Essay On Best Buy

Words: 929
Pages: 4

Best Buy was founded in 1966 by the current CEO Richard M. "Dick" Schulze. Based out of Eden Prairie, Minnesota the corporation currently has 446 stores and earned over 83 million in total revenue last year. Best Buy carries a wide variety of products consisting of Major Appliances, video and audio equipment, computers, software, music, and wireless technology. When analyzing this corporation it is important to pay close attention to its current and future services and products, any problems with the corporation, the future direction Best Buy is headed, what can be done for the corporation, and what it can do for you as a consumer or employee.

Best Buy is currently the number one computer retailer throughout the U.S. and offers
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Schulze. "The management team will move ahead quickly with our plans to transform our mall-based stores' product offerings to include MP3 players, cellular telephones, satellite systems, digital imaging, game hardware and software, and an expanded assortment of accessories." It is obvious that Best Buy is always forward thinking in its approach to company expansion. With the company in a constant state of expansion, it creates the need for multiple positions. As new stores are opening, Best Buy needs employees for many different applications. Everyone from the sales floor all the way up to district Management is required for the stores to function as one cohesive whole. The corporation offers employees the chance to move up through the ranks. It has a very elaborate training system dedicated to constantly preparing employees with the tools they need to take over there managers position after they are promoted. Best Buy offers generous stock options to there employees and one of the nicest things is the tremendous employee discount. They are given a discount that is five percent above Best Buy's buying cost. This will encourage many employees to stay with the company and is a benefit to be had for all.

Starting from its small beginnings as a small electronics store, Best buy now own well over 1800 stores between the 440 Best Buy's and all the stores acquired from the MusicLand acquisition. This is just the start for where Best Buy is heading. Where the company will