marketplace. This paper will discuss the three different

Richard M. Schulze founded Best Buy with business partner James Wheeler when they opened “Sound of Music,” an audio specialty store located in Saint Paul, Minnesota in 1966. In 1967 Sound of Music acquired Kencraft Hi-Fi Company and Bergo Company, which led to a second and third store opening near the University of Minnesota and in downtown Minneapolis. The Sound of Music ended its first year with gross sales of $173,000(USD). In 1969 Sound of Music stock was first traded as a publicly held company and in 1970 they hit the $1 million mark in annual revenues. In 1983, Sound of Music’s board of directors approved a new corporate name: Best Buy Co., Inc. The name resembled its marketing strategy: Whatever the product, it

In 1966, Richard Shulze opened a small business in St. Paul, Minnesota called Sound of Music. In the next 17 years Shulze's small store rapidly grew into a multi-million dollar outfit. In 1983, Sound of Music changed its name to Best Buy Co., Inc and the first superstore was opened in Burnsville, Minnesota. With the new name the store also began carrying more name brands, appliances, VCRs and offering central service and warehouse distribution. Throughout the nineties Best Buy became pioneers in offering the newest technology such as DVDs and high definition TVs. In 1999, Best Buy and Microsoft combined to cross promote each other and also offered a two for one stock split. Now in 2005, almost 40 years after the first store