Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

STRATEGIC MANAGEMENT THEORY & PRACTICE Case Study: Home Depot Case 3: Home Depot Bernard Marcus and Arthur Blank founded Home Depot after losing their jobs

image text in transcribed

image text in transcribed

image text in transcribed

image text in transcribed

STRATEGIC MANAGEMENT THEORY & PRACTICE Case Study: Home Depot

Case 3: Home Depot Bernard Marcus and Arthur Blank founded Home Depot after losing their jobs in the home improvement industry in 1978. Home Depot focused on the needs of the DIY market, specializing in building materials and lawn and garden equipment. Three stores were launched in the Atlanta area in 1979, and four stores in South Florida were added in 1981. The firm posted sales of $50 million that year and went public. By 1983, Home Depot had opened stores in Louisiana and Arizona with total sales exceeding $250 million. Home Depot expanded into California in 1985 and by the following year had amassed a total of 60 stores and sales of $1 billion. Home Depot continued to grow and entered the northeastern United States and Canada in subsequent years, reaching 500 stores by 1997. Home Depot added a direct-mail interest by acquiring mail-order firm National Blind & Wallpaper Factory and direct-marketer Maintenance Warehouse. Home Depot launched Villager's Hardware stores in New Jersey in 1999, a 40,000-square-foot outlet designed to compete with traditional hardware stores. The firm also began to add large appliances to many of its stores. In 2000, Marcus and Blank became cochairmen, and former General Electric (GE) executive Robert Nardelli was named president and CEO. Aggressive expansion continued in 2001 when Home Depot added another 200 stores and acuird Total Home a small home improvement chain in

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

An Introduction To Socio-Finance

Authors: Jørgen Vitting Andersen, Andrzej Nowak

2013th Edition

3642419437, 978-3642419430

More Books

Students also viewed these Finance questions

Question

6. Identify seven types of hidden histories.

Answered: 1 week ago

Question

What is the relationship between humans and nature?

Answered: 1 week ago