Impact of Technology
Explain how information technology affects strategies of the organization where you worked most recently. What other external factors could affect the use of new technologies? Explain how technology can impact an organizations external environment. Please use examples to highlight your points.
Best Buy Company, Incorporated: Competitive Strategies
Best Buy is the largest consumer electronics retailer in the United States with fiscal 2018 sales over $42 billion. The company competes aggressively on price with rivals, such as Costco Wholesale, Sams Club, Walmart, and Target, but is also known by consumers for its first-rate customer service. Best Buy customers have commented that the retailers sales staff is exceptionally knowledgeable about products and can direct them to the exact location of difficult to find items. Best Buy customers also appreciate that demonstration models of PC monitors, digital media players, and other electronics are fully powered and ready for in-store use. Best Buys Geek Squad tech support and installation services are additional customer service features valued by many customers.
How would you characterize Best Buys competitive strategy? Should it be classified as a low-cost provider strategy, a differentiation strategy, or a best-cost strategy? Which one of the five generic competitive strategies best characterizes Best Buy? Explain your answer.
Foreign Market Relations
Evaluate the advantages and disadvantages of beginning export operations in a foreign market.Evaluate the major differences between U.S and multinational operations that affect strategicmanagement. What role does U.S. foreign relations impact the U.S. economy? Do businessesneed foreign policies? Explain your answers
Business Diversification
What specific resources and capabilities does your previous or present company possess that would make it attractive to diversify into related businesses? What kinds of benefits from a strategic fit could be captured by transferring resources and competitive capabilities to newly acquired related businesses?
