The Home Depot is the largest home improvement retailer in the world and caters to a very large market worldwide. This market consists of everybody from do-it-yourselfers to home improvement, construction and building maintenance professionals. Each of their stores stocks approximately 40,000 to 50,000 different kinds of building materials, home improvement supplies and lawn and garden products. The Home Depot is a publicly traded company and is included in the Standard & Poor's 500 Index and the Dow Jones 30 Industrial Index, with reported net sales of $53.6 billion last year (2001) it was named the sixth most admired company in America by Fortune Magazine. With these credentials acquired in 22 years of existence, their management organization is obviously doing something correct.
Home Depot has built its service and commitment to its customers on eight core values which they include in their mission statement, implying that they are very service oriented.
These are the eight beliefs and principles that guide all of The Home Depot associates: Taking Care of Our People; Excellent Customer Service; Entrepreneurial Spirit; Respect for All People; Building Strong Relationships; Doing The Right Thing; Giving Back; and Creating Shareholder Value. The Home Depot has created a very efficient strategy in developing a very favorable competitive advantage to other organizations. They do not focus on just one aspect of building supplies, but they cater to the entire industry from supplying builders to homeowners with the necessary supplies and services, which are demanded from both sides. The Home Depot provides an extensive line of services to encourage and market their organization. Some of the services that they provide are:
ÃÂ§Delivery Service- used to deliver large orders where customers could not transport large quantities or heavy products by themselves.
ÃÂ§Tool Rental- allows do-it-yourselfers to do project by...