Term Paper on "Home Depot Overall Strategy and Decision Making"

Term Paper 4 pages (1311 words) Sources: 4

[EXCERPT] . . . .

Home Depot

Overall Strategy and Decision Making Process

Home Depot's mission

Home Depot is an American company founded in 1978 in Atlanta, Georgia, nowadays running subsidiaries in more parts of the world, such as Canada, Mexico or China. The company's domain of activity is represented by products and services designed for those customers who desire to build houses or improve the ones they already own and include everything from bathroom flooring appliances to fences or garden appliances. In other words, Home Depot's activity domain is that of "constructions and home improvement."

With annual revenues of 81.511 billion USD and 5.838 billion employees, the Home Depot is not a simple product and service provider; it is also a company that "strives to be the employer, retailer, investor and neighbor of choice in the home improvement industry."

The company's mission, as stated by the management of Home Depot is summarized in the mission statement and it states: "The Board of Directors of the Home Depot, Inc. is committed to maximizing long-term shareholder value while supporting management in the business and operations of the Company, observing the highest ethical standards and adhering to the laws of the jurisdictions within which the Company operates."

Otherwise said, the goal of Home Depot is to best serve their clients and in doing so to also serve the best interest of their shareholders by performing their duties with responsibility. A responsible managing activity leads to formulating informed decisions that are prone to increase the company's market share, customer satisfaction and shareholder revenues. Further more, all Home Depot activities are developed in complete accordance with legal and moral laws.

2. Business opportunities

There are several opportunities for Home Depot to enlarge their business, the most relevant being constant participation to conferences on home improvement, participation to markets where they could present their products and services, expansion towards other regions of the globe, diversification of their offers or improvement of their online store.

By delegating representatives to participate to conferences on construction and home improving topics, Home Depot would get a clear insight on the latest technologies available on the market. These technologies would aid the company in developing better quality products, consequently leading to an increase in sales and customer satisfaction, and eventually to an increase of the market share and shareholders revenue.

Another opportunity presented by the American market is that of participating to annual events on construction and home improvement. These events introduce the producer with the opportunity to address to a large public and present their products and services. It is a generally accepted fact that companies increase their sales after having participated to national fairs. Further more, participation to such events is a means of national and international advertise, as it is also a means of getting insight on the competition's offer. Few examples of such fairs to which Home Depot has previously attended and should continue doing so are the Wall Street Project Organization, Reservation Economic Summit and Business Trade Fair Organization or GHCC Annual Trade Show Organization.

Home Depot possesses nine stores in South America; their number was initially intended to increase, but was limited to the same amount due to an economic crisis in the region. Currently, the producer should consider expansion of their business towards other regions of the globe, for instance Europe or East Asia. However, provided that the strict no-union policy promoted by Home Depot does not entirely apply in Europe or in Asia, the process of expansion could be slowed down and inefficient.

The diversification of the products and services offered is yet another opportunity to enlarge Home Depot business. Even if the current product palette is quite broad, the company could enlarge it by granting customers the possibility to personalize their purchases. Still in the field of diversification, the company could develop their web site and improve the quality of their online store. Home Depot recently announced the launch… READ MORE

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