Leadership Matters: Best Buy's Next Big Step

Last week I wrote about the concern I have about the leadership in General Motors(GMGMQ Quote) and the need for sweeping change in corporate culture.

In some industries, and with some organizations, it is the willingness of top leaders to question everything, to challenge the status quo, and to have the courage to attack the unwritten rules that will determine whether the company will be successful in the future or simply continue on a path of self-destruction.

At the same time, there are organizations that benefit from the consistency of a pre-determined and well-executed long-term cultural evolution. In a time of seeming chaos, such as the one our economy is in today, it is comforting to see those successful organizations with sound leadership, clear succession planning, and a truly continuous improvement culture that eliminates the need for enormous and transformational changes.

Such is the case with Best Buy(BBY Quote). Brian Dunn, who officially took over as the company's CEO at last week's shareholder meeting, has been with Best Buy since 1985, working his way up from store associate, to store manager and finally to chief operating officer in 2006. Dunn's succession to Brad Anderson was neither a secret nor a mystery, having been announced in January of this year.

The interesting thing about this clear succession plan is that shareholders can expect the continual change model of Best Buy that they've come to believe in through Anderson's reign. Anderson introduced a number of innovations, starting with his 1989 elimination of salesperson commissions in lieu of salaries.