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Essay / Research Paper Abstract
This 6 page paper focuses on Best Buy. This paper concludes that Best Buy must garner public support in order to attract new consumers and appease loyal customers. Bibliography lists 6 sources.
Page Count:
6 pages (~225 words per page)
File: RG13_SA01139buy.doc
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Unformatted sample text from the term paper:
as it also sells home appliances. Still, the common theme in its product line is that everything runs on electricity and one can expect to find new, coveted merchandise at
low prices. Although Best Buy had to weather a few storms as it made its way through difficult economic times, it has emerged largely unscathed. However, as it looks to
the future, Best Buy ought to embrace a new customer-focused strategy with attention to the atmosphere it creates. Its new objectives should be equated with attracting and retaining customers, something
that will serve to enhance its bottom line. Background Best Buy is a company that opened in 1966 and has grown quite a
bit since, enhancing its business through a number of innovations ("BBY: About Us," 2011). The firms position is that they are always changing to meet customer needs and to help
them to enjoy technology ("BBY: About Us," 2011). That said, the company has been challenged occasionally, but reportedly, they grow from the challenges ("BBY: About Us," 2011). Best Buy has
a number of brands and is committed to innovation and growth ("BBY: About Us," 2011). The stores are currently being transformed to shift the focus from "product-centric to customer-centric "
("BBY: About Us," 2011). Best Buy has done a lot as it respects strategic planning. Every year, the senior management team members discuss long term strategy ("The Strategic
Planning Process," 2011). They discuss overall corporate strategy as well, and they focus on business growth as well as new market expansion ("The Strategic Planning Process," 2011). They look at
their strategic alliances as well as their marketing strategies, they look at their product lines, and they eliminate and diversify as necessary ("The Strategic Planning Process," 2011). They focus on
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