Best Buy Success Story

MBAs should know about authenticity and establishing employee and customer connection, as told through Hubert Joly’s success.

The Best Buy success story is a case study I taught MBAs in two classes: International Business, and Leadership Skills. Now, former CEO Hubert Joly has updated the story in his new book, “The Heart of Business” (great title!).
In this excerpt from the Harvard Business School newsletter, “Joly [in his book] says the guide is one any company can follow, and he distills the formula down to five key ingredients:
1. Connecting employees with what drives them, and this is usually focused around finding ways to make the world a better place;
2. Creating genuine human connection among employees and customers;
3. Giving autonomy to team members, as much as possible, rather than scripting what to do;
4. Instituting one-on-one coaching to give employees individual training and feedback; and
5. Creating a growth mindset to continue to improve.”

So much applies to how to connect and create lasting relationships with clients, too.