PART1
Company of choice.
The contemporary world has been run by corporates and large businesses and taking that into consideration; Best Buy does not go unnoticed in this list. This company possesses most of the qualities of an organization in today’s fast-paced society. Some of these qualities include the ability to enjoy significant economies of scale from the global market. They serve and can embrace change through its life cycle to ascertain its existence and survival as well as overcoming market challenges arising from competition among other internal and external forces that affect business. The company’s ability to serve a global market adds to its subjective nature a quality that helps build job satisfaction among employees.
PART 2
Best Buy Company is an American multinational corporation headquartered at Richfield, Minnesota. The Corporation is a retail company and was previously called Best Buy Company Superstores from Sound of Music which was its original name as it was founded in 1966.
Company websites
Best Buy Company has an overwhelming online presence that spans across the United States including Mexico and Canada and across other countries like China. This is facilitated by their customer website (www.bestbuy.com). The company welcomes investors from across the globe by through its investor website (www.investors.bestbuy.com).
Ticker symbol
The corporation has a significant contribution to the New York stock exchange market where it possess a market capital of a staggering $9.023 billion which is traded using the symbol ticker BBY.
List of competitors
There is a significant number of companies sharing the same market as Best Buy. Competition among other factors that contribute to the success of the business is one of the major concerns of multinational corporations like Best Buy. This is as a result of widespread e-commerce technologies which have been broadly used by other multinational corporations enabling them to extend their markets. Such companies include:
Amazon Inc.
Alibaba Group Holding Ltd.
EBay Inc.
AutoZone Inc.
Rakuten Inc.
Genuine Parts Co.
Among other multinational companies which e-commerce pose significant competition to Best Buy (Hoovers.com).
What industry are they in?
Best Buy is a multinational corporation that retails a wide array of consumer electronics. These commodities range from audiovisual family equipment including televisions, home theater HI-FI systems to personal items like cell phones and laptops among others. Best Buy has a significant share market in this retail industry due to their e-commerce services.
How has the company been doing financially for the last several years?
The company has a strong influence on the NYSE market. Business operations have been on the rise, and the stock index has seen an increase from previous trading years. This can be reflected in the over $40 billion they recorded in revenue in the last financial year
How large is the company?
Best Buy is a leading multi-billion dollar company in the United States, Canada, and Mexico (Best Buy Corporate News and Information). It also retails in other countries including China. Day to day operations are conducted in over 1,050 retail store outlets across the globe as per the company’s annual report for the year 2015. The trade activities carried out in these stores helped contribute to the $40.339 billion revenue the corporation realized in the same year. The activities of the company would seem impossible to imagine it not for the 125,000 employees who comprise the company’s entire workforce.
What products/service do they do/sell?
Best buy avails products for all market niches available in the globe. These are mainly electronic consumer retail products which include fridges, television sets, and home theater systems as well as personal electronic commodities like cell phones smart watches and laptops. In general, the online market store help broadens the array of these electronic products as they enable customers to search for their devices of choice and get actual results including supplementary goods.
Who are their customers?
Consumers of these corporations can be classified into different categories. This is because the electronic products sold can also be categorized as various products including electronic office equipment to entertainment equipment. This covers a broad market niche that also incorporates the whole family for instance.
What information do you see on message boards about the company?
The company’s advertisement team does tremendous work in wooing customers as well as sustaining already existing clients in a very efficient way. This includes their Friday Door Buster Specials where offers are reduced thereby increasing the purchasing power of the consumers. This helps in winning their loyalty.
What major news items have been posted to the company?
The company was recently given a “BB” rating in the New York Stock Exchange market by Morningstar analysts. This award suggests that the company is an above average default-risk. This rating was further increased to a 3-star rating following a hedge fund that recently bought new stock in the company during the fourth quarter. The firm acquired 12,828 shares valued at approximately $390,000.
The company’s CEO has also lowered Best Buy from an “overweight” to “equal-weight rating thereby reducing their price objective from $37 to $28 in January 2016.
Where is the corporate headquarters?
The company’s corporate headquarters are located in Richfield Minnesota, a suburb of Minneapolis.
LinkedIn.com for links to the company
The company uses Best Buy as their profile name on linked in with the url:https://www.linkedin.com/company/2127?trk=vsrp_companies_hero_name&trkInfo=VSRPsearchId%3A4805948251455289115847%2CVSRPtargetId%3A2127%2CVSRPcmpt%3Ahero and incorporates a careers link for human resource operations in the company.
What are the company’s reviews on glassdoor.com like?
According to reviews about the company on glassdoor.com, there is an indication of job satisfaction and organization commitment in the company as its employee boast of employee discounts on purchase from the company. Employees also enjoy their work as a result of a relaxed management that does not pay too much attention on them as long as they work in a similar way. The company also includes health insurance options, personal vacation days and school reimbursement for its employees though many think that there isn’t a set schedule for this. Moreover, there is a hands on approach while dealing with customers that helps to win their loyalty and ensure customer satisfaction.
What information do you find using social media such as Twitter, Facebook and LinkedIn?
The company uses social network sites for advertisement and also to offer customer services. There is a vast array of information concerning the company’s trends and business including product description and advice. In generalized terms, the company utilizes social media as a business tool to disseminate information about its products, services, and operations.
Works Cited:
Best Buy Corporate News and Information,. "About Best Buy - Best Buy Corporate News And Information". N.p., 2016. Web. 23 Feb. 2016.
Hoovers.com,. “! Company Name! Names of Competitors". N.p., 2016. Web. 23 Feb. 2016.
