HBR On Strategy
Best Buy’s Hubert Joly on Redefining Your Company’s Purpose
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Show notes
When Hubert Joly became CEO of Best Buy in 2012, online retailers like Amazon were exploding in popularity, and Best Buy was facing a sea change. But Joly famously turned around the struggling electronics retailer by changing the organization’s holistic strategy. In this episode, you’ll learn how Joly re-defined Best Buy’s purpose and aligned incentives with that larger strategy. You’ll also learn how he found mutually beneficial ways for the company to work with competitors and suppliers, including Amazon, the e-commerce giant that once threatened the company’s survival.