Final Strategic Plan – The Home Depot MBA 580

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Running head: FINAL STRATEGIC PLAN – THE HOME DEPOT Final Strategic Plan – The Home Depot University of Phoenix MBA 580 Charles Hooley June 1, 2009 Final Strategic Plan – The Home Depot Executive Summary Companies in today’s market need to think more than “product, placement, and promotion.” With the stressors, both internal and external on the company, they must think critically to ensure continuing operations. Many businesses explicitly and all implicitly adopt one or more generic strategies characterizing their competitive orientation in the marketplace. Low cost, differentiation, or focus strategies define the three fundamental options… Enlightened managers seek to create ways their firm possesses both low cost and differentiation competitive advantages as part of their overall generic strategy. They usually combine these capabilities with a comprehensive, general plan of major actions through which their firm intends to achieve its long-term objectives in a dynamic environment. Called the grand strategy, this statement of means indicates how the objectives are to be achieved… (Pearce and Robinson, 2004, p. 14). Home Depot is a successful company. In a short time, they have amassed sheer size and scale over the market growing to over 80 billion dollars in sales in less than 30 years. The purpose of this paper is to discuss the company’s history, values, and culture analyzing the current and future market needs developing a strategic plan focused on the company’s long-term objectives to realize opportunities for continued growth, expansion, and profitability. Company’s History From the very beginning, The Home Depot was something special; a large-scale hardware store with a family approach and interesting marketing concepts. The Home Depot was founded in 1978 by Bernie Marcus and Arthur Blank. Along with investment banker Ken

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