Final_Project_Milestone_One_Proposan.docx 2-2 Final Project Milestone One: Proposal Best Buy Company Incorporated Best Buy is had its birth In St. Paul, Minnesota in 1966 as Sound of Music, Inc. As you might imagine
...
Final_Project_Milestone_One_Proposan.docx 2-2 Final Project Milestone One: Proposal Best Buy Company Incorporated Best Buy is had its birth In St. Paul, Minnesota in 1966 as Sound of Music, Inc. As you might imagine from the name, the business began with home and car audio as its principal product offerings. Richard Schulze bought his business partner out in 1971 and began to expand the business both in locations and product offerings. Sound of Music was re-christened as Best Buy in 1983 and it went public in 1985. In 1987 revenue was 239 million and by 1993 revenue surpassed a billion dollars and 10 billion in 1999.(Funding Universe, 2020) Fast forward to 2012 and Best was hurting as customers would visit Best Buy to see the products they intended to buy from Amazon.(Bariso, 2019) Add in inappropriate relationships at the executive level and plummeting employee morale and you have a recipe for subpar performance. (Griffin, 2018)With sales plummeting the company seemedto have no response to the explosive growth of online. Best Buyneeded new direction and new leadership in order to survive the exploding online marketplace. I used to be a big electronics guy. I had a very expensive stereo that only a single man would spend money on. I didn™t buy any part of the stereo from Best Buy. I went into a Best Buy twice to look at products on sale without making a purchase either time. I left becausethe staff had lacked knowledge in home theatre setups, they seemed genuinely disinterested in helping me, and the item I . . . . . .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . .. .. . . . . . . . . . . . . . . . . . .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
[Show More]
