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Levels Of Planning Paper: The Home Depot

1737 words - 7 pages

AbstractThere are multiple levels of planning and the strengths, weakness, threats and trends have each resided within each corporation that exists. The Home Depot has stood the test of time and has outlined a mission for its company to improve and to attain the goals that the company has set.There are various factors that influence each level of the planning function and have been demonstrated with several corporations nationwide. The Home Depot is a prime example of how these influences have affected the company and their customers. The strengths, weaknesses and threats are all aspects in which the Home Depot management team has prepared for in their business planning.StrengthsHome Depot ...view middle of the document...

The company also offers a diversified product line at competitive prices.Distinctive product rangeIn a typical Home Depot store, the customers can find about 50,000 products including national brands and exclusive items, across a wide range of departments including kitchen and bathroom cabinets, countertops, powder tools, storage cabinets, paint, hands tools, water heaters, lawn and garden supplies, lawn care products, roofing products, lumber products, lighting and much more.Capital expenditure and prioritiesThe executive management of Home Depot recognizes the importance of investing in customer satisfaction and 43% of the 2004 capital expenditure budget was used to upgrade the information system with opening of self-check out with consequent reduction of one cashier which becomes available to help the customers, also the older stores will be remodeling in the next three years.WeaknessesIn order to run a successful company, one must analyze the possible weaknesses facing their business and make an effort to effectively address these issues. Looking at The Home Depot, we see a great example of this design. There are many weaknesses or obstacles that The Home Depot must face in order to be productive.Their first concern is competition. The Home Depot has a fellow nationwide rival in Lowe's. These companies both offer the same type of stores, products and services to their customers at competitive prices. A smart, professional business needs to look at their competition because this is a weakness in their business potential.Also involved is the necessity to hire and/or train specialized employees. In order to create the customer service and product knowledge the public demands, The Home Depot needs to have these vital employees. With a "do-it-yourself" warehouse that The Home Depot is running, people are going to have many questions with their projects. The need to be able to ask questions of someone, who knows the ins-and-outs of how to accomplish these tasks are important to the customer. The public needs to be able to trust your employees' advice for their project needs. In order to obtain this, The Home Depot would need to hire competent employees, possibly at higher salaries.Another weakness that The Home Depot must be able to handle is catering their product region by region. Since they operate nation wide, they need to gear each region with the products those consumers would need in that area. They obviously would not want to be selling snow shovels in Florida or air conditioners in Alaska. This creates a lot of research that needs be done on the part of The Home Depot, and the hiring of extra employees for this task.Finally, liabilities with deliveries and installations can be a weakness. The Home Depot would need to look into insurance for possible problems that could arise. Having the ability to offer deliveries and installations is a great feature to give to customers, but it could be a weakness to the company.Weaknesses are...

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