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Podcast: HBR On Strategy
Episode: Best Buy’s Hubert Joly on Redefining Your Company’s Purpose
Description: 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. He prioritized fair pay for workers, opportunities for employees to advance, and working with consumers, the larger community, and even competitors.
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...