over differences of opinion on control. At the time of start-up, industry experts gave Home Depot 10-to-1 odds it would fail. All of them but one of the people holding posts as president were promoted from within. .
The Board of Directors facilitates Home Depot's exceptional past growth and will likely continue to do so. Top Management has been instrumental in developing and promoting the orange-blooded culture that makes Home Depot the success it is today.
III. External Environment - Opportunities and Threats.
A. Societal Environment.
1. Sociocultural Forces.
Opportunities:.
• The U.S. Bureau of Economic Analysis predicts that by the year 2005 there will be a 30-plus percent growth in the 41-59 age group, a prime demographic group for BIY customers.
• Generation Y boom let may end up being as large as Baby Boomers.
• Changing households - increase in single person households; increase in women working creating two income households with greater amount of disposable income for improving their homes.
• Minority groups increasing as a percentage of U.S. population.
• Rate of home ownership in U.S. continued to grow as first time buyers entered market.
• Baby boomers moved in force to more expensive homes and second homes.
• Studies showed that the average age of existing homes continued to increase and people were staying in their homes later in life.
• Typical DIY customer was a married male homeowner, aged 25 - 35 with a high school diploma or some college and annual income of $20,000 to $40,000. .
• Chile has a growing middle class population and developed D-I-Y market.
• Projections through 1999 indicated that households headed by 25-35 year olds with earnings over $30,000 would increase 34% to 38% by 1999. .
• The 45 - 54 age group was earning over $30,000 and was expected to increase by 40%. .
Threats:.