StudentShare
Contact Us
Sign In / Sign Up for FREE
Search
Go to advanced search...

Strategic Audit For Lowes - Essay Example

Cite this document
Summary
Founded in 1946 by H. Carl Buchan, the company was initially a small retailer, selling bathroom products and even those that are not related to the households. Lowe's sooner became public in 1961 and this time having contracts and deals with people related to house building as it had started taking off in U.S…
Download full paper File format: .doc, available for editing
GRAB THE BEST PAPER92.8% of users find it useful
Strategic Audit For Lowes
Read Text Preview

Extract of sample "Strategic Audit For Lowes"

Download file to see previous pages

Back in 1962, the company had got only 15 stores and sooner the number kept increasing and so as the number of states. Today, the company is having more than 1250 stores in 49 states across U.S. Last year's sales were $43.2 Billion and the company employees are over 185,000 people. The future goals of Lowe's are simply to delight more and more of population by providing them with a luxury to feel. Lowe's uses the latest technology to assist customers and provide solutions for their home improvement projects.

The majority of customers are retail customers (Do It Yourself) who are individuals buying Lowe's products, however there is a considerable amount of commercial customers as well, such as professional house builders, contractors and architects etc. The company is strategically identifying places to enter, there is a lot of gap in the market and Lowe's has got the immediate focus on filling the existing gaps in the society and to move itself from number 2 spot to number 1. The company has targeted states where the population is more than 500,000 and it is still trying to increase the number of stores by 16% a year.

Lowe's is currently expanding to new markets across the U.S, also targeting metropolitan cities and recently opened new stores in metropolitan cities like New York and Chicago. . o the strategies the company is using are in relation to the market growth and expansion which exactly is their objective apart from serving the people at their homes. The company's vision statement says, "We will provide customer-valued solutions with the best prices, products and services to make Lowe's the first choice for home improvement"(vision statement).

Policies:Lowe's doesn'tjust offer the tools to help you create your dream home. We're helping lay the foundation for a better place to live. As one of the world's leading retailers, we realize everything we do impact the people and environment around us. That's whywe're committed to helping communities grow stronger. By investing in people and communities, promoting measures that protect the environment and providing opportunity in the workplace, Lowe's is raising the bar in every aspect of the way we conduct our business.

To us, the best way to do business is by being a good neighbor.In the company's laws and regulations part from the employee's view point, it has been clearly stated that, Lowe's values its reputation for complying with applicable governmental laws, rules and regulations in the conduct of its business. Therefore, every Employee, while acting on behalf of the company, shall comply with all applicable governmental laws, rules and regulations, and should avoid engaging in any conduct that, even though legally permissible, is inconsistent with the ethical principles to which Lowe's subscribes.

If there is any uncertainty about what is required or is prohibited by law or by regulations adopted by federal, state or local government agencies, Employees should seek guidance from the company's General Counsel.Strategic Managers Board Of Directors:The company has got a list of 11 board of

...Download file to see next pages Read More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Strategic Audit For Lowes Essay Example | Topics and Well Written Essays - 3000 words”, n.d.)
Strategic Audit For Lowes Essay Example | Topics and Well Written Essays - 3000 words. Retrieved from https://studentshare.org/miscellaneous/1502192-strategic-audit-for-lowes
(Strategic Audit For Lowes Essay Example | Topics and Well Written Essays - 3000 Words)
Strategic Audit For Lowes Essay Example | Topics and Well Written Essays - 3000 Words. https://studentshare.org/miscellaneous/1502192-strategic-audit-for-lowes.
“Strategic Audit For Lowes Essay Example | Topics and Well Written Essays - 3000 Words”, n.d. https://studentshare.org/miscellaneous/1502192-strategic-audit-for-lowes.
  • Cited: 0 times

CHECK THESE SAMPLES OF Strategic Audit For Lowes

Improvement of the Education of Pre-Service

audit Report al Affiliation) Introduction.... The paper discusses the audit report on the standards and techniques that the government needs to improve performance of these subjects.... The project will take developmental and long-term approach to math and science issues ("audit report" 2008).... Subsequently, it creates lower representation in science and math ("audit report" 2009).... However, it is faced by risk of trade union that is volatile especially around after working hours of teachers ("audit report" 2004)....
3 Pages (750 words) Assignment

Criteria audits in health care

The research paper investigates the areas of criteria audit implementation in the pre and post surgery care.... The criteria audit evaluates the prognosis of the surgeries, the true necessity of the surgery and the staffing functions related to maintenance of appropriate health records.... hellip; The study of criteria audit is based on cholecystectomy, which throws a light on the recommendations that are to be accepted to improve upon from the present status of health care provisions....
5 Pages (1250 words) Essay

Professional Development Article

The fundamental purpose of the Pharma Industry audit is to ask the question, “Do you create shareholder value (with your strategies and tactics) or do you destroy it?... The Pharma Industry audit is much more unique than other well-known, independent auditing firms as it deals with much more than simple accounting issues and financial numbers.... The critical issue in this article is that many companies are not addressing the macroeconomic factors that cause potential problems for producing shareholder value, therefore they are using improper business strategy and require the need of external auditing to help them see the larger picture in terms of strategic philosophy....
5 Pages (1250 words) Essay

A Strategic Audit of Lowes Inc

All of the… s are a part of the governance committee, four are a member of their executive committee, five are members of their compensation committee, five are members of their audit committee. i.... Providing convenient, one-stop shopping by providing contractor packs, which are used items contractors can buy in bulk and a special website (LowesForPros....
7 Pages (1750 words) Term Paper

Global Information Systems: A Strategic Audit

This paper “Global Information Systems: A strategic audit” aims to discuss GIS's expansion strategy into global business and the workability of the strategy.... In addition, the discussion includes whether the company should be doing things in a different manner to increase its international presence....
9 Pages (2250 words) Essay

Strategic Management in Hierarchy Organizations

The essay "strategic Management in Hierarchy Organizations" will analyze strategic processes and how they succeed under hierarchy organization.... Also of major concern will be the strategies in organizations and how they may be explained and implemented through various strategy theories....
4 Pages (1000 words) Literature review

Dell Strategic Audit

and discuss a brief strategic audit.... Most people preferred them since they offered their products Speech affiliation Speech: Dell strategic audit I am going to take you through Dell Inc.... and discuss a brief strategic audit.... In addition, I will take you through the strengths and weaknesses associated with Dell Inc and incorporate various strategies they have had in place to attain competitive advantages....
2 Pages (500 words) Essay

Strategic Audit of Wal-Mart

The paper "strategic audit of Wal-Mart " discusses that in general, the strategies that Wal-Mart uses are such that it has not just assured Wal-Mart of the astounding success that it has enjoyed, but is likely to ensure sustained growth into the future.... hellip; In general, Wal-Mart's relentless push for ever-lower prices has revolutionized retailing and is sometimes even credited for helping to keep U....
9 Pages (2250 words) Case Study
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Contact Us