Best Buy: SWOT Analysis

Paper Summary:

In this article, the writer notes that a SWOT analysis helps organizations to identify and analyze their weaknesses and threats so as to overcome them by effectively harnessing their opportunities and strengths. The writer explains that "SWOT" is an acronym for strength, weakness, opportunities and threats. In this paper, the writer conducts a SWOT analysis of Best Buy Inc., one of the leading marketers of consumer electronics in the United States. The writer begins by presenting a short executive summary of the company. This is followed by the SWOT analysis, a discussion of the current issue facing the company as it relates to maintaining a profitable position in the industry and the recommendations and conclusion.

Outline:
Introduction
Best Buy: Executive Summary
Best Buy: SWOT Analysis
Strengths
Weaknesses
Opportunities
Threats
Best Buy: Current Issues
Recommendations
Conclusions
Appendix
Figure 1
Figure 2

From the Paper:

"Best Buy derived its strength from three main factors: its employees, customer centricity, and market share. With regard to the employees, it will be important to note here that the company can boast of having a highly professional and motivated workforce who is committed to ensuring that the company attains it corporate aims and objectives. The company currently has as much as 150,000 well-trained and innovative employees who are armed with up-to-date skills for caring for the needs of the company's customers.
"Customer-centricity is another source of strength for Best Buy. Unparalleled commitment to customer satisfaction is one of the secrets that contributed to the success of Best Buy in the consumer electronics industry."

Sample of Sources Used:

• Best Buy (2008): Our History. Best Buy. Retrieved March 23, 2008 from http://www.bestbuyinc.com/about/history.htm
• Best Buy (2008): To Our Shareholders. Best Buy. Retrieved March 23, 2009 from http://media.corporate-ir.net/media_files/IROL/83/83192/08AR/letter.htm
• Best Buy (2008): About Best Buy Co., Inc. Best Buy. Retrieved March 23, 2009 from http://www.bestbuyinc.com/about/our_brands.htm
• David F.R. (2008): Strategic Management. Upper Saddle River, NJ: Prentice-Hall.
• Hitt M.A., Hoskisson R.E., & Ireland R. (2008): Strategic Management - Competitiveness and Globalization, Concepts and Cases. Florence, KY: Cengage Learning.

More papers on Best Buy: SWOT Analysis:

• Case Study # 148697 : "Best Buy SWOT Analysis"
• Case Study # 121889 : "Case Analysis of Best Buy"
• Analytical Essay # 139383 : "Best Buy - A Company Overview"

APA Citation:

MLA Citation: