Executive Summary In 1978, Home Depot was established by Arthur Blank and Bernie Marcus. From the beginning, they were capable to render the most excellent customer service in the industry, guiding customers in the course of projects for instance laying tile, shifting a fill valve or managing a power tool. Not merely did store associates endure meticulous training of product knowledge, other than they as well begin presenting trainings so that customers might be trained how to perform it themselves. Home Depot is yet today guided by individuals values instituted by its founders, taking care of people, doing the right thing, excellent customer service, respect for all people, entrepreneurial spirit, constructing strong relationships, give …show more content…
If the retailer can budge more headcount to the sales floor, which is at all times a fine thing. Home Depot has been budding better and superior from the time when they opened, it is virtually not far from success of Wal-Mart’s. It is hard to control such a growing company. They were surplus employees and the company had to reorganize by severing down on employees. The change influenced many employees and effected in foremost job cuts. Prior to the cuts they together had HR manager and supervisor at every store which in reality didn’t construct any sense in view of the fact that their services weren’t that a great deal required in every stores. The processes of change have turn out to be a foremost feature in history of several organizations’. The change of Home Depot wasn’t an obscured one, their major issue was to advance their customer service and by doing that they had to slash down a few jobs in several departments that they feel was more filled with employees and give them an option to apply to additional positions of customer service offered. It was significant for the change agent to recognize briefly what is supposed of him/her and results they anticipated at the conclusion of the restructuring. Assessment/Diagnosis The foremost concern with the HR department is that they were surplus employees than actually required. Home Depot in 2008, made a decision to lay off 3000 HR managers and provide a few of them the prospect to apply
Home Depot’s retail strategy is one of reasons for its fast growth and continued leadership in the home improvement retailer industry. Its focus on speed, efficiency, and quality has made it one of the largest retailers in the world. Home Depot focuses on being a leader in “product authority.” Walmart and Costco are leaders
The Home Depot’s two main customers are at home “do-it-yourselfers” and contractors. The main products and services offered help solve the wants and needs of customers involved with home construction and maintenance,
Home Depot is the fastest growing retailer in the U.S. by some accounts. It has a fascinating history of innovation and entrepreneurship. The company had some difficulties in the mid-2000s that some attribute to cultural clashes. However, during this period the company was able to take full advantage of the housing boom. Yet when the bubble burst, Home Depot was forced to claim substantial losses. Despite these loses Home Depot has weathered the storm fairly well and is in prime position to take advantage of an economic recovery; if it ever comes.
The Home Depot knows that they must stay on top of technology and management must be able to organize this function in a way that surpasses the competition, pleases the customers, and keep the employees satisfied.
I believe that Home Depot has done an excellent job at reaching its goals in the past ten years. They have been able to expand their market by aggressively opening several store locations and using a clustering strategy. In doing this they have become a market leader and they have also been able to keep their SG&A expenses down by eliminating redundant expenses by spreading them out between stores close in proximity to each other. Home Depot is facing a few problems in order to continue reaching its stated goal(s) of becoming a global leader and expanding their existing market. There are a few established business that are in direct competition with Home Depot such as Lowe's, their number one competitor, and other companies such as Eagle Hardware & Garden of Seattle, who has been preparing for the intense competition
Home Depot was founded in 1978 by Bernie Marcus and Arthur Blank. These founders envisioned providing one-stop shopping for the “do-it-yourselfer,” and this vision became a reality after working with investment banker Ken Lagone and merchandising expert, Pat Farrah. The first two stores were opened on June 22, 1979, in Atlanta, GA. These first stores were approximately 60,000 square feet in size each, and stocked 25,000 products, which made the stores drastically larger than any competitor or hardware store at that time. In addition to offering more products than competitors, store associates were also expected to offer the best customer service in the industry. Associates at
Bernie Marcus and Arthur Blank founded Home Depot Corp in 1978 (The Home Depot, 2013). The business created strategic product analysis providing an assortment of items to consumers. From the beginning, workers have been able to deliver superior customer satisfaction in the business, helping consumers with jobs such as handling power tools, changing out parts on appliances, laying tile, etc. The Home Depot employees all underwent arduous training to familiarize each employee with products. In addition, the business began hosting workshops to teach consumers on how to do things themselves.
The Home Depot is an option for retail in the home improvement industry (homedepot.com, n.d.). Home Depot’s strategic perspective appears to one that has been successful although the organization has remained in close competition with the competitor, Lowes. Both organizations are essential for home owners in that one can easily acquire building materials of all kinds. Upon entering a Home Depot store one is exposed to the vastness of product offerings. This vastness could cause one to argue that this type of store is not specialty but I offer that the Home Depot is a specialty in that you can only purchase home building or home improvement items. These items are specific to Home Depot. There is a no frill style of display and several
Home Depot is the world 's largest home improvement retailer and the second largest retailer in the US, based on net sales for the fiscal year ended January 2008. Home Depot stores average about 105,000 square feet of enclosed space with approximately 23,000 additional square feet of outside garden area. The company operates 2,234 stores in total including 2,193 Home Depot stores in the US (including the territories of Puerto Rico, the Virgin Islands and Guam), Canada, China and Mexico. However, tight labor markets, government mandated increases in minimum wages and a higher proportion of full-time employees resulted in an increase in labor costs, which would increase the overall costs and affect the company 's margins.
The Home Depot, Inc. has climbed its way up to being one of the world’s largest home improvement centers, one of the largest retailers in the United States, and rank in the top 100 in the Fortune 500 companies list provided by fortune.com. (Fortune 500, 2016) They operate 478 warehouse stores that sell thousands of items to customers and professionals. They have retail stores located throughout the United States, with stores in all 50 states, as well as in Mexico, Chile, and Canada. Their goal is to offer high levels of service, a broad selection of products, and have the most competitive prices. Home Depot was founded in 1978 by coworkers Arthur Blank and Bernie Marcus. The two hatched a business plan, and after securing sufficient
Home Depot is the world's largest home improvement retailer operating in 45 states, Canada, Chili and Puerto Rico. Home Depot stores aim to serve both do-it-yourselfers and professional contractors with home improvement superstores carrying between 40,000 and 50,000 different products. Home Depot has also been listed as one of Fortune's most admired specialty retailers for the past six years. In order for companies to succeed in the competitive current marketplace they must consider not only the bottom line and their investors but also their impacts on the community, their employees, and their customers. Home Depot was founded on the idea that treating employees well is an important responsibility. Home Depot believes employees that are
The First alternative: Since Home Depot served very poor customer services; it should work on getting back customer’s trust by means of implementing various strategies. One of the solutions to address above issues is to churn off most of the part time employees that were hired and bring back experienced and trained employees who can connect to the customer well and satisfy them. They should also train new employees according to a particular standard.
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. We are a values-driven
The Home Depot Inc. was founded in 1978 and is the world’s largest home improvement retailer and the second largest retailer in the United States. The sales for the fiscal year 2000 were $45.7 billion, compared to $38.4 billion in fiscal 1999. As of January 2001, the company was operating 1,134 retail stores in forty-seven states, six Canadian provinces, Puerto Rico, Chile and Argentina.
A strong foundation for success and growth was already in place in Home Depot under Marcus leadership. The company demonstrated a very strong culture, built on entrepreneurialism and customer service. Abundant promotion opportunities were created due to rapid growth attracting carpenters, plumbers and other building professionals as salespeople. Most of the non-entry-level jobs were filled internally, and from the 400 department heads, just a dozen came from outside the company. Additionally, employee stock