“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.” The above sentence is the mission statement of The Home Depot. The mission statement itself reveals what kind of standard The Home Depot is looking for. The Home Depot Incorporation was established on 22nd June, 1978 by Bernie Marcus and Arthur Blank. Home Depot is the world’s biggest home improvement retailer with 2242 retail stores in the United States and other countries across the globe. According to the article in Reuters, The Home Depot Inc. stands on the fourth largest retailer in the United States and fifth in the world. Since 1984, The Home Depot Inc. stocks are being traded at New York Stock Exchange under the trade symbol of “HD.” Although, The Home Depot Corporation is a very successful company, Home Depot holds some unique qualities which separate it from other business counterparts. It is their values, respect & loyalty towards their customer and the society which makes The Home Depot successful. Today, Home Depot is known as a pioneer in the development of home service improvement products. Their ethics have helped them climbed the ladder of success in recent years. This business is somehow related to the customers’ emotions and expectations. And their current standing in world market itself suggests that they have been on top of their servings. Currently, The Home Depot Inc. ranks in Top 50 for the America’s Most Reputable Companies list on Forbes 2009. The Home Depot Inc. has not only launched promotional campaigns and provided monetary funds for the needy people in society, but has also incorporated ways to save society from natural disasters. According to the Corporation of Natural & Community Service, The Home Depot Foundation has helped the regions impacted by Hurricane Katrina by offering them 11 million for the rebuilding process. They have even launched a few corporate programs which promote their high standards of corporate responsibilities and leadership amongst the people and their own employees. Examples of these corporate programs are “The Home Depot Trade Scholarship Program” and “The Home Depot Community Hockey Program.” Also, Home Depot now has improved by making commitments to carry environmental friendly certified "green" products, all of which make positive statements about the company. Industry Analysis
The renowned Home Depot Corporation is widely spread across North America, China, and other parts of the world with almost 2000 store locations. It is involved in the retail and service business providing consumers with all the help required to create a dream home. The inventory of each store is approximated at 40,000 with over 250,000 other products not present on site. These products can be ordered specially for the consumer from various store locations across the globe. The merchandise available at the different store locations varies due to the fact that each local region has different market needs and it is important that such needs are met for consumer satisfaction. These products range from different kinds of home building materials, improvement supplies, appliances, apparel, and lawn and garden products, amongst other products required to decorate and create your home. Despite making great strides in the retail business, it also offers services of various kinds to fulfill its mission in becoming a top corporation in the home improvement business. Many customers are not qualified professionals to take on home renovation projects. Home Depot Home Services offers professional help to such customers to professionally complete their project. These include the installation of windows to water heaters, floors to roofs, kitchen cabinets to vinyl siding, and fencing to landscaping. While the Home Depot Home Services program can...
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