comprehensive case analysis of Best Buy

Best Buy has successfully maintained its relevance in the cutthroat technology sector because to its overall business strategy. The combination of proactive management, cutting-edge technology, and adaptable value-creation strategies is what has sustained its performance. Best Buy has endured market turbulence, the global economic crisis, and other difficulties in the business climate (Hitt, et al.2013). However, the company has constantly provided customers with faultless service. The corporation has seen a tremendous shift in terms of its management, economic projections, and production curve. In essence, Best Buys has benefited from knowledgeable staff and aggressive commercial methods. The development of the company is explained by a critical examination of internal and external elements. Internal analysis of Best Buys exhibit a strong value on quality. The overall management structure and functionality is efficient hence boosting the overall productivity. In fact, its ability to shift attention towards market segments explores the significance of sound decision making (Zentes, 2016). The firm has secure internal financial mechanisms with integrated payment systems. The prioritization of customer focus is a motivation to adapt to emerging technology, boost its manpower quality, and uphold healthy business practices.

From the external perspective, the overall PESTLE analysis of Best Buys is great .Best buys has formed a working partnership with affiliate stores to boosts its efficiency in sales and avert related storage burden. Besides, technology is known to shift production curve and Best Buys has effectively infused such an approach to its advantage (Hitt, et al.2013) . The pricing strategy of is competitive and has helped it sustain a profit margin the steered it. Overall financial position of the firm can be noted to have a positive balance sheet. While political factors do little in the case of Best Buys, technology and flexibility takes central role in informing its success (Zentes, 2016). Despite targeting such market segments as profitable customers, the firm contend with the potential risk of business environment uncertainties.

References

Hitt, M. A., Hoskisson, R. E., & Ireland, R. D. (2013). Strategic management: Competitiveness & globalization : cases. Mason, OH: South-Western, Cengage Learning.

Zentes, J. (2016). Strategic retail management: Text and international cases. Place of publication not identified: Gabler.