Swot Analysis
303SWOT
The store we all know of today as Lowe’s Home Improvement started out as a single small hardware store located in North Wilkesboro, North Carolina back in 1921. Lucius S. Lowe died in 1940 and left his business to his daughter Ruth Lowe. She eventually sold the company to her brother Jim Lowe. Jim Lowe took on his sister’s husband Carl Buchan as a partner in 1943. In 1952, Jim and Carl had different ideas on company expansion, so they split into 2 companies and Carl Buchan took control of the hardware business. This was the start of the Lowe’s we know of today. The company overview today is demonstrated best from their website, “Lowe 's has been helping our customers improve the places they call home for more than 60 years. Founded in 1946, Lowe’s has grown from a small hardware store to the second-largest home improvement retailer worldwide. Lowe’s stores stock 40,000 products in 16 product categories ranging from appliances to tools, to paint, lumber and nursery products. Lowe’s has hundreds of thousands of products available by Special Order – offering everything customers need to build, maintain, beautify and enjoy their homes. Lowe 's operates more than 1,745 stores in the United States, Canada and Mexico.”
The first organization strength is “Established presence and efficient merchandising” This is strength because Lowe’s has been in business for 66 years and is the second largest home-improvement company in the world. Every store location efficiently targets the needs of the customers in that specific area of the country. “Lowe’s stores aim at providing ideas to the customers and point of view merchandising displays in the stores which aims at increasing the customer traffic.” This is a strength because Lowe’s is able to build a store specific to the community it resides in. If the need of the community is lumber, the store will have a large lumber yard to support the business in that area. The second organizational strength come
The store we all know of today as Lowe’s Home Improvement started out as a single small hardware store located in North Wilkesboro, North Carolina back in 1921. Lucius S. Lowe died in 1940 and left his business to his daughter Ruth Lowe. She eventually sold the company to her brother Jim Lowe. Jim Lowe took on his sister’s husband Carl Buchan as a partner in 1943. In 1952, Jim and Carl had different ideas on company expansion, so they split into 2 companies and Carl Buchan took control of the hardware business. This was the start of the Lowe’s we know of today. The company overview today is demonstrated best from their website, “Lowe 's has been helping our customers improve the places they call home for more than 60 years. Founded in 1946, Lowe’s has grown from a small hardware store to the second-largest home improvement retailer worldwide. Lowe’s stores stock 40,000 products in 16 product categories ranging from appliances to tools, to paint, lumber and nursery products. Lowe’s has hundreds of thousands of products available by Special Order – offering everything customers need to build, maintain, beautify and enjoy their homes. Lowe 's operates more than 1,745 stores in the United States, Canada and Mexico.”
The first organization strength is “Established presence and efficient merchandising” This is strength because Lowe’s has been in business for 66 years and is the second largest home-improvement company in the world. Every store location efficiently targets the needs of the customers in that specific area of the country. “Lowe’s stores aim at providing ideas to the customers and point of view merchandising displays in the stores which aims at increasing the customer traffic.” This is a strength because Lowe’s is able to build a store specific to the community it resides in. If the need of the community is lumber, the store will have a large lumber yard to support the business in that area. The second organizational strength come
Bibliography: Retrieved May 20, 2012 from http://media.lowes.com/company+overview/ DATAMONITOR: Lowe 's Companies, Inc DATAMONITOR: Lowe 's Companies, Inc. (Jan. 2011). Lowe 's Companies, Inc. SWOT Analysis, 1-10. Retrieved May 20, 2012 from http://quickfacts.census.gov/qfd/states/00000.html B [ 2 ]. DATAMONITOR: Lowe 's Companies, Inc. (2011). Lowe 's Companies, Inc. SWOT Analysis, 1-10. [ 3 ]. DATAMONITOR: Lowe 's Companies, Inc. (2011). Lowe 's Companies, Inc. SWOT Analysis, 1-10. [ 4 ]. B. James (personal communication, May 17, 2012) [ 5 ] [ 6 ]. DATAMONITOR: Lowe 's Companies, Inc. (2011). Lowe 's Companies, Inc. SWOT Analysis, 1-10. [ 7 ]. DATAMONITOR: Lowe 's Companies, Inc. (2011). Lowe 's Companies, Inc. SWOT Analysis, 1-10. [ 8 ]. DATAMONITOR: Lowe 's Companies, Inc. (2011). Lowe 's Companies, Inc. SWOT Analysis, 1-10. [ 9 ]. DATAMONITOR: Lowe 's Companies, Inc. (2011). Lowe 's Companies, Inc. SWOT Analysis, 1-10. [ 10 ]. Retrieved May 20, 2012 from http://quickfacts.census.gov/qfd/states/00000.html [ 11 ] [ 12 ]. DATAMONITOR: Lowe 's Companies, Inc. (2011). Lowe 's Companies, Inc. SWOT Analysis, 1-10. [ 13 ]. DATAMONITOR: Lowe 's Companies, Inc. (2011). Lowe 's Companies, Inc. SWOT Analysis, 1-10. [ 14 ]. B. James (personal communication, May 17, 2012)