Entrepreneurial Strengths of the Company
Home Depot (HD) has several strengths that enhance success in the market. HD is innovative in handling operations in different stores and shipping problems (Home Depot, 2022). Furthermore, HD’s strength is built on the teamwork theory between employed men and contractors. Teamwork has enabled the company to deploy qualified and well-trained employees to guide customers and help each other (Parker, 2022). Leadership management is critical at HD Company in coordinating employees and promoting their welfare (Home Depot, 2022). This cohesive management and leadership creates unity and result in successful performances.
Elements of the Company’s Approach to Entrepreneurship and Value Creation
HD’s approach to entrepreneurship and value creation is based on the organization. The company leadership believes that store and team organization leads to successful organization goals and objectives (Home Depot, 2022). Secondly, the company is focused on working on innovation by deploying news to advance its operations in management technology. HD has remained persistent in its vision to keep alive values significant to the company (Home Depot, 2022). These elements have kept HD Company focused on creating value and business success in the market.
Company’s Action to Increase Entrepreneurial Value Creation
There are many ways HD can use to increase the company value, but it is more men and contractor oriented. However, HD’s main competitor Lowe’s, greatly focuses on women (Lowe’s 2022). HD has lower shelving, and employees focus on educating female customers instead of delivering services. However, Lowe’s focuses on beautifying homes instead of concentrating on repair. For this reason, the company needs to change its approach to delivering services to compete favorably with Lowe’s and create entrepreneurial value.
References
Home Depot. (2021). The home is where our story begins. The Home Depot. Web.
Lowe’s. (2022). Who we are. Lowe’s Corporate. Web.
Parker, B. (2022). Home Depot SWOT analysis (2022). Business Strategy Hub. Web.