Customer-centric Employee Training Programs: A Key Contributor to Best Buy`s Success
| Case Code: HROB241 Case Length: 13 Pages Period: 2008-2022 Pub Date: 2023 Teaching Note: Available |
Price: Rs.300 Organization: Best Buy Co., Inc. Industry: Retailing Countries: United States Themes: Training & Development, Corporate Strategy, E-learning,Knowledge Management |
Abstract Case Intro 1 Case Intro 2 Excerpts
Introduction
September 2012 marked a low point for Best Buy Co., Inc., (Best Buy) a US-based retailer of consumer electronics products and services. The tech retailer’s stock had fallen drastically to US$17.85 per share from US$40 per share in 2010. The decreased share value was attributed to rapidly declining sales, intense competition from online retailers such as Amazon.com, allegations of inappropriate conduct against former CEO Brian Dunn, and a buyout attempt by the founding chairman Richard Schulze (Schulze). Best Buy unveiled its Renew Blue transformation strategy at the end of 2012 in order to manage the negative comparable sales and declining operating income rate and improve the stock price. The management felt that the solution was to ensure that customers kept coming back to its stores. This would be possible if it laid emphasis on the customer experience by putting the customer in control rather than having a sales-directed environment in its retail stores..
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