One of our key measures of success is the extent to which we positively affect the world, enriching people’s lives through the use of technology and contributing to the common good.
For Best Buy, 2016 was a milestone year as we celebrated our 50th anniversary. We are proud of our accomplishments and look forward to continued success on behalf of all our stakeholders.
One of our key measures of success is the extent to which we positively affect the world, enriching people’s lives through the use of technology and contributing to the common good. Specifically, we focus on five pillars in our ongoing work to prepare Best Buy for the next 50 years of growth:
- Improving the customer experience;
- Growing transformational leaders;
- Working with our vendors to drive innovation;
- Increasing the company’s return to shareholders; and
- Making the world a better place.
These have been our guiding principles the past several years and have helped steer us toward delivering shared success through all aspects of our business. Critical to the notion of “shared success” is our belief that we play an important role in the communities in which we live and work. In the past 50 years we have employed millions of Americans, touching countless lives as we serve customers and help Best Buy families buy homes, pay for college, care for elderly parents or prepare for retirement. In growing transformational leaders, our commitment to diversity, both gender and race, delivers shared success for our company and communities. In fact, 50 percent of my direct reports are women, and nearly half of our board of directors is female.
Two causes we care deeply about as we strive to make the world a better place are the environment and education. For instance, we have been named an ENERGY STAR® Partner of the Year by the U.S. Environmental Protection Agency for three straight years, a reflection of our commitment to help consumers benefit from energy-efficient products. Our consumers have enjoyed millions of dollars in energy savings, and our carbon footprint has been cut by 43 percent (over a 2009 baseline).
We also help extend the life of millions of products a year through our repair service while bringing a second life to products through our trade-in program. In addition, Best Buy operates the most comprehensive e-waste recycling service in the United States, collecting more than 1 billion pounds for recycling.
Our focus on education entails helping ensure America’s workforce is prepared for the jobs of the future. Through our nationwide Geek Squad Academy technology camps and our 11 Teen Tech Centers we are inspiring underserved youth to pursue further education and consider careers in technology. Best Buy has served more than 4.5 million youth through our community programs, grants and partnerships with nonprofits.
Our business extends beyond the products and services we offer. It is the pursuit of the common good that continues to drive us.