Success depended on Home Depot's ability to act and react with speed, spot changes, and catch trends early.
• Provide increasing availability of "job lot quantities- responds to the professional customer's need to buy in larger quantities to complete most jobs.
• Offers installation services for many products and an exclusive rental truck service for their customers.
• Operates it's own television network, the HDTV.
• Uses the advertising strategy to create awareness of the company's stores and encourage the do-it-yourselfers to tackle more at home projects.
4 Home Depot current polices.
• Test a new innovation at select stores, and if successful, pass them on to the others.
• To open stores even in mature markets in order to further penetrate and increase its presence in the market.
• Complete customer satisfaction.
• Division managers are responsible for specific product categories, and were to make sure business lines were kept current.
• Field merchants worked with stores to make sure proper implementation of new programs took place and maintenance of ongoing programs. This strengthened product lines, got right merchandise to customers, reduced administrative costs, and prepared Home Depot to expand into more product lines.
II Corporate Governance (see appendix A.1).
A. Board of Directors.
The board of directors is composed of 11 members. There are 7 external and 4 internal members, of which 9 are male and 2 female. The different industries represented among the board are the military, private investor, retail, communication, education, and banking. There are three committees, which board members can join: the executive, the audit, or the human resource committees.
B. Top Management.
Home Depot was started when Bernard Marcus (Chairman), Arthur Blank (President), and Ronald Brill (Chief Financial Official) were fired from Daylin, Inc.
