Best Buy ranks number 72 on the Fortune 500; it is the largest consumer electronics retailer...

  

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Best Buy ranks number 72 on the Fortune 500; it is the largest consumer electronics retailer in the world. Best known for its discounted high-quality products, customer centered approach, sustainable outreach, and extensive recycling program. Best Buy is listed as a "socially responsible company. It was founded by Richard Schulze in 1966. Since then the company has undergone many changes. College students, who wanted higher-end electronics, were the first customers they targeted. In 2000, when sales growth slowed, Best Buy acquired Geek Squad, a repair service. This acquisition led to their Concept 5 stores, where products are sold and customers taught how to use them. This improved service turnaround time and increased customer satisfaction. By 2009, the company became the primary online and brick-and-mortar provider of consumer electronics. Best Buy views itself as a customer-centered organization. The company uses www.BestBuy.com to learn more about its customer needs and preferences. Customers can use that website to rate every product purchased. In 2007, the Company published its first Corporate Social Responsibility Report (SR) as result of the customers concern for sustainability. Electronic waste was filling landfills, and their customers wanted to see this problem addressed. In response to their concerns. Best Buy implemented a wide-scale electronics recycling program. In 2009 Best Buy set a goal to reduce carbon emissions by 45%; by the end of 2016 they had reached nearly 47%. Today Best Buy employs a Chief Ethics Office and maintains a blog for company employees; it covers ethical lapses and related issues. Employees can visit the website and read about the company policy regarding ethically questionable behaviors, and learn tips on how to best defend themselves from This case was prepared with the assistance of Dianne Kroncke, revised from a case developed by Jennifer Sawayda and Danielle Jolley for and under the direction of O.C. Ferrell and Linda Ferrell. Amanda Solosky and Shelby Peters contributed to a previous version of this case. It was prepared for classroom discussion rather than to illustrate either effective or ineffective handling of an administrative, ethical, or legal decision by management. All sources used for this case were obtained through publicly available material. Ⓒ O.C. Ferrell and Linda Ferrell 2018 crossing ethical boundaries. Hubert Joly was appointed CEO in 2012 after a scandal forced out CEO, Brian Dunn and Chairman, Richard Schulz. Under Joly. Best Buy, once again, became a growth company. He implemented its "Renew Blue" strategy, adding new product lines and services and emphasizing both in-store and online customer opportunities. Its Geek Squad division began an in-store, online, and home advisory program. He expanded into both Canadian and Mexican markets. Operations in China and Europe were closed to reduce costs, and he closed some domestic stores, under his lean management mandate. To improve customer service, the "Geek Squad hours were expanded to provide 24-hour service on site, at home, or through the Internet. The tech experts make about 4 million home calls a year. Walmart and Amazon their biggest competitors do not offer comparable at-home services. In March 2017, "Renew Blue" was officially closed by Joly and pronounced a success. In 2017, Joly announced the company will implement "Best Buy 2020 - Building the New Blue." Best Buy began a try-before-you-buy program which allows the customer to rent gadgets such as audio equipment, fitness trackers, smartwatches, and cameras. If the customer decides to keep the product, 20% of the rental fee is deducted and applied to the final cost of the product. Best Buy will continue demonstrating new technology solutions, contracts and services and sustainability. The company plans to enhance their smart home areas in all stores, roll out its Best Buy Smart Home Powered by Vivint home automation and security offering to 450 stores, which will add 1,500 dedicated smart home employees. The "Geek Squad" expanded services will include "Smart Home Total Tech Services, which will service every electronic product in your home no matter where the product was purchased and create a totally integrated technology system for your home. Another service Best Buy will provide is the Smart Home Senior Care Services, which is considered an "untapped white space opportunity." The electronic "Assured Living system will allow millennials /caregivers to look in on their aging parents while permitting the seniors to live independently. Mr. Joly envisions rolling out a broader business of sensor-based senior services, sold through health-and-wellness departments in Best Buy' s more than 1,000 stores. With an aging population in the U.S., there will be 70 million people who will be seniors in 2027. Best Buy sees this growth opportunity and will use the Smart Home Business and its ability to get into people's home as a trusted adviser. Question Scenario:02 How does Best Buy deal with ethically questionable behaviors? Best Buy ranks number 72 on the Fortune 500; it is the largest consumer electronics retailer in the world. Best known for its discounted high-quality products, customer centered approach, sustainable outreach, and extensive recycling program. Best Buy is listed as a "socially responsible company. It was founded by Richard Schulze in 1966. Since then the company has undergone many changes. College students, who wanted higher-end electronics, were the first customers they targeted. In 2000, when sales growth slowed, Best Buy acquired Geek Squad, a repair service. This acquisition led to their Concept 5 stores, where products are sold and customers taught how to use them. This improved service turnaround time and increased customer satisfaction. By 2009, the company became the primary online and brick-and-mortar provider of consumer electronics. Best Buy views itself as a customer-centered organization. The company uses www.BestBuy.com to learn more about its customer needs and preferences. Customers can use that website to rate every product purchased. In 2007, the Company published its first Corporate Social Responsibility Report (SR) as result of the customers concern for sustainability. Electronic waste was filling landfills, and their customers wanted to see this problem addressed. In response to their concerns. Best Buy implemented a wide-scale electronics recycling program. In 2009 Best Buy set a goal to reduce carbon emissions by 45%; by the end of 2016 they had reached nearly 47%. Today Best Buy employs a Chief Ethics Office and maintains a blog for company employees; it covers ethical lapses and related issues. Employees can visit the website and read about the company policy regarding ethically questionable behaviors, and learn tips on how to best defend themselves from This case was prepared with the assistance of Dianne Kroncke, revised from a case developed by Jennifer Sawayda and Danielle Jolley for and under the direction of O.C. Ferrell and Linda Ferrell. Amanda Solosky and Shelby Peters contributed to a previous version of this case. It was prepared for classroom discussion rather than to illustrate either effective or ineffective handling of an administrative, ethical, or legal decision by management. All sources used for this case were obtained through publicly available material. Ⓒ O.C. Ferrell and Linda Ferrell 2018 crossing ethical boundaries. Hubert Joly was appointed CEO in 2012 after a scandal forced out CEO, Brian Dunn and Chairman, Richard Schulz. Under Joly. Best Buy, once again, became a growth company. He implemented its "Renew Blue" strategy, adding new product lines and services and emphasizing both in-store and online customer opportunities. Its Geek Squad division began an in-store, online, and home advisory program. He expanded into both Canadian and Mexican markets. Operations in China and Europe were closed to reduce costs, and he closed some domestic stores, under his lean management mandate. To improve customer service, the "Geek Squad hours were expanded to provide 24-hour service on site, at home, or through the Internet. The tech experts make about 4 million home calls a year. Walmart and Amazon their biggest competitors do not offer comparable at-home services. In March 2017, "Renew Blue" was officially closed by Joly and pronounced a success. In 2017, Joly announced the company will implement "Best Buy 2020 - Building the New Blue." Best Buy began a try-before-you-buy program which allows the customer to rent gadgets such as audio equipment, fitness trackers, smartwatches, and cameras. If the customer decides to keep the product, 20% of the rental fee is deducted and applied to the final cost of the product. Best Buy will continue demonstrating new technology solutions, contracts and services and sustainability. The company plans to enhance their smart home areas in all stores, roll out its Best Buy Smart Home Powered by Vivint home automation and security offering to 450 stores, which will add 1,500 dedicated smart home employees. The "Geek Squad" expanded services will include "Smart Home Total Tech Services, which will service every electronic product in your home no matter where the product was purchased and create a totally integrated technology system for your home. Another service Best Buy will provide is the Smart Home Senior Care Services, which is considered an "untapped white space opportunity." The electronic "Assured Living system will allow millennials /caregivers to look in on their aging parents while permitting the seniors to live independently. Mr. Joly envisions rolling out a broader business of sensor-based senior services, sold through health-and-wellness departments in Best Buy' s more than 1,000 stores. With an aging population in the U.S., there will be 70 million people who will be seniors in 2027. Best Buy sees this growth opportunity and will use the Smart Home Business and its ability to get into people's home as a trusted adviser. Question Scenario:02 How does Best Buy deal with ethically questionable behaviors?

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How does Best Buy deal with ethically questionable behaviors Answer Best Buy deals with et... View the full answer