Project part Essay Example | Topics and Well Written Essays - 250 words

Project part - Essay Example These stores are spread in countries like US, Canada, China and Puerto Rico. In the year 2007, the company was able announce and expand its operation up to 40 percent that prospected an increase in stores to a tune of 1800 globally on top of the already existing 1400 stores that operate in US. This great company traces its roots back in 1966 in the state of Minnesota a place called St. Paul where it was called Sound Music Store. (Pinkerton 12) The company waded through the murky waters of business, beating competition until the year 1983 when it rebranded to Best Buy with its first store opening in Burnsville in Minnesota. The company managed to feature in the Forbes magazine in the year 1993 where it was ranked as the second largest consumer shop that retails in electronics thus making it number 373 out of top 500 companies in the US. In the year 1999 the company partnered with Microsoft that enabled it to open a sourcing point and a store in Shanghai, China in the year 2003 and 2007 respectively. The company is now completing its expansion process of putting up stores in countries like Turkey and Mexico as a process of continuing with its global expansion. The company is glorified by becoming the first one ever in the year 1997 in the history of US that pioneered the sale of DVD hardware and software, again it also managed to be the first company that helped in the digital migration from analogue ten years later. The la st fortune came when the company was named company of the year in the Forbes magazine in the year 2004. (Pinkerton,