Essay Best Buy
In the traditional retail sector, Best Buy has previously largely squeezed other electronics warehouse-superstores out of the business (or left them as a shell of their former self), with the exception of some regional retailers such as HH Gregg, or Fry’s Electronics. In addition to competing with these smaller chains, Best Buy continues to compete in the consumer electronics retail sector with companies such as Staples and Office Depot, which offer a small selection (compared to Best Buy) of competitively priced electronics and accessories. Other …show more content…
4. Weigh the challenges confronting the company. What are the greatest risks for Best Buy as it moves into the new era of connectivity? What recommendations can be made to support the company’s growth and profitability objectives?
Best Buy is struggling to address the strategic risk. Retail is highly personal. Risk managers in the retail industry should, and many do, pay close attention to reputational risk issues. Negative word of service and supply chain problems spread quickly and broadly in our social media-enabled world.
For Best Buy growth and profitability objectives, Our group suggested to Best Buy to do 3 things below :