Home Depot has also been successful with functional
Home Depot has also been successful with functional
Home Depot’s strategic goal is to expand into new markets, further develop existing markets, and explore opportunities around the world. Over the past four decades Home Depot has grown a great deal and currently has a market share…
The Home Depot has been the under the leadership of Robert Nardelli since 2000. Since Nardelli has been CEO The Home Depot has delivered superior sales and earnings by improving its core retail stores, extending the business and has expanded into new markets. He is changing store formats, creating more direct to consumer sales, offering installation services, and expanding into the global marketplace. Nardelli's has made the main goal of Home Depot to "improve everything that we touch". His goal by 2010 is to create 400 to 500 new stores.…
mission, vision, and an overview of management and the current structure. The strategy of the…
Home Depot is ahead of its competitors such as Lowe’s, True Value Hardware, and Menards inc. financially.…
The mission statement for the company is “Our mission is to make Target your preferred destination in all channels by delivering outstanding value, continuous innovation and exceptional guest experiences by consistently fulfilling out Expect More. Pay less. Brand promise.” (Jurevicius, 2013). The mission statement reveals that Target is a very progressive company who has the desire to move forward at rate that keeps them in the front of their competition. Target has worked vigorously to stay up to date on the newest trends and latest technology to fulfill their brand promise. The vision that has been set forward for Target as a corporation is for the company to have better online operations and more environmentally friendly stores to aid in the fight to keep our planet health. Target reaches their customers on personal level with the way they cultivate inclusion in how they address issues, such as body image, natural products for skin care and cleaning products, environmental issues, and…
This paper gives the reader an insight into how a manager in a competitive industry in a two-firm constant sum game makes decisions. The writer will be playing the role of a Home Depot, Inc. manager, and the major competitor is Lowe’s, Inc. Home Depot is the largest United States (U.S.) home-improvement retailer while Lowe’s is the second-largest U.S. home-improvement retailer. This is significant because what one company does affects the other. To compare the two companies their company profiles were reviewed. The latest news headlines on both companies were also used in the formation of this paper. There is a reason that Home Depot is number one in this industry. Top managers, excellent products and a strong business plan to name a few, but Lowe’s is not that far behind them.…
The Lowes Corporation operates in what is known as the home improvement industry. The home improvement industry is about $300 billion in the US and another $48 billion in Canada. This industry was formed out of a consolidation of the industry of local hardware stores. Local hardware stores still exist and are a small competitor in the home improvement industry. However, the home improvement industry took on a form of its own in the late 1970’s when The Home Depot Corporation made a decision to compete with a large regional chain of hardware stores called Lowes. Lowes recognized the threat of competition and both Lowes and Home Depot stores begun to invest in rapid expansion and grew their stores to be large big box retailers where customers could come to buy a variety of products ranging from appliances to tools, to paint, lumber and nursery products to improve their home. There have since been a few large regional chains that have been able to penetrate this market including Menards and Rona. This industry is largely confined to North America, with the exception of the recent expansion of Home Depot into China. Between the big box retailers in this industry, there is little differentiation and the margins are generally pretty low.…
There are many different exclusive brands that Home Depot carries such as Ryobi, Workforce, Thomasville cabinetry, Ralph Lauren paint, Hampton Bay lighting and ceiling fans, and Glacier Bay faucets. These are just to name a few but these brands are very popular within the home rebuilding industry and are in stock throughout the thousands of Home Depots around the world. There are many services that Home Depot offers to its customers, employees as well as the community. First of all Home Depot has many knowledgeable employees willing to work with customers to show them how to do a certain project. Home Depot also has demo areas around the store in which customers can try out products they are planning on purchasing. For example if a customer is interested in a certain brand of floor buffers or polishers, Home Depot can help them with their decisions. If the customer has no experience operating a floor buffer, they can learn and operate one right there in the store instead of damaging a newly purchased one at home. Customers really appreciate this and feel that Home Depot truly cares about helping them. By allowing employees and customers to create these friendships and relationships, it keeps customers coming back, and makes employees feel appreciated. Home Depot is a great supporter of the community and is continually trying to help the community with various sponsorships. Recently, as of 1991 Home…
Analysis of Strategic Factors, Strategic Issues, Strategic Alternatives and Recommendations, Evaluation and Control and Summary)…
The company provides value and instills customer loyalty by passing the saving along to the customer. Home Depot stores are visited by 22 million people a day.…
If you stop and think about how much money is spent on repairs and changes to homes, it will make sense why I choose to look at the Home Depot to really understand my community. Walking around the store and talking to employees about their experiences I found out Home Depot is not a good representation of the surrounding area but its own little biotope. It seems to have to have a higher amount of special crowd that is attracted to the store, its own idioms and offer its own incentives.…
Home Depot, Inc. first opened its doors in June of 1979 in Atlanta, Georgia under the owners of Bernie Marcus and Arthur Blank. They had the vision of a one-stop shop for every need a do-it-yourself customer might have. The first few stores were around 60,000 square feet and they used empty boxes to give the illusion of more products on their shelves. Home Depot quickly became a popular home improvement warehouse throughout the country and revolutionized the do-it-yourself industry. Home Depot’s goal is to help consumers find the products perfect for their renovations or home projects by providing excellent customer service. Since the beginning their associates have provided superior customer service to their customers by offering free classes where customers can learn how to do it themselves. The store associates also underwent rigorous training in order to be knowledgeable about the products Home Depot stocks. Home Depot has a “whatever it takes” philosophy when it comes to customer service, meaning they want their associates to form a more personal relationship with their customers instead of just treating them like walking money signs. They also offer expert support services for contractors and tradespeople to guarantee that they have the right tools to complete the job in an effective and timely manner.…
For any organization, culture is its strongest asset. Culture can also be a liability when once adopted and widely used culture in an organization is changed. It will be difficult for employees to adapt to the new set of values. Home Depot had a decentralized, autonomous culture and business decisions were made by individual stores. Robert Nardelli after taking over as CEO of Home Depot in 2003 decided to change its culture by centralizing decisions which was met with stiff resistance. Despite getting good financial results he was forced to quit in…
Topic or core idea: Write an Executive Summary outlining the current financial position and competitive environment of The Home Depot, Inc. This should include its “return to retail” strategy and its approach for managing through the current economic cycle. You should use this information to summarize the key risks associated with lending to this business.…
The Home Depot is the largest home improvement retailer in the Unites states with 2252 stores across the globe and the fourth largest retailer. Home Depot is a Fortune 500 company currently ranked number 35.The home depot was founded in 1978 by Bernie Marcus, Arthur Blank and Pat Farrah.Today, Home Depot‘s stores stock up to 35000 different kinds of building materials and lawn and garden products. The chief executive officer (CEO) and chairman of Home Depot is Frank Blake .Headquarter of Home Depot is located in Atlanta, Georgia, as of by January 2011, the company employed 321,000 employees .Based on information reported in Home Depot’s Annual balance sheet and Annual Income statement for fiscal year ending 2012, my financial analysis will explain where the company currently stands in comparison to a major competitor, Lowe’s.…