Description
Unsure of legal obligations in designing a total compensation plan, a client has asked you, as a human resources consultant, to explain how certain laws and regulations affect total compensation in their organization. The client's organization employs 200 people, is a federal contractor, and operates in the biotech industry.
Write a 350- to 700-word paper (in third person voice) providing examples of laws and regulations influencing total compensation.
Analyze similarities and differences in total compensation between this organization and other organizations in different external markets.
Discuss at least two examples that illustrate such similarities and differences.
Format your paper consistent with APA guidelines.
ORIGINAL WORK ONLY
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Explanation & Answer
Attached.
Running head: BEST BUY COMPANY
1
Best Buy Company
Institution Affiliation
Date
BEST BUY COMPANY
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Organization Background
Best Buy is an American multinational that deals with consumer electronic goods and
various related goods such as software, music, video games, and digital cameras among others.
The company has its headquarters in Richfield, Minnesota in the United States of America
(corporate.bestbuy.com). The company has its operations in the United States, Canada and
Mexico. The company was founded in 1966 by Richard M. Schulze together with Garry Smoliak
basically as a store that specializes in audios. Its subsidiaries include the Geek Squad and the
Pacific Sales. The company operates under several brands that include Best Buy, Geek Squad
and Pacific Sales Brands. The company sells cellular phones from different companies including
Verizon wireless. Sprint Corporation, T-Mobile among others. The company also has its
presence in many parts of the world including the United Kingdom and China. The company also
provides expert services at a very competitive rates which makes it reach to over 1.5 billion
customers every year (corporate.bestbuy.com). Its customer base is drawn from individuals,
small and middle business owners, corporations, educators and online customers who use the
company’s website.
Currently, the company is under the management of Hubert Joly who is the chairman and
the Chief Executive Officer of Best Buy Company. Other senior management positions include
Chief Human Resource Officer, Senior Executive Vice President, Chief Financial Officer and
Chief Communication Officer. Together with his team of top management, they have seen the
company grow to higher height and achieve more sales. The company has total annual revenue
of about 40 Billion Dollars. It also has a total of over 1400 stores which are spread out across
United States, Canada and Mexico. It also employs slightly above 125,000 staffs who work on
full time basis. This is quite a remarkable performance of the company.
BEST BUY COMPANY
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SWOT Analysis
Best Buy Company Strength, Weakness, Opportunity and Threats (SWOT) analysis will
help to justify the company’s good reputation and its position on the quality, accessibility and
affordability of its products. Through the analysis, the company can be able to know how well it
can maximize on its strength and use of every opportunity while working on its weaknesses and
threats (Blocher, et al., 2015). The following is the SWOT analysis chart.
Strengths
Weaknesses
Good corporate image and reputation which
High reliance on physical stores at a time
promotes customer loyalty.
where business is going online.
A very strong marketing team and marketing
High reliance of supplier credit which means
strategies.
most of the goods is not paid for.
Good business relationship with trusted brands
such as Apple.
High revenues of 40 billion Dollars.
Proven track record which builds clients
confidence.
Opportunities
Threats
The rising demand for electronic goods which
High competition from online stores such as
are the key products of the company
Amazon and Netflix.
BEST BUY COMPANY
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Constant innovation of new electronic products High reliance of customers on online stores
thus building more sales.
which makes ...