...IEEE TRANSACTIONS ON SYSTEMS, MAN, AND CYBERNETICS—PART A: SYSTEMS AND HUMANS, VOL. 30, NO. 4, JULY 2000 421 What Makes Consumers Buy from Internet? A Longitudinal Study of Online Shopping Moez Limayem, Mohamed Khalifa, and Anissa Frini Abstract—The objective of this study is to investigate the factors affecting online shopping. A model explaining the impact of different factors on online shopping intentions and behavior is developed based on the Theory of Planned Behavior. The model is then tested empirically in a longitudinal study with two surveys. Data collected from 705 consumers indicate that subjective norms, attitude, and beliefs concerning the consequences of online shopping have significant effects on consumers’ intentions to buy online. Behavioral control and intentions significantly influenced online shopping behavior. The results also provide strong support for the positive effects of personal innovativeness on attitude and intentions to shop online. The implications of the findings for theory and practice are discussed. Index Terms—e-commerce, online shopping, TPB. I. INTRODUCTION HE use of the Internet as a shopping and purchasing medium has seen unprecedented growth. Most experts expect the global electronic market to dramatically impact commerce in the twenty first century. Jaffray [1] estimates the total volume of cybersales to reach $201 billion in 2001 and Forrester Research [2] predicts electronic commerce activities to reach $327 billion in 2002...
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...All about Online Provigil you need to know Provigil pill is used in the treatment of sleep disorders. This is the basic statement which you will get if you search it on the website, but there is more to provigil pill than just treating sleep disorders. Provigil pill is safe to consume, but like majority of the medicines has its side effects on the human. The side-effects of Provigil are not prolonging. There is a lot of misconceptions about the use of provigil, in this particular article we would see the in and out of the medicine Provigil pill. How to use, what precautions to take and whether Provigil is safe or not? Human life is incomplete without sleep. If you are awake for more than 48 hours straight then you are troubling your health and body for the future. Sleep helps in reviving the body for the next day work. Sleep replenishes your body with the required amount of oxygen so that your body gets enough oxygen. Also, sleep helps your muscle get relaxed so that you can feel less stressed. Sleep helps in keeping the body fresh, making your skin get the required time to replenish itself. Provigil pill is important as it treats any problem related to sleep. Provigil helps in getting rid of sleep disorders. Sleep disorders are problems occurring due to changed sleep pattern, odd work shifts and maybe some health problems. Provigil pill is used in the treatment of narcolepsy, obstructive sleep apnea and daytime sleep. Sleep pattern alters most of the time due to work shifts and...
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...Ghoreishi Best Buy: Strategic Audit June 8, 2015 Current Performance: Best Buy’s historical advantage has always been pricing. However, now that other specialty electronics retailers have dropped out of the market with the fall of Tweeter and Circuit City, Best Buy now must compete with discount retailers such as Kmart, Wal-Mart, Target, Sam’s Club, Costco, as well as online retailers like Amazon. Consumers no longer have to go to Best Buy to purchase DVDs because buyers can get them through dozens of online sellers or stream them online via NetFlix or Amazon. You can buy a Blu-ray player or camera at a discount online. Televisions and appliances are the two products Best Buy sells that many people are less likely to purchase online because of their size and prohibitive shipping costs. If Best Buy wants to continue to be the number one seller of electronics and electronics related accessories such as games, DVD's, and electronic wiring, Best Buy needs to focus on shoring up television and appliance dominance to ensure sufficient foot traffic. Best Buy must also address the phenomenon of 'show rooming', which is the practice of shopping for merchandise in a brick-and-mortar store and later buying online at lower prices. In the past, Best Buy has provided only one week training sessions for new hires. However, as a first step to prevent show rooming, Best Buy will provide...
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...ADMIN 404 STRATEGIC MANAGEMENT Assignment one Best Buy Co. Inc : Sustainable Customer Centricity Model? Executive Summary Best Buy is a multinational retailer of consumer electronics. It operates as a retail store and online operations under several brand names in multiple countries, USA, Canada, Mexico, China and Europe. In Canada it operates under Future shop and Best buy names, offering in five revenue categories: Consumer electronics, Computing and Mobile phones, Entertainment, Services and other. Best buy’s mission is to become the leading multi-channel retailer by serving their customers and making a meaningful difference in their lives. Introduction and company overview Incorporated in Minnesota USA in 1966 as Sound of Music, Inc., Best Buy today is a multi-national, multi-channel retailer of technology products, including tablets, computers, televisions, mobile phones, large and small appliances, digital imaging and related accessories. It employs approximately 140,000 full-time, part-time and seasonal employees worldwide, it offers to its employees company-paid, full benefits that vary from location to location. Best buy’s success relies on the design and execution of appropriate business strategies. Best buy’s current strategy includes transformational change to many areas of business including online and in-store customer experience, employee-engagement, partnership with vendors and cost control, these strategies were adopted since 2012 as a result...
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...Is Best Buy the Best? Is Best Buy the Best? Best Buy is one of the leading retailers in electronics and electronic services. With the growing popularity of online shopping, some retail stores are experiencing less physical business and more e-commerce. Best Buy has adapted to this trend and is still able to maintain many stores throughout the nation. The company simultaneously provides an easily navigated website to reach all of its client preferences. To maintain a structure as this, a company must have superior management and functionality. There are four basic fundamentals that encompass the management of a successful business such as Best Buy. The traditional functions are planning, organizing, leading, and controlling. These functions are affected by several external and internal factors such as globalization, technology, innovation, diversity, and ethics. Five Common Factors In 2010, Best Buy separated itself as a company into three divisions; the Americas, Asia and Europe. Each division was created with an executive vice-president running each area who would report to the Chief Executive Officer (Ernst & Young Global Limited). When the company planned this out, it created a self-paced region instead of the entire company proceeding as a whole. In other words, Asia can progress at a different pace then the Americas in all aspects. This plan enabled all regions and the Chief Executive Officer (CEO) to use their brains and ideas from clients to develop more efficient...
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...Competitive Strategy Best Buy Best Buy Group D9 THEME: How Best Buy has maintained and enhanced its Competitive Advantage over the years by constantly seeking a favorable competitive position in the Consumer Electronics retailing industry 1 Table of Contents Contents Objective of the report Executive Summary Part I – Early beginnings & Hyper-growth Part II – Initiating Change at Best Buy -- Recognizing the need for change -- First attempt at change (formulating the Standard Operating Platform) -- Head-Heart-Hands approach to change management (Overcoming Cognitive Inertia) -- Institutionalizing the Change Management Process (Overcoming Action Inertia) -- Impact of the SOP on the Best Buy's operations Part III - Revisiting the Drawing Board -- Building new skill sets -- Formulating Customer Centricity (deploying a new game strategy) -- Implementing Customer Centricity (reconfiguring the value chain) -- Reaping the gains from Customer Centricity Part IV – Staving off Competition: Click & Mortar model -- Industry going through a phase of Intermediating Change -- Where does Best Buy go from here? -- Experimenting may payoff but need to commit References used Page no 2 3 4-5 5-9 5 6 6-7 7-8 8-9 9-12 9-10 10-11 11 12 13-14 13 13 13-14 15 1 Objective of Report Best Buy Co., Inc has been a leading player in the Electronics & Appliances retailing industry for several years now. It has withstood several cycles of churn in the Industry; seen many of its competitors...
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...Proposal Document Project Proposal This is the project proposal from Team EMC to Best Buy Bonsai for Website Project. Requirements from Best Buy Bonsai: The project proposal is based upon the requirements provided by Best Buy Bonsai as follows: Create an online website that provides online ordering and payment option, Online inventory list with photos and price Contact information and store locations listed Proposal from Team EMC Team EMC proposes to provide a website to Best Buy Bonsai by providing the following: Creating a public facing website for the company that allows online view of inventory and purchasing of products and payment option through PayPal. Provide Contact information and location of physical Stores Option for company to pay for online advertising of website Design Methodology: Team EMC will provide an Agile approach to the project with weekly iterations for Best Buy Bonsai to review each phase of the build out of the product for approval. Website Overview and Layout The URL to the website will be: http://www.bestbuybonsai.com/Index.html The website will show the following links: Home Page Link : http://www.bestbuybonsai.com/index.html The home page has links to Inventory, About Us, Payment Center and Contact us link The home page will show the name of the company Best Buy Bonsai, main phone number for the business and a Welcome message.est Buy Bonsai © 20 | 2007. Let us help you Inventory Link : http://www.bestbuybonsai.com/Products...
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...Umeed Sherpa Critical Analysis Paper 3 Dr. Christopher Monos BA 3103 Section 008 4th April, 2014 Best Buy Hits Rock Bottom Best buy the specialty retailer of consumer electronics in the United States is no longer the all-powerful super store that it used to be. Over the last fifteen years Best Buy, like many retailers, is “competing with a perfect storm of disruptive technologies (Savitz 2)”; making it hard to compete with companies such as such as Apple and Amazon that are embraced with innovations. As a result, Best Buys 2012 financial performance fell subpar, with a revenue decrease of 2.4% in the brick and mortar sector and operating profit plummeting by 54.30% in 2012. The net loss of the company was $1,231.00 million for 2012, against a net profit of $1,277.00 million during 2011 (Global Data 1). Lastly, Best Buy appears to be having cash flow problems in terms of declining liquidity of $1125 million (41.28% drop) for the year 2011. It is obvious by these numbers that Best Buy, a company that has been historically successful, has been running into some recent troubles. In this report I will conduct a situational analysis of potential causes of Best Buy’s problems and identify the major causes for declining revenue, net loss and declining cash flow position. Revenues Declining Best buy’s main source of revenues is contributed from the US market (76%) out of which the traditional brick and mortar accounts for 94% of the revenues and rest is from e-commerce segment...
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...Best Buy Annual Report Project Summary and Conclusions 1. Company’s Performance: Profitability: (Gross Margin, Profit Margin, Return on assets, Return on shareholder’s equity, Return on Market Equity) * In recent years , Best Buy Co., Inc. has seen revenues shrink from $50705M USD to $45085 USD, and the company‘s net income from $1317USD to -441M USD. * Activity: * Poor Inventory Management * Total assets turnover is 2.99 in 2013, total assets management of the company is seems higher than Store competitors Radioshack, hhgregg , Aaron’s, Inc. * Inventory Turnover is turn down year to year 7.19 to 6.08 * Low Account Receivable Turnover ratio implies, the company should re-assess its credit policies in order to ensure the timely collection of imparted credit that is not earning interest for the company.(2009 to 2013 recespectvely;37.35 to 19.62) Solvency: Liquidity Enhanced Quick Ratio: The amounts of cash equivalents at February 2, 2013, and March 3, 2012, were $740 million and $343 million, respectively, * Declining Liquidity Cash Flows: Goodwill Impairment, Restructuring Charges, Interest Expenses, Loss from Discontinued Operations, Net Earnings from non controlling interest Increasing label of inventory year after year (more investment on inventory) 2. Company’s Strength/Doing well and Improving Areas: * Geek Squad expertise and knowledge, * Total assets management, assets turnover is improved continuously since...
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...Best Buy: Progressing Through Technology Issue Best Buy can improve customer service by allowing users to shop online at home using laptop or desktop computers. Today consumers demand a rapid way to buy a product, and it is the job of information systems to meet the customer’s demands. The internet has become the new standard for information which allows Best Buy to be customer centric. Customer service is extremely valuable because it is much cheaper to keep old customers than it is to attract new ones. Customers are sure to recommend the business to friends and family if service is acceptable. It makes sense using the internet as a tool to make customers happy, and Best Buy can do this with its shopping website. Application of Text Material As mentioned in the book, “consumers’ expectations are rising and demand an increase in the variety of products available” (Collier & Evans, 16). Not only are consumers’ expecting high performance and features, quick and exceptional service is wanted. With such high demands come innovation to “create new and unique goods and services that delight customers” (Collier & Evans, 46). Technology helps with keeping up with these demands. Online shopping has become a new way to shop faster. Also, online deals are not offered at the store. Customers can read the features of products listed online before going to Best Buy. One thing...
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...Employee Training and Development Employees are an integral part of an organization’s ultimate success; an organization’s goal should not only be to attract high quality employees, but also to produce them. In order to cope with the rapid changes in the external environments, organizations need to grow and innovate continuously and sustain itself in a highly competitive market by strengthening or expanding knowledge base, skills and abilities of their employees (Truitt, 2011). Thus organizations must implement effective training programs to help their employees gain essential skills they need for success, productivity and enhanced job performance. Training and education have shown to have a significant positive effect on job involvement, job satisfaction and organizational commitment (Truitt, 2011). Effective training programs should foster “positive relationship between learning satisfaction and the effectiveness of the learning applied” (Truitt, 2011, p.2). Training should be aimed to provide employees with proficiency in the execution of given tasks and allows employees to enhance their skills and competence levels and to ensure that they have access to all the resources that they need to support development and growth. Employee training “typically entails personal involvement, commitment, and experiential gains” and involves “learning by doing” (Hughey & Mussnug, 1997, p. ). Positive training may assist with the reduction of anxiety and frustration which most employees...
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...Best Buy MGT/521 - MANAGEMENT BUSINESS Description Best Buy or BBY is one of the leading developers of technology products and technology services. Best Buy is broken down into two segments; domestic and international, and works under a variety of names. In the domestic region there is Best Buy, Best Buy Mobile, Magnolia Audio Video, Pacific Sales, and Geek Squad. The international regions include; Canada, China, Mexico and Europe and use the brand names; Best Buy, Cell Shop, Best Buy Mobile, Five Star, Future Shop, Connect Pro, Geek Squad, The Carphone Warehouse, Geek Squad, and The Phone House. (Reuters, 2012) Best Buy stores currently make their money in six categories: • Consumer Electronics – Video products like TVs, DVD and Blu-ray players. Audio products like MP3 players, home theater audio systems and components, • Entertainment – Video games, DVDs, Blu-rays, CDs, and computer software, • Services – Installation from home theater and mobile audio, warranties, and repair, • Computing and Mobile Phones – Laptops, desktops, tablets, and printers, • Appliances – Major and small appliances, Other – Snacks and beverages History To understand the history of Best Buy, one would have to know the history of its founder, Richard M. Schulze. Mr. Schulze and a partner started Sound of Music, Inc. in 1966 with their first store in St. Paul, Minnesota. Four years later Schulze bought out his partner and decided to expand. His first step to expand came in 1982...
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...Description of Primary Research……………………………………………...9 Good copy of Survey……………………………………………………………....10 Findings and Conclusions……………………………………………………….12 Interpretation of analysis……………………………………………………….16 Recommendations/Conclusion……………………………………………….20 Introduction The innovated product that my company has created and launched is the Ever Lasting laptop. Since, this is the first product that I have launched a general survey will be needed to get a general sense of the population. A marketing survey is a great way to help your team to grow and also for consumers to know that your product is going to be launched. This marketing survey will be needed to find out what consumers want in their laptops and generally where they buy their laptops. To add on, my survey will also give me information on the general income that the population has. The ever-lasting laptop with 10-year battery that I am releasing is generally for teens and adults. This is because; teens need computers to help them function in school and adults need laptops to make-work easier and quicker for them. The price that I will be selling my product for is $599.99. Procedures and Research Methods Secondary Research (Stats Can) City | Age/Group(15-64) | Size(Square ft.) | Education | Income | Employ-ment | Household(Total number of persons in private household) | City A(brampton | M=177,595F=184,510 | 266.34 | No education=17.2%High school Diploma=26.4%Post...
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...Best Buy 47 of Fortune’s 500 Constance Bartram MGT 521 April 16, 2012 Louise Stelma A mutual fund manager looking to invest in Best Buy would want to know the strengths, weaknesses, opportunities, and threats (SWOT). This provides information concerning the health and stability of Best Buy. Conducting a SWOT analysis shows if the company is implementing strategies gained from a SWOT analysis. This can reveal Best Buy’s future existence and success. The mutual fund manager also needs to identify the external and internal stakeholders and how Best Buy meets the wants and needs of the stakeholders. SWOT The strengths of Best Buy include high brand recognition, affordable prices, special offers, convenient locations, and a strong online presence. Best Buy is large enough to afford marketing so that it can use prime time television and radio spots to reach its potential customers. The weaknesses of Best Buy range from impersonal customer service to costs of maintaining huge warehouses and stores. This year already Best Buy lost 1.7 billion. Recently Best Buy announced it is closing 50 of its stores and is planning to open smaller stores and work on a stronger online presence. This will help them avoid what happened to Circuit City and also help compete with Amazon (USA Today, 2012). Potential opportunities are new gadgets and electronics with the latest digital cameras, cell phones, video games, and new television models becoming more popular. If Best...
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...Executive Summary Best Buy Co.,Inc. is an American multinational consumer electronics corporation, the company was founded by Richard M. Schulze and Gary Smoliak in 1966. Globally, with over 100,000 employees, Best Buy was named “Company of the year” by Forbes magazine in 2004. The company achieved its early success by using low cost strategy. As a leading company in the consumer electronic retail industry, Best Buy understands the importance of high quality customer service. The company’s lead market position is attributed to its differentiation strategy, reputable brand name, and series of acquisition. The external analysis indicates that the highest competitive force in the company is the internal rivalry and risk of new competitor to enter into the market. The performance of Best Buy and other competitors in the consumer electronic retail industry really depends on macro environmental factors. The biggest threat that most industries in the global market are facing, is the threat caused by the current economic situation. The internal analysis indicates that strength of the company is their reputable brand name, size, and market presence. Best Buy built its reputation by offering consumer high quality service and new shopping experience. The company expands its business into different market through series of acquisition. The company’s biggest weakness is that company have too much long term debt , which could damage investor’s trust on the company’s performance. ...
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