Strategic Reformulation and change
Strategic Reformulation and change
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Business environment
Geek Squad Company and Best Buy are business organizations that have partnered to provide services such as installation of networks, setting up of an entertainment system and debugging of a computer. Changes have occurs with new products being innovated and services on how to handle them becoming a challenge to many consumers.
Change management is a factor in an organization that affects the business environment and an environmental scan is done to identify with changes. Geek Squad company has undergone Strategy reformulation process that forces it to carefully observe the changing environment and to be ready for any changes that might occur. Their strategic plan has enabled the organization to determine its effective plans in assisting customers about any invented product (Williamson & Cooke, 2013).
Challenges the company faced
The challenges that Geek Squad Company encounters include: Competition, the regulatory environment and economics (Hartley, 2013). Geeks Competitors are Wal-Mart and PC makers like Dell which give a discount to its customers and offer their own services. For instance Cable and Dell-On-Call Companies offer their own services. The economic state shows that from 2009 the electronics prices are declining and the median income for women consumers increasing in purchasing but penetration rate is below 40%. The regulatory environment changes with respect to electronic movement of Copyrighted materials like the music, software and movies. Geek Squad should observe the changes to make certain that its services abide to significant laws (Zimmerman & Blythe, 2005).
Shifts made – Technological Innovation
The company made technological Innovation changes For instance, innovating high-definition televisions, Wireless broadband technology and products with Internet interfaces. In addition, introduction of applications and new products such as a new trend toward phones, computers, and entertainment systems. Some technology-related problems like lost data, spyware, viruses and crashed Computers. New technologies create demand for new ways of maintenance for instance defragging, password management, disk cleanup and operating system updates (Williamson & Cooke, 2013).
Future success
Geek squad has combined positive environmental factors that bring about to its success. Currently it repairs approximately 3000PCs within a day and makes more than $1 billion in income. In regard to their high profit-margin, they bring in to the overall performance of best buy as well as assisting in making traffic in the store while maintaining store loyalty (Zimmerman & Blythe, 2005).
Additional recommendations for the firm
For the firm to continue to maintain customer value, it should Scan the environment and create new approaches such as creating more locations that are convenient for consumers as well as, an approach of creating new houses designed for the newest consumers of electronics products. For this approach to be effective the company has entered into partnership with a home builder to network and wire new houses with high speed cables.
In addition it uses new technology to improve to run diagnostic tests on the customers’ equipments. Geek squad and Best buy companies are trying a result only work environment to attract the best employees since it has no mandatory meeting as well as no fixed schedules. The geek squad encourages employees so that it can keep the employee’s productivity and morale high (Zimmerman & Blythe, 2005).
Reference
Hartley, S. (2013). Scanning the marketing environment. (Vol. chapter 3, pp. 67-89). London;
New York: McGraw-Hill Higher Education. Retrieved from http://highered.mcgrahill.com/sites/dl/free/0073529931/782262/Chapter03.pdf
Williamson, D., & Cooke, P. (2013). Strategic management and business analysis. (3 ed.).
United States of America: Rutledge.
Zimmerman, A. S., & Blythe, J. (2005). Business-to-business marketing management: A global
Perspective. Italy: Cengage Learning EMEA.
