Unleashing Human Magic at Best Buy

The case examines the transformation of Best Buy under CEO Hubert Joly's leadership from 2012. Facing significant business challenges, including competition from online and physical retailers, Joly implemented the "Renew Blue" turnaround strategy, which focused on improving price competitiveness, enhancing the customer experience both in-store and online, partnering with major tech companies, and investing in employee training and engagement. The case further explores the development and execution of the "Building the New Blue" strategy, aiming to enrich lives through technology by addressing key human needs and expanding services such as in-home advisors and entering the health care market. The case highlights the approach Joly calls "Unleashing Human Magic," which focuses on the importance of aligning company purpose with employee motivation and customer needs to drive business growth and transformation.