Home Depot's Social Responsibility Approach

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,

The Home Depot mission statement reads as follows: “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 company and our eight values include the following: excellent customer service, taking care of our people, giving back, doing the “right” things, creating shareholder value, respect for all people, entrepreneurial spirit, and building strong relationships.”

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.

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 and wall coverings. To balance the national brand name products it offers, the Company has formed strategic associations with vendor partners to market products under brand names that are only offered through The Home Depot. “As of fiscal

One of the philanthropic action of Home Depot is, they support the communities that suffered from the natural

Leadership: Home Depot’s top strength lies in its leadership. In spite of being highly dependent on macroeconomic factors for success, the retailer managed to stand its ground during the recession. When revenues were declining at an annual rate of 7-8% between 2008 and 2010, Home Depot did not let EPS numbers dip below the $1.37 figure that was recorded in fiscal 2008. Home Depot’s focus on cost saving and productivity enhancing strategies under the leadership of former CEO Frank Blake was instrumental in seeing the company through the global meltdown. Clearly, Home Depot has survived one of the worst economic situations and has a number of strategies up its sleeve that could

Home Depot is the world’s largest home improvement chain. The company was founded in 1978, and enjoyed successful growth decades after its first store opening. The company underwent a change in management; CEO, due to performance issues in 2000 with new metrics and business model that focused on profits and performance. This change was profitable but incongruous with the company’s culture of customer service. A later CEO with prior internal knowledge and experience would later bring the company to its glorious days again.

The principles they follow through demonstrates exceptional social responsibility. For quite some time now, Home Depot has been making positive differences in the home improvement products industry and in the lives of people who are using its products. It all started with the constant protest from environmental protector groups accusing the company with the failure to protect the forests in danger of being destroyed. According to an article published in The Wall Street Journal (2004), Home Depot started making practical efforts to sustain the environment by initiating the Wood Purchasing Policy (1999) to protect the endangered forests in different parts of the world where the company got wood as a raw material from their suppliers. Since then the Home Depot management has taken it very seriously to do everything within their reach to eradicate all the acts of endangering the environment from all of their

Home Depot made changes to their environment principals in the 1990’s to become more eco-friendly. Home Depot now has strict guidelines to help them strategically conserve and protect the environment. Home Depot is one of the largest retailers to host solar programs, this was accomplished by installing solar panels throughout over 60 of their retail stores. Home Depot provides their employees with environmental awareness training, as well as provides training to consumers. Local employees are trained to answer any questions or concerns that consumers may have with products or construction. Consumers will return to the store knowing that they will get accurate and helpful information when doing home improvements.

According to Home Depot’s corporate website, the company was founded in 1978 by Bernie Marcus, Arthur Blank, Ken Langone, and Pat Farrah in Atlanta, Georgia. The companies vision was to create a “one stop shop” for all needs of home owners and builders. They were the first home improvement stores with massive warehouses as stores that provided everything needed to literally build a home from scratch. Over the years, the founders opened more stores nation-wide. Over the next few years, Home Depot expanded into Canada in 1994 and subsequently Mexico, and China (Home Depot, 2016, para. 1-4). Because this assignment is for a class on strategic planning, it is

Home Depot’s mission statement is “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 company and our eight

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

If Home Depot were a prospector, they would continually be launching new business ventures and development opportunities, and this is not the case. Home Depot takes advantage of supply chain efficiencies and economies of scale to reduce costs and considers outstanding customer service a critical part of their product offering to customers (Murphy, 2013; “Our History: The Home”, n.d.). This creates a differentiating factor that separates Home Depot from the competition and has aided in their ascension to the position of industry

Since Home Depot opened their doors in 1979, they set out to lead the market in excellent customer service. Their motto of “ whatever it takes” shows their commitment to differentiate themselves in that field (website, 2011). And it certainly seems to have helped them lead the market and continue to grow their business beyond U.S. borders and be competitive on a global scale. It is a part of what founders Bernie Marcus and Arthur Blank deem the “Three Legged Stool” of their overall business strategy (Darrow, 1994, para. 8). The first leg is to provide the best selection and quantity of home building supplies to satisfy as many do-it-yourself customers as possible. The second leg of the

More doing.” This was intended to appeal to “cash-strapped homeowners” (Mahoney 2009). They also focused more energy into their social media marketing. One thing they did, which has paid off was institute their on-call experts program. They have Home Depot employees, who write how-to articles, blog posts and more on home repair advice, remodeling projects, gardening tips and more (Zmuda 2011).