Management and Organizational Studies 2181A/B Chapter Notes - Chapter 16: Richard T. Schulze, Employee Engagement, Organization Development
1 Apr 2013
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Originally named as sound of music store. 1981: tornado blew off roof of most profitable store: had to resort to selling massive inventory in parking lot. 1983: corporate goal = focused on niche market of adult male shopper. End of 80s: focus = industry cost leader by reduction in sales expenses from 20+% to 11. 2 % Concept iii [mid 90s]: increase profit by combining low & highend products in same store. Concept 4: [end 90s]: customized products to fit consumer needs & launch of bestbuy. com. Concept 5: [2001]: sell solutions from selling individual items: sales team predict customer needs rather than satisfying them, 2003: expansion of international sales. 2002: ceo switch, new ceo anderson jumped concept 6 to concept 7 and launched get closer to customer strategy (a. k. a. customer centric approach: quantify profitability of each customer segment + characterized its needs.
