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Great article on Best Buys decision to offer free recycling of gadgets large and small, more than 25 million pounds of ISTB -- that's company lingo for in-store take-back -- has made its way to the company's 1,044 U.S. stores. Best Buy decided to ge into recycling old electronics at the behest of its employees and customers.
"One of my roles as CEO is to be the chief listener," Dunn told Fortune during an interview at Best Buy's headquarters outside Minneapolis. "I don't believe that the model is any longer that there are a few really smart people at the top of the pyramid that make all the strategic decisions. It is much more about being all around the enterprise, and looking for people with great ideas and passionate points of view that are anchored to the business and connected to things our customers care about."
Best Buy, as a result, has decided that being a good corporate citizen makes business sense. As a manufacturer of electronics, Best Buy audits the factories of its suppliers, mostly in Asia, to make sure they don't exploit workers or pollute the environment. (It severed ties with 26 factories last year, out of about 200.)
Dunn believes that sustainability is a rising social value -- and therefore a business opportunity.
Best Buy's commitment to corporate responsibility dovetails well with the company's emerging strategy and business model. To set itself apart from Wal-Mart and Amazon (AMZN, Fortune 500), its biggest competitors, Best Buy wants to do more than sell consumer electronics. It would like to help customers get better use out of technology, whether they are buying, installing, fixing, or disposing of their hardware. Says Dunn: "We're transitioning from just being a mover of boxes."
Great article on Best Buys decision to offer free recycling of gadgets large and small, more than 25 million pounds of ISTB -- that's company lingo for in-store take-back -- has made its way to the company's 1,044 U.S. stores. Best Buy decided to ge into recycling old electronics at the behest of its employees and customers.
"One of my roles as CEO is to be the chief listener," Dunn told Fortune during an interview at Best Buy's headquarters outside Minneapolis. "I don't believe that the model is any longer that there are a few really smart people at the top of the pyramid that make all the strategic decisions. It is much more about being all around the enterprise, and looking for people with great ideas and passionate points of view that are anchored to the business and connected to things our customers care about."
Best Buy, as a result, has decided that being a good corporate citizen makes business sense. As a manufacturer of electronics, Best Buy audits the factories of its suppliers, mostly in Asia, to make sure they don't exploit workers or pollute the environment. (It severed ties with 26 factories last year, out of about 200.)
Dunn believes that sustainability is a rising social value -- and therefore a business opportunity.
Best Buy's commitment to corporate responsibility dovetails well with the company's emerging strategy and business model. To set itself apart from Wal-Mart and Amazon (AMZN, Fortune 500), its biggest competitors, Best Buy wants to do more than sell consumer electronics. It would like to help customers get better use out of technology, whether they are buying, installing, fixing, or disposing of their hardware. Says Dunn: "We're transitioning from just being a mover of boxes."
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