DEC 15, 2012
A company analysis requires analyzing the history, motives, goals, values, management plan, and etc of the company. Company analysis compremises of several large components like a companies historical aspect, SWOT analysis, marketing analysis, and Management analysis. Lowes historical prospective consisted of provides consumers with satatsfaction and products for improvement and building all sections of their dwellings. SWOT analysis is a corporations strengths, weaknesess, opportunities, and strenghts in a certain time span. It was originated by Albert S Humphrey in the 1960s. Performing a SWOT analysis on Lowes provides an important aspect on corporations standing basis in the business world. Lowes has grown tremendously over the years. SWOT analysis provides provides the company with opportunity to improve and grow. SWOT analysis establishes a cycle which helps in the growth of the company, economy, and ultimately a nation. Marketing is the self-expression of a corporation. Marketing analysis is a necessity for businesses. To gain profit Lowes is trying to beat their competitors by marketing in new and different manner to attract customers, and develop customer loyalty. Proper application of all these factors and techniques to Lowes business strategy will lead to a successful Lowes corporation.
Lowes Company Analysis
Historical Perspective on the Organization
Lowes is a home improvement retail corporation with a historical prospective in home improvement. The corporation was found in 1946 by H. Carl Buchan ( Lowes.com, 2012). Initially Lowes was a small hardware store located in a small town of North Carolina, which provided customers with hardware supplies. Their mission from start till today has been customer satisfaction in home improvement products (Lowes.com 2012). Carl Buchan the founder of Lowes took a route similar to many other companies. He started off with a small store which dealt with middle man dealers, who provided supplies from the manufacturing companies. Eventually Carl Buchan started direct dealing with the manufactures themselves. This saved the cost of middle man, and raised company profits. This started Lowes corporation. Lowes official publication as a corporation was declared in 1961 ( Lowes heritage.com, 2012). 1961 was the era of housing developmet. Houses were being built, or updated to modern technology. 1982 was Lowe’s first billion dollar sales year, they earned a profit of $25 million ( Lowes heritage.com, 2012). Currently Lowes is the 7th most successful hardware retail in United States. Anticipating a future change Lowe’s corporation enlarged their stores nationally, and expanded merchandise offerings in correlating to home improvment. Another change Lowe’s launched was the “do it yourself technique” to aim middle class home owners who wanted to built cost effeciently (Lowes heritage.com, 2012). The modern Lowe’s era started in 1994, when store expansion consisted of only large stores. Expansion continues as Lowe's went globaly and opened their first stores in Canada in December 2007, and in Mexico in 2010 ( Lowes Heritage.com, 2012). Quality products were also added to stores to expand individuals experience in purchasing products according to individuals budget ( Lowes Heritage.com, 2012). Although it has travled a long way since it started in 1946, Lowe’s values still have not changed. The company initial commitment to offering home improvement products at the lowest cost remained the same (Our Heritage Lowes. com, 2012). Organization and the Business Units
From a single hardware store Lowes developed into a multiple unit corporation. All the units are related to home improvement. Business units are located under a one roof corporation. From the various business units of lowes are roof replacement, window replacement,...