This website uses cookies to ensure you have the best experience. Learn more

Analysis For Best Buy Company

9866 words - 40 pages


1.0 Executive Summary 1
1.1 Section I. 2
1.2 A) Company History 2
1.3 Strategies and Tactics used by Best Buy 3
1.4 B) Mission Statement (implied).……….……………………...……………………………………...4
1.5 Analysis of the Mission 4
1.6 C) Objectives 5
1.7 Analysis of the Objectives 5
2.0 Section II …………………...……………………..…………………………………….……………6
2.1 Financial Analysis...………………………………………………………………….…..…………...6
2.2 A) Ratio Analysis………..…………………………………………………………………………...6
2.3 B) Evaluation of the Income and Balance Sheet…………………………………..........................…6
3.0 Section III …………………….………………………………………………………………………7
3.1 A) Strenghts.………………………………………………………………………………….……….7
3.2 B) ...view middle of the document...

Every day our employees are committed to helping deliver the technology solutions that enable easy access to people, knowledge, ideas, and fun. The company is aware of its role and impact on the world, and is committed to develop and implement business strategies that bring sustainable technology solutions to its customers and communities.
Our findings are that Best Buy will benefit from applying the following strategies revealed by the analysis:
A) Rearrange how the products are arrange in the floor of sales to easy the buying of the customers
B) Implement an advertisement plan and promotion to attract new customers
C) Develop a new strategy of sales to small businesses
On the basis of this findings, its recommended to implement and advertisement program to attract new customers.

nnn

1.1 Section 1
1.2
A) INTRODUCTION AND HISTORY TO DATE (Timeline)
Humble Beginnings
1966. Richard Schulze and business partner open the sound of music store in St. Paul, Minnesota.
1967. Sound Of Music acquires Kencraft Hi-Fi Company And Bengo Company.
1969. Sound of Music stock trades as a publicly-held company; three stores open in the twin cities area.
1970 Sound of Music hits the $1 million mark in annual revenues.
Growth and Challenge
1974. Sound of Music moves into new headquarters in Bloomington, Minnesota.
1978. Sound of Music operates nine stores in Minnesota by year end.
1981. A tornado hits the Roseville, Minnesota store; Sound of Music responds with a “Tornado Sale,” introducing low prices in a no frills retail environment. As a measure of the success of the enhanced assortment, stores average $350 in sales per square foot versus an industry average of $150-$200 per square foot.
Forging New Paths
1983. Sound of Music board of directors approves a new corporate name, Best Buy Co. Inc.; Best Buy opens its first superstore in Burnsville, Minnesota.
1985. Best Buy’s initial public offering on the NASDAQ raises $8 million.
1986. A public stock offering raises $33.6 million, helping finance a 12 store expansion.
1989. Best Buy unveils a revolutionary “grab and go” store format in a non-commissioned, warehouse-style environment; Best Buy’s brand logo changes to the familiar yellow tag.
Unprecedented Growth
1993. Best Buy becomes the nation’s second largest consumer electronics retailer.
1994. Best Buy establishes the Best Buy Children’s Foundation to invest in organizations and programs committed to making a difference in the lives of children.
1995. Best Buy breaks into Fortunes magazine’s annual ranking of America’s 500 largest corporations, listed at number 373; Best Buy implements the Standard Operation Platform (SOP), developed to support and manage every aspect of the company’s business.
1999. Best Buy and Microsoft partner to cross promote products.
Reaching New Heights
2000. Best Buy enters the online retailing business by launching www.bestbuy.com; Fortune magazine names Best Buy one of the...

Other Papers Like Analysis For Best Buy Company

Best Buy Essay

1005 words - 5 pages Critical Analysis Paper #1 The revenue of Best Buy declined by 2.4% since 2011. The company lost $1.23 billion in 2011, or $3.36 per share. This report will conduct a situation analysis of Best Buy, explain internal issues and the external environment, and summarize key issues that can explain the poor performance. One of the potential internal causes of revenue decrease for Best Buy is the fact that they have high dependence on vendors for

Shangri-La Hotel Public Company Limited Business Analysis, Company Profile and Financial Analysis - Jsb Market Research

954 words - 4 pages : Inventory and Asset Buy 2 Reports Get 1 Free Click Here For Special Discount Offer On Infiniti Research Limited http://www.jsbmarketresearch.com/publisher/infiniti-research-limited For more inquiries, contact at +91 - 998 729 5242 /contact@jsbmarketresearch.com To Order: Product name: Shangri-La Hotel Public Company Limited - Company Profile and Financial Analysis Product link: http://www.jsbmarketresearch.com/travel-tourism

Tea Building Research

2471 words - 10 pages where they purchase their cell phones, and cell phone services. Significance, Scope, Magnitude, and Feasibility of Finding a Solution Building the cell phone customer base of Best Buy is not just to increase revenues for the company, but to build its reputation as a knowledgeable, reasonable, one-stop shop for all cell phone needs. This also increases traffic through e-commerce for Best Buy by re-establishing itself as the

Disclosure Analysis

821 words - 4 pages company has been during over the past years and explains cause for changes. Best Buy has seen a decrease in receivables, cash, and cash equivalents over the past few years, yet the merchandise inventory has shown increases. Receivables Best Buy’s receivables consist primarily of amounts due from mobile phone network operators for commissions earned; banks for customer credit card, certain debit card and electronic benefits transfer (EBT

Best Buy Case

392 words - 2 pages Best Buy Case Write-up | | Best Buy Case Write-up | | I. Company Problems Best Buy is experiencing several difficulties that have arisen due to problems within the internal and external environment that Best Buy is operating in. The largest problem, as we see it, is that Best Buy has failed to adapt to the current age of retail. Currently consumers have seem to have a preference to buying

External and Internal Factors Impacting Compensation

2003 words - 9 pages so many changes within the industry best buy the number one electronic retailer decided to implements new compensation strategy within their organization to gain competitive advantage against their competitors. An organization employing over 170,000 employees within the US will have hard time developing a compensation strategy for every employee. Therefore the organization decided to focus on its retail store managers. Data reveals that best buy

China Research on Sensors for Blood Pressure Monitoring Industry 2014 at Researchmoz.Us

1350 words - 6 pages Export Consumption 6.6 2009-2014 Sensors For Blood Pressure Monitoring Cost Price Production Value Gross Margin chapter Seven Sensors For Blood Pressure Monitoring Key Manufacturers Analysis 7.1 Company A 7.1.1 Company Profile 7.1.2 Product Picture And Specification 7.1.3 Capacity Production Price Cost Production Value 7.1.4 Contact Information 7.2 Company B 7.2.1 Company Profile 7.2.2 Product Picture And Specification 7.2.3 Capacity Production

Global and China Nickel Hydroxide Industry 2013 : Industry Growth Report

1250 words - 5 pages 7.9.1 Company Profile 7.9.2 Product Picture And Specification 7.9.3 Capacity Production Price Cost Production Value 7.9.4 Contact Information 7.10 Company J 7.10.1 Company Profile 7.10.2 Product Picture And Specification 7.10.3 Capacity Production Price Cost Production Value Global and China Nickel Hydroxide Industry 2013 Market Research Report 7.10.4 Contact Information chapter Eight Up And Down Stream Industry Analysis 8.1 Upstream Raw

Best Buy Econ Paper

1644 words - 7 pages limited liability which means a partner or investor cannot lose more than the amount invested and the investor or partner is not personally responsible for the debts and obligations of the company in the event of bankruptcy. For taxes public corporations are taxed twice; once for revenue for the corporation and once for personal income for the shareholders. Best Buy is the type of company that always stays up to date with the latest technologies

Koninklijke Boskalis Westminster Nv Swot Analysis: Jsbmarketresearch

1082 words - 5 pages best market research reports for various industries. To know more on “Koninklijke Boskalis Westminster N.V. (BOKA) : Company Profile and SWOT Analysis” http://www.jsbmarketresearch.com/company-profile/r-koninklijke-boskalis-westminster-nv-boka-company-profile-and-swot-analysis-191300

Thermoplastic Polyolefin (Tpo) Industry 2013 Market Research Report

1089 words - 5 pages . Global and China TPO Industry Research Report 2013 also focuses on development policies and plans for the industry as well as a consideration of a cost structure analysis. Capacity production, market share analysis, import and export consumption and price cost production value gross margins are discussed. A key feature of this report is it focus on major industry players, providing an overview, product specification, product capacity, production

Related Essays

Best Buy Case Analysis

687 words - 3 pages Best Buy Case Analysis In 1966 Best Buy began as a single location car and home stereo store founded by Richard Shulze in Minnesota. Now the company is an electronic superstore that has thousands of stores throughout the U.S., Canada, the U.K., and Asia. Best Buy has set themselves apart from its competitors, and have been successful for decades. The electronic superstore sells consumer electronics, home office equipment, appliances, and

Best Buy Critical Analysis

709 words - 3 pages Dunn explained that there was no innovation by the company to adapt to the changing market on how consumers were purchasing electronics. Consumers are now price comparing with Best Buy’s products with online retailers. Online competitors of Best Buy are utilizing the new emerging technologies to help make purchasing of products convenient to the consumers. Problem Statement Best Buy is on a slow downward slope towards bankruptcy, if the

Is John Lewis The Best Company In Britain To Work For

3162 words - 13 pages Is John Lewis the best company in Britain to work for? It is owned by its employees – or partners – who have a say in how it is run, and receive a share of the profits. Surely this is the way every organisation should be run . . . * * * Jon Henley * The Guardian, Tuesday 16 March 2010 * Article history John Lewis's flagship store in central London Photograph: Alex Segre / Alamy/Alamy It's just before

Q1.Using The Assessment Tools We Have Discussed In Unit 6, (Mckinsey 7 S Framework, Balanced Scorecard, Swot Analysis Etc) Provide A Complete Assessment Of The Company You Are Currently Working For....

2259 words - 10 pages , one per computer or connection to the internet. Switches can also be used as device for connecting computers in a network. If you had seven computers, and only one had a printer which you wanted to share, you would buy a switch to connect all the computers. There is also a combination of the two; a router with switching capabilities. This is the best of both devices. It may be more expensive, but it is definitely worth it. With this device, you