ID 150 University of Evansville Best Buy Corporate Profile Essay

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Business Finance

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The Instructions are in the word document; It is preferred to draw ideas from the Book (Business Communication Essentials By Bovee and Thill) I couldn't fin the book free online. If you have it or can find it online for free that is a plus, if not it's okay just have couple other outsources.

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Corporate Profile Module I (Best Buy) Use the outline below as a guide. You are to include three independent sources (not including the textbook or corporation web site) in this section. 1. Introduce your company. What does it do? How did it get started? How does it add value? Who are the customers it competes for? What risks confront the company? What type of business is it—goods-producing or service? What industry does it operate in? What is it known for? Write an opening paragraph that engages your reader from the outset! 2. State its mission, vision, and values. Define these terms using the definition from Bovee and Thill (textbook). The mission: Most companies state their mission on their website. Use your company’s own words in your paper. The vision: You may have difficulty finding a statement of your company’s vision; if you can’t find it, you should state the vision in your own words based on what you have read about the company’s philosophy and values. Values: You should find your company’s values on its website. 3. Analyze your company’s mission statement. Does it match the book's definition of a good mission statement? Why or why not? Is it just “vague happy talk” or does it really say why the company exists? Requirements: • • APA format Double space 4 pages
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Running head: BEST BUY

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Best Buy Corporate Profile
Name
Course
Tutor
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BEST BUY

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Best Buy Corporate Profile

Best Buy is a Richfield, Minnesota-based electronics retailer. The business was founded
in 1966, and it was basically an audio specialty store. At that time, it was called Sound of Music.
However, the business underwent a significant rebranding in 1966, where the proprietors put
emphasis on consumer electronics. Today, the company only operates in three countries, namely
the United States, Mexico, and Canada. Previously, the company had operations in Europe and
China, but it ceased operating in these countries in 2012 and 2011, respectively. The decision
cease operating in these two countries was necessitated by factors beyond the control of Best
Bust such fluctuation in market demands, inflation, and an increase in the costs of operations.
These, alongside other factors, hindered the business from achieving stability in the markets. In
2004, Forbes Magazine named Best Buy the retailer of the year in the category of the Specialty
Retailer of the decade category. The business model of Best Buy is that it acts as a conduit
through which manufacturers of a wide range of electronic products can reach their targets.
Notably, the company does not manufacture any electronic product, but it collects an assortment
of electronics and sells them to its clients. One of the ways in which the company adds value to
its products is that it has an online platform or community where it interacts with its clients. It is
on this platfo...


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