Best Buy Managing For Competitive Advantage Commerce Essay

silk hat Buy Managing For war-ridden Advantage Commerce EssayThe newspaper publisher is a critical examination of outstrip Buy managing for competitive advantage. The essay brings frontward strategies Best Buy uses as healthy as how these strategies ar drop into action in order for it to gain competitive advantage e really(prenominal) manoeuver its competitors. emulous advantage refers to eagerness of strategic advantages a commercial enterprisingness hold in adopted that make it be in a erupt built in bed to compete or take down out shine its rivals. Thus attaining Competitive Advantage fortifies and places an organization in a better position deep down the competitive demarcation gentleman.According to Pfeffer 21, this theory of competitive advantage was brought aside by Porter Michael back in 1990. He suggested that business entities as sanitary as other non-profit institutions need to adopt some policies, procedures and plans that leave al 1 help it to de velop very high quality goods and go that suffer be sold at high prices to consumers.With the fact that almost wholly kind of business entities do fit out very taut competitions thither is thus need for each and every organization to adopt the outstrip strategies that will help them cut themselves an distinctness in this competitive world of business, Best Buy non being an exception. However various business and instruction scholars have come to a conclusion that having these strategies is not essential unless they are adequately managed hence competitive advantage management (Pfeffer 142). This refers to set of mechanisms and plans that not only places and organization at an upper hand as compared to its competitors but making it stand out in the business environment.The paper recognizes Best Buy competitive advantage as being it customer-centricity this implies delivering modified and extremely personalized service to clients. All this has been attained by automating t he services it provides to customers by using online services.Best Buy customer centered dodgeIt has been argued out that once an organization intelligibly understands the need, wants and aspiration of its customers, there is postcode that will block it from excelling provided it takes corrective actions towards attaining the same. Additionally, research as shown that business entities that focal point or are customer oriented do have higher chances of securing a competitive advantage which in most cases translates to higher gross generation, price earnings ratio, highly satisfied customers thus creating customer loyalty. This apprehension seems to have been well mastered by Best Buy. For instance, since the plan was turn out, the profit margin for the organization rose by almost 3% (Jaynie Flanagan 122).It is worth mentioning that the schema has been successful thanks to technological innovation that has allowed customers to even buy good 24/7 even during the holidays. It i s important to find although this strategy was recently launched, the organization adequately trained and educated its store-level hands so that they could be in a position to have in mind the varied necessarily of the customers on the basis of how they were segmented.One strategy that was a milestone in taking the business where it is to day is customers segmentation. Best Buy segmented its customers into five different levels which include small-business customers that utilize the business services and products to foster increased profits in their business, busy mothers go away in suburban that aim at enriching their kids way of life with technological innovation especially in entertainment,, men having families that are in avocation of bettering their general way of living done entertainment and other ways, early men who are is thirst of technological innovation and finally very rich professionals that seek the best in terms of entertainment as well as other life experienc es. It is worth noting heretthat this I in line with the notion brought forth by Mentzer in his article titles Achieving Competitive Advantage through Supply Chain Management he suggested that not all customers are created equally because there are those that are very crucial to success of any organization while some are not as crucial as other and thus need to be treated by using a different approach. This has been adequately addressed by Best Buy by segmenting its customers (Mentzer 3).According to Mentzer 1 after successfully carrying out a survey, which included slightly everyplace thirty of its stores, Best Buy started rolling the strategy of computerizing the quote-to-order process aimed at making it possible for customers to buy in a 24/7 hour basis even if it is on holidays. In total all over hundred of the keep companys store adopted this strategy. Reports suggested that the company financial result could be boosted and indeed it was and that less cynical outcomes are ex pected as well as development of a stable link between the company and its customers.Additionally, it is important to remember that for any organization to be prosperous even in its best strategies, the part played by its workforce is of paramount, it is unvarnished that the company did provide education and training to its employees so that they could be well equipped with knowledge to help customers. An example where customer centricity was attained through the efforts of store employees is in Pasadena store in which there was a reconfiguration of the place to appeal to suburban mothers (Peppers Rogers 4) It entailed transferring small electrical appliances to a low shove situated on the walk way of the store from high shelves, this boosted gross sales of the same to almost two folds.Generally speaking, the company strategy essentially rests on viewing its initiatives from the customers point of view, clearly understanding what they need as well as trying its best in meeting these needs (Jaynie Flanagan 211). According to the vice chairman and CEO of the company, this is what gives them a cutting edge in the business environment.On the same note, the company has adopted a way of distributing its goods that is inline with customers demand and aspirations. This has time and a gained been managed by using enterprise resource planning system that seem to have successfully synchronised the need of clients. Additionally, the company best strategy is also its ability to admit it various chains of supply together with what its stores need (Peppers Rogers 2) this has resulted to those employees who work as sales representative having at their disposal a variety of products that meet the needs of those customers that are dear to the company.Similarly, it is worth mentioning that Best Buy has successfully adopted technological innovation whereby customers need not to come to their stores to contain or see those appliances they plan to buy. This carries with i t a number of advantages for instance comfort station and lack of being pressurized by sales persons to buy (Pfeffer 164). Additionally, it give one enough time to scrutinize the features one desire to have in a given appliance.ConclusionFrom the review of competitive advantage management of Best Buy Company, it is evident that technological innovation adoption and counselling in customer and empowering its employees are among the strategies that have played a better part in shaping the company. What make the company different is that it has clearly understood what its customers need and have taken serious steps towards attaining those things desired by the customers. It is thus no doubt that the company has thrived despite stiff competition from other well known business organizations such as Wal Mart, Dell among other. In my view, every organization must adopt a set of strategies to help it thrive now and in future.