Competitive and Strategic Analysis Essay Example | Topics and Well Written Essays - 2500 words

Competitive and Strategic Analysis - Essay Example Answer 1(b) Home Depot is known for developing strategies based on the strategic management techniques and principles. Some of the important polices of Home Depot based on strategic management techniques are as follows: The product policies of the company are facilitated by merchandising transformation and development of portfolio strategy. These are triggered by innovation, value and assortment. The company has laid emphasis on interconnected retail strategy which provided seamless shopping opportunity to the customers. The sustainability integration system of Home Depot is a forum which reports measuring of the output produced and also highlights the wide range of sustainability options available for Home Depot (â€Å"Employee Self-Service  (ESS)  Welcome†). Answer 1(c) The mission of Home Depot is to provide excellent customer service by offering a diversified range of environment friendly innovative products and also advices customers on how to use the product to deriv e maximum advantages. Some of the important short and long term goals and objectives of Home Depot would be as follows: To bring an increase in the sales of the CFL light bulbs and the recharge batteries as they are easily recyclable. The company plans to increase the sales of the CFL bulbs from 1.6 to 3.0 million. The management of Home Depot plans to increase the sales growth by 2.0 to 2.5 percent in each store of each region. The major objective of this plan would be to increase the gross and operating margin expansion in each and every store. To increase the number of store layout by 2 percent in regions of Canada, America, Mexico and China and generate earnings more than 2.6 billion in each region during the tenure 2013 to 2014. Answer 2(a) The traditional roles of board of directors would be as follows: Active involvement and participation of the directors in decision making To check whether the accounting practices are being adhered according to the standards lay down by the accounting boards like International Financial Reporting Standard (IFRS) and International Accounting Standard Board (IASB). To ensure that the financial activities do comply with the Sarbanes Oxley act and other legal requirements. To be consulted in decision making related to matters like appointment of personnel, developing compensation system and also checking the work of the internal and external auditors (Fielding 110). Selecting the new personnel for board of directors (Fielding 200). Answer 2(b) Dealing with corporate governance issue requires the cooperation from the stakeholders, shareholders and the management. Corporate governance in Home Depot often deals with the frequent conflicts that arise in the meetings among the boards of directors and the management. The annual meetings often witness frequent conflicts that arise out of differences in opinion concerning managerial decision making. Presently, the management of Home Depot is trying to incorporate theories like sta keholder theory and Agency theory which focuses on the improvement in the relationship between boards of directors and the management. Home Depot is engaged in several community development activities which benefit the community, society and also increase the goodwill of the company. One of the most recent activities meant for the betterment for the entire