Critical Analysis 1 - 1154 Words

Christopher Sanchez BA 3103 Christopher Monos 9/23/13 Critical Analysis: Best Buy When Best Buy first opened it was an event that an electronics store could hold such a variety of products, have knowledgeable employees, and offer competitive prices at the same time. Although in 2012 it was reported that revenues for Best Buy increased, the company still fell victim to the problems of having a decrease in net income and operating cash flow. â€Å"The company reported revenues of (U.S. Dollars) USD 50,705.00 million during the fiscal year ended March 2012, an increase of 1.93% over 2011. The operating profit of the company was USD 1,085.00 million during the fiscal year 2012, a decrease of 54.30% from 2011. The net loss of the company was†¦show more content†¦An external factor that could be hurting Best Buy’s profit margin is the number of counterfeit products being traded globally. â€Å"According to the International Anti-Counterfeiting Coalition, about 7% of the world trade is in counterfeit goods. Since 1982, the g lobal trade in illegitimate goods has increased from $5.5 billion to about $600 billion annually (Strategic Analysis 4).† The United States is one of the areas greatly affected by the import of these counterfeit products. Unknowingly Best Buy could have had some counterfeit products enter into their store’s inventory. If a customer gets a counterfeit product, the analysis explains that consumer confidence levels drop and this could negatively impact Best Buy’s net income. One of the most important external factors hindering Best Buy’s performance is that they operate in a highly competitive market. We have seen similar technology companies (Circuit City); close their doors because competitors pushed them out of the market. Best Buy, being a global store, has to deal with competitors in markets that are â€Å"local regional, national, and international (Strategic Analysis 4).† When competition is spread out over different places over the world the difficult lies in tailoring specific products to the customers in a region. With Best Buy being a global company, their products doShow MoreRelatedSource Analysis Part 1 : Critical Summary Essay1484 Words   |  6 PagesSource Analysis Part 1: Critical Summary The experience of virtual reality gives us the chance to explore worlds in which we have not seen. But what happens when your mind can’t tell what is virtual and what is real? Glenn F. Cartwright, a psychology professor at McGill University in Quebec, Canada, explores this topic in the article â€Å"Virtual or Real? 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