Business Summary of Best Buy Co. Inc.

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Summary Best Buy Co., Inc. is a multinational company in the United States and it deals, with consumer electronics, and accounts 19% of the business. The company also operates in Mexico, Puerto Rico, China, and Canada. Some of the subsidiaries of the company include CinemaNow, Geek Squad, Pacific Sales, and Magnolia Audio Video and operates in both Future Shop label, and Best Buy in Canada. Best Buy Co. Inc and its subsidiaries operate more than 1,150 stores internationally and domestically. The company also operates more than 100 “ZoomShops” or Buy Express Automated retail Stores, operated by the Zoom Systems, in both malls and airports in the entire country of the U.S. The company is headquartered in Richfield, Minnesota, U.S (Scott, 2012). In 2009, Best buy was one of the largest electronic stores in the eastern U.S.; however, Fry’s electronics remains to be the leading competitor in the western US, while Hhgregg Inc is the key competitor in the eastern US. In December 2008, the company had 1,010 Best Buy stores, 7 stand-alone Geek Squad stores, 13 Magnolia Audio Video Stores, 13 best Buy Mobile Stores, 3 Audio Visions Stores and 17 Pacific Sales Stores in all US retail subsidiaries. The company also opened its first international global procurement office in 2003, in China, so as to have higher speeds and lower costs to market by buying products directly from the manufacturers. The currency exchange for the past 24 months, what has occurred and the economic variables that have influenced in the exchange rate movements According to the Indian Rupee exchange rate graph, the Indian rupee has lost almost 20% of its value as compared to the dollar in 2011. Traders of bulk commodities in India hedge against the exchange-rate risk,... ... middle of paper ... ... leads to a limitation on the intervention in the foreign exchange by RBI to boost rupee especially when is not doing well (Sumanth, 2012). In that case, this kind of experience is not as comfortable, and this regards the foreign exchange market to focus on the currency of the country when Rupee is at downward pressure. Still the situation is not that stable, and about the foreign exchange reserves, the country is still run within the resources. On the political sector, the situations are supportive of the required policies. In India, just as in America, being a member of the opposition means one has to oppose every policy on the ruling party if even if it is against one's original stand. In India, there is a talk of party paralysis, thanks to UPA in action (Scott, 2012). However, there are a lot of contributions to this policy paralyses from the opposing parties.

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