Abstract

The caselet “Best Buy’s Strategy to Beat the Pandemic Blues” discusses the various measures taken by US-based multinational consumer electronics retailer Best Buy Co., Inc. (Best Buy) to beat the business crisis that stemmed from the COVID-19 pandemic and the resultant lockdown restrictions in the US. Best Buy formulated a crisis management strategy and the case documents the various measures the company took to keep its stores up and running during an unprecedented crisis such as the pandemic. The case also mentions some of the human resource (HR) measures taken by Best Buy to keep up employee morale and encourage vaccination against COVID-19. The various measures taken by Corie Barry (Barry), the CEO of Best Buy, proved effective in keeping up the sales. Can Barry’s successfully crisis management strategy be an example to emulate in the retail industry?

Learning Objectives

The case is structured to achieve the following Learning Objectives:

• Manage the changes in the external environment
• Understand the issues and challenges faced by companies during pandemics.
• Discuss the importance of crisis management and crisis communication.
• Create an effective crisis management plan.
• Analyze the significance of technology in pandemic preparedness and response.

Keywords

Business Continuity; Risk Management; Macroeconomics & Business Environment; Retail Management; Strategic Management; Crisis Management Plan;COVID-19; Pandemic Preparedness; Crisis Communication; HR Policy; Distribution Strategy; Curbside Pickup; Online Shopping; Fulfilment Centers; Safety Guidelines for Stores