Policy and Strategy

1019 words 5 pages
Mini Strategic Audit comparison between Best Buy and TigerDirect With the present and the future of our society using the internet for everything from gathering information to shopping, retail giants and other companies like Best buy and TigerDirect.com are flooding the internet with their products and services. With the competition to be the number one rated online retailer, the companies mentioned above and many others like it are constantly improving how to gain new customers. The purpose of this assignment is to provide a mini strategic audit of the two companies above, showing how they differ in strategy management and implementation while simultaneously identifying the importance of strategic management. Let us begin …show more content…
They stock the web site with the latest products, pride themselves by offing the best deals and ensure plenty of information is available to assist the customer in the decision making process. Best Buy’s business strategy is to maximize long-term revenue growth, and is based on two main aspects: consumer centricity, and international expansion. They both take pride in recognizing each and every member of their staff, emphasizing “people are there greatest asset” and that they do make all the difference between success and failure of a company.
Best Buy Strengths
Company size and extensive global distribution network
Core competency in technology service through the Geek squad
Well-known brand
Robust internet presence and online infrastructure
Strong past performance
Best Buy Weaknesses
Major governance issues
Too many brands
Poor inventory management
Weakening financial situation
Best Buy Opportunites
Emerging global markets
Online purchasing is becoming more prevalent
Increasing need for IT outsourcing
Economic recovery
Best Buy Threats
Shareholder lawsuits against value destruction
Limited number of suppliers
Exchange rate fluctuation
Unemployment and recession impacts on discretionary income
Tiger Direct.com Strengths
Core competency

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