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Essay / Research Paper Abstract
A 6 page paper based on a case discussing Best Buy's experiments in customer centricity and how to move the successful experiment to all of the company's 822 stores. The recommended alternative is phased implementation, beginning with the most important features. After customer centricity has been in place for some time, per-store revenues are likely to be greater by the time to begin the more visible phase of the shift. Bibliography lists 9 sources.
Page Count:
6 pages (~225 words per page)
File: CC6_KSmgmtBestB.rtf
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Unformatted sample text from the term paper:
Rising from a single store in Minnesota in 1966, Best Buy (NYSE:BBY) currently has more than 140,000 employees worldwide and in 2005 was on Forbes Global 2000 list in
place 321 (DeCarlo, 2005). The company literally leaves no stone unturned in its efforts to expand prudently. Operating internationally as well as throughout the United States and Canada,
Best Buy "operates retail stores and commercial Web sites under the brand names, Best Buy, Five Star, Future Shop, Geek Squad, Magnolia Audio Video, and Pacific Sales Kitchen and
Bath Centers" (Profile, 2007). Best Buy leads its industry in virtually all bottom-line measures. As of March 2007 the company operated a
total of 1112 stores and retail sites in the form of "822 Best Buy stores, 20 Magnolia Audio Video stores, 14 Pacific Sales stores, 121 Future Shop stores, and 135
Five Star stores" (Profile, 2007). Also in 2007, founder Richard M. Schulze remains as Chairman; Brad Anderson remains as Vice Chairman and CEO (Profile, 2007). Environmental Analysis
For the fiscal year ended February 2007, revenues rose 15.3 percent to $35.93 billion. Net income from continuing operations rose 27.4 percent to $1.38
billion. Increased revenues originate with higher same-store sales and revenues gained from additional stores opened during the past year. Best Buy leads its industry in market capitalization, and
leads it by a wide margin as illustrated in Table 2. At $20.84 billion, Best Buy is far away from the number two position held by GameStop at $7.85
billion. Best Buy also leads its industry in return on equity (ROE), and it is second in its industry in quarterly revenue growth.
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