Topic > Organizational and Human Resource Management: Best Buy Case Study

Best Buy, Inc. Case StudyBest Buy History and Key Characters: Best Buy is headquartered in Minneapolis and is the leading specialty retailer of consumer electronics, personal computers and North American entertainment software and appliances. Throughout Best Buy's 37-year history, the company has maintained a tradition of making life easy and fun for customers and employees, while providing a significant return for partners and investors. It has 80,000 employees and more than 550 stores across the United States, as well as the Best Buy Canada, Future Shop and Magnolia Hi-Fi brands. Their leadership is led by Dick Schulze, founder and president, Brad Anderson, vice president and CEO, Al Lenzmeier, president and COO, and Darren Jackson, executive vice president of finance and CFO. President Dick Schulze founded Best Buy in 1966 with Sound of Music, an audio component system store in St. Paul, Minnesota. In 1973, vice president and CEO Brad Anderson joined Sound of Music as a salesman. The company quickly expanded into video and computer products, was renamed Best Buy in 1983, and became a public company in 1985. Best Buy's revenues for fiscal 2003 were $20.9 billion and net income of 622 million dollars. It was ranked 91st on the Fortune 500 in 2003 (Bestbuy.com). Best Buy stores are redefining the way customers shop by offering an unprecedented assortment of convenient, easy-to-use entertainment and technology products and services, available through its network of more than 550 retail stores in 48 states and online at BestBuy.com. Best Buy is scheduled to open 60 new stores in fiscal 2003 and is on track to reach 650 stores by fiscal 2005. Magnolia Hi-Fi is a high-end electronics retailer specializing in audio and video for the home,...... middle of the paper......and the three roles that make a good manager. I believe that the performance of my manager and other managers includes these technical, human and conceptual skills that constitute a good manager. Their roles as leaders include providing us with the "know how", personal rapport with trust and respect, and they have excellent conceptual skills to get us through difficult times we may find ourselves in at times regarding budget compliance, etc. . (best buy.com). Bottom line, Best Buy has made so much progress and accomplished so much since its inception in 1966, and with the importance of its employees and managers being put first and in definitive roles, it will only move the company further down the road towards success. I'm excited to see what the future holds for Best Buys organizational behavior changes and advancements to stay current and cutting edge.