Business Week Article Example | Topics and Well Written Essays - 500 words

Business Week - Article Example These kinds of sessions are particularly important when a company is poised to seek an edge over its counterparts in a rather expanding business. Such sessions supplement the essential steps of decision making, particularly in gathering data and coming up with ideas that can possibly be implemented. Extreme brainstorming sessions entail nearly all the essential steps of decision-making, with particular influence on information gathering and analysis steps. In terms of electronic business, where prices keep plummeting down with unrelenting advancements in technology with each passing day, businesses can only tackle their rivals by fulfilling the needs of customers at lower prices. Business related to electronics is highly versatile, hence it requires creative ideas and in-depth understanding of customers to meet their needs and beat the competition. Best Buy has serious competitors like Newegg and Circuit City; and therefore, such sessions are highly critical to a company’s dec ision making process if it is to mark its name against its competitors. Such sessions would give rise to further creative ideas coming up from employees because people belonging to the same sector and similar expertise would constantly turn up with diversified views of situations, hence these kinds of sessions involve enormous collaboration between employees of similar discipline. In addition to this, having a strong bond with people and sharing of ideas would culminate in supplementary creative thoughts springing up for the business. Irrefutably, businesses such as that of electronics are always at an imminent threat by the competitive world. A slight advancement would leave behind all the old technology; therefore, it requires an acute sense and better understanding of technological changes to survive in electronics retailing business. For this reason, sessions such as these would