Recently Businessweek Selected 5 questions from readers to be asked to incoming CEO of BEST BUY Brian Dunn.
I happened to send my question which was among the 5 that were selected.
My question was:
In present era of economic downturn where reducing costs & avoiding risks are important....how do you make sure that new ideas selected will be successful. How do you choose & test the feasibility of new ideas before their actual implementation in order to make sure innovation practices are successful.
Check out the response from Dunn as he mention how in the present scenario having new Ideas and testing new ideas become important and how Best Buy is using its methodology to regularly test new ideas at selected stores and then phasing out selected ideas nationally reducing the risk of failure.
Also during the Interview, notice as he talks about attention being paid to Customer, As Dunn mentions, the focus on customer is even more important during these times which will ensure not only customer walking into the store but also a purchase.