Description Of The Home Depot Essay

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Description of Firm and Business Model The Home Depot, which was founded in 1978, has established itself as the largest home improvement retailer in the world, earning them the 28th rank on the Fortune 500 list. They boast an impressive 2,200 stores, 385,000 associates and reported annual revenue of $88.5 billion in 2015. Mission Statement Vision & Long Term Objectives These impressive statistics suggest a meaningful and powerful vision and mission. The Home Depot vision originated with Bernie Marcus and Arthur Blank when they first established their two stores in Atlanta Georgia on June 22, 1979. The original vision was to provide one-stop shopping for the do-it-yourselfer. Today the mission and vision of The Home Depot is expressed through three unique leadership tools, The Values Wheel, The Inverted Pyramid, and the Three-Legged Stool. Values The visual representations of their mission and vision are utilized to instill core values and principles for their associates, define the scope and purpose of the organization, and reiterate and support their competitive position as the world’s leading home improvement retailer. The Home Depot accredits its success to their values. They believe that treating people well, encouraging risks, recognizing and awarding performance, and developing and leading people are the factors. In order to remain successful they maintain an environment of mutual respect, and have a zero tolerance policy for discrimination and harassment.

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