Best Buy Case Analysis: Vision, Mission, Goals, Objectives

Best Buy Case Analysis
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Strategic Management
In any organization or company, the critical factor considered for successful business operation is how the overall administration of the company is done. It requires skills, personnel and well-laid strategies for success to be realized. The management, therefore, must possess the required knowledge and expertise to enable them to operate the business efficiently. Effective competition finds its root from the strategic planning and management (Hill, Jones & Schilling, 2014).
In this study, Best Buy Company is taken as a case study. The analysis will be done based on the Company's strategic management plans. Furthermore, the key competition points employed by the company both internally and externally are of great interest for the study. At the end of the study, it will be found out how the company's economic and social organization affects the production of the business (Hitt, Ireland &Hoskisson, 2012).
General
Best Buy Company is a leading company with branches in America, Canada, China, and Turkey. It deals with electronics retail consumptions. Its vision is to be a service-oriented firm. On the other hand, the mission of the company is to make technology deliver on its promises to customers in the best capacity possible. To realize this mission, Best Buy Company sensitizes people on the use of technology and how it helps in improving their lifestyles.
Objectives
* Best Buy Company has the following key strategic objectives in its operations and marketing process:
* To market various products to customers in line with the centricity operating model.
* To cater for the needs of the lifestyle of the consumer for various groups.
* To exceed customers' needs and expectation while providing end-to-end solutions and
* To be the leading company in technological advances.
The objectives call for measures and strategies to ensure the goals of the organization are realized. They are based and derived to enable the company to be at par in competition. The goals of the Company includes:
* To accomplish a sustained growth and expansion of the company and
* To have sustainable earnings of the business's employees.
Corporate Governance
Best Buy Company has had a well-organized leadership strategy in which all the workers' needs are catered for. The corporate governance strategies employed by the company makes it unique in the competition field with its competitors such as Circuit Company and many others. Many of the companies find it hard to treat their employees well and at the same time compete with opponents in realizing the set goals and revenue. Through the leadership of Best Buy Company, there has been a mutual relationship between employers and the employees. Their plights have well been addressed.
The set ethical codes of conduct are equally of great importance. The ethics help define the relationship between employers, employees, and consumers. Economically, there are goals set for the organization's employees to meet. These objectives assist in determining the level of productivity among the employees in the company. Besides, the company operates within the legal framework as dictate...