Problems solving Approach
Problem
Best Buys is in the electronics industry. One major problem that Best Buys has been facing is the increase in the share of the market by Amazon and Walmart. Because of this, Best Buy’s most important competitors went out of the business. As much as having few competitors is good for the business, it is also an indication of reinforced shrinking nature of the business (Kinicki and Fugate, 2015). There was also a problem with leadership whereby Brian Dunn, the previous CEO was forced to resign after having an inappropriate relationship with employees. Another problem in the case study is when Richard Achulze had made an unsolicited attempt to purchase the company and take it private. The leadership of the organization was in its worst position. There was continuous unethical behavior taking place in the company the board of directors was not taking any actions that will help curb such behaviors. Kinicki and Fugate (2015) state that the performance and reputation of Best Buy’s company were not good. These problems led to reduced revenues, poor product quality, and elapsed maintenance due to the low on cash and lack of focus by the management. There were poor customer service and non-competitive prices.
Causes
Most of the problems at Best Buy’s company were because of a lack of code of ethics. Most employees are likely to do wrong if they are unaware of what is right. Without a code of ethics, both the management and employees may be unscrupulous. Peers’ influence is also a problem in the company because every individual feels that the others are doing, and thus they should also do it. The employees behave unethically because they tend to perceive questionable behaviors displayed by those similar to them. Bad example displayed by the management also causes the problems that are happening in the organization. Ethical behavior begins on top. According to Demirtas and Akdogan (2015), employees emulate their leaders, and the most significant factor in ethical leadership is personal character. If workers see their employers doing the wrong thing; they are also likely to engage in unethical activities. Lack of quality products may be due to improper material handling, defective parts, and improper assembly. Lack of competition also kills the morale of the workers. They are not motivated to work hard and produce quality products.
Recommendations
The management needs to promote the values of the company and lead by example. The company can provide ethical training to enable them to know how to avoid unethical behavior and the right action to be taken. To remain competitive in the industry, Best Buys company should strive to produce quality products that are of the right prices. Conducting market research to know the current trends and what customers want is also important. Customers play an important role in the success of the company. Best Buys should, therefore, ensure customers are fully satisfied. They should be provided with the right products, of the right quality, at the right time and place. These will promote long and loyal customer relationships thus increased sales.
Replies
What is ethical behavior in a company? Unethical behavior is any action that is aimed at taking advantage of another without their knowledge or consent. It can also be defined as manipulating someone without his or her permission. Unethical behavior is any action that is aimed at taking advantage of another without their knowledge or consent. It can also be defined as manipulating someone without his or her permission. It is based on morals. Ethical behavior is the right way to behave. It is choosing the right and good. Ethical behavior in an organization is when employees and employers in an organization are on their best behavior. All of their actions and words are following good moral principles.
What is the importance of competition for Best Buys? The competition gives customers the option to choose from a variety of products. When they choose from Best Buys, it shows that it has the best products. Customers can also easily and quickly identify the products of the company. Long-term customer relationships and loyalty are built because of increased completion (Kumar and Pansari, 2016). The competition encourages the company to produce products of the right quality and sell them at the right price. Quality products by a company allow it to stand out from the competitors.
References
Demirtas, O., & Akdogan, A. A. (2015). The effect of ethical leadership behavior on ethical climate, turnover intention, and affective commitment. Journal of Business Ethics, 130(1), 59-67.
Kinicki, A., & Fugate, M. (2015). Organizational behavior: A practical, problem-solving approach. McGraw-Hill Higher Education.
Kumar, V., & Pansari, A. (2016). Competitive advantage through engagement. Journal of marketing research, 53(4), 497-514.