Formatting Problems Home Depot STRENGTHS - Strong market position - Higher returns than competitors - Balanced brand mix - WEAKNESSES Sub optimal capital structure - Product recall OPPORTUNITIES - International presence - Growing popularity of power tools - Increasing online sales THREATS - Intense competition - Slowdown in US housing market - Rising labor wages in the US |The Home Depot Inc. (HD)
Business Analysis: Home Depot Introduction When two upper level managers decided to relinquish their jobs with the small hardware store they were working at, “Handy Dandy” they had a vision and set out to develop a company that catered to the “do-it-yourselfer,” and with that idea, The Home Depot was born. As the company exploded from one store into hundreds, it soon became the largest supplier of building supplies and home improvement materials in the United States. However, this was a short-lived
Home Depot was founded in 1978 by Bernie Marcus and Arthur Blank in Atlanta, Georgia. With their store, Marcus and Blank revolutionized the do-it-yourself home improvement market in the United States. Home Depot began as a very basic store, operated in a large, no-frills warehouse. Home Depot carries over 35,000 products, with national brand names along with the Home Depot brand. At the start, Home Depot was able to offer exceptional customer service with knowledgeable employees who could guide
The story behind the largest home center retailer all began in early 1978. Home Depot was formed in 1978 by Arthur Blank and Bernie Marcus along with an investor banker known as Ken Langone and merchandising expert Pat Farrah. They envisioned a chain of home-improvement warehouses, larger than any of their competitors' facilities, filled with a vast array of products and staffed by customer-service experts. Home Depot virtually revolutionized the do-it-yourself home improvement industry in the United
Founded in 1978 by Bernie Marcus and Aurthur Blank, The Home Depot Inc. has grown to become the world’s largest home improvement specialty retailer . Two key factors that contributed to its rapid initial growth was its sales strategy of low prices and a “stack it high and watch it fly” philosophy as well as a strong and pervasive organizational culture. Home Depot’s organizational culture, which is a set of shared beliefs, values and assumptions that exist in the organization helped build a solid
2015 The individual will be researching these two companies, Home Depot and Lowes. However, this individual has chosen to do these two companies for research purposes with evaluating on comparison. Background In providing a brief summary of the background history information on these companies, Home Depot founded in 1978 by Arthur Blank and Bernie Marcus. On June 22, 1979, in Atlanta, Georgia were the first two Home Depot stores opened as a vision of the one-stop shopping for do-it-yourself
When it comes to home improvement projects, the one-stop shop, Home Depot should come to mind. As one of the world’s largest home improvement specialty retailers, Home Depot operates over 2,256 stores throughout the U.S., Canada and Mexico. The home improvement store offers a variety of products, ranging from lumber to appliances, to name a few. Geared towards the DIY marketing demographic, Home Depot was founded by Bernie Marcus and Arthur Blank in 1978. The first formal stores opened June 1979
Background (Home Depot) The name of our company is Home Depot. Home Depot Success Story. (2018) says that Home Depot was founded in 1978. Home Depot was founded and has its headquarters located in Georgia of the United States of America. Home Depot Success Story. (2018) says that the founder of Home Depot is Bernard Marcus, and the CEO is Craig Menear. About Us (2016). states that there are over 2,200 Home Depot's located in America, Mexico, and Canada. There are also over 400,000 employees. In Home Depot
Home Depot is a home improvement store which first opened its doors in 1978 in Atlanta, Georgia. Home Depot has a corporate strategy to operate like an inverted triangle: by putting their customers and associates first, then the CEO, they believe success will follow (Home Depot, 2016). This theory seems to be working for the company, as there are over 2,200 stores between the United States, Canada, and Mexico. They are now the world’s largest home improvement retailer and brought in over 88.5 billion
Mission Statement "The Home Depot is in the home improvement business and our goal is to provide the highest level of service, the broadest selection of products and the most competitive prices” (Home Depot, 2017). Home Depot is a values-driven company and their culture and success are built upon eight core values, which include the following: Excellent customer service Taking care of our people Giving back Doing the "right" thing Creating shareholder value Respect for all people Entrepreneurial
Better Home and Gardens and The Home Depot In the current issue of Better Home and Gardens (BHG) magazine, published on October, 2004, there is an advertisement presenting how BHG and The Home Depot work together to provide new ideas and products. This is a win-win situation for both companies. Once know as “Fruit, Garden and Home”, the “Better Homes and Garden’s magazine (BGH) was first published in 1922. This magazine has become a trusted friend for over 82 years for America’s neighborhood. Better
Focus on the Leader Power and Influence The Home Depot learned the hard way that you must hire a leader that will stay true to the core values. The leader’s ethics and values will play a huge role in determining if the company will succeed or fail. The founders of The Home Depot built a culture on the foundation of respect, integrity, and compassion. The culture and customer service under the influence of the admired founders prospered. The founders hired a CEO to continue guiding the company
When it comes to home improvement two big names pop into every Americans mind, which are Home Depot and Lowes. Home depot being the younger company, founded about 38 years ago in Marietta, Georgia whereas Lowes started off about 70 years ago in North Wilkesboro, North Carolina. Both companies sell products not only for contractors but also focus heavily on the retail and consumer market. Lowes and Home Depot each have different cultures, strategies, values, attitudes and structures all of which influence
The third Case Study “Home Depot’s Blueprint for Culture Change” studied Mr. Robert Nardelli’s role as the CEO of Home Depot. He approached management in an autocratic style, which was criticized by many. This paper will take a look at how Mr. Nardelli’s style follows Kotter and Cohen’s model of change. It seems that Mr. Nardelli and his team followed some of the steps of the Kotter and Cohen’s model, but not all. There are additional steps that his team could have taken to improve morale and develop
the countries of Canada, Mexico and Australia (Lowe's Internal, 2010) Home Depot, founded in 1978, is the fastest growing retailer in the United States. Ranked twenty-ninth as a Fortune 500 company, Home Depot continues to remain the number one do-it-yourself retail store in America. These two companies may sell products of the same nature, but comparing their Code of Ethics is their way of setting themselves apart. (Home Depot Internal, 2009) Lowe’s begins their manual with an Introduction that
The Home Depot Case Analysis "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
Home Depot vs. Lowes The Home Depot Company Introduction Home Depot company offer a wide range of merchandise and services, and serve three primary customer groups: do-it-yourself customers, do-it-for-me customers and professional customers. A classic Home Depot store stocks approximately 40,000 to 50,000 product items, including variations in color and size. Major product groups include building materials, lumber plumbing, electrical and kitchen; hardware and seasonal, and paint, flooring
the effects of the recent economic downturn recede, industries are making their way back into the retail market including home improvement stores (Moneytips, 2015). It would appear that the trend is to renovate an existing dwelling rather than tempt fate on the housing market (Moneytips, 2015). This is positive news for those renovation retail organizations such as Home Depot as this organization has seen a four percent rise in annual growth the past five years (IBISWorld, 2015). However, organizational
One of Home Depot’s largest marketing problems through the course of their industry life-cycle is their differentiation strategy from their competitors. In a mature life-cycle, it’s hard for companies to be innovative. The issues though are that Home Depot has been following Lowe’s lead in change and innovation, but what Home Depot claims as their differentiation strategy isn’t really that different from their largest competitor, Home Depot’s CEO from 2000-2007, the slumping of the housing market
and strong government practices make China's market place a very difficult for foreign firms to enter and do business successfully. One example of a US firm attempting to pry into the Chinese business world is Home Depot, but this firm wasn't able to sustain business in the country. Home Depot failed in its attempt to enter China and it's important to take a deeper look into why this happened. Foreign firms that enter China must first develop a business strategy that is catered to the specific target