...Proposal Document Project Proposal This is the project proposal from Team EMC to Best Buy Bonsai for Website Project. Requirements from Best Buy Bonsai: The project proposal is based upon the requirements provided by Best Buy Bonsai as follows: Create an online website that provides online ordering and payment option, Online inventory list with photos and price Contact information and store locations listed Proposal from Team EMC Team EMC proposes to provide a website to Best Buy Bonsai by providing the following: Creating a public facing website for the company that allows online view of inventory and purchasing of products and payment option through PayPal. Provide Contact information and location of physical Stores Option for company to pay for online advertising of website Design Methodology: Team EMC will provide an Agile approach to the project with weekly iterations for Best Buy Bonsai to review each phase of the build out of the product for approval. Website Overview and Layout The URL to the website will be: http://www.bestbuybonsai.com/Index.html The website will show the following links: Home Page Link : http://www.bestbuybonsai.com/index.html The home page has links to Inventory, About Us, Payment Center and Contact us link The home page will show the name of the company Best Buy Bonsai, main phone number for the business and a Welcome message.est Buy Bonsai © 20 | 2007. Let us help you Inventory Link : http://www.bestbuybonsai...
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...ADMIN 404 STRATEGIC MANAGEMENT Assignment one Best Buy Co. Inc : Sustainable Customer Centricity Model? Executive Summary Best Buy is a multinational retailer of consumer electronics. It operates as a retail store and online operations under several brand names in multiple countries, USA, Canada, Mexico, China and Europe. In Canada it operates under Future shop and Best buy names, offering in five revenue categories: Consumer electronics, Computing and Mobile phones, Entertainment, Services and other. Best buy’s mission is to become the leading multi-channel retailer by serving their customers and making a meaningful difference in their lives. Introduction and company overview Incorporated in Minnesota USA in 1966 as Sound of Music, Inc., Best Buy today is a multi-national, multi-channel retailer of technology products, including tablets, computers, televisions, mobile phones, large and small appliances, digital imaging and related accessories. It employs approximately 140,000 full-time, part-time and seasonal employees worldwide, it offers to its employees company-paid, full benefits that vary from location to location. Best buy’s success relies on the design and execution of appropriate business strategies. Best buy’s current strategy includes transformational change to many areas of business including online and in-store customer experience, employee-engagement, partnership with vendors and cost control, these strategies were adopted since 2012 as a result...
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...Running Head: Apple Case Study Case Study: Apple Davenport University July 5, 2011 Overview When looking for great employees Apple strays away from the norm. Instead of looking for great salespeople who have a great track record of using sophisticated technology Apple has decided to do it differently. They look for people who love their product and enjoy using it. Apple is looking for people who, “isolate true enthusiasm and believe in the Apple products” (Jason Colquitt, 2011). Black cards are the new invention at this company. Apple has a new strategy to have their people hand out black cards t employees at other organizations. These cards have the apple emblem and have something written on each side. On the front of the card it has a compliment and tells them they should talk to Apple. On the back side it says how they have good customer service ideals and how if they are unhappy with their job they should contact Apple. Apple has also come out with a “store within a store” idea. They have set up shop inside Best Buy and have consultants to go to the stores and train employees about their brands and all others. Now, is their new black card strategy ethical or unethical? Should Apple offer a different training method for its employees recruited through their new black card strategy? Is there a difference in an employee’s motivation at Best Buy selling a Mac than an employee at Apple selling a Mac? Black Card: Ethical or Unethical When it comes to certain...
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...overall strategic decision and focus on how it will be done. These will be made by department directors and heads of departments. One way DSGi have done this is to try increase customer service. Another example for DSGi which Niall O’Keeffe, DSGi marketing director made, is the recent advertising campaign which featured Star Wars characters, R2-D2 and C-3PO, which was focused to highlight the dual branded Currys and PC World megastores, which have recently undergone a reformatting part of the strategic plan to raise the brands identity (Baker 2010). This advert is part of how DSGi intent to accomplish the overall strategic decision. Operational decisions are made to address present issues and focus on how resources are to be allocated best; they can be made quickly allowing the overall desired strategic outcome to be achieved. An example for DSGi could be where to put new stock in the shops; this will be different for each store so shop...
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...[pic] Group 6 RU Consulting, L.L.C Nick Morgan Laura Pynn Jennie Ramberg Brenna O’ Regan James Morrison Tweeter, etc. is an audio/video company that faced pricing strategy problems in 1993 that made the history books for adverse pricing strategies. Sandy Bloomberg formed the company in 1972 and the company faired well in the 1970’s and 1980’s. It grew to 13 stores when they implemented the Automatic Price Protection pricing strategy. This strategy nearly drove the company into bankruptcy. The company still faces unremitting problems which this paper will address. This is our proposal as RU Consulting, L.L.C. First, we will examine how the company evolved. Second, an analysis of the company’s strengths, weaknesses, opportunities and their threats will be considered and an analysis of their corporate strategies will be given. Third, we have included our solutions and recommendations for this company. Last, we would like to give our recommendation to you as the stockholder on what you should do with the stock you are holding. Tweeter started out as a small retailer of high-end audio/video equipment right outside of Boston University. This store was a success and soon expanded into 13 stores through out New England. [1] It began to get a reputation for its excellent service and quality products and sales soared. However, in the late 1980’s, the...
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...History Best Buy Co., Inc. (NYSE: BBY) began in 1966 by Richard Shultze and the original name of the company was Sound of Music. The companies name was changed to Best Buy in 1983. They had almost $50 billion dollars in revenue during 2013 with 145,000 plus employees and over 1,400 stores across the U.S and internationally (finance.yahoo.com). Their loyalty program is one of the largest in the U.S. which has more members than hotel, airline and other retailer programs and they continue to have the largest share of the electronics and appliances segment. In 2000 Best Buy decided to give Geek Squad a trial run. The Geek Squad gives computer help online, by phone, they are located in many of the stores and even make house calls to make repairs. In 2002 Best Buy merged with Geek Squad. In 2006, they created the largest repair site ever. They called it Geek Squad City and it is located in Louisville (geeksquad.com). The facility is located on nearly four acres and houses the largest concentration of Geek Squad Agents anywhere. Those that are located in this facility would include the technicians that do the repairs on all of the different types of computer equipment people may have. Best Buy is proud of its recycling program because they are the only ones that have actually made a pledge “To recycle one billion pounds of consumer electronics and appliance by the end 2014” (2014 International CES Green Guide). On average the stores can collect a little over 400 pounds...
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...Best Buy 47 of Fortune’s 500 Constance Bartram MGT 521 April 16, 2012 Louise Stelma A mutual fund manager looking to invest in Best Buy would want to know the strengths, weaknesses, opportunities, and threats (SWOT). This provides information concerning the health and stability of Best Buy. Conducting a SWOT analysis shows if the company is implementing strategies gained from a SWOT analysis. This can reveal Best Buy’s future existence and success. The mutual fund manager also needs to identify the external and internal stakeholders and how Best Buy meets the wants and needs of the stakeholders. SWOT The strengths of Best Buy include high brand recognition, affordable prices, special offers, convenient locations, and a strong online presence. Best Buy is large enough to afford marketing so that it can use prime time television and radio spots to reach its potential customers. The weaknesses of Best Buy range from impersonal customer service to costs of maintaining huge warehouses and stores. This year already Best Buy lost 1.7 billion. Recently Best Buy announced it is closing 50 of its stores and is planning to open smaller stores and work on a stronger online presence. This will help them avoid what happened to Circuit City and also help compete with Amazon (USA Today, 2012). Potential opportunities are new gadgets and electronics with the latest digital cameras, cell phones, video games, and new television models becoming more popular. If Best...
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...Best Buy Co., Inc. Sustainable Customer Centricity Model Case Study Analysis Amber Keita ADMIN404 November 16, 2013 Table of Contents Executive Summary 3 Introduction and Company Overview 4 Mandate 4 Core Purpose 4 Vision & Major Goals 5 Core Values & Guiding Principles 5 Stakeholder Analysis 6 External Analysis 7 Opportunities 7 Economies of Scale 7 Complementors 7 Global Expansion 8 Threats 8 The Internet 8 Big Competition 9 Government Regulation 9 Internal Analysis 10 Strengths 10 No Commission Sales 10 Customer Centricity Model 10 Broad Market Coverage 11 Multiple Product Lines 11 Weaknesses 12 High Debt – Low Cash 12 Pricing Pressures 12 Legal Issues 13 Short Product Life Cycles 13 References 14 Exhibits 15 Executive Summary Best Buy Co., Inc. is a leading retailer of consumer electronics in the U.S. and Canada with nearly 4,000 stores worldwide. Among the extensive range of products marketed, are mobile phones, televisions, gaming systems, appliances and computers, along with all of their components and accessories. The company pursues a differentiation strategy based on excellent customer service, no commission, highly informed sales staff, and a plethora of end-to-end services. Best Buy was started in 1966, and has acquired seven companies in the path of its growth, all of which either provide a complementary service and/or additional products for its customers. The external analysis identifies...
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...STRATEGIC MANAGEMENT Assignment 1: Best Buy Brooke Martin Date: Executive Summary (5%) Best Buy is a multinational retailer of technology, electronic and entertainment products and services, with locations in the US, Canada, Mexico, China and Europe. Best Buy operates roughly 4,000 stores in Canada, US, Mexico, China and Turkey, and they represent about 19% of the market. Best Buy as a company has expanded from what was a small retail operation to include many subsidiaries including Geek Squad, Magnolia Audio Video, Pacific Sales and Future Shop. Best Buy needs to be aware of their competition not only in terms of other large retail electronic stores, but their competition now also includes such big box stores as Walmart and on-line retailers such as Amazon.com. Best Buy has a few major challenges that they must be aware of, and continue to improve upon. Firstly, with the downturn of the economy and the consumer cut backs on spending, they must deal with consumers spending less on the products that Best Buy offers. They must focus on differentiating themselves from both physical and online retailers. This is where their customer commitment is vital to their success. Secondly, Best Buy must continue to place a large focus on their customer service, and the knowledge of their staff. Even if customers aren’t buying new products, they continue to have previously purchased products that will need to be serviced. Best Buy needs to offer a unique “shopping experience”...
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...Sears, Roebuck and Co. Overview Sears, Roebuck and Co. is the leading retailer of home appliances in the United States. Sears, Roebuck and Co. is an ideal retailer compared to its competitors, because of the consolidated approach that the company has established over the years. They are not only leaders in home appliances, but they reach consumers with different needs, such as: tools, fitness equipment, home and garden, automotive repair and maintenance, and apparel. Sears, Roebuck and Co. also provides different homes services to customers, which consist of home repair, maintenance, installation, cleaning, and home improvement. Richard W. Sears made his way into the retail industry by receiving a shipment of watches that was unwanted by a neighboring jeweler. He purchased and sold the watches Culture in business or corporate America is described as a blend of the values, beliefs, taboos, symbols, rituals and myths companies develop over time (http://www.entrepreneur.com/encyclopedia/term/82104.html). My definition of culture for organizations in business is what makes the business operate the way that it does and what strategies they use to reach their goals. Before Best Buy implemented the new plan called ROWE, the culture at Best Buy was like any other organization, come to work on a daily basis and repeat the same task over and over again. This caused a great deal of turnover within the company that needed a workable solution...
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...Executive Summary Best Buy Co.,Inc. is an American multinational consumer electronics corporation, the company was founded by Richard M. Schulze and Gary Smoliak in 1966. Globally, with over 100,000 employees, Best Buy was named “Company of the year” by Forbes magazine in 2004. The company achieved its early success by using low cost strategy. As a leading company in the consumer electronic retail industry, Best Buy understands the importance of high quality customer service. The company’s lead market position is attributed to its differentiation strategy, reputable brand name, and series of acquisition. The external analysis indicates that the highest competitive force in the company is the internal rivalry and risk of new competitor to enter into the market. The performance of Best Buy and other competitors in the consumer electronic retail industry really depends on macro environmental factors. The biggest threat that most industries in the global market are facing, is the threat caused by the current economic situation. The internal analysis indicates that strength of the company is their reputable brand name, size, and market presence. Best Buy built its reputation by offering consumer high quality service and new shopping experience. The company expands its business into different market through series of acquisition. The company’s biggest weakness is that company have too much long term debt , which could damage investor’s trust on the company’s performance. ...
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...ST. JOHN'S UNIVERSITY (NY) [pic] Best Buy Swindled Out of $31 Million Internal Control Issues Joseph Chung Professor Jay Ranade ACC 628 Internal Auditing Overview of the Case An Illinois couple allegedly swindled computer giant Best Buy Inc. out of $31 million dollars over the duration of four years (2003-2007). Russell Cole and his wife Abby was allegedly accused of masterminding a multi-million dollar online bid-rigging scheme along with former Best Buy employee Robert Paul Bossany, who pleaded himself guilty in February 2009 to 29 counts of conspiracy to commit mail fraud and money laundering. Investigators found that the Coles had reported $15.5 million dollars in income from 2003-2007, with $14.2 million suspected to be in connection with the fraud. The Chicago Tribune said that Russell Cole called his $2.75 million dollar home in Deerfield, IL "the house that Best Buy built," but was under scrutiny by investigators who claim that the money was obtained through fraud. The Coles lavish lifestyle also included owning a Ferrari coupe, a Lamborghini convertible and nine other luxury/high performance vehicles with a total worth of about $2.8 million dollars that was confiscated by authorities. The Coles' attorney told the Chicago Tribune that the Coles' "did not engage in a fraud against Best Buy...We intend, at this point, to present evidence to the contrary if they've ever charged." As for Bossany, he cooperated fully with...
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...EXTERNAL ANALYSIS FOR BEST BUY CO. INC. Introduction Best Buy Co., Inc. is a public limited company whose stocks are listed in the New York stock exchange. It is a specialty retailer of consumer electronics in United States which accounts for about twenty percent of domestic market retail business in technology based items. It has store in 24 different locations in United States (USSEC, 2011). Apart from its operations in USA, it also carries out its operations in Mexico, Turkey and United Kingdom etc. (Boyle, 2006). As of 2010, company along with its various subsidiaries operates more than one thousand and fifty stores only in domestic markets (USSEC, 2011). It is a private listed company. The stocks of the company are listed in the New York Stock Exchange under the symbol BBY. The company was ranked as a company of the year by Forbes (Tatge, 2006). It was also ranked as a “specialty retailer of the decade” (DSN, 2001). It is currently ranked at number 45 in the Fortune 1000 companies list (One Source, 2011). It is among the primary retailers of electronic goods in the United States. During the first quarter of the fiscal year 2011, it has earned revenues over six hundred million (Best Buy, 2011). SWOT Analysis SWOT Matrix The SWOT analysis of Best Buy Co. Inc. is as follows: Strengths * Market position * Networking * Profitable growth in stores business * Alliance | Weaknesses * Limited suppliers * Lawsuits * Limited geographic concentration | ...
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...Best Buy MGT/521 - MANAGEMENT BUSINESS Description Best Buy or BBY is one of the leading developers of technology products and technology services. Best Buy is broken down into two segments; domestic and international, and works under a variety of names. In the domestic region there is Best Buy, Best Buy Mobile, Magnolia Audio Video, Pacific Sales, and Geek Squad. The international regions include; Canada, China, Mexico and Europe and use the brand names; Best Buy, Cell Shop, Best Buy Mobile, Five Star, Future Shop, Connect Pro, Geek Squad, The Carphone Warehouse, Geek Squad, and The Phone House. (Reuters, 2012) Best Buy stores currently make their money in six categories: • Consumer Electronics – Video products like TVs, DVD and Blu-ray players. Audio products like MP3 players, home theater audio systems and components, • Entertainment – Video games, DVDs, Blu-rays, CDs, and computer software, • Services – Installation from home theater and mobile audio, warranties, and repair, • Computing and Mobile Phones – Laptops, desktops, tablets, and printers, • Appliances – Major and small appliances, Other – Snacks and beverages History To understand the history of Best Buy, one would have to know the history of its founder, Richard M. Schulze. Mr. Schulze and a partner started Sound of Music, Inc. in 1966 with their first store in St. Paul, Minnesota. Four years later Schulze bought out his partner and decided to expand. His first step to expand came in 1982...
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...ROWE Program at Best Buy Craig Doss John Mitchell Leadership and Organizational Behavior BUS-520 8/30/2011 Abstract Previous to the implementation of the Results-Only Work Environment or ROWE for short. Best Buy had a really high turnover rate. Jennifer Janssen works in the finance department at Best Buy. She was often called to put out fires at her job that may have required her to stay late at the risk of not being able to pick up her children. She was definitely a team player and wanted to do what she could to help the company which employ’s her. However, her demanding schedule was causing havoc or her other tasks outside of work. For people like Jennifer, Best Buy created a program where you take the time you need, come in when you want. Leave or take off if needed as long as the job was done. And while there was some hesitation and apprhension when this program was first implemented. With time people have come to value this new system and retention has improved among employees. When anyone mentions where to purchase the newest electronics, most people first thought is Best Buy. It has become a consumer favorite. Over the years, Best buy has become a household name. Best Buy is a multinational retailer of technology and entertainment products and services with a commitment to growth and innovation. The Best Buy family of brands and partnerships collectively generates more than 45 billion in annul revenue and that...
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