When it comes to do-it-yourself home improvement stores, few retailers compare to the mega-success of The Home Depot. The very first store was opened in 1979, in Atlanta, Georgia. And ever since, Home Depot has secured its place as a dominant force in the hardware and home improvement markets.
The founders of Home Depot, Bernie Marcus and Arthur Blank, later admitted that they had no idea how much of a game-changer their stores would be.
Back in 1979, there were no other hardware stores that even came close to the 60,000 square ft. warehouse-style Home Depot store. With over 25,000 products in stock and a highly trained staff, there was literally no comparison.
Nearly 50 years later, now, The Home Depot is one of the most successful companies in the hardware, home improvement, and general retail industries. The corporation has grown from that single store in 1979 to more than 2,200 stores on the North American continent, and more than 400,000 associates throughout the company.
From the very beginning, The Home Depot has made its mission very clear. Along with a powerful vision for the future of their business and solid core values, The Home Depot has shown a commitment to becoming the go-to spot for DIY customers and professional contractors.
And it’s safe to say the company is in a class by itself. Let’s examine the incredible stability of this mega-corporation by taking a closer look at the mission, vision, and core values that serve as the foundation for everything they do.
The Home Depot Mission Statement
As one might expect, Home Depot’s mission statement revolves around its customers. And you don’t get to be in a position like Home Depot without providing great service to your customers.
While you may be hard-pressed to find a direct mission statement on the Home Depot corporate website, you can read it on virtually every page.
This direct quote from their corporate website serves to illustrate the no-nonsense way in which The Home Depot does business:
“…we aspire to excel in service – to our customers, associates, communities and shareholders. That’s what leadership means to us. That’s The Home Depot difference.”
This simple but effective statement goes to show that the leadership at The Home Depot has one thing on their minds: service. The original idea for The Home Depot has always centered around the notion of providing the best customer service.
And it’s not just about providing the highest quality of products. The Home Depot prides itself in offering expert knowledge to its customers in addition to quality products and services.
In fact, this was one of the main things that set The Home Depot apart from its competition. Customers could come to The Home Depot and take advantage of associates that could teach them everything they needed to know.
From the basic operation of power tools to expert instruction in skills like laying tile, The Home Depot’s associates could provide customers with valuable information for virtually any home improvement project.
Today, the store offers a variety of DIY clinics, customer workshops and even one-on-one training sessions.
The Home Depot has a clear mission of service and a “whatever it takes” philosophy. They may have made a name for themselves in the home improvement business, but it would be more accurate to say they are, first and foremost, in the business of customer service.
The Home Depot Corporate Vision
The corporate vision for The Home Depot looks to the future, not only to continue running the company profitably but to work find a balance that allows for the prosperity of everyone involved.
The company’s vision is summed up wonderfully in this paragraph that lays out their idea of corporate responsibility:
“When customers shop with The Home Depot, they invite us into their homes and businesses. We are grateful for their trust and understand the responsibility that comes with it. That’s why we are committed to doing things better every day… It is our hope that we will continue to empower our customers, business, and planet for many years to come.”
The Home Depot centers its vision for the future around a commitment to “doing things better everyday.” The overall plan is to define the company’s impact on society as a result of three primary goals:
1. Operate Sustainably—The Home Depot recognizes the responsibility of the corporations of the world to do their part to protect the planet for future generations. The company is committed to protecting the climate, sourcing responsibly and reducing their overall footprint and negative impact on the environment.
2. Focus on People—The Home Depot considers people to be the company’s greatest asset. Whether it be their associates, or the people of the communities they serve, The Home Depot actively participates in empowering future generations to work together for a more prosperous future.
3. Strengthen Communities—In addition to their commitments to serving the environment and empowering people, The Home Depot believes in doing their part to lift up the local communities they serve. The company actively promotes programs that honor veterans and their families, provide relief in time of natural disasters, and invest in future jobs.
By creating an environment of service, The Home Depot aims to sustain the planet for all future generations and promote an attitude of cooperation and togetherness. This strong sense of corporate responsibility is at the very foundation for the company’s vision for the future.
The Home Depot Core values
The Home Depot is clearly in favor of lifting up people and communities for the greater good. Its mission and vision for the way the company operates would not be possible without a commitment to the underlying values that promote a sense of respect and responsibility.
On their website, The Home Depot represents their core values with a “Values Wheel.” This wheel outlines eight fundamental codes of conduct that the company operates by.
1. Taking Care of Our People
It’s obvious that The Home Depot cares about people. And this caring nature starts with promoting an environment of mutual respect among associates. The company encourages its employees to speak up and actively participate in developing an attitude of leadership and growth.
2. Respect for All People
The Home Depot believes in a principle of unity through diversity. It is important to the company to lead by example and create a positive environment for growth and respect among its own associates and the communities they serve.
3. Doing the Right Thing
The incredible sense of corporate responsibility projected by The Home Depot no doubt extends from their inherent drive to do the right thing. The company understands the potential impact of all of its actions and considers them carefully.
4. Building Strong Relationships
It is important that The Home Depot builds relationships of trust and honesty in order to fulfill its primary mission of customer service. And in treating all associates, customers, vendors, and communities equally, The Home Depot nurtures strong relationships built on integrity.
5. Giving Back
By embracing an attitude of giving back to their communities and customers, The Home Depot sends a message of support. The company realizes that it takes an attitude of cooperation and generosity to strengthen communities and improve the quality of life for everyone on the planet.
6. Excellent Customer Service
This value should come at no surprise. The Home Depot’s primary mission is one of customer service. From providing the highest quality products to expert advice and training, The Home Depot is committed to finding every opportunity to better serve their customers.
7. Creating Shareholder Value
At the end of the day, the company has enormous respect for the investors who believe in The Home Depot. Each investor, no matter how large or small, plays a role in supporting the overall mission and vision of the company. That’s why The Home Depot is adamant about providing a healthy return for its shareholders.
8. Entrepreneurial Spirit
In business, the health of a company depends on continued growth and innovation. The Home Depot actively encourages an attitude of entrepreneurship. From the floor associate who interacts directly with customers to the executive leaders, the company welcomes all input that supports their mission of service.
Conclusion
The Home Depot is truly an example of strength through leadership. The overall mission of providing excellent customer service has driven the company to become an innovator in the home improvement and retail industries.
It is clear that their strong sense of corporate responsibility and core values continue to guide the company in the right direction. And in doing so, puts them in a position to work to provide a bright future for everyone involved.
From the championed associate to its customers and community members, The Home Depot promotes an environment of trust and honesty that will serve to sustain the company and the planet for years to come.