Dynamic Duo: Edwin the Duck Creators Named 2016 Dynamic Leaders of the Year

If it looks like a duck, walks like a duck … it’s likely a duck – as the idiom conveys. However, if it syncs with mobile apps, teaches life lessons and takes the Internet of Things to a whole new level, it might be better described as a groundbreaking, transformational gadget the likes of which the children’s toy industry has never seen.

That was the hope when Don Inmon and Matt MacBeth, two innovators with minds for engineering and a collective desire to navigate the turbulent skies of the tech spectrum, developed pi lab and its flagship product – Edwin the Duck.

Edwin is a rubber duck that includes a Bluetooth speaker, a thermometer that gauges bath water, a night light that works in tandem with apps and much more, allowing children to follow along with interactive stories, play games and enjoy sing-alongs.

Tens of thousands of units have been sold (via online and brick and mortar stores like Amazon, Apple Store, Best Buy, Target and Toys ‘R Us) and are already in the hands of children around the globe.

Read the full story in BizVoice.

pi-lab

Should CEOs Send Mass Responses to Criticism?

The question in the headline makes me think of the recent Netflix flap, in which its CEO emailed the company’s customers basically apologizing for some unsuccessful moves. As Best Buy now battles online retail giants like Amazon and faces criticism about annoying upselling and not meeting order demands around Christmas, company CEO Brian Dunn offered the following response on his blog. Here’s the post in its entirety (below). From a PR perspective, was this the right move?

Best Buy has been taking some criticism lately. As CEO, I know that criticism goes with the job, and I’m well aware we have some challenges. I also know that errors we make often translate into a poor experience for our customers, and that is simply unacceptable.

Still, while I agree with some of the commentary on areas we need to improve, I feel it’s important to set the record straight on statements about our company that are, in my opinion, not completely grounded in fact. And I feel the need to do so, in part, to make sure our 180,000 hard-working employees understand the whole story – and have the full context that allows them to develop their own opinion about what’s written and said about Best Buy.

Let’s start with a couple of examples where I think the critics got it right.

The cancellation of some internet orders just before Christmas was our fault, and it’s not representative of how we EVER want to treat our customers. I’ll spare you the technical explanation of how and why it happened, but we know we did not deliver a good experience and we’re truly sorry. We’ve worked to make amends with customers whose holidays were made less happy because of our mistake, and we’re working diligently to make sure it doesn’t happen again.

Another area where we have received fair criticism is the overall speed of the transformation of our business model – something we are working hard to address. We’ve accelerated changes to key elements of our model already (the significant expansion in the number of products available on Bestbuy.com and the launch of our online Marketplace are two recent examples), but we need to move even faster, particularly in creating a more seamless experience between our stores, web sites, call centers and services teams. We recognize people can and do shop from anywhere, and they expect thoughtful, helpful interactions from us every step of the way. We continue to invest in a number of areas – from employee training, to critical system enhancements – to ensure our customers always receive the kind of experience they deserve and expect from us, wherever and whenever they choose. But, simply put, that work needs to happen faster – and we’re taking significant steps to accelerate the pace.

Now, onto a couple of topics where I disagree with the critics.

First, some believe the internet has made physical retailing (i.e., stores) irrelevant. There’s no doubt that the internet, and the mobile web in particular, have changed the way people shop, but there is strong evidence that consumers continue to value the experience of shopping in stores. A recent study by the NPD Group, a leading market research company, notes that nearly 80% of consumer electronics revenue still moves through physical stores. Additionally, approximately 40% of customer purchases made through Bestbuy.com are picked up in one of our stores. And the truth is, traffic in our physical stores increased in our third quarter and has been trending positively for most of the year.

Finally, there are those who question the validity of Best Buy’s business model. This misguided perspective is especially troubling for me, because it blatantly and recklessly ignores overwhelming evidence to the contrary. Best Buy is a financially strong and profitable company that has generated more than $2.6 billion in cash flows from operating activities in the first three quarters of the fiscal year. We also delivered positive operating income in each of the first three quarters of fiscal 2012. We grew total market share in the third quarter according to the most recent public data available. We have closed down certain operations that were not profitable, which we expect to have a positive impact on our earnings going forward. And we are focusing the company on areas where we see the greatest opportunities for growth and profit: mobile devices and connection plans; enhanced digital and e-commerce strategies; growth in our services business; and expansion of our established business in China.

As I mentioned earlier, we fully expect to receive our share of criticism – we’re a big company and we don’t always get everything right. But this is one of those times when I felt it was necessary not only to acknowledge our shortcomings, but to set the record straight on issues where facts are being obscured by rhetoric.

Brian J. Dunn
CEO
Best Buy Co., Inc.

Chamber Names Indiana’s ‘Best Buy’ Schools

Chamber officials are traveling the state today (and tomorrow) recognizing the schools that warranted our "Best Buy" label this year. See below for a description of the award and this year’s honorees (and view the full report here):

For 2009, 135 public high schools were designated as a "best buy" for giving taxpayers the most value for their money.  Two methods determined this honor. A school was named a best buy if it had a quality index above the state median and revenues below the statewide median of $10,179 per student. The second method was by having a quality index ranking that was 20% higher than the school’s revenue ranking.

In addition, from the best buy group, 26 high schools were given the "honor roll" distinction for excelling academically despite having at-risk student demographics above the statewide median. For their exemplary efforts, the top five schools from the best buy and honor roll lists were then selected as "head of the class" members.

The 2009 "head of the class" selections are:

– Adams Central High School in Monroe (Adams County);
– Forest Park Jr.-Sr. High School in Ferdinand (Dubois County);
– North Central High School in Indianapolis (Marion County);
– Northwestern High School in Kokomo (Howard County);
– Plainfield High School (Hendricks County);
– Plymouth High School (Marshall County);
– Signature School in Evansville (Vanderburgh County).
– South Adams Jr.-Sr. High School in Berne (Adams County);
– Triton Jr.-Sr. High School in Bourbon (Marshall County); and
– Warsaw Community High School (Kosciusko County).