Case Study: Best Buy’s Ceo on Learning to Love Social Media

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Case Study: Best Buy’s CEO on Learning to Love Social Media Question 1: Brian Dunn, CEO of Best Buy, is correct in his belief that social media is an important tool for companies to interact with their stakeholders. Social Media outlets like Facebook and Twitter are powerful tools in which companies should embrace in their effort to build relationships with their potential customers and employees. Currently 98% of Best Buy’s 18 to 24 year old customer base is actively using social media. Over 58% of Best Buy’s entire potential customer base uses a social network of one form or another (Social Networking Statistics). Companies, specifically companies that target individual consumers, cannot ignore this marketing channel, despite the risk associated. Mr. Dunn acknowledges that social media allows Best Buy to develop personal connections with their potential customers, connections that ultimately influence their purchasing (Dunn, B., 2010 p. 5). By actively joining in the online conversation, Best Buy’s leadership must accept that they are giving up control of their message. Best Buy can try to steer the conversation, but it cannot filter every discussion so it reflects positively on Best Buy. This opens the door for unflattering events to take place online beyond their control. Best Buy must be aware that this is a reality and have a clear plan of action in how to respond to criticism. Question 2: Companies should consider a person’s online presence when making employment decisions. An employee represents their company at all times. Previously, employees where limited in their ability to influence the public opinion of their employers. Now employees have a much greater reach and their online presence is either an asset, or a determent, to the employer based on their online behavior. If the candidate or employee can show that they are

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