Business statement Home Depot’s Mission Statement Management Essay

Home Depot’s Mission Statement
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Home Depot’s Mission Statement
The Home Depot’s mission statement specifies the company’s business activities and strategic direction. The company was established in 1978 and it has emerged to be a leader in home improvement retail store chain in USA. From the company’s mission statement, it is clear that the company focuses on providing quality products and services to customers at competitive prices. The organization’s market share is a clear indication. Home Depot’s mission statement states that “to provide the highest level of service, the broadest selection of products, and the most competitive prices.” From this mission statement, three elements emerge; high quality service, broad product portfolio and competitive prices. These elements demonstrate the quality of the mission statement. The mission focuses on satisfying the needs of its customers by providing quality services and a broad category of products to choose from at competitive prices. Therefore, the focus is on customer needs and not the product. However, although the mission focuses on the satisfaction of customer needs rather than the product, it does not state the customers it is trying to satisfy.
Home Depot’s mission statement is clear on how it will serve its customers (by providing them with broad categories of high quality services and products at pocket friendly prices). Based on this, the mission statement fits the current market environment which is more competitive with dynamic customer needs. Therefore, providing a broad category of products and services at competitive prices gives the company a competitive advantage in the market. Moreover, this makes it focus on its core values which excellent customer service, taking care of its people and others. Having aligned its mission statement to its core competencies makes it realistic.
Another aspect that raises concerns is the shortness, sharpness and memorability of the mission statement. Long mission statements distort their focus and are difficult to memorize. In that light, Home Depot’s mission statement is short, focused and easy to memorize. Therefore, it is clear and understandable. Based on the above review, it can be argued that the firm’s mission statement states that it wants to be remembered as a company that provi...