The Home Depot SWOT Analysis Article Example | Topics and Well Written Essays - 750 words

The Home Depot SWOT Analysis - Article Example This paper seeks to do a SWOT analysis of this giant specialty retailer by evaluating its strengths, weaknesses, opportunities and threats in order to make suggestions on how to keep the company growing and profitable. Home Depot has ensured continued success and lead in the home improvement industry due to various strengths which include: The home depot’s continued growth is as a result of continuously renewing and working on its culture aimed at producing good products, sustaining its employees and customers thus effectively maintaining its competitive edge in the retail industry. The Home Depot culture is focused on taking care of its employees by paying those modest wages and benefits, providing them with excellent and superior training and granting them opportunities for advancement. The employees are regarded as the most important people after the customers due to their role in interfacing with the customers (Marcus and Blank, 271) Home depot also provides their customers with value, loyalty and low pricing. Through the company’s focus in customer satisfaction, the company’s NPS, (Net Promoter Scores) has improved significantly allowing it to wrest a further market share from rival companies. Home Depot’s success is also attributed to its ability to form alliances with strategic partners. Through its partnerships with the industry’s leading manufactures it is able to deliver exclusive and innovative assortments such as to do-it-yourselfers and professional contractors alike, with combination of other brands like LG appliances. Home depot’s continued upgrading of its computerized systems and implementation of satellite communication increased its operational efficiency. This was evident as significant reduction in operational costs were realized thus supporting the overall growth of the company and better