Management 3800: Public Policy
I. Current Situation
Looking at Staples current performance in the past year, we will look at three things: return on investments, market share, and profitability. * Return on Investments: 9.95%
* Market Share: 90% of market cap when comparing Staples, Office Depot (5.72%), Office Max (3.89%) * Profitability - $24.5 Billion in sales; $6.7 Billion in Gross Profit
Staples, Inc. is the world’s leading office supplies company. The firm is committed to making it easy for customers to buy a wide range of office products and services. “[Staples’] mission is to bring easy to offices worldwide.” Objectives
Staples’ objectives stem from their formula of success. Their formula focuses on taking care of customers, striving for consistent execution, and investing wisely to drive long-term growth. At Staples, doing what is right is just as important as performing well. The formula for success comes from a strong foundation of ethics and corporate governance and is not just an idea but is actually demonstrated on a daily basis. Thus, a strong sense of trust is built from customers all the way to investors and stakeholders. Holding all employees accountable allows standards of honesty, fairness, and integrity to be set at a high standard; but most of all, Staples hold ethics above all else. Strategies
Due to the large size of Staples, Inc., there are different strategies for different sectors. In Staple’s contract business sector, focus is on targeting the mid-size businesses and organizations that employ 20-500 office workers. Staples targets small business organizations with 20 office workers to purchase products from the catalog and on-line customers. The retail store sector targets small businesses, home offices, and individual consumers. A key factor in Staples’ success is the ability to target different consumer segments through different sales fronts. Through the differentiation, Staples is able to focus more on individual customers than anything else. Staples success comes through a combination of low prices, broad selection of office products, wide ranges of technology, copy and print services, high quality and innovative products all provided with fast and excellent customer service. “[Staples’] strategy is to maintain our leadership in the office products industry by delivering on our new brand promise: we bring easy to your office.” Policies
Staples’ policies all surround a central idea of doing what is best for the customers. All policies work off Staple’s corporate values: ethics, environment, diversity, and community.
Ethics is part of the firm’s culture and all employees are encouraged to be open and honest. The Code of Ethics can be located on the company website under the investor relations section and is the ongoing tool used by Staples to ensure that all associates can build a trusting relationships with customers.
Staples also looks to build an ever last relationship with the environment. Staple’s is committed to offering a broad selection of environmentally responsible products. The corporation provides easy recycling solutions for customers and associates. Last year, Staples recycled 61 million ink and toner cartridges and 10.4 million pounds of office electronics for customers. Staple’s strives to be better towards the environment and the firm’s stakeholders.
Staples understands that diversity is good for business and believes in reflecting the face of its customers through its associates. The firm strives to inspire the people of the world and of Staples to think more creatively through an environment that offers a diversity of people, of thought, and of experience. The diverse workforce and network of suppliers that have come from this corporate value strengthens the relationships with customers.