Human Resource Management of Best Buy

[netrashetty]

Human Resource Management of Best Buy : Best Buy Co., Inc. (NYSE: BBY) is a specialty retailer of consumer electronics in the United States, accounting for 19% of the market. It also operates in Mexico, Canada, China, Turkey and the United Kingdom.[2] The company's subsidiaries include Geek Squad, Magnolia Audio Video, Pacific Sales, and, in Canada operates under both the Best Buy and Future Shop label. Together these operate more than 1,150 stores in the United States, Puerto Rico, Canada, China,[3] Mexico, and Turkey. In addition, the company has rolled out over 100 Best Buy Express Automated Retail stores or "ZoomShops", operated by Zoom Systems, in airports and malls around the U.S. [4] The company's corporate headquarters are located in Richfield, Minnesota.

Best Buy was named "Company of the Year" by Forbes magazine in 2004,[5] "Specialty Retailer of the Decade" by Discount Store News in 2001,[6] ranked in the Top 10 of "America's Most Generous Corporations" by Forbes magazine in 2005 (based on 2004 giving),[7] and made Fortune magazine's List of Most Admired Companies in 2006.[8]

On March 9, 2009, Best Buy became the primary electronics retail store (online and bricks and mortar) in the eastern United States, after smaller rival Circuit City went out of business. Fry's Electronics remains a major competitor in the western United States. Many locations feature in-store pickup, which can be arranged through the company's website.[9]



Performance management has three parts:
 Defining the performance
 Measuring or appraising performance
 Feedback of the performance.

Performance Management System

The Performance Management system of any company is to check whether the employee performance is aligned with strategic goals. claims to be value leaders in the Mobile Phone industry and future goal is to transform to perform with speed flexibility and enterprising spirit of being an innovative, consumer focused company.
Furthermore, the employees who perform well are given opportunities to further develop themselves. Normally the weak points are pin pointed so that the employees can improve themselves.
Process of Performance Management

At , the process of performance management starts by defining performance. Performance cannot be defined without a clear knowledge of the job that is to be performed by the employees. At the managerial level, it is very difficult to define performance of the employees keeping in view their quantitative aspects. Due to large variety of managerial jobs at , the performance of managers is analyzed on a qualitative measure.
At , jobs are analyzed after particular time or when ever there is a need of job analysis and performance is defined. After that, this definition of performance is communicated to all the employees and it is made sure that they work on these measures as they are also appraised on the same measures.
After performance has been defined, all the required behaviors for the managers are studied in detail and some indicators are developed which are necessary to judge whether the employee is performing good or bad. The indicators that are in favor of the required performance are called “Positive Indicators” and the indicators against it are called “Contra Indicators.”
Given below are the behaviors with their required performance for managers :

1. Managing work:

Manages own work in the most efficient and effective way plans and prioritizes own work, breaking down the task. Uses available resources effectively (own time, systems, finances, people, information) Prepares well and has everything at hand.Has an organized approach to work.
At a supervisory level:
• Delegates tasks effectively
• Coaches subordinate(s) to achieve tasks

2. Analyzing and understanding:
 Understands own role, responsibilities, and tasks and solves problems.
 Seeks clarification by probing, questioning and challenging
 Anticipates and thinks around problems / issues
 Recognizes own limitations and other resources - knows when help is needed.
 Considers and evaluates all options - is able to weigh things up
 Makes sound judgments and decisions.
 Is able to be discreet and maintain confidentiality.
3. Processing work:
 Processes and produces work to meet all the deadlines.
 Follows appropriate procedures in a methodical and systematic way.
 Seeks appropriate approvals and authority
 Maintains routine tasks and systems - filing, info systems, diaries, etc...
 Monitors and reviews own tasks, makes appropriate checks
 Is accurate and pays attention to detail.


4. Adaptability:
Is flexible and responds positively to changes.
 Accepts changes enthusiastically
 Is willing to learn/change
 Is open to new / other ideas
 Is able to perform under pressure
5. Initiative:
Uses initiative and seeks improvement
 Is curious and inquisitive
 Generates ideas
 Develops and makes improvements
 Learns from experience
 Is able to work with minimum supervision / direction
6. Relationships:
 Has a good working relationship with others, both within and outside the organization.
 Builds informal working relationships
 Co-operates with others, is a team player
 Understands and is sensitive to the needs of other people
 Persuades and negotiates - is able to gain commitment
 Confronts problems and is assertive when necessary
 
7. Communication:
Communicates confidently and clearly with others
 Is clear and concise in communication
 Effectively communicates own needs
 Liaises and consults with others
 Is able to communicate effectively in writing
8. Commitment:
 Displays commitment and self-motivation
 Completes and finishes tasks, not giving up
 Is conscientious and takes pride in their work
 Works to high standards
 Is reliable and consistent - not letting others down

 

[jamescord]

Best Buy Co., Inc. (NYSE: BBY) is a specialty retailer of consumer electronics in the United States, accounting for 19% of the market. It also operates in Mexico, Canada, China, Turkey and the United Kingdom.[2] The company's subsidiaries include Geek Squad, Magnolia Audio Video, Pacific Sales, and, in Canada operates under both the Best Buy and Future Shop label. Together these operate more than 1,150 stores in the United States, Puerto Rico, Canada, China,[3] Mexico, and Turkey. In addition, the company has rolled out over 100 Best Buy Express Automated Retail stores or "ZoomShops", operated by Zoom Systems, in airports and malls around the U.S. [4] The company's corporate headquarters are located in Richfield, Minnesota.

Best Buy was named "Company of the Year" by Forbes magazine in 2004,[5] "Specialty Retailer of the Decade" by Discount Store News in 2001,[6] ranked in the Top 10 of "America's Most Generous Corporations" by Forbes magazine in 2005 (based on 2004 giving),[7] and made Fortune magazine's List of Most Admired Companies in 2006.[8]

On March 9, 2009, Best Buy became the primary electronics retail store (online and bricks and mortar) in the eastern United States, after smaller rival Circuit City went out of business. Fry's Electronics remains a major competitor in the western United States. Many locations feature in-store pickup, which can be arranged through the company's website.[9]



Performance management has three parts:
 Defining the performance
 Measuring or appraising performance
 Feedback of the performance.

Performance Management System

The Performance Management system of any company is to check whether the employee performance is aligned with strategic goals. claims to be value leaders in the Mobile Phone industry and future goal is to transform to perform with speed flexibility and enterprising spirit of being an innovative, consumer focused company.
Furthermore, the employees who perform well are given opportunities to further develop themselves. Normally the weak points are pin pointed so that the employees can improve themselves.
Process of Performance Management

At , the process of performance management starts by defining performance. Performance cannot be defined without a clear knowledge of the job that is to be performed by the employees. At the managerial level, it is very difficult to define performance of the employees keeping in view their quantitative aspects. Due to large variety of managerial jobs at , the performance of managers is analyzed on a qualitative measure.
At , jobs are analyzed after particular time or when ever there is a need of job analysis and performance is defined. After that, this definition of performance is communicated to all the employees and it is made sure that they work on these measures as they are also appraised on the same measures.
After performance has been defined, all the required behaviors for the managers are studied in detail and some indicators are developed which are necessary to judge whether the employee is performing good or bad. The indicators that are in favor of the required performance are called “Positive Indicators” and the indicators against it are called “Contra Indicators.”
Given below are the behaviors with their required performance for managers :

1. Managing work:

Manages own work in the most efficient and effective way plans and prioritizes own work, breaking down the task. Uses available resources effectively (own time, systems, finances, people, information) Prepares well and has everything at hand.Has an organized approach to work.
At a supervisory level:
• Delegates tasks effectively
• Coaches subordinate(s) to achieve tasks

2. Analyzing and understanding:
 Understands own role, responsibilities, and tasks and solves problems.
 Seeks clarification by probing, questioning and challenging
 Anticipates and thinks around problems / issues
 Recognizes own limitations and other resources - knows when help is needed.
 Considers and evaluates all options - is able to weigh things up
 Makes sound judgments and decisions.
 Is able to be discreet and maintain confidentiality.
3. Processing work:
 Processes and produces work to meet all the deadlines.
 Follows appropriate procedures in a methodical and systematic way.
 Seeks appropriate approvals and authority
 Maintains routine tasks and systems - filing, info systems, diaries, etc...
 Monitors and reviews own tasks, makes appropriate checks
 Is accurate and pays attention to detail.


4. Adaptability:
Is flexible and responds positively to changes.
 Accepts changes enthusiastically
 Is willing to learn/change
 Is open to new / other ideas
 Is able to perform under pressure
5. Initiative:
Uses initiative and seeks improvement
 Is curious and inquisitive
 Generates ideas
 Develops and makes improvements
 Learns from experience
 Is able to work with minimum supervision / direction
6. Relationships:
 Has a good working relationship with others, both within and outside the organization.
 Builds informal working relationships
 Co-operates with others, is a team player
 Understands and is sensitive to the needs of other people
 Persuades and negotiates - is able to gain commitment
 Confronts problems and is assertive when necessary
 
7. Communication:
Communicates confidently and clearly with others
 Is clear and concise in communication
 Effectively communicates own needs
 Liaises and consults with others
 Is able to communicate effectively in writing
8. Commitment:
 Displays commitment and self-motivation
 Completes and finishes tasks, not giving up
 Is conscientious and takes pride in their work
 Works to high standards
 Is reliable and consistent - not letting others down

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