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The Home Depot strongly uses two visions statements. Their original statement that was created by its founders was to provide "one-stop shopping for the do-it-yourselfer" (Ferguson, 2018). And the second is a revision and addition to the first which is "to create a company that would keep alive the values that were important to us. Values like respect among all people, excellent customer service and giving back to communities and society" (Ferguson, 2018) This statement highlights key factors which define the corporation's daily operations. Home Depot aims its operations to be a one-stop shopping venue by incorporating a large array of products that will provide convenience for their consumers and a smoother shopping experience.
The Home Depot caters to three primary customers, the do-it-yourself consumers which are individuals who complete projects using online or store resources, do-it-for-me costumers who are looking for professional installers which The Home Depot can provide, and professional customers which includes contractors, designers, and renovators. (Market Realist, 2018) Home Depot uses the "whatever it takes" philosophy to satisfy customers with their basic needs by providing unique customer service. They provide the consumer with a large array of product assortment and quantities priced at the right price. Their chain stores operate various departments that focus on different parts of a home. Departments such as building materials, lawn, garden, general décor, plumbing, paint and electrical are key to interior home improvements. Home Depot provides services such as professional installations and home maintenance. Installation services consist of flooring, kitchens renovations, water heater replacements, window/door repair or replacement and fence installations
Q2. How does their operation function support their business strategies?
A business strategy is the master plan that the management team uses to secure a competitive position in the market, carry on its operations, please customers and achieve the desired ends of the business (Reid, D., & Sanders, 2015). The Home Depot's mission statement strategizes the company's business development. It states, "to provide the highest level of service, the broadest selection of products and the most competitive prices." (Ferguson, 2018) The statement clearly states the company commits to providing the highest quality of consumer service, a large selection of products based at the store and online, and excellent competitive prices. The Home Depot continues to dominate the home improvement industry by focusing on innovative strategies that will keep them in the number one rank. The company believes in providing the customer with the appropriate product assortment and quantities at the right price. It also believes in having trained employees on hand to help customers make appropriate choices.
