Industry Overview Paper

1486 words - 6 pages

Home DepotRegardless of the industry, if something is produced it is more than likely desirable by individuals. Within any organization, there are steps that lead to success including, desire, investment, time and energy. This paper will introduce Home Depot with a brief history of the industry, retail sales, and a SWOTT analysis. This paper will also address the impact of real Gross Domestic Product (GDP), unemployment rate, inflation rate as measured by the consumer price index (CPI), Producer Price Index (PPI), and Personal Income.HistoryFor over 20 years Home Depot has been one of the leading suppliers in home building supplies. ". . .Bernie Marcus and Arthur Blank, forever changed the home improvement industry when they opened the first The Home Depot stores in Atlanta, Georgia on June 22, 1979" (Home Depot, 2003-2006, Para. 1). Their pioneering spirit had envisioned warehouses that supplied buyers with an array of choices to meet their home improvement needs. This dream has blossomed into a vibrant industry that encompasses 2005 stores in the United States, Canada, and Mexico. According to Home Depot "A new store opens on average every 48 hours" (Home Depot, history site, 2003-2006, para. 4).SWOTTA SWOTT analysis measures strengths, weaknesses, opportunities, threats, and trends. Marktline states that "Home Depot, Inc. is the world's largest home improvement retailer and the second largest retailer in the United States...(Marketline, 2005, Swott section, para. 1). In order for this company to stay ahead of the competition is due in part to the organization's strengths, weaknesses, and the utilization of a SWOTT analysis.The current strengths of Home Depot is that the company is large and diverse and a continually growing retailer. They also have a very successful business model as well as a wide range of name-brand products. Some of the weaknesses of the organization include the layout and appearance of stores. Home Depot has become a number one stop for home remodeling and construction for both private consumers and professionals. This is due in part to the do-it-yourself programs and networks found on television. This trend has created a surplus of customers for Home Depot. The use of the SWOTT allows the organization to make decisions that keep them profitable and number one in the industry.Retail SalesHome Depot offers a variety of products to appeal to consumers. "A typical Home Depot store stocks approximately 35,000 product items. Major product groups include building materials, lumber and millwork; plumbing, electrical and kitchen; hardware and seasonal, and paint, flooring and wall coverings" (Marketline, 2005, Business Description section, para. 3). Not to mention, services offered to meet the demands of customers that prefer others to install their wares.In January of 2005, the company reported earnings for retail sales totaling $73.1 billion. This was an increase in earnings reported from the year prior. A 16% increase in sales...

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