...Home improvement has become a common staple in many people’s lives. Many people don’t go a day without thinking up projects that they need to do around the house. Home Depot’s main mission they strive to achieve is that they strive to achieve is social responsibility and brand strength, along with putting their customers before their product and profit. To show this, they have their mission statement as: Our goal is to provide the highest level of service, the broadest selection of products and the most competitive prices. When Bernie Marcus and Arthur Blank opened the first Home Depot store in Atlanta in 1979, they envisioned huge warehouse-style stores stocked with an extensive selection of products offered at the lowest prices. Home improvement do-it-yourselfers and building contractors can browse among 40,000 different products ranging from carpeting, lumber, paint, tools and landscaping options. If you can’t find what you need within those 40,000 products, Home Depot offers 250,000 products that can be special ordered. Some stores are open 24 hours a day, but customers can also order products online. Additionally, the company offers free home improvement clinics to teach customers how to tackle everyday projects like tiling a bathroom. If you prefer not to “do it yourself”, most stores offer installation services. Currently, Home Depot employs more than 300,000 people and operates over 2,250 Home Depot stores in the United States, along with 6 other countries. The company...
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...Running head: STRATEGIC DIRECTION—HOME DEPOT Strategic Direction—Home Depot Keller Graduate School of Management J. Lambrou, Professor Strategic Direction Introduction What is Strategic Direction? This means taking your company in a direction related to what’s happening in the dynamic environment of what the business provides (be it in a services, manufacturing, technological, or financial area). (Olsen, 2007) Therefore, the strategy and direction the company take are defined by what established and unique value propositions the company has when compared to competitors; operations executed to provide different and tailored value to customers; clearly identifies any tradeoffs and clarifies what not to do; focuses on activities that fit together and reinforce each other; and is continually driven for improvement within the organization and while moving it toward its defined vision. I use The Home Depot (Home Depot here-out) for this paper as I have a part-time job with them. Strategy Home Depot’s simple and straightforward strategy is to ensure it diversifies its operations by having several businesses competing in the different product markets of home improvement. (Home Depot, 2008) The Home Depot has positioned itself within the industry based on a strategy of cost leadership. This operating strategy allows the company to earn above-average profitability by dictating prices from suppliers lowering input costs and minimizing distribution transactions eliminating...
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...Strategic Plan; Home Depot Strategic planning is an organizational management activity that is used to set priorities, focus energy and resources, strengthen operations, and ensure that employees and other participants are working toward common goals. It is a disciplined effort that produces essential decisions and actions that shapes and guides what an organization is, who it serves, what it does, and why it does it. Strategic planning focuses on the future of the company. Strategic planning is building a plan that provides guidance in fulfilling a mission with maximum efficiency and impact for a company. Basically it is the Who, What, When, Where, How and How Much aspect to planning. “A company collectively tries to agree on where it is going (its vision) and how it’s going to get there (its strategy)” (Abraham, 2012). Strategic planning is a very important part of having a successful organization. Without it, the employees will not know what to do or why they are doing it and over time the company will not succeed. In order for the plan to be effective and useful, it should articulate specific goals and describe the action steps and resources needed to accomplish them. In other words, Strategic Planning is a regimented effort to analyze certain things like: the objectives of the organization, why it’s doing that and what is it going to do in the changing environment or future. I have selected Home Depot to analyze and prepare a strategic plan to grow the organization...
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...Home Depot Business Proposal Easter B. Fulton ECO 561 June 22, 2015 J. Carl Bowman Home Depot Service The Home Depot was founded in 1978 in Atlanta, Georgia as the first home retail store by Bernie Marcus and Arthur Blank (Home Depot, 2014). To give an extent of mixes to customers the Home Depot affiliation made key item examination. This helped clients who request to complete structure extends on different business ranges the affiliation's innovative stock revolved around internal and outside customers of the relationship for master foremen, free how to focus, do it without any other individual's help assignments, free how to office and childrens' workshops. Home Depot progressed overall and saw as a claim to fame retailer that business segments 40,000 different sorts of building materials, home change supplies, apparatuses and yard and patio nursery supplies, and additionally stock nook things' and stock restricted to match the customer's specific market needs (Home Depot, 2014). The Home Depot has more than 2,200 supportive regions all through the United States (numbering the spaces of Puerto Rico and the Virgin Islands), Canada, China and Mexico. Stores typical 105,000 square feet with give or take 23,000 additional square feet of outside greenery walled in area zone (Home Depot, 2014). One clarification to survey and satisfy the business' possibilities is to look at the strategies and system for a supplementary client administration. Home Depot offers developing...
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...Primary Competitor Analysis Competitor Name: The Home Depot, Inc Headquarters: Atlanta (Cobb County), Georgia Locations: 2,200 Retail Stores in U.S., Canada, and Mexico Annual Revenue: 2013-$74,754,000,000 2014-$78,812,000,000 2015-$83,176,000,000 Slogan/Motto: “More saving. More doing.” Primary Products: -Building Materials (40,000 different kinds) -Tools/Hardware -Appliances (kitchen/bath/décor) -Lawn and Garden Products -Electrical, Plumbing, Flooring, & Heating/Cooling Supplies Primary Services: -Home Depot Home Services (national installation service with pre-screened independent contractors) -Free How-To Clinics -Kids Workshops Primary Target Market: The Home Depot’s primary target markets are the do-it-yourself customer, the do-it-for-me customer, and professionals. This mainly includes Generation Y white, Hispanic, and black males, across the United States with pretty much any education level. Distribution Strategy: Network of distribution centers for store replenishment and ...
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...“How Home Depot could enter Indian Markets” Cohort 41 Justin Widener, Cole Lewis, Daniel Smith, Kacy Jackson, Pramod Sudhakar, Angela Lintz WMBA 6030: Global Strategy November 14, 2013 Executive Summary Home Depot tried and failed to enter China. In hindsight, the errors Home Depot made seem obvious and many. In the analyses below, we examine Home Depot from an Industrial, Resource, and Institutional perspective. Based on our extrapolation of the findings, we ask whether Home Depot can enter the Indian market, and describe our strategy for how Home Depot might successfully expand globally into India. We believe that Home Depot can gain great value from entering India following our strategy. Introduction and Background Home Depot was founded in 1978 by Arthur Blank and Bernie Marcus. They originally started with two stores in the Atlanta area with about 60,000 square feet each. These stores dwarfed the competition in not only size but also in product offering and availability. They started off offering over 25,000 different SKU’s to customers in everything from power tools to simple easy to use items such as tape and glue (Home Depot). The goal was, as a company, to target and create a market for the “Do it Yourself” or “DIY” market. Until the arrival of Home Depot there was such a market but only local mom and pop shops competed. Home Depot provided a place where they could provide a one-stop shop for DIY and could also provide the “know-how” necessary...
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...Home Depot Data Breach Background on the 2014 Home Depot Data Breach Home depot was the target of a cyberattack on their information system infrastructure that lasted from April of 2014 to September of 2014. As a result of the attack and following data breach, 56 million credit-card accounts and 53 million email addresses were stolen. (“Home Depot Hackers Exposed 53 Million Email Addresses”) The cyberattack involved several steps. First, the attackers gained third party credentials allowing them into the system. Next they exploited an unknown weakness in the system that allowed for the attackers to elevate their own access privileges. Finally, they installed malware on Home Depot’s self-checkout systems in the U.S. and Canada, allowing for the data to be stolen. Because this was a multistage attack, there were several stages of failures. While this shows that there were multiple lines of defense, the fact that there were multiple failures as well is a large issue. It demonstrations that even with multiple lines of defense Home Depot was still not adequately protected. The first failure was that the attackers acquired credentials from a third party vendor. This may not have been Home Depot’s fault directly, but there are still governance processes they could’ve employed to prevent it. Once the attackers were in the system they exploited yet another vulnerability that allowed themselves to elevate their access rights. The third vulnerability that was exploited was the lack of...
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...Home Depot: Research and Development Improvement Recommendations This paper is submitted in partial fulfillment for Business Marketing (EMBA) - March 24, 2013 Table of Contents Executive Summary 3 SWOT Analysis 7 Strategic Alternatives 7 Recommendations 11 Marketing Strategy 11 Marketing Implementation and Control 13 References 14 Executive Summary Where do you go to buy your home improvement supplies? Have you experienced an exceptional home improvement store that meets all your needs and provides exceptional service? If the answer is no, there are several reasons to shop at your nearest Home Depot home improvement store. You can count on the variety of products to choose from while viewing the floor showcase. If you are worried about transportation, we offer truck rentals and service installations so you can sit, enjoy and relax while we do all the work. However, we are going to change the customer experience, our goals and efforts are to change your experience the minute you step into your friendly Home Depot store. You will no longer have to wait for a cashier to answer your question because an expert associate will be available immediately to help guide you and meet your needs during your shopping experience. To help fulfill the new customer service experience, we will enhance our current Mobile App that will provide navigation around the store along with a product information scanner. We hope to improve your families shopping experience by incorporating...
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...Lowe’s Home Improvement Executive Summary Lowe’s Home Improvement Executive Summary B&B Consulting Nicholas Baziuk Shannon Browne 3/3/2016 B&B Consulting Nicholas Baziuk Shannon Browne 3/3/2016 To: Board of Directors of Lowe’s Home Improvement From: B&B Consulting Subject: Executive Summary B&B Consulting Services was requested to evaluate, assess, analyze and make recommendations to Lowe’s Home Improvement in the areas of strategy for growth improvement. The following information will give Lowe’s a better understanding of its company and what improvements can be made in the short-term and long-term. Current Strategy Lowe’s current strategy is to differentiate itself through better customer service. Lowe’s other focus is on the changing home improvement landscapes. In recent years home owners have changed how landscaping looks and operates. Lastly, Lowe’s is looking to deliver long-term profitable growth and substantial return to its shareholders. Competitive Analysis Lowe’s will continue to develop deeper, more meaningful relationships with its customers by having strong brand value and giving support to its customers. Its main focus is “do it yourself” home owners and having larger more spacious stores compared to its competitors. Lowe’s and Home Depot have both aggressively expanded in the United States, especially in the metropolitan market. SWOT Analysis -Lowe’s Home Improvement Strengths * Brand Recognition * Distribution Network *...
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...Global Fortune 500 Company Home Depot | Economics for SocietyAyesha MuhammadSeptember 1, 2014 | Global Fortune 500 Company Home Depot | Economics for SocietyAyesha MuhammadSeptember 1, 2014 | Global Fortune 500 Company Home Depot Home Depot is one of the largest home improvement retailer in the world. With stores in the United States, Canada, Mexico and China. Home Depot was founded in 1978 by Arthur Blank and Bernie Marcus, along with investment banker Ken Langone and merchandising guru Pat Farrah. Their vision was to open a store as a one-stop shopping for the do-it-yourself individual. Home Depot opened their first store on June 22, 1979, in Atlanta, Georgia. In 1981 Home Depot went public on NASDAQ and moved the New York Stock Exchange in 1984. Between 1980’s thru 1990’s the company saw tremendous growth, in 1989 the company celebrate their 100th store opening. The company wish to expand their store globally, so they open the first home improvement centers in 1994 in Canada with the acquisition of Aikenhead’s home improvement centers, in 2001 under the acquisition of Total HOME that expand the vision in Mexico, and 2006 the company extended its reach to China by acquiring the The Home Way, a 12 store chain. Their global expansion demonstrates how The Home Depot combines its vast knowledge of the home improvement industry with the needs, shopping trends and customs of each unique geography to best serve customers. They are committed to being a global...
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...Project HR587, May 2010 Session Table of Contents Executive Summary…………………………………………………………………….…………………… 2 Assessment/Diagnosis………………………………………….……………..………………….. 3 Analysis of the Change Strategy…………………………………………………………………………….…..………… 4 Results/Outcomes………………………………………….……………………,………………. 7 Evaluation of the Effort…………………………………………………………………………………….……….. 9 References………………………………………………………………………...…………….. 13 Appendix A……………………………...…………………………………………………………………. 14 Appendix B……………………………….……………………………………………….……………….. 15 Executive Summary Home Depot was founded in 1978 by Bernie Marcus and Arthur Blank. From the start, associates were able to offer the best customer service in the industry, guiding customers through projects such as laying tile, changing a fill valve or handling a power tool. Not only did store associates undergo rigorous product knowledge training, but they also began offering lessons so customers could learn how to do it themselves. Home Depot is still guided today by those values established by its founders, excellent customer service, taking care of people, entrepreneurial spirit, respect for all people, building strong relationships, doing the right thing, giving back to communities, and creating shareholder value. (Corporate Website, 2003). I will be concentrating on the Human Resource department of the organization. They restructured their HR department by cutting down their HR functions believing that it they could create jobs in other sections of the company...
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...Forging Your Path with The Home Depot Shannon Burten CGD 218 Visiual Literacy in Business David Hannum June 13, 2016 Forging Your Path with The Home Depot What is career advancement? In the article, Career advancement: What it is and how to achieve it, Louie (2013) defines it as, “…one of the most important elements for employee satisfaction and retention at a company” (para. 1). Home Depot’s main goal is employee satisfaction which correlates directly to Louie’s definition of career advancement. Career advancement is a huge opportunity at the Home Depot that many people tend to pass off after becoming complacent in different field positions. There are eight career areas within Home Depot and each area is interchangeable. The areas include: retail, merchandising, supply chain, services, contact centers, civilian, corporate, and technology. If an employee begans a career with the Home Depot in any of these areas and decides to advance, they can move vertically within that area or horizontally to a different career area. Victor Lipman (2013), contributor of Forbes Magazine, explains that, “clear opportunities for career advancement are an "especially powerful" employee motivator” (p. 1). Lipman (2013) also notes, "At times when career paths were clear, individuals tended to be more motivated, with tangible goals to work towards. At times when career paths were dim or nonexistent, individuals tended...
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...Memo To: Entrepreneur D From: Student cc: Date: Re: The financial statement evaluation is complete as agreed. Outlined in this memo is an outline of the corporate stability of Company G. Listed are 13 ratios used to determine financial strengths and weaknesses. Each ratio is individually explained so there is a clear knowledge of what the gathered numerical information implies. Lastly, the company is compared with other companies in the home improvement industry to determine if it meets market standards. Current Ratio – 1.75 The company’s has a current ratio of 1.75 placing it in 58th percentile which is an indication of weakness. The Company G’s current ratio compared to last year is on a downward trend. That means that for each dollar spent, only 75 cents can be saved. This ratio is used to establish the company’s capacity to cover short-term financial obligations. It is calculated by dividing current liabilities by current assets. A company ratio of less than one is an indicator that signals the likelihood of Company G’s inability to cover short-term debts if they became due and payable. The company with the lowest ranking was Home Depot and Company G is vaguely beating their numbers. This is a weakness for the Company G. The company’s current ratio drops beneath the first quartile of 3.1 and also under the second quartile of 2.1. Acid-test Ratio – 0.42 This is a stringent indicator calculated similarly to the current ratio determining...
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..."The Home Depot NYSE: HD, headquartered in Vinings, Georgia, is a home improvement retailer that aims for both the do-it-yourself consumer and the professional in home improvement and construction. It is the second largest retailer in the United States, behind Wal-Mart; and the third largest retailer in the world, behind Wal-Mart and French company Carrefour. The Home Depot operates about 1,900 stores across North America. The company operates stores in the United States (including the 50 states, Puerto Rico, the United States Virgin Islands), Canada, and Mexico. The Home Depot also operates EXPO Design Center stores in select U.S. markets, providing high-end home design products and services. Its 2004 sales totaled US $73.1 billion. It was ranked #13 on FORTUNE magazine's FORTUNE 500 The Home Depot also owns a chain of higher-end home decorating and appliance stores. The Home Depot employs over 325,000 people." The company was founded in 1978 in Atlanta, Georgia by Bernie Marcus and Arthur Blank, and grew rapidly, with sales topping $1 billion annually by 1986. From the moment of its foundation, HD has continued to grow constantly by targeting strong markets with many new homeowners and young people such as New Orleans. Home Depot managed to grow fast by quickly adapting to change and continued to be successful by holding fast to the culture and values of the organization. The constant renewal and the work to sustain culture that produces good products, employees, and customers...
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...leadership at Home Depot intended to use its organizational talent to gain a competitive advantage in the Do It Yourself industry. At just 32 years old, Home Depot has created quite a name for its self. Everyone is aware that they can go into any chain of this international store and find practically anything they need to master their home improvement project. Behind the brand created by Home Depot are the smiling faces of every associate that assists the customers with the dueling task of locating the perfect product. The leadership at Home Depot is the driving force behind the organization’s talent and their efforts of being top notch rated in the Do-It-Yourself industry. Home Depot hires thousands of associates yearly to accommodate the growing demands of their retail company (Dowell & Silzer 2010). The leadership within the company uses its organizational talent to get ahead in this competitive industry by training the associates to be the best customer service team. Home Depot is known for promoting internally. With their knowledge and understanding of supply and demand, the leaders can monitor and promote the superb customer service brand. The leaders (shift managers, front-line supervisors, and store managers) are aware of the brand that is associated with Home Depot. Since the company has now expanded from America to Canada and even Japan, their servicing technique must be accurate to continue to promote growth. Discuss the key channels that Home Depot developed...
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