Best Buy Swot Analysis Paper
Our group researched Best Buy and Conn’s, which are major electronic retailers. The companies have been competing for many years to become the top electronic retailer. Conn’s is a smaller company than Best Buy but some of Conn’s ratios seem to be better than Best Buy. Best Buy have more marginal debt and also has a lower profit margin, but there are some advantages. For example, Best Buy has a lower average collection period and has a higher return on total assets. Best Buy was established in 1966 by Richard Schulze and Gary Smoliak, originally named Sound of Music. The company started out selling stereo equipment, then in 1983 rebranded itself to consumer electronics, and was renamed to what it is best known as Best Buy company Inc. Not long after, in 1987 started to trade stocks on The New York Stock Exchange. As years go by, Best Buy eventually becomes the top electronic retailer in Canada in 2001. …show more content…
In 2011, Best Buy sold all of their stores in china, in 2013 they sold all of their stores in Europe. As Best Buy has a more focused concerned with their national market, it tries to help the environment by recycling electronic waste, making it their corporate social responsibility. They’ve placed battery recycle centers at each of their stores to help stop the hazardous effect it has on the environment. Since they began this movement they recycled almost 13 million pounds of batteries. Best Buy’s corporate governance, promotes the interest of shareholders by retaining employees and officers to ensure success of the company. They incent their employees, with stocks and bonuses, to ensure that maximum efforts are being put forth for the success of the
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