Hubert Joly: People said I was 'crazy or suicidal' for taking Best Buy job. Then he turned it around
. Naysayers had all but written off the company. Then, he ushered in one of the greatest revivals retail has seen over the past decade.
But first its workers needed to be empowered. Joly gave associates the ability to match prices in stores to those found online, helping to prevent shoppers from checking out its products in stores before buying it more cheaply on the web. "Eighty percent of cost structure is not salary," said Joly, who said he focused first eliminating waste and inefficiencies.
Best Buy decided it not only wanted to sell technology, but it wanted to "enrich lives through technology," which "vastly expands the addressable market."
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