Environmental and SWOT Analysis for Best Buy Co., Inc.

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Presentation transcript:

Environmental and SWOT Analysis for Best Buy Co., Inc. Kurt Mullins

Macro- and Micro-Environmental Analysis Macro-Environmental Analysis Technological advances Economic downturn Political and regulatory Socio-cultural Micro-Environmental Analysis Industry Competition Suppliers

Macro-External Environmental Analysis Technological advances Frequent introduction of new products. The emergence of online competitors in comparable markets. Product lifestyle and prices decrease causing margins to decrease. Economic Downturn Not necessity products Less disposable income Low-interest financing are given to customers.

Macro- External Environmental Analysis Political and Regulatory Federal Reserve Regulations due to credit card crisis Restricts companies from offering differed interest financing to customers. Socio-cultural Change in leadership in an economically tough time. The new CEO is a new-blood CEO.

Micro-External Environmental Analysis Industry Electronics industry grew during the financial crisis. Barriers to entries have diminished due to globalization. Internet purchasing has negated customer loyalty barrier. Barriers to entry still include economies of scale and advertising. Supplier Geek Squad Magnolia Audio Video Pacific Sales

Micro-External Environmental Analysis Competition Brick and Mortar Competitors Wal-Mart Stores, Inc. (Customer Service Market) GameStop Corp. (Video Game Market) Radio Shack Corp. (Music and Sound Market) Online Competitors Amazon.com, Inc. (Online Retailer Market) Netflix, Inc. (Online Video Streaming Market)

SWOT Analysis Strengths Weaknesses Opportunities Threats

Strengths Accounts for 19% of their market as a consumer electronics retailer. Trained employees with extensive product knowledge. Recognize each customer is unique and knowledge how employee can gain maximum enjoyment. Plenty of high-quality suppliers. Superior customer service. Top-notch products.

Weaknesses Inexperienced CEO. High priced products during a economic downturn. The financial stress.

Opportunities Continued expansion and acquisitions. Great time to “rev-up” the current strategy in an attempt to not fall behind. Create more innovative products. Even more extensive training for upper- and lower-level managers and even employees. To lower long-term debt compared to cash from the discrepancy in 2009.

Threats Best Buy’s financial strength. Quality of Best Buy’s customer service. Federal Reserve restrictions on credit cards. Increased competition within their market. The economic downturn.

Conclusion The company’s Environmental and SWOT analysis shows where the company is compared to it’s external information and how and where the company can go ahead in the future.

Thanks for your attention! Any questions?

References Hill, C. W. L., and Jones, G. R. (2013). Strategic management, an integrated approach (pp. C17-C25), 10th ed.). Mason: South Western. ISBN 9781111825843