Using Best Buy Co Inc as your company:

Provide alternatives or strategies that the company could implement to the following perceived problems. Include a minimum of three alternatives with multiple advantages/disadvantages of each applying the strengths and weaknesses within the company (Alternative 1, Alternative 2... using bullet points is fine).

Perceived Problems:

1. Tough Competition: Best Buy confronts tremendous rivalry from both brick-and-mortar stores, such as Walmart and Target, and online merchants, such as Amazon. Intense competition has led to diminishing sales and profit margins in recent years.

2. Consumer Shifts: There has been a shift in consumer behavior towards internet buying and away from brick-and-mortar establishments. This has led to a reduction in foot traffic at Best Buy locations and a shift in sales towards online channels.

3. Dependency on Important Products: Best Buy has a considerable dependence on key products such as mobile phones and televisions for a substantial amount of their sales. This dependence puts the company at risk if there is a movement in consumer demand away from these products.