28 Apr Based on your assessment and the organizations strengths and weaknesses you identified in Wk 1, evaluate opportunities for that organization to add economic, social, and environmenta
Assess the external environment for the organization you researched in Wk 1.
Week 1 covers Home Depot.
Based on your assessment and the organization’s strengths and weaknesses you identified in Wk 1, evaluate opportunities for that organization to add economic, social, and environmental value.
Recommend an opportunity that best capitalizes on the organization’s valuable, rare, and hard-to-imitate resources; is least impacted by the organization’s weaknesses; and will take best advantage of the external environment.
Create a Microsoft® PowerPoint® presentation to present your assessment, evaluation, and recommendation. Include the following sections in your presentation:
- A cover slide
- An agenda
- A description of the organization (1 slide with speaker’s notes)
- A summary of the strengths and weaknesses of the organization (2 slides with speaker’s notes)
- Key aspects of your assessment of the external environment that present opportunities for adding value, such as trends, unmet needs, unsolved problems, under-served consumer groups, etc. (2-3 slides with speaker’s notes)
- An evaluation of opportunities to add economic value (1 slide with speaker’s notes)
- An evaluation of opportunities to add social value (1 slide with speaker’s notes)
- An evaluation of opportunities to add environmental value (1 slide with speaker’s notes). Note: Some opportunities may appear on more than 1 slide. For example, you may find an opportunity that adds economic, social, and environmental value.
- A recommended opportunity to pursue first, with a rationale that shows how the opportunity capitalizes on the organization’s valuable, rare, and hard-to-imitate resources; is not much impacted by the organization’s weaknesses; and takes advantage of the external environment (1 slide, with speaker’s notes)
- A conclusion
- References
Cite references to support your assignment.
Format your citations according to APA guidelines.
MGT/576 v1
Title
ABC/123 vX
Page 2 of 2
Entrepreneurial Strengths and Actions to Increase Value Creation
Complete the table below, assessing the company’s strengths and weaknesses and describing the company’s approach to innovation.
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Company name: Home Depot |
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Company website URL: https://www.homedepot.com/ |
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3 to 5 entrepreneurial strengths of the company (90 – 175 words) · Leadership Being a past employee of Home Depot, particular of their strengths would be their leadership. Home Depot held up the whole time the pandemic and controlled it to stay afloat during a recession. Home Depot's CEO (Chief Executive Officers), Craig A. Manear show skillful leadership all the while a tough economic circumstances. · Diversification: Home Depot is a powerful brand going with excellent recognition and notoriety, but to upgrade its retail share, the business should transform its contributions within financial means. Instead of concentrating alone on a home upgrade, Home Depot can implement a multifariousness approach by venturing into the furniture and room decoration results and offering services to the family constituency by presenting them with Complete home interior design and furniture results. By doing this they will be able to have or do expand their brand contributions too. · Largest Retailer – Home Depot is the biggest merchant of home improvement production and maintenance. Having the best benefits of savings of scale than some solitary of its challengers in the globe and has a profusion of collateral to defeat its adversaries in addition to preserving its overall retail share. · Widest Variety – Home Depot offers its consumers a broad type of merchandise and maintenances to select from namely construction materials, home development merchandise, yard trimming equipment, and so forth counting home decoration installation maintenances and lease services for accessories.
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Major elements of the company’s approach to entrepreneurship and value creation (175 words) Home Depot lives by "Our Values". It's believed that directions guide their behavior for each day. These ethics control them to set sights on the uniform target, to build a forceful unit, and give the help purchasers depend on from associates. The Value Wheel has eight values Home Depot relies on and follows. 1. Taking Care of Our People – take care of each other. 2. Respect for all People – treat people like we want to be treated. From team members to our customers. 3. Do the Right Thing – strive to do the right thing. All decisions matter. 4. Building Strong Relationships – this is based on trust and honesty. Listen and respond to the needs of associates, partners, and customers. 5. Giving Back – ready to always help the community. 6. Excellent Customer Service – help our customers in many ways. Strive to create a friendly environment where customers feel they can take on any project. 7. Creating Shareholder Value – aim to be the best company. 8. Entrepreneurial Spirit – encourage associates to be innovative and creative.
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1 action the company could take to increase entrepreneurial value creation Home Depot has applied several amount accommodations in the way that buying online pick up in store (BOPIS), buying an online ship to store (BOSS), and buying online distribution from the store, to serve the consumers better for better sympathetic, BOPIS is organizing everything specifically transported within the store. BOSS method to buy everything from Home Depot's Web page and send to the store. Home Depot has combined its outside force to better aid the needs of its pro-customers besides owning improved accessories for its associates to supply the needs of clients. Home Depot has beneficial results by dawdling salespeople back on the network to sell to builders. |
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References:
Home Depot SWOT Analysis (2023). (2021, July 31). https://bstrategyhub.com/home-depot-swot-analysis/ Home Depot: Strengths, Weaknesses, Opportunities, and Threats. (2015). https://www.forbes.com/sites/greatspeculations/2015/10/06/home-depot-strengths-weaknesses-opportunities-and-threats/?sh=14323e0b6fac Built From Scratch. (n.d.). The Home Depot. https://corporate.homedepot.com/page/our-values
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Copyright 2020 by University of Phoenix. All rights reserved.
Copyright 2019 by University of Phoenix. All rights reserved.
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