Consumer electronics retailer Best Buy is doing everything wrong.
Yep, failure to innovate quickly enough in an age of rapid innovation.
Failure to know & implement HOW to innovation
The Wall Street Journal post on this curation site and this Forbes article make a good pair, a good mash-up of why Innovation and Institutions, Will it Blend is a continuing question on survivability.
Here's an excerpt:
....The company remains a ripe target for more nimble competitors.
...To discover the real reasons behind the company’s decline, just take this simple test. Walk into one of the company’s retail locations or shop online. And try, really try, not to lose your temper.
I admit. I can’t do it.
...According to the company’s website, it’s backordered but available for pickup at the store we visited. The item wasn’t there, however, and the sales staff had no information.
...my friend decided to buy some other blu-ray discs. Or at least he tried to, until we were “assisted” by a young, poorly groomed sales clerk from the TV department, who wandered over to interrogate us. What kind of TV do you have? Do you have a cable service, or a satellite service? Do you have a triple play service plan?
My friend politely but firmly told him he was not interested in switching his service...The used car style questions continued.
We left the store, my friend having made his purchase but both of us fuming.