"You've got questions. We've got answers" The name "Radio Shack" is a nautical term that dates back to the invention of the radio at the turn of the last century. At the time, wireless radio equipment aboard ships where generally housed above the bridge in a wooden structure called the "radio shack." The founders of Radio Shack thought the name appropriate for a new retail business that supplied electronic equipment to "ham" radio operators and ships' radio officers. Radio Shack became known as the place to go for the latest technology - and it still is today.
Radio Shack is guided by its vision to be the most admired growth company in America. Whether offering the most innovative electronic products, explaining technology in understandable language, providing reliable repair service or simplifying the shopping experience, Radio Shack prides its self in having the answers.
Radio Shack has four objectives to support and achieve its vision and mission: First is for their customers: Radio Shack wants to be the top specialty retail brand in America. Second is for their shareholders: Radio Shack wants to lead the specialty retail category in shareholder return. Third is for their employees: Radio Shack wants to be the best company for high-performing people who demonstrate our corporate values; and Fourth is to the community: Radio Shack wants to be recognized nationally as an outstanding corporate citizen.
Radio Shack also has three distinct business strategies within their organization: Connecting People with wireless devices and accessories, radio communications devices, and phones. Connecting Places with computers, high-speed Internet, and audio/video. And Connecting Things with parts, batteries, accessories, personal electronics, and toys.
Radio Shack has three key strengths that make it one of the most pervasive retail forces in America. It has a distribution network of more than 7,200 stores and dealers, which gives Radio Shack a presence in nearly every neighborhood in America. Its people are a highly trained sales force that is dedicated to demystifying technology in every neighborhood in America. And its products & services are unique and their selection includes many products that cannot be found at other retailers. Radio Shack also offers convenient shopping with stores located close to home and work. Trained and certified sales associates who are there to address customer needs and concerns. High-quality products that often exceed the industry standards. Credibility with the consumer because of their friendly service and long and stable history. A strong advertising campaign, which allow them to inform consumers about the complete solutions that they offer; and a selection of products to meet the most demanding needs of a consumer.
However, Radio Shack is not without its share of faults or shortcomings, there are always things a business can do to improve and get better that's why TQM is and should be a large part of every business. If I had the ability to change a few things to help improve the business, I think I would start with the hiring process. The idea today is to hurry and fill positions with bodies first and then improve on the quality of those people later. The problem is poor quality sales personal, wasted time and loss of money by both the business and training manager. What I would propose would be a weeklong training course for those individuals found to be of good sales quality. This would serve two pursues; one would be to determine if the new hire will work out for the business and two would provide the store with someone who now has a little better idea of the workings of the business. Another change would be the monthly manager and employee meetings. Once a month managers and employees attend meeting designed to inform personal of monthly specials and upcoming events. This is a good idea, however, the employee meetings are all to often sidetracked and turn more into a bull session as opposed to something beneficial and when the employee is asked what was learned at the meeting, all to many times the answer is " I don't remember." All in all I feel Radio Shack in a great place to work with many avenues of advancement for those who apply themselves and work hard. Radio Shack is always looking at way to improve themselves to make them more appealing to the consumer, supplier and the employees themselves.
In essence, Radio Shacks strategy goes beyond being the best of the best in retail. It is all about being the ONLY retailer that can do what they do.