ECO 561 Week 6 Final Business Proposal
Home Depot Final Business Proposal
Nicole Garcia
ECO/561
December 22, 2014
Susan Mc Master
Home Depot Business Proposal
Bernie Marcus and Arthur Blank founded Home Depot Corp in 1978 (The Home Depot, 2013). The business created strategic product analysis providing an assortment of items to consumers. From the beginning, workers have been able to deliver superior customer satisfaction in the business, helping consumers with jobs such as handling power tools, changing out parts on appliances, laying tile, etc. The Home Depot employees all underwent arduous training to familiarize each employee with products. In addition, the business began hosting workshops to teach consumers on how to do things themselves.
Home Depot progressed into a globally known hardware retailer that has an inventory consisting of up to 40,000 various types of constructing and home improvement materials, supplies, outdoor, lawn and garden equipment, appliances, and more than 250,000 other items that can be acquired through special order online or in store (The Home Depot, 2013). Home Depot offers extensive dedication to developing every source in the creating an operational competitive advantage in addition to managing logistics surrounded by the supply chain. An impenetrable basis surrounded by the symbol of home improvement creates the opportunities impact and generates properties on obtaining policies, strategies and measures, which are recognized in Home Depot’s procurement technique.
Variables
Depending on the number of sellers in any one industry, the differentiation of products and the barriers to entry, a market structure could be an oligopoly, monopoly, perfect competition, or a monopolistic competition. The price elasticity of demand ranges from relatively low in a monopolistic market to very high in a perfectly competitive market. The higher the price elasticity of demand, the more a modification in cost will affect demand for product. The Home Depot asserts various
Nicole Garcia
ECO/561
December 22, 2014
Susan Mc Master
Home Depot Business Proposal
Bernie Marcus and Arthur Blank founded Home Depot Corp in 1978 (The Home Depot, 2013). The business created strategic product analysis providing an assortment of items to consumers. From the beginning, workers have been able to deliver superior customer satisfaction in the business, helping consumers with jobs such as handling power tools, changing out parts on appliances, laying tile, etc. The Home Depot employees all underwent arduous training to familiarize each employee with products. In addition, the business began hosting workshops to teach consumers on how to do things themselves.
Home Depot progressed into a globally known hardware retailer that has an inventory consisting of up to 40,000 various types of constructing and home improvement materials, supplies, outdoor, lawn and garden equipment, appliances, and more than 250,000 other items that can be acquired through special order online or in store (The Home Depot, 2013). Home Depot offers extensive dedication to developing every source in the creating an operational competitive advantage in addition to managing logistics surrounded by the supply chain. An impenetrable basis surrounded by the symbol of home improvement creates the opportunities impact and generates properties on obtaining policies, strategies and measures, which are recognized in Home Depot’s procurement technique.
Variables
Depending on the number of sellers in any one industry, the differentiation of products and the barriers to entry, a market structure could be an oligopoly, monopoly, perfect competition, or a monopolistic competition. The price elasticity of demand ranges from relatively low in a monopolistic market to very high in a perfectly competitive market. The higher the price elasticity of demand, the more a modification in cost will affect demand for product. The Home Depot asserts various
References: Kimberly Amadeo. (2014). What Is the Business Cycle? Retrieved from: http://useconomy.about.com/od/glossary/g/business_cycle.htm The Home Depot. (2013). Welcome to the Home Depot. Retrieved from: https://corporate.homedepot.com/Pages/default.aspx