Best Buy Company Incorporation Assignment Example | Topics and Well Written Essays - 1000 words

Best Buy Company Incorporation - Assignment Example As a global company, it operates in Mexico, Canada, China, United States, and Puerto Rico. Best Buy is a public company traded on NYSE: BBY(S&P 500 Component). SWOT Analysis Strengths: No. One Electronic Retailer The company is the largest Consumer Electronic Retailer in the US holds a market share of about 20% (2011) and it’s ranked in position five on the Interbrand's Best Retail Brands 2012. Knowledgeable personnel In order to maintain its competitive streak in the market, the company recruits, trains, and retain qualified personnel. Their end-end type of customer service differentiates Best Buy from online retailers and discount electronics retailers. Smart Acquisitions In FY03 Best Buy Co. Inc. acquired Greek Squad Inc. This was specifically done in order to enhance support for customer services. The Greek Squad service is now found in all the US branded the Best Buy stores. Additionally, in FY12 Best Buy acquired mindSHIFT Technologies, Inc. a company providing data cent er and cloud services. Weaknesses: Physical stores The cost of personnel and overhead associated with the physical stores poses a challenge when comparing Best Buy with other online retailers. Customers in most cases use the physical store as â€Å"showroom† and then make the purchases of the products from the other online retailers at a lower cost. Reorganization Diluting Customer Experience The company has over the years undergone various restructuring activities in an effort to smoothen their in-store models of business.