Best Buy Executive Summary
Introduction Corporations that have the privilege to earn a position on the Fortune 500 means that you are one of the most powerful companies in America. If a company has the ability to hang around for over 40 years that means they have withstood the changes most industries will endure. Since the popularity of electronics began in the late 20th century, many corporations like Sony and Apple has tried to fill consumers wants and needs. Trying to meet these goals has created opportunities for many big box retailers to leverage their ability to reach a national audience. This type of power has given retailers such as Apple, Sony, Target, Walmart, Radio Shack and Best Buy tremendous revenues that will influence potential shareholders. When
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The balance sheet will outline what the company owes compared to what they own on a certain day (Nickels, McHugh, & McHugh, 2010). Best Buy has seen their equity grow in each of the last five years from $4,484 million to $6,602 million last year. Last year, they reduced their long term debt however the amount of investors increased resulting in their total liabilities staying consist over the last few years. In comparison, Target has increasing deferred taxes that is increased year over …show more content…
All three companies utilize technology to make their processes more efficient and customer friendly. Although they use technology different their business practices for their consumers, they use technological processes for their operations to streamline ordering and to fulfill orders made by customers purchasing products online. Another benefit of technology for all three is social media. Through social media, companies like Best Buy can interact instantly with their customers and gain greater insight to what people are thinking (Nickels, McHugh, & McHugh, 2010). The competitive advantage Best Buy will have technologically is their ability to conduct business through their other brands internationally. Having a presence in the international market gives them an advantage in their purchasing power and the ability to fulfill orders in more areas than their
The balance sheet will outline what the company owes compared to what they own on a certain day (Nickels, McHugh, & McHugh, 2010). Best Buy has seen their equity grow in each of the last five years from $4,484 million to $6,602 million last year. Last year, they reduced their long term debt however the amount of investors increased resulting in their total liabilities staying consist over the last few years. In comparison, Target has increasing deferred taxes that is increased year over …show more content…
All three companies utilize technology to make their processes more efficient and customer friendly. Although they use technology different their business practices for their consumers, they use technological processes for their operations to streamline ordering and to fulfill orders made by customers purchasing products online. Another benefit of technology for all three is social media. Through social media, companies like Best Buy can interact instantly with their customers and gain greater insight to what people are thinking (Nickels, McHugh, & McHugh, 2010). The competitive advantage Best Buy will have technologically is their ability to conduct business through their other brands internationally. Having a presence in the international market gives them an advantage in their purchasing power and the ability to fulfill orders in more areas than their