Best Buy Case Study: Baldridge Award Criteria (Customer Focus)
Best Buy Case Study:
Baldridge Award Criteria (Customer Focus)
By: Robert F. J. Gleadall, R.E.T.
Quality Control System (BTE 313)
Instructor: Michelle Zhang, P. Eng., M. Eng., M.Sc.
February 15, 2014
Northern Alberta Institute of Technology (NAIT)
Best Buy Case Study: Baldridge Award Criteria (Customer Focus)
Introduction
How does any company survive in today’s global market, whether they are large, small or indifferent? Today’s global market place has truly become an enigma, or should I say, “a puzzle within a puzzle, within a puzzle”; however, there have been a precious few that have helped to guide Japan, Corporate America, Corporate Canada and now Corporate Global (The rest of Europe, Asia and the Third World Countries) into a place of success and entrepreneurial enlightenment. Very knowledgeable people like Deming, Crosby and Juran have successfully brought countries out from the “Dark Ages” into the “New World” of business.
The purpose of this case study will be to examine how Best Buy and Future Shop will react after being subjected to the two strategic principals of customer-centricity and segmentation. After carefully examining these companies, observations will be made as to whether these principals were successful or the exercise was defunct.
Future Shop (located in Vancouver, British Columbia, Canada) was the largest consumer electronics stores in Canada, and was started in 1982. They retailed equipment like; computers, stereos, TV’s, large kitchen appliances etc. During 2001, the company had acquired 100 box stores, 7,100 employees and sales of $1.3 billion, (Funding Universe, 2004). In 2001, Future shop was sold to Best Buy for the sum of $580,000,000.00 (CBC News, Business, 2001).
Best Buy Co., Inc., located in Richfield, Minnesota, USA, founded in 1966, and renamed (Best Buy) 1983, is the largest consumer electronics stores in the United States (Best
Baldridge Award Criteria (Customer Focus)
By: Robert F. J. Gleadall, R.E.T.
Quality Control System (BTE 313)
Instructor: Michelle Zhang, P. Eng., M. Eng., M.Sc.
February 15, 2014
Northern Alberta Institute of Technology (NAIT)
Best Buy Case Study: Baldridge Award Criteria (Customer Focus)
Introduction
How does any company survive in today’s global market, whether they are large, small or indifferent? Today’s global market place has truly become an enigma, or should I say, “a puzzle within a puzzle, within a puzzle”; however, there have been a precious few that have helped to guide Japan, Corporate America, Corporate Canada and now Corporate Global (The rest of Europe, Asia and the Third World Countries) into a place of success and entrepreneurial enlightenment. Very knowledgeable people like Deming, Crosby and Juran have successfully brought countries out from the “Dark Ages” into the “New World” of business.
The purpose of this case study will be to examine how Best Buy and Future Shop will react after being subjected to the two strategic principals of customer-centricity and segmentation. After carefully examining these companies, observations will be made as to whether these principals were successful or the exercise was defunct.
Future Shop (located in Vancouver, British Columbia, Canada) was the largest consumer electronics stores in Canada, and was started in 1982. They retailed equipment like; computers, stereos, TV’s, large kitchen appliances etc. During 2001, the company had acquired 100 box stores, 7,100 employees and sales of $1.3 billion, (Funding Universe, 2004). In 2001, Future shop was sold to Best Buy for the sum of $580,000,000.00 (CBC News, Business, 2001).
Best Buy Co., Inc., located in Richfield, Minnesota, USA, founded in 1966, and renamed (Best Buy) 1983, is the largest consumer electronics stores in the United States (Best
References: BusinessDictionary.com (2014) What Does Customer-Centricity Mean? Received From: http:// www.businessdictionary.com/definition/customer-centric.html CBC News, Business, (2001) Best Buy Snaps up Future Shop For $580 Million Gulati R., (2010), Inside Best Buy’s Customer-Centric Strategy. Harvard Business Review, Received From: http://blogs.hbr.org/2010/04/inside-best-buys-customer-cent/ Herrington G., (2011), A Customer Centric Focus- Why It Works! Par Group Samuelson P., Scott A., (1971) Economics. McGraw-Hill, Ed. 3, Toronto, Canada