Using Analysitcal Tools to Improve Business Sustainability

At Costco, VIZIO relied extensively on consumers to purchase their product without any assistance from salesman whom would either influence or steer the consumer during the sales. Because of their low brand awareness, they strategically placed their products on conspicuous display, right at the entrance at the stores, to catch the customers’ attention, but more importantly because their shoppers fell into the market segment target by VIZIO, 35+ years, wealthy, and with disposable income.

Like any successful business, Best Buy has to be on the cutting edge to succeed in today’s market. They do this by exploring what technologies and services other companies display all around the world. Best Buy also pays attention to the changing of times, realizing what’s dated and what is on the cutting edge.

Sustainability from a strategic business perspective is the potential for the long-term well-being of the natural environment, including all biological entities, as mutually beneficial interactions among nature and individuals, organizations, and business strategies. (O.C Ferrell, Fraedrich, Ferrell, 2015). Business sustainably is often defined as managing the triple bottom line – a process by which companies manage their financial, social and environmental risks, obligations and opportunities. These three impacts are sometimes referred to as profits, people and planet. (Business sustainability definition from financial times lexicon, no date). This essay will discuss the idea of sustainability being an important element within a businesses and its core strategies and the importance of it within different businesses. Secondly, this study will look at how different stakeholders are affected and influenced by sustainability as this could be seen as a catalyst to improving the environment as a whole and. Then this study will look at how businesses not focusing

Prior to making a decision, people never obtain all of the information available or possible to obtain. For example, all prefer low prices to higher prices for a given purchase, but we never canvass all prices. In choosing a mate, we never obtain all the information about our prospective spouse. In these and other decisions, we decide that a given amount of information is "enough" and we search no more.

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.

“We enable consumers to improve the quality and convenience of their lives by providing innovative electronics solutions.”

In sustainability: The New Holy Grail, Miller argues that people who question the United States ability to become more sustainable devalue American innovation. The arguments made throughout his article however seem one sided and aggressive. Millers out view on things are from a religious outlook making his points seem unreliable.

Banning (2008, p ) states knowledge for decision making is obtained from many sources and has been described as both informative

Established in 1949 and headquartered in Richmond, Virginia, Circuit City operates as a specialty retailer of entertainment software, home office products, consumer electronics, and related services (“Company Overview of Circuit City Stores Inc.,” 2014). Aside from its superstores in the United States, Circuit City also offers brand-name and private-label electronic products in Canada. The company has retail stores, dealer outlets, and also operates a website. Business ProblemThe main problem that Circuit City experienced was the lack of IT capabilities in their operations, which prevented the company, particularly its salespeople, from efficiently and effectively addressing the needs of the customers, leading to customer dissatisfaction.

In this research paper I will describe the history of Circuit City business, who are their competitors, and when the company started and failed. In addition, research will state the company’s vision and background information. Circuit City started in 1949 selling television out of a small town in Richmond, Indiana. It was started by Samuel S. Wurtzel who opened the first Wards Company retail store that quickly turned into a national store chain. The Wurtzel first experiment was in the early 1940s, after World War II, in which he introduced a new entertainment device. By introducing the this new entertainment device in 1949 had tripled in the number of TV stations in the United States. Wurtzel had a friend who knew someone at Olympic Television that was a small manufacturer in Long Island City, NY.

Improving your understanding of your own decision-making process can boost the understanding of these complex frameworks and how they relate to each other. The more you understand about your personality and ability to make decisions, the better you will become in using your strengths to your advantage.

PCL is a European consumer electronics and healthcare company that has recently entered China. They have a wide variety of televisions, DVD players, PC monitors, audio products and PC peripherals. PCL is able to compete within the consumer electronics market as they have low prices and a large network of distributors. PCL uses innovation to stay ahead of competitors and keep up with the latest technologies. PCL is currently in the growth stage and they need to maintain continuity. PCL organizational objective is to implement controls without having a detrimental effects on relationships with chain retailers and dealers. PCL

One of the most powerful marketing trends currently is the shift from product-oriented approach to customer-oriented approach in most industry sectors. Companies direct their attention to customer satisfaction and the ability of companies to track needs and expectations of its customers and to respond to them timely and qualitatively, to transform all the business processes in such a way that in focus

New ventures are more likely to fail than they are to succeed. That said, most startups in Ghana fail. In fact, almost 9 out of 10 startups fail most especially due to lacking a need on the market, running out of cash and not building the right teams. This goes a long way to buttress the point that a great product idea and a strong technical team are not a guarantee of a sustainable business. It is very easy to for individuals in a startup to ignore the business process and sustainability of a company because it is not their job. More often than not, technology startups fail due to superior competition. During my experience working as a Software Engineering Intern in a local startup in Ghana, I realized that the failure of most tech startups can be can be duly addressed by inculcating proper economic and social sustainability practices which nurtures and supports innovation in the technology industry.

Can make decisions about whether or not to proceed with a decision based on analysis of a certain scenario.