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Arthur Blank

In: Business and Management

Submitted By bcrothers0710
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Arthur Blank

Servant Leadership
Brandon Crothers
Management 310

Arthur Blank is the owner of the Atlanta Flacons. When I was growing up I use to watch the Falcons on television. My favorite player was Michael Vick because he was fast and a great quarterback. The reason I picked Arthur Blank was because Michael Vick got in trouble with dog fighting and that hurt the Falcons organization. Their reputation got hurt also but, Arthur Blank turned this franchise around and got its name back and brought the organization back to winning again. Arthur Blank is a servant leader because he listens and he put s the people before himself.
Arthur Blank was born on September 27, 1942 in New York, New York and he received an accounting degree from Babson College. He worked as an accountant before joining a small pharmaceutical company started by his father. The company got bought by Daylin; So Blank became an executive at Daylin drugstore unit. Blank then moved to the Handy Dan Improvement Centers, this is a division of Daylin, where he met Bernard Marcus. In 1978, both Blank and Marcus were fired by Daylin over disagreements about the small chain's future and they decided to go into the home-improvement business. They looked at four cities to determine where the perfect location for their new home-improvement business. They then settled on Atlanta as the place with the right market and real estate conditions to test their theory that consumers would flock to huge stores offering a broad selection of home improvement products, low prices, and hospitable service. In 1979 they opened three Home Depot stores but, they nearly lost $1 million. Their fortunes changed and the company went public in 1981. They set a goal that was to encourage creativity from everyone from sales people to managers, with stock options offered even to the lowest-level employees. By the end of 1998, Home Depot had grown to almost 800 stores, had 157,000 employees, and recorded more than $30 billion in sales. Home Depot became the do-it-yourself, by providing everything from screws to electrical wiring for American fixer-uppers. Arthur Blank served as chief executive from May 1997 until December 2001, when he turned over day-to-day management to an executive from General Electric. During Blank time at Home Depot their sales more than doubled and the company's stock price almost tripled. He purchased the Atlanta Falcons professional football franchise for $545 million. Blank and Marcus became philanthropic leaders in Atlanta and Blank was chairman of the local Chamber of Commerce. When Blank retired his stock holdings were estimated at $1.6 billion. Arthur Blank is a servant leader because he puts the people he serves first, he listens, and he gives back to his community. The first example is that at home depot the thought of the associates that worked at home depot was precious assets because they took care of the customers. So they should take care of their people. They took care of them buy paying them what they were worth and providing training and career growth opportunities. Also, by giving their associates a stake in the financial success of the business so they treated their associates not as an expense, but as an investment. The first thing Blank did when he purchased the Atlanta Falcons was he reached out to the fans by asking the fans what they wanted. The fans told them they want a team that’s always in the hunt for the playoffs, ownerships to do what it takes to support a winner, and a better game day experience. The better game day experience is affordable tickets, better parking, greater entertainment, and terrific service at the football stadium. So he put programs in place for every single item that was on his list to do better for that franchise. Since he did that the franchise football team saw 100% increase in ticket sales, which made an NFL record for highest increase in ticket sales for one year. During Arthur Blank’s tenured at home depot they made a very deliberate commitment to give back to the communities they served. This included financial contributions which to some it was up to $113 million. They also gave ten to thousands of hour’s volunteer time that was donated by their associates at Home Depot. To conclude, I mainly picked Arthur Blank because he started out as an accountant and he was also the owner of the Atlanta Falcons which was one of my favorite teams to watch growing up. But, I didn’t know that he made Home Depot the way it is today. Also, he helped his community and the communities surrounding Home Depot stores. Lastly, he took care of his employees which his employees then took care of the customers not only at Home Depot but, also with the Falcons organization.

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