Sunday, November 3, 2019

Ethics and Corporate Social Responsibility Case Study - 1

Ethics and Corporate Social Responsibility - Case Study Example The study also aims to assess the impact of these strategies on stakeholders of the company, namely customers, employees and promoters of the brand. The paper tries to establish that the strategy of sustainable development has led to growth of customer base, increased customer retention and has been an overall benefitting investment for the company. Best Buy, through low prices and big discounts, has been attracting several customers, but its policies on sustainable development has also garnered goodwill and increased brand equity. The company uses the policy of recycling of e-waste to increase chances of return sales as well as helps in conserving the environment through sustainable strategies (Luo and Bhattacharya, 2006). Hence, in the study, the effort of Best Buy to implement its sustainable development policies and their impact on the brand has been critically examined. In 1966, Richard Shulze had opened a very  small business  at St. Paul in Minnesota, called  Sound of Music. In the next 17 years, the small store of Shulze had gradually grown into a multi-million dollar firm. By 1983, Sound of Music had changed its name to Best Buy Corporation, Inc. The first superstore opened up in Burnsville, Minnesota, under the new name. The store began selling more brands and appliances. It also started offering central service as well as warehouse distribution. In the nineties, Best Buy was the pioneers to offer newest technology such as, DVDs and HD TVs. By 1999, Best Buy and Microsoft had collaborated for mutual promotion. This has also led them to offer a two for one stock split. Best Buy operates through two business segments, Domestic and International. The  financial security  of Best Buy relies on its stores, Magnolia Audio Visual Stores and the Geek Squad. Between the year 2005 and 2008, Best Buy wanted to achieve a higher income rate than earlier. Four strategies that

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