More importantly, the television station would offer advice and demonstrations on how to install the items purchased on your own, without the assistance of home improvement specialists.
The desired consequence of all these opportunities, as well as other strategies, is to increase the market share and revenues. However, all options include a certain level of risk that could generate unfortunate results. That is why, prior to making a decision, management, marketing and financial departments need to analyze the opportunity from several view points.
3. Long-term objectives on profitability, competitive activities, technological and market leadership, as well as the social and environmental responsibilities of the company
Aside from the general long-term objective of increasing their market share and revenues, the managers at Home Depot desire to become among the strongest international and national competitors and to increase the dividends towards their shareholders.
Regarding the first objective, it is easily observed that Home Depot can reach their goal. In support of this statement comes the company's evolution during the past three years. As such, in 2003, the home improvement provider was not included in the Top 50 American Organizations for Multicultural Business Opportunities, but received an Honorable Mention. The following year, Home Depot came in 32nd out of 50, whereas in 2005, they got the 24th place, sketching their ascendant trajectory.
In order to face the competition of other home improvement companies, Home Depot began by improving their general image. In doing so, they became sponsors of numerous sporting events, such as the U.S. And Canadian Olympic teams, NASCAR or the U.S Major League Soccer team (Chivas USA). Another advantage in competing with international producers is given by the fluctuation of the currencies. For instance, "due to the fluctuation of U.S. And Canadian currencies, some American and/or Canadian citizens may purchase home improvement items in each other countries' Home Depot stores."
Home Depot works with highly trained and experienced technical engineers which are at all times up-to-date with the latest innovations. The producer acknowledges the importance of technology in the current society and uses it in all activity domains from employee...
International Presence Home Depot has major presence in Canada other United States and has successfully established its business in the country. Before Home Depot Canadian home improvement market was ruled by Rona chain of stores which also has a number of branches all over the country. After penetrating the market Home Depot challenged the position of Rona and now is in cut throat competition with it as Home Depot also has
Home Improvement Retail Operations Analysis A Comparison and Analysis of Company-Specific Strategies used by Lowes and The Home Depot The two biggest firms operating in the retail space that targets the home improvement niche are Lowes and the Home Depot. These two firms essentially dominate the industry with Home Depot accounting for nearly sixty percent of total revenues, and Lowe's capturing a bulk of the rest (about 39%), but there are number of
The following table lists the executive employee compensation for Home Depot in for 2008. Home Depot Executive Compensation Source: Home Depot (2008) DISCUSSION It is clear from the long-term goals set out by Home Depot that the desire to build ongoing relationships with its employees is one of the primary focuses of Home Depot in terms of its business strategic goals. Home Depot believes that goals should be set and attainable although not
Income Statments Home Depot, Lowe's and the British company Wolseley are three of the major companies in the building materials retailing industry. This paper will compare the revenues of these three companies over the past five years to gain a sense of how they have been performing. The prevailing economic conditions have been negative for the industry, since the industry is heavily dependent on the health of the housing market (Isidore,
HD LOW Home Depot, Lowe's and Wolseley are all companies in the hardware store business. Home Depot and Lowe's are primarily American while Wolseley has operations in a number of different companies but has its home market in the United Kingdom. All of these companies are highly susceptible to the economic conditions surrounding the housing market and the general health of the economy overall. This paper will focus on how these
Home Depot has recognized many key factors to ensure that talent is kept in their pipelines. One of these is the embedded understanding that human capital drives talent management. Human resources goals at home depot are directly tied into the overall strategic operating plans of the company with human capital at the heart of all human resource strategies. Home Depot was able to recognize that human capital was vital to
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