Best Buy is known for being one of the leading providers of technology products in the United States, who also claim that they offer products at an unbeatable price. The company has gone through many regulatory and economic changes over the past couple of years that directly affect the company. In July of 2014, one of the central regulatory changes Best Buy faced was when CEO, Hubert Joly, demanded Congress to force online merchants to collect sales tax from customers. In the article “Best Buy 's Joly: Web retailers should collect sales tax” found in Star Tribune, author, Adam Belzstates, wrote, “Joly’s statements were his most forceful public words on the matter in his 15 months as CEO, which has seen Best Buy’s stock price triple in 2013,
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Brian Dunn was married with three sons and failed to tell the board about the affair and evidently had Best Buy Co Inc. founder and chairman, Richard Schulz, cover up the affair by promising not to let the word get out. Eventually, the word got out when a reporter from the Star Tribune questioned Dunn over twitter. When the reporter asked for a response to the allegations ¾ Dunn meant to send a private message, but accidentally pressed the wrong button sending his response out publicly. After realizing his mistake, he attempted to delete his tweet, but many officials and other people got hold of his response. Customers and others were disappointed that Brian Dunn was let off with leaving the company and taking home a substantial payoff of $6.6 million dollars. Overall, the Brian Dunn incident lead people to think that the company was not taking aggressive enough actions when it came to their higher-powered people in the company in terms of what gets put out in the …show more content…
In the case of Best Buy, internal factors that contribute to the company’s strength begin with their diversified product categories. Early on in the business, Best Buy’s beginner store sold a small inventory of stereos. The company has grown to include the sales of TV & Home theater systems, computers, tablets, audio, cameras, mobile phones, car electronics, home office products, and other entertainment products. By keeping such a diversified product offering, Best Buy attracts various consumer segments to increase their sales. Other major strengths include the existence of a loyalty program, and services to help customers with their products after the time of purchase. Best Buy currently has a Reward Zone Silver Program, as mentioned above, that rewards loyal customers with exclusive benefits. Also previously mentioned, Best Buy has partnered with companies such as Geek Squad and Magnolia in order to further service their customers. Magnolia Home Theatres has a program with Best Buy that allows customers to design and select audio and video gear for their personal home theatres. Geek Squad services Best Buy customers with repairs and refurbishments of products purchased from the
Brian Dunn was married with three sons and failed to tell the board about the affair and evidently had Best Buy Co Inc. founder and chairman, Richard Schulz, cover up the affair by promising not to let the word get out. Eventually, the word got out when a reporter from the Star Tribune questioned Dunn over twitter. When the reporter asked for a response to the allegations ¾ Dunn meant to send a private message, but accidentally pressed the wrong button sending his response out publicly. After realizing his mistake, he attempted to delete his tweet, but many officials and other people got hold of his response. Customers and others were disappointed that Brian Dunn was let off with leaving the company and taking home a substantial payoff of $6.6 million dollars. Overall, the Brian Dunn incident lead people to think that the company was not taking aggressive enough actions when it came to their higher-powered people in the company in terms of what gets put out in the …show more content…
In the case of Best Buy, internal factors that contribute to the company’s strength begin with their diversified product categories. Early on in the business, Best Buy’s beginner store sold a small inventory of stereos. The company has grown to include the sales of TV & Home theater systems, computers, tablets, audio, cameras, mobile phones, car electronics, home office products, and other entertainment products. By keeping such a diversified product offering, Best Buy attracts various consumer segments to increase their sales. Other major strengths include the existence of a loyalty program, and services to help customers with their products after the time of purchase. Best Buy currently has a Reward Zone Silver Program, as mentioned above, that rewards loyal customers with exclusive benefits. Also previously mentioned, Best Buy has partnered with companies such as Geek Squad and Magnolia in order to further service their customers. Magnolia Home Theatres has a program with Best Buy that allows customers to design and select audio and video gear for their personal home theatres. Geek Squad services Best Buy customers with repairs and refurbishments of products purchased from the