Best Buy 2020 is a leadership case that looks into the largest big box consumer electronics chain in the U.S. This case has two major objectives which include business leadership and competitive strategy. To fulfill these learning objectives, a detailed summary of the company’s background leading up to the most recent events is provided. This case focuses on the five CEO’s that Best Buy has had in over fifty years of existence with an emphasis on their decision making while in power. Each with a very unique leadership style has contributed to Best Buy in both beneficial as well as in detrimental ways. The first key event took place in 2012 when the e-commerce giant Amazon, almost forced Best Buy out of the market due to the “showrooming” problem. However, a resilient leader named Hubert Joly took the reins of Best Buy and saved the company from almost certain ruin. Throughout many years of hard fought efforts, Joly was able to bring the company back to a safe level of profitability. He planned his succession strategy and named a new CEO, Corie Barry, who was the CFO under Joly. She started off her new role in 2019 right before the world was forced to change. The worldwide spread of Covid-19 would push the new leader into a sink or swim scenario. If this challenge was not demanding enough, Barry would have to face the realization that their main competition had risen to become the richest company in the world. Amazon’s competitive advantages were perfectly suited to meet consumers’ needs during the crisis. Best Buy, who had just begun to instill new differentiating core competencies would now be asked to re-strategize under new leadership if they hoped to survive in the age of Amazon.
|Analyzed Area||General management|