Question

Best Buy Co Inc. headquartered in Richfield, Minnesota is a multinational American retailer of Consumer Electronics Corporation. It also retails home office products, entertainment products, appliances and its related services . They operate under different names through their call centers, retail stores and online retail operations e.g. Best Buy (Bestbuy.com, Bestbuy.ca, Bestbuy.co.uk, BestBuyMobile.com etc). In addition to this, it also operates under the names of Carphone Warehouse (CarphoneWarehouse.com), Five Star (Five-Star.cn), Future Shop (FutureShop.ca), Geek Squad, Pacific sales, the Phone House (PhoneHouse.com), Napster (Napster.com), and Magnolia Audio Video. Best buy operates in two segments; first comes the domestic segment and the other is the international segment .

The domestic segment as of FY 2011 operates in all the states districts and territories under various brand names, which are not confined to the ones that are mentioned above. Whereas, the international segment operates in Canada (Best Buy, Best Buy Mobile, Cell Shop, Connect Pro, Future Shop and Greek Squad), Europe (Best Buy, The Carphone Warehouse, The Phone House and the Greek Squad), China (Best Buy, Greek Squad, Five Star), Mexico (Best Buy and Greek Squad) and Turkey (Best Buy and Greek Squad).

At present the operations under the domestic segment are carried by store brand name and district managers, which are overseen by the retail field officer. The manager and the officers meet regularly to discuss issues on how to manage process efficiencies. This has helped them in corporate retail management, by setting up standard procedures that has been adjusted according to local consumer demands. Moreover, the international operations are each carried in a different manner so as to facilitate consumers . For example, the European market is controlled through a corporate retail management program, which looks into the issues of advertising, inventory management, purchasing and price setting. The Canadian market uses a standardized operating system that employs an operating model, which is imitated from the U.S Best Buy Mobile stores (COMMISSION, 2011). The Chinese market operations are in practice to support Five Star and Best Buy; these are the two brands that are operating there. And lastly, the U.K, Mexican and Turkish markets operate on the U.S model of Best Buy Stores .

As the market is being strongly challenged by foreign and online operators using, how can best buy use concepts of LSS to ensure sustainability.

Answer 1

As the market is being strongly challenged by foreign and online operators using, how can best buy use concepts of LSS to ensure sustainability.

Identifying the location and placement in the industry life cycle is important because it will help Best Buy Merging Lean Six Sigma to make important future decisions and strategies with innovation. In this phase, the best purchase merging lean six sygma with innovation will require high capital. Best Buy Combining Lean Six Sigma will require resources and funding to begin ambitious marketing campaigns. In order to promote the company's physical development as machinery and property acquisitions, funds are also required. Such considerations can not be changed by Best Buy Merging Lean Six Sigma with Technology and then affect the sales and activities of the firm. This ensures that Best Buy Combining Lean Six Sigma and Creativity will make sure that the external world is continuously analyzed and investigated to ensure it addresses external factors and taking them into consideration in the production of strategic decisions and strategies. Companies such as Best Buy Combining Lean Six Sigma and Creativity actively use strategic forecasting techniques to ensure they are aware of the outside world.

The best buy blend Lean Six Sigma with creativity is to move into more new territories and industries. Another business suggestion. First of all, it is important to extend into new markets. This expansion provides new customer segments with access to the business. In addition to diversifying income sources, raise the overal consumption volume. This will also have global and foreign access to the business related growth. The Business should be in a position to retain competitive advantage and to drive new market competitor aside, by the continuous enhancement of the network of performance and through incorporating efficiency and improved elements at different points. This will allow the business to stay competitive on other competitors and retain a potential leading role on local and foreign markets and industries.