Environmental and SWOT Analysis for Best Buy Co., Inc.
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 Buys financial strength. Quality of Best Buys customer service.
Federal Reserve restrictions on credit cards. Increased competition within their market. The economic downturn. Conclusion The companys Environmental and SWOT analysis shows where the company is compared to its 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
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