Sign Up Now
Get instant access to over 1 million+ study documents
OR
Already registered? click here to login
By creating your account, you agree to our terms of service, privacy policy and student honor code.
Organizational Stakeholders
Over the last several years, Home Depot has been through a number of different challenges. Part of the reason why this was occurring, is because of shifts in the housing market with consumers dramatically cutting back on their spending. This had a negative impact on the earnings of the company and it has resulted in the former CEO Robert Nardelli being forced to resign. The reason why is because, the needs of various shareholders were not being taken into account. ("Home Depot CEO," 2007) Once this occurred, it meant that there would be new management who were attempting to address all of these different needs. To fully understand how this is taking place requires looking at: the various stakeholders for Home Depot, how the CEO manages the demands of stakeholders and the way they are presently addressing these needs. Once this occurs, it will provide the greatest insights as to the how the company has been adjusting to the various changes that have been taking place. While at the same time, it will highlight the numerous ways they are taking these factors into account.
Who are the various stakeholders for Home Depot?
There are a number of different stakeholders for the company the most notable include: the shareholders, customers, suppliers, communities and employees. The shareholders are considered to be owners of the company who share in the underlying profits of the corporation. The customers play an important role in helping the company to increase their overall...
The communities play a major part in Home Depot's success, as they are helping to support the organization through friendly tax policies and with the customers that shop at different retail outlets. The suppliers allow the company to receive a continuous supply of low cost products that they can sell to customers. The employees are helping to ensure that anyone who is shopping at these locations is receiving good service for the products that they are selling. These different elements are significant, because they are highlighting how Home Depot has the ability to meet the demands of all of the stakeholders based upon: the products and services that they are selling. ("Social Responsibility," 2005)
How did this CEO manage the portfolio of stakeholder demands?
At first, Nardelli managed stakeholder demands by helping the company to: increase market share and improve their earnings. This was accomplished through providing customers with the products that they were looking for at the lowest prices. Where, they worked together with their suppliers to achieve these overall objectives. At the same time, they hired many employees from local communities, which created jobs and raised various tax revenues for local governments. The staff played a role in helping the company to be able to offer products and services that were superior to that of competitors. Over the course of time, this helped the company to have a positive…
Bibliography
Board of Directors. (2011). Home Depot. Retrieved from: http://ir.homedepot.com/phoenix.zhtml?c=63646&p=irol-govBoard
Home Depot CEO. (2007). MSNBC. Retrieved from: http://www.msnbc.msn.com/id/16451112/ns/business-us_business/t/home-depot-ceo-nardelli-quits/
Home Depot Raises 2010 Outlook. (2010). CNBC. Retrieved from: http://www.cnbc.com/id/40564833/Home_Depot_Raises_2010_Outlook_on_Stronger_Sales
Social Responsibility. (2005). Business Week. Retrieved from: http://www.businessweek.com/magazine/content/05_33/b3947114_mz017.htm
Audience Over the last several years, the issue of effective business communications has been increasingly brought to the forefront. This is because the way an organization is able to communicate with stakeholders will have an impact on the underlying levels of economic growth. To determine the result of these strategies requires focusing on how the Chamber of Commerce is able to connect with different parties. This will be accomplished by
Strategic Alignment In the last several years, the Strategic Alignment Maturity model is focusing on understanding how an organization can evolve with the different challenges they are facing. This is achieved by carefully examining the business and IT configuration of the firm. To fully understand how this works requires comparing the model with an actual health care organization (i.e. Kaiser Permanente). These insights will illustrate its effectiveness and how it helps
Human Resources Over the last several years, the issue of employee compensation has been increasingly brought to the forefront. This is because globalization is requiring firms to have employees with specialized skills. In the case of the mid-level manager position, the ideal candidate must be able to meet the basic qualifications to include: a good communicator / listener, leadership, someone who can work well with others, a minimum of a four-year
Teams Over the last several years, the role of leadership delegation has been increasingly brought to the forefront. This is because of the continuing need to use these skills sets in achieving critical objectives. According to Lussier (2010) this is an essential tool that is utilized as a part of their position with him saying, "To execute both roles effectively is a challenge. It is not an easy task, given
Education Over the last several years, educators have been facing considerable challenges in meeting rising expectations for performance. This is because a host of solutions (such as the No Child Left Behind Act) have not addressed the lack of student achievement. Instead, academic performance has continued to linger and become worse in some areas (i.e. mathematics and science). (Hannah, 2012) In New Jersey, the Core Content and Common Core Curriculum standards is
Wal Mart Over the last several years, Wal Mart has been a story that is focused on continuing successes and challenges. This is because the company was impacted by issues such as employee rights, costs and fierce competition. Yet, at the same time, they were able to experience continuing increases in their bottom line results. This is despite the fact that consumer spending has remained stagnant in the aftermath of the