Strategic Management of Technology
Best Buy (Firm) -- Management, Strategic planning, Amazon.com (Firm), Business planning
Best Buy is a leading provider of technology products, services and solutions. The company opened up as a stereo store in 1966 and journeyed to become a store where every electronic gadget can be found. This was only possible because of high risk expansion strategy. With their revenues soaring high there was no looking back for this organization until 2011 when their sales started to tumble. They couldn’t even fulfill thanksgiving and Christmas orders because an e-commerce retail giant - Amazon- has started eating up business. Amazon was and is putting a lot of big chains out-of-business. However, Best buy was not here to surrender. They changed their operating strategy and today have managed to fend off Amazon by improving their offerings.
This study focuses on researching Best Buy’s stabilizing strategies to improve their sales after the rise of Amazon. By using Porter’s five forces model, the study analyses the forces that affect the most. The aim of this study is to achieve a better understanding of best Buy’s strategic position within the market and advantage over its competitors.
Razavi, Asma, "Best Buy’s Competitive Strategy in Amazon Era" (2018). Engineering and Technology Management Student Projects. 2218.