Best Buy Fights Against Electronic Waste

In: Business and Management

Submitted By levankhoi
Words 5373
Pages 22
Daniels Fund Ethics Initiative
University of New Mexico Best Buy Fights Against Electronic Waste
Although Best Buy has not been in business as long as other established brands, the company is a well-known name both within and outside of the United States. As the largest consumer electronics retailer in the world, it ranks number 72 on the Fortune
500. To maintain its competitive advantage against rivals in specialty electronics, Best
Buy is engaging in competitive pricing strategies, international expansion, and the targeting of a younger demographic.
In addition to discounted and high-quality products, Best Buy became known for its customer-centered approach and sustainable outreach. After realizing the importance of sustainability to its customers, Best Buy implemented an extensive recycling program.
In the process, Best Buy earned itself a name as a socially responsible company. The company also adopted programs and systems to provide flexibility and aid to its employees.
This case provides a brief history of Best Buy, including details on its expansion and the models it implemented to become a success. Next, we discuss Best Buy’s vision, along with the actions the company is taking to turn its vision into a reality. We briefly analyze
Best Buy’s community outreach programs and look at its large-scale environmental initiatives, particularly those regarding energy savings and recycling. Finally, we examine some of the challenges Best Buy is encountering as it struggles to maintain its dominance in the consumer electronics market.
Best Buy has undergone a number of changes over the course of its 50-year history. The company was founded by Richard Schulze, who worked as a representative for a consumer-electronics manufacturer. Schulze recognized that a demand existed among college-age…...

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