...Discuss how the leadership at Home Depot intended to use its organizational talent to gain a competitive advantage in the Do It Yourself industry. The best way for Home Depot to gain a competitive advantage and to maintain it in today’s business situations is to carry out and transform so fast that they bring forth a cycle of temporary competitive advantages. This can be extremely difficult to accomplish as it requires a grouping of organization policies, practices, and designs. It is specifically because it is not easy to make organizations that change rapidly and effortlessly that being able to do so is an influential and sustainable foundation of competitive advantage. Its one thing to know talent is significant and it’s another to make talent a foundation of competitive advantage. It requires maintaining the right talent and organizing and managing it efficiently (Sears, 2003). Maintaining the right talent is not easy, but Home Depot seems to get it done by dedicating resources to it. Discuss the key channels that Home Depot developed for recruiting talent. The key channels that Home Depot developed for recruiting talent has been built to meet the retail hiring needs and observes some of the leadership development programs that have been formed to meet the leadership talent needs of the organization. Home Depot works hard to attract top talent and then commits to supporting that talent while they prepare for upcoming leadership roles. They include: • Embedding...
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...Assignment #1 They can do it! You can help! A look at talent Practices at the Home Depot Kashoray Owens Dr. Lila L. Jordan Hrm 532 July 18, 2010 1. Discuss how the leadership at home depot intended to use its organizational talent to gain a competitive advantage in the do it yourself industry? The home depot is the world`s second largest retailer. With revenues in excess of $90 billion, it has the distinction of being the number one home improvement retailer in the world. On average, the home depot places approximately 17,000 leaders into positions each year. This includes placements as first- line supervisors and continues all the way to placing executive vice presidents. Notably, more than 80 percent of leadership placements are internal promotions, and the vast majority of those placements are into key frontline management roles interfacing directly with customers every day. In addition to placing a large number of leaders, number of hourly retail associates every year. It has created multiple and diverse channels of entry into the organization and developed dedicated programs that build leadership and functional skills. 2. Discuss the key channels that home depot developed for recruiting talent? Early on, the home depot recognized that talent was the key competitive differentiator in a rapidly growing company that built it`s reputation and business case on knowledgeable associates...
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...Running Head: Home Depot Talent Practices at Home Depot Shaniekia Moore Strayer University Dr. Sheila Letica Talent Management HRM 532 January 20, 2011 Lockwood, (2006) determine that in a competitive marketplace, the talent management process is one of the most important driver for organizational success. Home Depot maintains its’ competitive edge by using their organizational talent in the Do It Yourself industry. This is achieved by having an exemplary organizational structure of values, principles, and beliefs. In achieving that status, Home Depot’s emphasized the importance of employees’ knowledge of the business and their enthusiasm, (Grow, Brady & Arndt, 2006) and hiring of dependable and knowable older workers (Silzer, & Dowell, 2010). In addition to be effective in maintaining that competitive edge Home Depot has various programs that focused on a wide array of leadership development. They encouraged cross-functionality across the company (Gandossy and Verma, 2005), groomed internal talent to allow for peer tutoring from other executives (Gandossy and Verma, 2005) underscored the importance of human capital and engaged store associates in creating a superior customer experience (Silzer, & Dowell, 2010). The key channels that Home Depot developed for recruiting talent, is focusing its recruiting efforts on older workers by partnering with the senior citizens group, American Association of Retired Persons (AARP), (Tucker, Kao, and Verma...
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...They Can Do It! You Can Help! Since Home Depot opened their doors in 1979, they set out to lead the market in excellent customer service. Their motto of “ whatever it takes” shows their commitment to differentiate themselves in that field (website, 2011). And it certainly seems to have helped them lead the market and continue to grow their business beyond U.S. borders and be competitive on a global scale. It is a part of what founders Bernie Marcus and Arthur Blank deem the “Three Legged Stool” of their overall business strategy (Darrow, 1994, para. 8). The first leg is to provide the best selection and quantity of home building supplies to satisfy as many do-it-yourself customers as possible. The second leg of the stool is to offer their products at the most competitive price compared to the rest of the market so there is no reason to shop anywhere but Home Depot. These first two legs are substantial components of their competitive strategy and have helped them edge out most of the competition. From the start, however, the organization’s founders knew that that having quality, knowledgeable employees interfacing with their customers was one of the most crucial investments in which they should invest. The third leg, therefore, is to provide the best service in the industry (Darrow, 1994, para. 12). All of the legs of Home Depot’s strategic make-up are important and provide stability to their competitive advantage over the rest of the...
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...Strayer University 11 They Can Do It! You Can Help! Home Depot Victoria James-Smith Talent Management-HRM532 Dr. Cecile Massé, PhD They Can Do It! You Can Help! A Look At Talent Practices At The Home Depot Abstract In today's global economy, companies must continually invest in talent management of its personnel. In the role of being a business partner, HR leaders must work closely with management to attract, hire, develop and retain talent. Yet the shortage of skills today presents various issues and challenges both socio-economic and cultural as talent crosses borders and its prospects are fewer. Thus, in view of the workforce changes with issues such as shifting demographics, global supply chains, the aging workforce and increasing global mobility, organization culture must shift to become forward-looking organizations. That is organizations which must rethink their approach to talent management to best attract talent. By doing so, this will result in organizations being positively positioned to succeed in a highly competitive marketplace. In addition, organizational culture, employee engagement and leadership development have a significant impact on talent retention. Taking these factors into consideration, what will develop will be an integrated approach to talent management which offers a pathway toward sustaining achievable, outstanding business results. Competitive Advantage Home Depot realized that in order to have and to maintain a competitive advantage...
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...Assignment 1 HRM532 Date: October 18, 2011 Talent Practices at The Home Depot Home Depot’s Plan Home Depot had several intentions in regarding the use of its organizational talent to gain a competitive advantage in the Do It Yourself Industry. The first of these is to ingrain the importance of corporate success through human capital. In the current economic environment, corporate success and growth; even survival, is dependent on the firm's ability to create employees that are motivated, skilled, and committed. The concept of how important human capital is to corporate success can be summed up with a quote from Nobel Prize-winning economist Gary S. Becker says that “The basic resource in any company is the people. The most successful companies and the most successful countries will be those that manage human capital in the most effective and efficient manner” (Brocaglia, n.d.). The Home Depot embraced this idea when the company considered its organizational talent as a competitive edge. The second of these intentions is first-class customer service through engaged employees. Employees are the first line of defense and influence when it comes to a firm's level of achievement in customer service. Customer service and satisfaction become the competitive advantage that allows for retaining customers longer even through severe price competition; and that satisfaction should be paramount through all stages of customer interaction (IBM, 2007). By placing such...
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...Paper Diversity is one of the most important things at The Home Depot. It is the catalyst for innovative thinking, entrepreneurial spirit and new ways of building our communities. To this end The Home Depot uses creativity, fresh thinking, and the experiences of people from different cultures and beliefs. The Home Depot believes that talent comes in many different forms and they celebrate each and every talent, because every talent is cultivated and is considered to be the foundation of our culture in America. At The Home Depot, the executive management team is responsible for diversity and creates a culture that welcomes every associate. The company encourages people from diverse backgrounds in all levels of management, and managers are accountable for attracting diverse candidates. The Home Depot realizes that as they continue to grow locally and globally, they will increasingly need for their associates to continue contributing to their efforts. The Home Depot values diversity because it offers a competitive advantage, makes the company a better place to work; and they can understand better their diverse customers’ needs in this way. The Home Depot gives customers better service and deliver. At The Home Depot, Managers are committed to creating a diverse work environment and in these circumstances all employees are included, respected, supported and encouraged associates to do the best work. The Home Depot recognizes with pride the uniqueness of each associate. The company...
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...Q. 1. Using the library, course materials, and other Web resources, find some examples of international companies in the United States that demonstrate a global management approach to their operations. Provide some examples of practices or strategies that demonstrate this approach. A. 1. One international company in the United States that demonstrates a global management approach to their operations is Wal-Mart. Some specific [practices or strategies that demonstrate their approach is their excellence in customer service, their supply chain management, their equal opportunity employment and their ability to keep process low. (Masters, 2011) Another international company in the United States that demonstrates a global management approach to their operations is Home Depot. Home- Depot uses practices and strategies such as talent management, and their ability to keep prices low as well to demonstrate their global management to their operations. (Lockwood, 2011) Proctor and Gamble also utilizes talent management to demonstrate their global management approach. They also use total quality management techniques and strategies to emphasize their global management approach to their operations as well. (Lockwood, 2011) Q. 2. Why has it become so important for companies to become competitive in the global business environment? A. 2. In today’s global business environment, it has become very important for businesses to become competitive....
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...Primary Competitor Analysis Competitor Name: The Home Depot, Inc Headquarters: Atlanta (Cobb County), Georgia Locations: 2,200 Retail Stores in U.S., Canada, and Mexico Annual Revenue: 2013-$74,754,000,000 2014-$78,812,000,000 2015-$83,176,000,000 Slogan/Motto: “More saving. More doing.” Primary Products: -Building Materials (40,000 different kinds) -Tools/Hardware -Appliances (kitchen/bath/décor) -Lawn and Garden Products -Electrical, Plumbing, Flooring, & Heating/Cooling Supplies Primary Services: -Home Depot Home Services (national installation service with pre-screened independent contractors) -Free How-To Clinics -Kids Workshops Primary Target Market: The Home Depot’s primary target markets are the do-it-yourself customer, the do-it-for-me customer, and professionals. This mainly includes Generation Y white, Hispanic, and black males, across the United States with pretty much any education level. Distribution Strategy: Network of distribution centers for store replenishment and ...
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...with the existing problem. HR professionals over the world know that their toughest job is recruiting and retaining top-notch employees for their companies. With unemployment at its current rate, expanding businesses search for qualified workers like big-game hunters stalking the most elusive prey. Compensation plans and benefit plans are two compensation packages companies are using to invest in its employees. To assist Riordan Manufacturing in changing its sales process, Team D has chose the following companies to use as a benchmark: Liz Claiborne, QUALCOMM, Home Depot, Hertz, Coke Cola, Lafarge, Ford and The Container Store. Team D will then analyze each company by providing key concepts such as designing the elements of an effective employee relations program, create a career development planning model that will incorporate attention to key development success factors, evaluate compensation and motivation practices as they relate to organizational strategy, and discuss the impact of ethics on the determination of compensation and rewards systems. Effective Employee Relations Programs. "Success requires satisfied, loyal employees," as stated by Dreher and Dougherty (2001). Employee performance increases when employees are happy and satisfied not only in what jobs they perform but with the company they are working for, the atmosphere in which the work is done and how they are treated overall. An effective employee relations program needs include answers to the following:...
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... HR587, May 2010 Session Table of Contents Executive Summary…………………………………………………………………….…………………… 2 Assessment/Diagnosis………………………………………….……………..………………….. 3 Analysis of the Change Strategy…………………………………………………………………………….…..………… 4 Results/Outcomes………………………………………….……………………,………………. 7 Evaluation of the Effort…………………………………………………………………………………….……….. 9 References………………………………………………………………………...…………….. 13 Appendix A……………………………...…………………………………………………………………. 14 Appendix B……………………………….……………………………………………….……………….. 15 Executive Summary Home Depot was founded in 1978 by Bernie Marcus and Arthur Blank. From the start, associates were able to offer the best customer service in the industry, guiding customers through projects such as laying tile, changing a fill valve or handling a power tool. Not only did store associates undergo rigorous product knowledge training, but they also began offering lessons so customers could learn how to do it themselves. Home Depot is still guided today by those values established by its founders, excellent customer service, taking care of people, entrepreneurial spirit, respect for all people, building strong relationships, doing the right thing, giving back to communities, and creating shareholder value. (Corporate Website, 2003). I will be concentrating on the Human Resource department of the organization. They restructured their HR department by cutting down their HR functions believing that it they could create jobs in other sections of the company. ...
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...THE HOME DEPOT OVERVIEW Bernie Marcus, Ken Langone and Pat Ferrah created the Home Depot in 1978. Their main vision was “One – Stop shopping for do it your self”. The Home Depot opens its door with two large stores located in Atlanta Georgia in 1979. With operations focus on customer services, The Home Depot provide their clients with highly trained personnel, leading those customers with quality services through different kinds of constructions projects. Their philosophy of customer services “whatever it takes” means purpose on develop customer relationship instead a simple sales transaction. Since its foundation in 1978, The Home Depot has been known as a story of growth; recognized as the fastest growing retailer in United State. In 1981 the company went public and by 1984 moves to the New York Exchange Commission. This kind of financial movement allows the opening of international operations. By 1984 Home Depot was opening operation in Canada by the acquisition of the company called Aiken Heads. After Canada, Home Depot expansion took place with Mexico in 2001 and China in 2006. Through the combination of national brands and products The Home Depot sets the standard for innovate merchandise for do it yourself customers and professional contractors. MARKET SYSTEMS AND LEGAL SYSTEMS With operations in different countries around the world, Home Depot needs to be aware about the different market and legal system that...
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...The Home Depot Values The Home Depot’s values guide the beliefs and actions of all associates on a daily basis. Our values are the fabric of the Company’s unique culture and are central to our success. In fact, they are our competitive advantage in the marketplace. Associate pride and our “orangeblooded” entrepreneurial spirit are distinctive hallmarks of our culture. 1. Taking care of our people: The key to our success is treating people well. We do this by encouraging associates to speak up and take risks, by recognizing and rewarding good performance and by leading and developing people so they may grow. 2. Giving back to our communities: An important part of the fabric of The Home Depot is giving our time, talents, energy and resources to worthwhile causes in our communities and society. 3. Doing the right thing: We exercise good judgment by "doing the right thing" instead of just "doing things right." We strive to understand the impact of our decisions, and we accept responsibility for our actions. 4. Excellent customer service: Along with our quality products, service, price and selection, we must go the extra mile to give customers knowledgeable advice about merchandise and to help them use those products to their maximum benefit. 5. Creating shareholder value: The investors who provide the capital necessary to allow our company to grow need and expect a return on their investment. We are committed to providing it. 6. Building strong...
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...Strategic Plan; Home Depot Strategic planning is an organizational management activity that is used to set priorities, focus energy and resources, strengthen operations, and ensure that employees and other participants are working toward common goals. It is a disciplined effort that produces essential decisions and actions that shapes and guides what an organization is, who it serves, what it does, and why it does it. Strategic planning focuses on the future of the company. Strategic planning is building a plan that provides guidance in fulfilling a mission with maximum efficiency and impact for a company. Basically it is the Who, What, When, Where, How and How Much aspect to planning. “A company collectively tries to agree on where it is going (its vision) and how it’s going to get there (its strategy)” (Abraham, 2012). Strategic planning is a very important part of having a successful organization. Without it, the employees will not know what to do or why they are doing it and over time the company will not succeed. In order for the plan to be effective and useful, it should articulate specific goals and describe the action steps and resources needed to accomplish them. In other words, Strategic Planning is a regimented effort to analyze certain things like: the objectives of the organization, why it’s doing that and what is it going to do in the changing environment or future. I have selected Home Depot to analyze and prepare a strategic plan to grow the organization...
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...physical security, digital security, security measures, definition, tools, resources Cyber Security: Physical and Digital Security Measures Introduction In spite of the increasingly prevalent use of technology in today’s digital world, many organizations find the concept of cyber security to be somewhat of a mystery. As a result of a lack of knowledge or an inability to appropriately apply that knowledge, companies like Target, Home Depot, and even Sony, among others, find themselves faced with security nightmares that could have just as easily been avoided (Yang & Jayakumar, 2014; Home Depot, 2014; Steinberg, 2014). In order to be able to approach cyber security properly, an organization must both have the knowledge necessary to implement a system designed to secure their digitized data and must have the ability to apply that knowledge within the constructs of their systems in order to ensure that a breach does not occur. In order to achieve good cyber security a mix of technical tools coupled with a superb training program and top level talent is necessary, but it is important to remember that no matter how good the system put in place, no system is ever 100% fully secure. Through an understanding of physical and digital security measures and a firm grasp of the concept of cyber security, it will be...
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