Lowe S Home Improvement Strategic And O
Lowe's Home Improvement Strategic and Operational Plan
MGT/521
date
Teacher
Lowe's Home Improvement Strategic and Operational Plan
This paper highlights the creation of Lowe’s Home Improvement strategic plans utilizing the SWOT analysis that are in alignment with the Lowe’s mission and vision statements. The strategic plan which is define as “plans cover a large span of time that is several years or decades” (Gabrielle Brown, 2014), that covers plans that are in general manner that pertains to nonspecific and less-detailed format. On the other hand, an operational plan usually covers one year and provides very fine details on how the tasks are done daily (Gabrielle Brown, 2014).
Lowe’s Home Improvement Strategic Plan Overview
Strengths, Weaknesses, Threats & Opportunities (SWOT)
This strategic plan addresses the following key strengths, weaknesses, threats and opportunities for Lowe’s Home Improvement:
Strengths
Weaknesses
Established presence and efficient merchandising Reliance on third party manufacturers could undermine Lowe's reputation
Strong logistics and distribution system
Global Limitation
Focus on offering seamless multi-channel experience Opportunities
Threats
Growing e-commerce and m-commerce sales
Intense competition to strain margins
Home improvement provides an opportunity to increase sales
Housing Market
Rising immigrant population
Company’s mission
"Our mission is to provide impactful support to local communities. We've stepped up our efforts to help families and communities manage through challenging economic times" (Our Mission).
Company’s vision
"We will provide customer-valued solutions with the best prices, products and services to
make Lowe's the first choice for home improvement" (Our Vision and Value).
Corporate Values
According to Farfan, B (2014) Lowe’s values are the following: “customer focused, teamwork, ownership, passion for execution, respect and integrity” (Farfan, 2014).
Business Objective
Longer term business
MGT/521
date
Teacher
Lowe's Home Improvement Strategic and Operational Plan
This paper highlights the creation of Lowe’s Home Improvement strategic plans utilizing the SWOT analysis that are in alignment with the Lowe’s mission and vision statements. The strategic plan which is define as “plans cover a large span of time that is several years or decades” (Gabrielle Brown, 2014), that covers plans that are in general manner that pertains to nonspecific and less-detailed format. On the other hand, an operational plan usually covers one year and provides very fine details on how the tasks are done daily (Gabrielle Brown, 2014).
Lowe’s Home Improvement Strategic Plan Overview
Strengths, Weaknesses, Threats & Opportunities (SWOT)
This strategic plan addresses the following key strengths, weaknesses, threats and opportunities for Lowe’s Home Improvement:
Strengths
Weaknesses
Established presence and efficient merchandising Reliance on third party manufacturers could undermine Lowe's reputation
Strong logistics and distribution system
Global Limitation
Focus on offering seamless multi-channel experience Opportunities
Threats
Growing e-commerce and m-commerce sales
Intense competition to strain margins
Home improvement provides an opportunity to increase sales
Housing Market
Rising immigrant population
Company’s mission
"Our mission is to provide impactful support to local communities. We've stepped up our efforts to help families and communities manage through challenging economic times" (Our Mission).
Company’s vision
"We will provide customer-valued solutions with the best prices, products and services to
make Lowe's the first choice for home improvement" (Our Vision and Value).
Corporate Values
According to Farfan, B (2014) Lowe’s values are the following: “customer focused, teamwork, ownership, passion for execution, respect and integrity” (Farfan, 2014).
Business Objective
Longer term business
References: Lowe 's Companies, Inc. SWOT Analysis. (2014, August 08). Retrieved from http://web.a.ebscohost.com.ezproxy.apollolibrary.com/bsi/pdfviewer/pdfviewer?sid=9a86c6df-6459-4ef8-a4dc-eca74aa87e57%40sessionmgr4002&vid=0&hid=4204 Our Mission Stephen Robbins, M. C. (2010). Management.