Customer-centric Employee Training Programs: A Key Contributor to Best Buy`s Success
| Case Code: HROB241 Case Length: 13 Pages Period: 2008-2022 Pub Date: 2023 Teaching Note: Available |
Price: Rs.300 Organization: Best Buy Co., Inc. Industry: Retailing Countries: United States Themes: Training & Development, Corporate Strategy, E-learning,Knowledge Management |
Abstract Case Intro 1 Case Intro 2 Excerpts
Abstract
The case describes in detail how Best Buy aligned its training and development initiatives (T&D) with its multi-year strategic vision, Renew Blue. The retailer designed different sales-centered learning programs based on the required objectives and outcomes. The initiatives helped the retailer arrest the rapidly declining sales in 2012 to ensure that customers kept coming back to its stores.
The case describes the Renew Blue strategy that laid emphasis on five focus areas – customers, leadership, partners, cost reduction, and technology for social impact – that helped rank Best Buy in the top 10 percent of S&P 500 companies by 2017.
The management next unveiled a new medium-term plan ‘Best Buy 2020’ in September 2017 that continued the focus of the Renew Blue strategy by providing better services to existing customers and acquiring new customers through unique offerings and services. In September 2019, the management unveiled ‘Building the New Blue: Chapter Two’ as a continuation to the Best Buy 2020 plan with the objective to enrich the lives of customers through technology and unlock profitable growth.
The case finally focuses on the positive impact of Best Buy’s L&D programs on revenues, customer satisfaction, and employee engagement and reported revenue of more than US$50 billion in fiscal 2022.
Issues
The case is structured to achieve the following teaching objectives:
- Recognize the need for customer centric Training and Development programs.
- Identify the importance of aligning the L&D function with business strategy.
- Examine how training content plays a key role in building a high performance workforce.
- Design different learning programs based on objectives and outcomes.
Contents
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Introduction
Early Training and Development Programs
Focus on customer experience – ‘best buy 2020 – building the new blue’
L&D Focus – ‘Building The New Blue: Chapter Two’
Road Ahead
Exhibits
Keywords
Sales Training; E-learning; Employee Development; Knowledge Management; digital platform; skill development; customer experience; career path; product training
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