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Case: Best Buy Co. Inc (2009)

Writing Instructions:

Use APA Format and MS Word docs (only).

1. Build, menu, address the Strategic Audit for Best Buy Co. Inc.

2. Use only information/situation of the year 2009. Don?t fast forward to 2016 or current information or data. (Stay in 2009). Don?t use such future information or data that may suggest that a strategic decision or implementation was undertaken. After all, it could have been a bad strategic decision. Stick to your analysis of the case at the time (2009) and develop your own assessment and decision about what the firm should or shouldn?t do.

3. Be sure to identify your used of outside resource in your SA

1. Corporate web site links: https://corporate.bestbuy.com/

See below is an example of written Strategic Audit (SA) Outline use and a guide to write a SA paper.

SA paper outlined.

I. Current Situation (2009)

a. Current Performance (2009)

How did the corporation perform in the past year overall in term of return on investment, market share, and profitability?

b. Strategic Posture

What are the corporation?s current mission objectives, strategic, and policies?

1. Are they clearly stated, or are they merely implied from performance?

2. Mission: What business(es) is the corporation in? Why?

3. Objectives: What are the corporate, business, and functional objectives? Are they consistent with each other, with the mission, and with the internal and external environments?

4. Strategies: What Strategy or mix of strategies is the corporation following? Are they consistent with each other, with the mission and objectives, and with the internal and external environments?

5. Policies: What are the corporation?s policies? Are they consistent with each other, with the mission, objectives, and strategies, and with the internal and external environments?

6. Do the current mission, objective, strategies, and polices reflect the corporation?s international operations, whether global or multi-domestic?

II. Corporate Governance

a. Board of Directors

1. Who is on the board? Are they internal (employees) or external members?

2. Do they own significant shares of stock?

3. Is the stock privately held or publicly traded? Are there different classes of stock with different voting rights?

4. What do the board members contribute to the corporation in terms of knowledge, skills, background, and connections? Of the corporation has international operations, do board members have international experience? Are board members concerned with environmental sustainability?

5. How long have the board member served on the board?

6. What is their level of involvement in strategic management? Do they merely rubber-stamp top management?s proposals or do they actively participate and suggest future directions? Do they evaluate management?s proposals in terms of environment sustainability?

b. Top Management

1. What person or group constitutes top management?

2. What top management?s chief characteristic in term of knowledge, skills, background and style? If the corporation has international operations, does top management have international experience? Are executives from acquired companies considered part of the top management team?

3. Has top management been responsible for the corporation?s performance over the past few years? How many managers have been in their current position for less than three years? Were they promoted internally or externally hired?

4. Has top management established a systematic approach to strategic management?

5. What is top management?s level of involvement in the strategic management process?

6. How well does top management interact with lower-level managers and with the board of directors?

7. Are strategic decision made ethically in a socially responsible manner?

8. Are strategic decision made in an environmentally sustainable manner?

9. Do top executives own significant amounts of stocks in the corporation?

10. Is top management sufficiently skilled to cope with likely future challenges?

III. External Environment: (Opportunities and Threats)

(Analyze the natural and societal environment to see what general trends are likely to affect the industry(s) in which the company is operating).

a. Opportunities Factors

1. List and analyze 4 or more opportunities factors

b. Threats Factors.

1. List and analyze 4 or more threats factors

c. Task Environment

1. What forces drive industry completion? Are these forces the same globally or do they vary from country to country? Rate each forces as high, medium, or low.

a. Threat of new entrants

b. Bargaining powers of buyers

c. Threats of substitute products or services

d. Bargaining power of suppliers

e. Rivalry among competing firms

f. Relative power of unions, government, special interest groups, etc.

2. What key factors in the immediate environment (that is, customer, competitors, suppliers, creditors, labor union, government, trade association, interest groups, local communities, shareholders) are currently affecting the corporation? Which are current or future threats? Opportunities?

IV. Internal Environment: Strengths and Weaknesses

a. Corporate Structure

1. How is the corporation structured at present?

2. Is the structure clearly understood by everyone in the corporation?

3. Is the present structure consistent with current corporate objectives, strategies, policies and programs, as well as with the firm?s international operations?

4. In what ways does this structure compare with those of similar corporations?

b. Corporate Culture

1. Is there a well-defined or emerging culture composed of shared beliefs, expectation, and values?

2. Is the culture consistent with the current objectives, strategies, policy, and programs?

3. What is the culture?s position on environment sustainability?

4. What is the culture position on other important issues facing the corporation (that is on productivity, quality of performance, adaptability to changing conditions, and internationalization)?

5. Is there culture compatible with employees ?diversity of backgrounds?

6. Does the company take into consideration the values of the culture of each nation in which the firm operates?

c. Corporate Resources

1. Marketing

a. What are the corporation?s current marketing objectives, strategies, polices, and programs?

i. Are they clearing stated or merely implied from performance and or budgets?

ii. Are they consistent with the corporation?s mission, objectives, strategies, and policies and with internal and external environments?

b. How well is the corporation performing in terms of analysis of market position and marketing mix (that is, product, price, place, and promotion) in both domestic and international markets? How dependent is the corporation on a few customers? How big is its market? Where is, it gaining, or losing market share? What percentage of sales comes from developed versus developing regions? Where are current products in the product life cycle?

c. How well does the corporation?s marketing performance compare with that of similar corporations?

d. Does marketing adjust to the condition in each country in which it operates?

e. Does marketing consider environment sustainability when making decision?

f. What is the role of the marketing manager in the strategic management process?

2. Finance

a. What are the corporation?s current financial objectives, strategies, and policies and programs?

b. How well is the corporation performing in terms of financial analysis?

c. How well does the corporation?s financial performance compare with that of similar corporation?

d. Are financial managers using accepted financial concept and techniques to evaluate and improve current corporate and divisional performance?

3. Research and Development (R&D)

a. What are the corporation?s current R&D objectives, strategies, policies, and program?

b. What return is the corporation receiving from its investment in R&D?

c. How well does the corporation?s investment in R&D compare with the investment of similar corporations? How much R&D is being outsourced? Is the corporation using value-chain alliances appropriately for innovation and competitive advantage?

d. Does R&D consider environmental sustainably in product development and packaging?

4. Operations

a. What are the type and extent of operation capabilities of the corporation? How much is done domestically versus internationally? Is purchasing being handle appropriately? Are suppliers and distributors operating in an environmentally sustainable manner? Which products have the highest and lowest profit margins?

b. How well does the corporation perform relative to the completion? It is balancing inventory costs (warehousing) with logistical costs(just-in-time)?

c. What trends emerge from this analysis? What impact have these trends had on past performance and how might these trends affect future performance?

V. Analysis of Strategic Factors (SWOT)

a. Situational Analysis

Of the external and internal factors listed in III and IV, which are the strategic (most important) factors that strongly affects the corporation?s present and future performance?

b. Review of Mission and Objectives

1. Are the current mission and objective appropriate in light of the key strategic factors and problems?

2. Should the mission and objective be changed? If so, how?

3. If they are changed, what will be the effects on the firm?

VI. Strategic Alternatives and Recommended Strategy

a. Strategic Alternatives

1. Cam the current or revised objectives be met through more careful implementation of those strategies presently in use?

2. What are the major feasible alternative strategies available to the corporation? What re the pros and cons of each? Can corporate scenarios be developed and agreed on?

a. Consider stability, growth, and retrenchment as corporate strategies.

b. Consider cost leadership and differentiation as business strategies.

c. Consider any functional strategic alternatives that might be needed for reinforcement of an important cooperate or business strategic alterative.

b. Recommended Strategy

1. Specify which of the strategic alternatives you are recommending for the corporate, business, and functional levels of the corporation. Do you recommend different business or functional strategies for different units of the corporation?

2. Justify your recommendation in terms of its ability to resolve both long term and short term problem and effectively deal with the strategic factors?

3. What policies should be developed or revised to guide effective implementation?

4. What is the impact of your recommendation strategy on the company?s core and distinctive competencies?

VII. Implementation

a. What type of programs or tactics should be developed to implement the recommendation strategy?

1. Who should develop these programs/tactics?

2. Who should oversee these programs/tactics?

b. Are the programs/tactics financially feasible? Can pro forma budgets be developed and agreed on? Are priorities and timetables appropriate to individual programs/tactics?

c. Will new Standard Operation Procedures need to be developed?

VIII. Evaluation and Control

a. Is the current information system capable of providing sufficient feedback on Implementation activities and performance? Can it measure strategic factors?

1. Can performance result be pinpointed by area, unit, project, or fiction?

2. Is the information timely?

3. Is the corporation using benchmarking to evaluate its functions and activities?

b. Are adequate control measure in place to ensure conformance with the recommended strategic plan?

1. Are appropriate standards and measure being used?

2. Are reward systems capable of recognizing and rewarding good performance?

Topic Case: Best Buy Co. Inc (2009)
Writing Instructions:
Use APA Format and MS Word docs (only).
1. Build, menu, address the Strategic Audit for Best Buy Co. Inc.
2. Use only information/situation of the year 2009. Don?t fast forward to 2016 or current information or data. (Stay in 2009). Don?t use such future information or data that may suggest that a strategic decision or implementation was undertaken. After all, it could have been a bad strategic decision. Stick to your analysis of the case at the time (2009) and develop your own assessment and decision about what the firm should or shouldn?t do.
3. Be sure to identify your used of outside resource in your SA
Sources of Information Online Suggested
1. Hoover’s Online – www.hoovers.com
2. U.S. Securities and Exchange Commission – www.sec.gov
3. Fortune 500 – www.fortune.com
4. Dun & Bradsteer’s Online – www.smallbunisess.dnb.com
5. Competitive Intelligence Guide – www.fuld.com
6. Society of COmpetitive Intelligence Professionals – www.scip.org
7. The Economist – www.economist.com
8. CIA World Fact Book – www.cia.gov
9. Bloomberg – www.blomberg.com
10. CEOExpress – www.ceoexpress.com
11. The Wall Street Journal – www.wsj.com
12. Forbes – www.forbes.com/lists/
13. CorporateInformation.com – www.corporateinformation.com
14. Kompass International – www.kompass.com
15. CorpTech – www.corptech.com
16. ADNet – www.companyfinders.com
17. CNN – http://money.cnn.com/news/
18. Paywatch – www.aflcio.org/corporatewatch/paywatch/
19. Global Edge Global REsources – http://globaledge.msu.edu/resourceDesk/
20. Google FInance – www.google.com/finance
21. World Federation of Exchanges – www.world-exchanges.org/
22. SEC International Registry – www.sec.gov/divisions/corpfin/internatl/companies.shtml
23. Yahoo Finance – http://finance.yahoo.com

4. Corporate web site links: https://corporate.bestbuy.com/
See below is an example of written Strategic Audit (SA) Outline use and a guide to write a SA paper.
SA paper outlined.
I. Current Situation (2009)
a. Current Performance (2009)
How did the corporation perform in the past year overall in term of return on investment, market share, and profitability?
b. Strategic Posture
What are the corporation?s current mission objectives, strategic, and policies?
1. Are they clearly stated, or are they merely implied from performance?
2. Mission: What business(es) is the corporation in? Why?
3. Objectives: What are the corporate, business, and functional objectives? Are they consistent with each other, with the mission, and with the internal and external environments?
4. Strategies: What Strategy or mix of strategies is the corporation following? Are they consistent with each other, with the mission and objectives, and with the internal and external environments?
5. Policies: What are the corporation?s policies? Are they consistent with each other, with the mission, objectives, and strategies, and with the internal and external environments?
6. Do the current mission, objective, strategies, and polices reflect the corporation?s international operations, whether global or multi-domestic?

II. Corporate Governance
a. Board of Directors
1. Who is on the board? Are they internal (employees) or external members?
2. Do they own significant shares of stock?
3. Is the stock privately held or publicly traded? Are there different classes of stock with different voting rights?
4. What do the board members contribute to the corporation in terms of knowledge, skills, background, and connections? Of the corporation has international operations, do board members have international experience? Are board members concerned with environmental sustainability?
5. How long have the board member served on the board?
6. What is their level of involvement in strategic management? Do they merely rubber-stamp top management?s proposals or do they actively participate and suggest future directions? Do they evaluate management?s proposals in terms of environment sustainability?
b. Top Management
1. What person or group constitutes top management?
2. What top management?s chief characteristic in term of knowledge, skills, background and style? If the corporation has international operations, does top management have international experience? Are executives from acquired companies considered part of the top management team?
3. Has top management been responsible for the corporation?s performance over the past few years? How many managers have been in their current position for less than three years? Were they promoted internally or externally hired?
4. Has top management established a systematic approach to strategic management?
5. What is top management?s level of involvement in the strategic management process?
6. How well does top management interact with lower-level managers and with the board of directors?
7. Are strategic decision made ethically in a socially responsible manner?
8. Are strategic decision made in an environmentally sustainable manner?
9. Do top executives own significant amounts of stocks in the corporation?
10. Is top management sufficiently skilled to cope with likely future challenges?
III. External Environment: (Opportunities and Threats)
(Analyze the natural and societal environment to see what general trends are likely to affect the industry(s) in which the company is operating).
a. Opportunities Factors
1. List and analyze 4 or more opportunities factors
b. Threats Factors.
1. List and analyze 4 or more threats factors
c. Task Environment
1. What forces drive industry completion? Are these forces the same globally or do they vary from country to country? Rate each forces as high, medium, or low.
a. Threat of new entrants
b. Bargaining powers of buyers
c. Threats of substitute products or services
d. Bargaining power of suppliers
e. Rivalry among competing firms
f. Relative power of unions, government, special interest groups, etc.
2. What key factors in the immediate environment (that is, customer, competitors, suppliers, creditors, labor union, government, trade association, interest groups, local communities, shareholders) are currently affecting the corporation? Which are current or future threats? Opportunities?
IV. Internal Environment: Strengths and Weaknesses
a. Corporate Structure
1. How is the corporation structured at present?
2. Is the structure clearly understood by everyone in the corporation?
3. Is the present structure consistent with current corporate objectives, strategies, policies and programs, as well as with the firm?s international operations?
4. In what ways does this structure compare with those of similar corporations?
b. Corporate Culture
1. Is there a well-defined or emerging culture composed of shared beliefs, expectation, and values?
2. Is the culture consistent with the current objectives, strategies, policy, and programs?
3. What is the culture?s position on environment sustainability?
4. What is the culture position on other important issues facing the corporation (that is on productivity, quality of performance, adaptability to changing conditions, and internationalization)?
5. Is there culture compatible with employees ?diversity of backgrounds?
6. Does the company take into consideration the values of the culture of each nation in which the firm operates?
c. Corporate Resources
1. Marketing
a. What are the corporation?s current marketing objectives, strategies, polices, and programs?
i. Are they clearing stated or merely implied from performance and or budgets?
ii. Are they consistent with the corporation?s mission, objectives, strategies, and policies and with internal and external environments?
b. How well is the corporation performing in terms of analysis of market position and marketing mix (that is, product, price, place, and promotion) in both domestic and international markets? How dependent is the corporation on a few customers? How big is its market? Where is, it gaining, or losing market share? What percentage of sales comes from developed versus developing regions? Where are current products in the product life cycle?
c. How well does the corporation?s marketing performance compare with that of similar corporations?
d. Does marketing adjust to the condition in each country in which it operates?
e. Does marketing consider environment sustainability when making decision?
f. What is the role of the marketing manager in the strategic management process?
2. Finance
a. What are the corporation?s current financial objectives, strategies, and policies and programs?
b. How well is the corporation performing in terms of financial analysis?
c. How well does the corporation?s financial performance compare with that of similar corporation?
d. Are financial managers using accepted financial concept and techniques to evaluate and improve current corporate and divisional performance?
3. Research and Development (R&D)
a. What are the corporation?s current R&D objectives, strategies, policies, and program?
b. What return is the corporation receiving from its investment in R&D?
c. How well does the corporation?s investment in R&D compare with the investment of similar corporations? How much R&D is being outsourced? Is the corporation using value-chain alliances appropriately for innovation and competitive advantage?
d. Does R&D consider environmental sustainably in product development and packaging?
4. Operations
a. What are the type and extent of operation capabilities of the corporation? How much is done domestically versus internationally? Is purchasing being handle appropriately? Are suppliers and distributors operating in an environmentally sustainable manner? Which products have the highest and lowest profit margins?
b. How well does the corporation perform relative to the completion? It is balancing inventory costs (warehousing) with logistical costs(just-in-time)?
c. What trends emerge from this analysis? What impact have these trends had on past performance and how might these trends affect future performance?
V. Analysis of Strategic Factors (SWOT)
a. Situational Analysis
Of the external and internal factors listed in III and IV, which are the strategic (most important) factors that strongly affects the corporation?s present and future performance?
b. Review of Mission and Objectives
1. Are the current mission and objective appropriate in light of the key strategic factors and problems?
2. Should the mission and objective be changed? If so, how?
3. If they are changed, what will be the effects on the firm?
VI. Strategic Alternatives and Recommended Strategy
a. Strategic Alternatives
1. Cam the current or revised objectives be met through more careful implementation of those strategies presently in use?
2. What are the major feasible alternative strategies available to the corporation? What re the pros and cons of each? Can corporate scenarios be developed and agreed on?
a. Consider stability, growth, and retrenchment as corporate strategies.
b. Consider cost leadership and differentiation as business strategies.
c. Consider any functional strategic alternatives that might be needed for reinforcement of an important cooperate or business strategic alterative.
b. Recommended Strategy
1. Specify which of the strategic alternatives you are recommending for the corporate, business, and functional levels of the corporation. Do you recommend different business or functional strategies for different units of the corporation?
2. Justify your recommendation in terms of its ability to resolve both long term and short term problem and effectively deal with the strategic factors?
3. What policies should be developed or revised to guide effective implementation?
4. What is the impact of your recommendation strategy on the company?s core and distinctive competencies?
VII. Implementation
a. What type of programs or tactics should be developed to implement the recommendation strategy?
1. Who should develop these programs/tactics?
2. Who should oversee these programs/tactics?
b. Are the programs/tactics financially feasible? Can pro forma budgets be developed and agreed on? Are priorities and timetables appropriate to individual programs/tactics?
c. Will new Standard Operation Procedures need to be developed?
VIII. Evaluation and Control
a. Is the current information system capable of providing sufficient feedback on Implementation activities and performance? Can it measure strategic factors?
1. Can performance result be pinpointed by area, unit, project, or fiction?
2. Is the information timely?
3. Is the corporation using benchmarking to evaluate its functions and activities?
b. Are adequate control measure in place to ensure conformance with the recommended strategic plan?
1. Are appropriate standards and measure being used?
2. Are reward systems capable of recognizing and rewarding good performance?

BUS 480 Strategic Audit Project
Assessment Form

Reviewer?s Name ___________________________________ [ ] Instructor [ ] Faculty Judging Committee [ ] External Reviewer

Student?s Name________________________________ Project Title ______________________________________

Date_________________________________________ Overall Grade_________________________________ (0-4)

Criteria Performance Level Guidelines
0 ? Failing 1 ? Unacceptable 2 – Acceptable 3 – Good 4 – Excellent
Integration of Prior Coursework (20%)
Application of knowledge gained in all other core business courses is clearly demonstrated through frequent use of course- specific concepts. ? No integration of concepts from other core courses, such as economics, accounting, finance, marketing, management, organizational behavior/theory. ? Little or no integration of concepts from other core courses, such as economics, accounting, finance, marketing, management, organizational behavior/theory. ? Limited integration of concepts from other business courses.
? Some use of terminology from other business courses. ? Good level of integration of concepts from other business courses.
? A model or conceptual framework from outside of the course is presented.
? Good use of terminology from other business courses. ? High level of integration of concepts from other business courses.
? Several models or frameworks from other business courses.
? Excellent use of terminology from other business courses.
Comprehensiveness (20%)
All of the relevant elements of a comprehensive strategic audit project are present ? Many of the major elements of the Strategic Audit are missing.
? Few data are presented. ? Missing major elements of the Strategic Audit.
? Depth of material per line item is unacceptable.
? Data limited to material from text.
? ? Missing some minor elements of the Strategic Audit.
? Data limited to material from this course.

? All required elements of the audit are present.
? Data limited to material from this course. ? Audit is complete and detailed.
? Data are gathered from outside sources and are properly cited.
Quality of analysis (40%)
Findings are consistent with the data; critical thinking skills are evident

? Data contradict conclusions.
? No critical thinking is evident. ? Data do not support the conclusions.
? Very little critical thinking is evident. ? Conclusions are obvious and marginally supported by data.
? Some critical thinking is evident. ? Conclusions are obvious but fully supported.
? Good critical thinking is evident. ? Conclusions move beyond the obvious and are completely supported.
? Excellent critical thinking is evident.
Organization (10%)
Sections and subsections are clearly identified and flow logically and smoothly from one to the next. ? Paper is disorganized.
? Flow of paper is confusing.
? Formatting makes the paper hard to read. ? Paper organization is flawed or unclear.
? No clear flow of ideas.
? Formatting of elements is confusing or inconsistent. ? Paper is organized.
? Some attempt at linking ideas into a logical flow.
? Formatting of elements is acceptable. ? Paper is well organized.
? Ideas flow logically.
? Formatting of elements is good. ? Paper is highly organized.
? Ideas build and flow logically to the conclusion.
? Formatting substantially enhances presentation of material.
Writing Quality (10%)
Use of proper grammar, spelling, sentence structure, vocabulary; ideas are expressed clearly.
? Student shows little knowledge of proper writing skills.
? Ideas within elements are confusing and contradictory. ? Serious spelling or grammatical errors.
? Poor sentence structure.
? Ideas within elements are muddled and unclear. ? Some spelling or grammatical errors.
? Acceptable sentence structure.
? Ideas within elements are not fully developed. ? One or two spelling or grammatical errors.
? Clear sentence and paragraph structure.
? Ideas within elements are adequately developed. ? Little or no spelling or grammatical errors.
? Crisp sentences in logical paragraphs.
? Ideas within elements are highly developed.

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