Best Buy Finance MBA Recruiting Presentation 2010
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Transcript of Best Buy Finance MBA Recruiting Presentation 2010
BEST BUY CAMPUS RECRUITING
2010-2011
OUR COMPANY
Humble Beginnings
• Founded 1966 by Richard Schulze as “Sound of Music”
Forging New Paths
• Name changed to “Best Buy” in 1983, first superstore opens
• Listed on New York stock exchange in 1987
Reaching New Heights
• Best Buy entered Fortune 500 in 1995
• Achieved #1 U.S. market share in 1999
• Expanded into Canada in 2001, China in 2006
• Expanded relationship with The Carphone Warehouse and entered Europe in 2008
BEST BUY HISTORY
(click here for video)
180,000+ Employees Worldwide
BUILDING GLOBAL ASSETS
Stor
e Co
unt
Source: Fiscal 2011 Q1 store counts
Total U.S. Stores
1,207
1,081
80
35
6 5
US DOMESTIC FOOTPRINT
Canada
Mexico &Turkey
Sto
re C
ou
nt
Source: Per fiscal 2011 Q1 store counts, Canada includes 4 Best Buy mobile stores; Count includes 3 UK and 1 Turkey big box stores opened subsequent to Q1 reporting.
144
70
Total
214165
158
China
7
Total
UK / Europe
2,433
1,551
Total
879
37
INTERNATIONAL FOOTPRINT
Extended warranties, computer and home theater set-up/installation/repair and deliveries
Services
Washers & dryers, refrigerators, stoves, dishwashers and air conditioning products
Appliances
Video gaming hardware and software, DVDs and CDs
Entertainment Software
Computers (laptop & desktop), tablets, mobile phones, hard drives and printers
Home Office
TV, cameras, MP3 players, DVD players, audio equipment and GPS devices
Consumer Electronics
Main Products/ServicesRevenue Category
Extended warranties, computer and home theater set-up/installation/repair and deliveries
Services
Washers & dryers, refrigerators, stoves, dishwashers and air conditioning products
Appliances
Video gaming hardware and software, DVDs and CDs
Entertainment Software
Home Office
Consumer Electronics
Main Products/ServicesRevenue Category
OUR PRODUCTS
• Have Fun While Being the Best
• Learn from Challenge and
Change
• Show Respect, Humility and
Integrity
• Unleash the Power of Our People
OUR VALUES
CONNECTED WORLD STRATEGY
We anticipate that the world will become even more “connected” over the next
5 years• 240 million “connected” consumer electronic devices to be sold
per year by 2012• 4 times more profit generated “outside the device” than
through hardware sales
THE WORLD IS TRANSFORMING TO A CONNECTED WORLD
Shareholder Value
Solving CustomersProblems
With World-Class Partners
To Create
CONNECTING CUSTOMERS TO TECHNOLOGY SOLUTIONS
FINANCE
CFOUnited States
CFOInternational
VPTreasurer
VPController
EnterpriseCFO
VPInvestor Relations
PresidentFin Services
DirectorInternal Audit
VPFin Planning
VPCorp Development
ExecutiveSupport
FINANCE ORGANIZATION
Decision Support
Real Estate
Marketing & Human Resources
Supply Chain
Customer Solutions Group
International
Information Technology
Channels
Corporate Finance
Financial Planning and Analysis
Business Analysis
Treasury
Corporate Development
Best Buy Capital
Investor Relations
Tax
FINANCE DEPARTMENTS
Finance professionals can chart his/her own personalized career path
that entails development of finance and business skills
SFABusiness Analysis
SFACorporate Treasury
ManagerFinancial Planning
SFACustomer Solutions
SAMPLE CAREER PATH
Senior Financial Analyst
Manager
Director
Vice President
Senior Vice President
Executive Vice President
Financial Analyst
CAREER PROGRESSION
Should we lower prices on the 55” Sony LED TV?Establishing the pricing strategy before the Holiday drive time to mitigate risk associated with macro-economic factors and competition while maintaining
profitability
Senior Merchant, Home Solutions
Demand Planning Finance
Marketing Retail Operations
Strategy
DAY IN THE LIFE
How should we finance our China business operations?
Treasury reviews analysis with cross functional team of experts who play an integral role in the funding of international subsidiaries
Manager, Treasury
Director, Asia Treasury
Tax
Legal
AccountingSFA, Treasury
DAY IN THE LIFE
CompanyOrientation
12 WeekDuration
CorporateNetworking
Team Project
SocialEvents
MeaningfulContribution
INTERNSHIP PROGRAM
Passion For Our
Customers
StrongBusinessAcumen
PartnershipMentality
InnateFinancialAcumen
Willingness To Fight For
Things Worth The Fight
AnAppetite for
Change
OUR PEOPLE – SUCCESS CHARACTERISTICS
Technical and Professional Ability
Good Business andStrategic Aptitude
Proactive andSelf-motivated
ArticulateCommunication
Skills
Seasoned Critical Thinking
An Appetite forAmbiguity
WHAT WE LOOK FOR
ABOUT
• 2.9 million people – 13th largest metro area in the U.S.
• Forbes Magazine’s “Most Affordable Place to Live Well” in 2007 (Minneapolis)• Forbes Magazine’s “Best City for Young Professionals (2008)• Money Magazine ranked 5 Twin City cities in the Top 25 as Best Places to Live
Eden Prairie MN was #1 (click here for more info)
• 21 Fortune 500 Companies – most Fortune 500 companies per capita(Minnesota ranks 7th among states in Fortune 500 company headquarters – list includes:United Health, Target, Supervalu, CHS, 3M, US Bancorp, General Mills, Medtronic, Land O Lakes, Mosaic, Excel Energy, Ameriprise, etc.) (click here for more info)
• Entertainment and cultural center of the Midwest
• “Nations Second Fittest City” –Men’s Health• Miles of walking, running and bike paths around lakes of the cities.• Quality of life enhanced by philanthropic efforts of corporate community
• Diverse population• Many pro and college sports teams
TWIN CITIES
• Full Gym/Wellness Center on site
• Daycare on site
• Two Caribou Coffee Shops on site
• US Bank on site
• Gaming Area in Lobby
• Free Covered Garage Parking Available
• FedEx/Kinkos on site
• Geek Squad on site
• Dry Cleaning / Tailor on site
• Park n Ride available
• Wireless in all buildings
CORPORATE CAMPUS
Rewards at Best Buy
Compensation BenefitsLearning &
Development Work Environment• Base Pay• Short-Term
Incentive• Long-Term
Incentive• Blue Crew Bucks• Spot Bonuses /
Recognition
• Health• Wealth
• Employee Discount• Time Off
• Tuition Assistance
• Training• Mentoring
• Career and Self- Development
• Strengths-Based Environment
• Results Oriented • Fun
• Collaborative• Innovative
Direct Financial Indirect Financial Career Development Affiliation
REWARDS
1. Campus Presentations Today
2. Apply @ your schools’ career services website Now
3. Apply @ www.bestbuy-jobs.com Now
4. Full-time on campus 1st round interviews November 04
5. Full-time 2nd round interviews at Best Buy Corporate November 19
6. Intern on campus 1st round interviews February 02
7. Intern 2nd round interviews at Best Buy Corporate TBD
Interact with us!
Best Buy Finance Blog: bestbuyfinanceblog.com, Facebook (
Best Buy Finance MBA Recruiting) and Twitter (@BBYFinanceBlog)
NEXT STEPS
QUESTIONS?