question archive This problem solving application profiles electronic retailer Best Buy
This problem solving application profiles electronic retailer Best Buy
Subject:ManagementPrice:2.84 Bought7
This problem solving application profiles electronic 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? I 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.
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Solutions to major problems of Best Buy are;
1)Create a discount scheme that is based on membership of consumers that are loyal to encourage them to return.
2)Make shopping convenient to customers through an integrated online platform ton enable them shop conveniently. This will also help Buy to adjust to the dynamic trends in competition.
3) Evaluate and minimize overhead costs to allow setting of a profitable price.
4)Build up the supply chain network to ensure that goods atre delivered on time and to all points of operation.
5)Proper training of the sales personnel and other workers to provide services that are attractive to the customers.
Setting goals and targets for salespersons and offer incentives for high turnover. Remunerate the
