Question

This problem-solving application profiles electronics retailer Best Buy. The entrance of Amazon and Walmart into the online resale marketplace gashed Best Buy’s instore sales. When you couple that with inefficient processes and procedures at the organization, and scandals with senior leadership, the organization really was in dire straits. Organizations such as Circuit City, CompUSA and RadioShack could not survive their problems, could Best Buy? In came new CEO Hubert Joly and CFO Sharon McCollam. They are now in the middle of the many challenges Best Buy is facing and need to find solutions to these major problems.

Recommend a solution to the problem outlined above

Answer 1

If Best Buy can provide discounts and offers which will attract the consumers , it can initiate the process of recovery from it's problems. It can concentrate on products which cannot be purchased online and are perishable so that consumers will have a reason to visit the stores leaving online sites . It must provide good quality at best prices and consumers must be able to differentiate these products from those which are bought from online sites. This will make Best Buy regain it's fame and get back to it's original track of success.