More importantly, the television station would offer advice and demonstrations on how to install the items purchased on your own, without the assistance of home improvement specialists.
The desired consequence of all these opportunities, as well as other strategies, is to increase the market share and revenues. However, all options include a certain level of risk that could generate unfortunate results. That is why, prior to making a decision, management, marketing and financial departments need to analyze the opportunity from several view points.
3. Long-term objectives on profitability, competitive activities, technological and market leadership, as well as the social and environmental responsibilities of the company
Aside from the general long-term objective of increasing their market share and revenues, the managers at Home Depot desire to become among the strongest international and national competitors and to increase the dividends towards their shareholders.
Regarding the first objective, it is easily observed that Home Depot can reach their goal. In support of this statement comes the company's evolution during the past three years. As such, in 2003, the home improvement provider was not included in the Top 50 American Organizations for Multicultural Business Opportunities, but received an Honorable Mention. The following year, Home Depot came in 32nd out of 50, whereas in 2005, they got the 24th place, sketching their ascendant trajectory.
In order to face the competition of other home improvement companies, Home Depot began by improving their general image. In doing so, they became sponsors of numerous sporting events, such as the U.S. And Canadian Olympic teams, NASCAR or the U.S Major League Soccer team (Chivas USA). Another advantage in competing with international producers is given by the fluctuation of the currencies. For instance, "due to the fluctuation of U.S. And Canadian currencies, some American and/or Canadian citizens may purchase home improvement items in each other countries' Home Depot stores."
Home Depot works with highly trained and experienced technical engineers which are at all times up-to-date with the latest innovations. The producer acknowledges the importance of technology in the current society and uses it in all activity domains from employee...
Home Depot is "betting big on technology to boost productivity while plunging into services. There is also a push to innovate, with spiffy new store designs, and a move into largely untapped foreign markets, such as China, where the company is scouting locations."
The marketing department set the company slogan "You can do it, We can help "and states that Home Depot performs their activities in full accordance with judiciary and moral laws, protecting their interests, their shareholders' interest, the customers' interest and the best interest of the environment.
Bibliography
Wikipedia, the Free Online Encyclopedia, March 21, 2007, the Home Depot, http://en.wikipedia.org/wiki/Home_depot,last accessed on March 23, 2007
Website of Home Depot, 2007, Corporate Governance Overview, http://ir.homedepot.com/governance/guidelines.cfm#mission, last accessed on March 23, 2007
Corporate Home Depot, 2007, 2007 Supplier Diversity Events, http://corporate.homedepot.com/wps/portal/!ut/p/.cmd/cs/.ce/7_0_A/.s/7_0_10P/_s.7_0_A/7_0_10P,last accessed on March 23, 2007
Dane Carlson, September 6, 2006, Home Depot to Add Live Television to Web Site, Business Opportunities Weblog, http://www.business-opportunities.biz/2006/09/06/home-depot-to-add-live-television-to-web-site/,last accessed on March 23, 2007 Brian Grow, October 25, 2004, Home Depot: Thinking Outside the Big Box, Business Week Online, http://www.businessweek.com/magazine/content/04_43/b3905090_mz017.htm, last accessed on March 23, 2007
Wikipedia, the Free Online Encyclopedia, March 21, 2007, the Home Depot
Website of Home Depot, 2007, Corporate Governance Overview
Corporate Home Depot, 2007, 2007 Supplier Diversity Events
Wikipedia, the Free Online Encyclopedia, March 21, 2007, the Home Depot
Dane Carlson, September 6, 2006, Home Depot to Add Live Television to Web Site, Business Opportunities Weblog
Corporate Home Depot, 2007, 2007 Supplier Diversity Events, Accomplishments
Wikipedia, the Free Online Encyclopedia, March 21, 2007, the Home Depot
Brian Grow, October 25, 2004, Home Depot: Thinking Outside the Big Box, Business Week Online
