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Hello Jessica!

You have accurately provided researchable question focusing on the community resources offered to the marginalized population of sex working mothers in helping promote their mental health and wellbeing. Secondly, you have demonstrated that your research will delve deeper beyond the mere availability but will also capture the ease of accessibility of these sources.

Indeed, the intersectionality theory is appropriate for your research topic. The social problem in question is complex and multifaceted in nature. Thus, interventions to address such problems must consider multidimensional approach rooted in collaboration between different parties. Intersectionality agrees that the experiences of discrimination among certain groups are informed by the interconnected nature of various social entities (Cho et al., 2013). Sex working mothers face multiple challenges, first as sex workers and also as mother. Secondly, the sex working mother belong to different races and socio-economic class. They are born and raised in different backgrounds (Cole,2022). Similarly, different circumstances push the mothers to sex works. Thus, a holistic intervention to address the problem should incorporate these factors.

References

Cho, S., Crenshaw, K. W., & McCall, L. (2013). Toward a field of intersectionality studies: Theory, applications, and praxis. Signs: Journal of Women in Culture and Society, 38(4), 785-810. https://www.journals.uchicago.edu/doi/abs/10.1086/669608

Cole, M. (Ed.). (2022). Education, equality and human rights: issues of gender,’race’, sexuality, disability and social class. Taylor & Francis.

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Question

BMGT 494 STRATEGIC MANAGEMENT

Purpose

This project is the first of four projects. This project provides the first steps in completing an external environmental analysis of your specific company’s strategic management plan. You will use tools and apply concepts learned in this and previous business courses to demonstrate an understanding of how organizations develop and manage strategies to establish, safeguard and sustain their competitive position in the 21^st century (rapidly evolving/shifting/changing), uncertain hyper-competitive business environment.

Completing a company overview and assessing the general environment is key in performing an external environment analysis. This project provides you with the opportunity to evaluate the competitive position of one of the organizations listed below and integrate that information into the beginnings of an external environmental analysis.

The company you will be analyzing operates within the global market. Therefore, you will assess the company in terms of the global industry. Industries differ widely in their economic characteristics, competitive situation, and future profit potential.

In this project, you are presenting a report document. The expectation is that the report provides details to help the audience grasp the main topics and understand the business climate.

“Analysis” is the operative word. In analyzing the external environment, you are expected to thoroughly research the company. As part of that effort, you will need to take that research and break it into small parts to understand better what is happening in the external environment of the business. In researching an industry, it is important to understand that every company within an industry is different, so gathering information on one company does not mean that the collected information is relevant to other companies. When researching, parsing the material is critical to an accurate analysis. Avoid presenting just any information as that may lead to using irrelevant information.

You will then write the report in your own words to share the external analysis. You are expected to present information with supporting ideas and reasoning using the course material and your research. You will not lift any information from source documents without properly citing and referencing. For the technical analysis aspect of the project, you must create the technique on your own and may not use any source material that you happen to find. No work from a clearinghouse or similar website may be used or cited as a credible source.

Outcomes Met With This Project

Utilize a set of useful analytical skills, tools, and techniques for analyzing a company strategically;
Integrate ideas, concepts, and theories from previously taken functional courses including accounting, finance, market, business, and human resource management.

Instructions

In completing the report, you will use the chapters in the eBook and other course material. Moreover, you will research the company and its industry before responding, in narrative form, to the information provided in the steps (see below).

Step 1 Specific Company for All Four Projects

In this project, you will complete a Company Overview, an Evaluation of the General Environment, and a conclusion.

You will be assigned by your instructor one specific company to complete the analysis. The assigned company must be used for all four projects in this course. You cannot write a report on any other company different from the company specifically assigned by your instructor. If a company other than that assigned to you is used, a zero will be assigned.

Students must complete the project using the assigned company. Deviating from the assigned company will result in a zero for the project. You will look for the company assigned to you in the Announcement area of the classroom.

Step 2 Course Materials and Research

You are required to research information about the specific company and the external environment for this project. You are accountable for using the course materials to support the ideas, reasoning, and conclusions made. Course material’s use goes beyond defining terms and explains the ‘why and how’ of a situation. Using one or two in-text citations from the course materials and then relying on Internet source material will not earn many points on the assignment. A variety of source material is expected, and what is presented must be relevant and applicable to the topic being discussed. Avoid merely making statements but close the loop of the discussion by explaining how something happens or why something happens, which focuses on importance and impact. In closing the loop, you will demonstrate the ability to think clearly and rationally, showing an understanding of the logical connections between the ideas presented from the research, the course material, and the question(s) being asked.

Note: Your report is based on the research results performed and not on any prepared documentation. What this means is that you will research and draw your own conclusions that are supported by the research and the course material rather than the use of any source material that puts together any of the tools or techniques whether from the Internet, for-pay websites, or any pre-prepared document, video or source material. A zero will be earned for not doing your own analysis.

Success: The analysis is based on research and not opinion. You are not making recommendations, and you will not attempt to position the specific company in a better or worse light than other companies within the industry merely because you are completing an analysis on this particular company. The analysis must be based on factual information. Any conclusions drawn have to be based on factual information rather than leaps of faith. To ensure success, as stated above, you are expected to use the course materials and research on the specific company’s global industry and the specific company. An opinion does not earn credit, nor does the use of external sources when course materials can be used. It is necessary to provide explanations (the why and how) rather than making statements. Avoid stringing one citation after another, as doing so does not show detailed explanations.

Library Resources (Company Required)

All the information needed for your assigned company must be obtained from one of the library’s suggested online company research databases. To use these resources, go to the main navigation bar in the classroom, select Academic Support, and then select Libary. Next, select Databases by Title (A-Z). Since your primary online company research database is Statista, select S from the alphabet list, and scroll down to select Statista Online.

Dun and Bradstreet’s Hoovers Database, among others listed using the link directory below, is another excellent source of company research, competitor and industry information.

You can find relavant and significant additional information required for company project research by using https://libguides.umgc.edu/business-research.

Additional Library Resources

Research for Company Financial Ratios: Financial Research.

Research for Industry Financial Ratios: CSI Market.

Use “OneSearch” to find scholarly articles by clicking Library under Academic Support on the classroom main menu bar and checkmark “Scholarly Journals Only” prior to starting a search.

Library Support Personal Assistance

Extensive library resources and services are available online, 24 hours a day, seven days a week at https://www.umgc.edu/library/index.cfm to support you in your studies. In addition, the UMGC Library provides research assistance in creating search strategies, selecting relevant databases, and evaluating and citing resources in various formats via its “Ask a Librarian” service at https://www.umgc.edu/library/libask/index.cfm.

Step 3 How to Set Up the Report:

The document must be written in Word or RTF. No other format is acceptable. Pdf files will not be graded. Use 12-point font for a double-spaced report. The final product should be 7 – 8 pages. It may not exceed 8 pages, including all tables and matrices, but excluding the title and reference pages. Do no use an Appendix.

Create a title page with the title, your name, date, the course number, and the instructor’s name.
Create Topic Headings that correspond to the exact sections of the project requirements.

Step 4 Company Overview

Provide a company overview, which is an essential component of the strategic management process. The company overview includes the purpose(s) for the founding of the company (i.e., what problem(s) was it formed to solve and/or opportunities it was formed to exploit, who are the founders, home country or state, current management, employee headcount, last year’s revenue, etc.).

Step 5 Evaluate the General Environment

Identify the global industry in which the company operates.
Discuss the company’s general environment by developing a PESTEL analysis.
- First, use the course material to identify the elements of the PESTEL and what components make up each element. Then, complete the analysis using research on the industry and the specific company. Be sure to present and support the reasoning for what is presented thoroughly. You may not use a PESTEL analysis that is already completed and available on the Internet. A zero will result if used as the analysis has to result from your research and your own development.
- NOTE: A PESTEL analysis is not a table, and it is not a bulleted assessment.
Identify and discuss one key trend for each letter of the PESTEL for the industry. Key trends are separate from the PESTEL analysis.
Select one of the six trends identified in the previous requirement and discuss how the selected trends could affect the specific company.
Discuss key areas of uncertainty related to the identified trend for the specific company that could potentially impact the company’s strategy.
Perform strategic analysis of the company’s mission, vision, and objectives.

Step 6 Conclusion

Create a conclusion. The Conclusion is intended to emphasize the purpose/significance of the analysis, emphasize the significance/consequence of findings, and indicate the wider applications derived from the main points of the project’s requirements. Finally, you will conclude the findings of the external environment analysis.

Step 7 Review the Paper

Read the paper to ensure all required elements are present.

The following are specific requirements that you will follow. Use the checklist to mark off that you have followed each specific requirement.

Answer:

Home Depot

Home Depot operates as the largest home improvement retailer based in the United States. With its headquarters in Cobb County, Georgia, the company had around 490,600 employees and recorded over $151 billion in revenue in 2021 (Statista, 2023). The retailer was co-founded by Arthur Blank, Bernard Marcus, Pat Farrah, Ken Longone, and Ron Brill in 1978. At the conception stage, the co-founders were driven by the need to establish a home improvement store that would tower above the competition in the United States, the initial capital to actualize this dream was provided by Ken Longone who at the time served as an investment banker.

Home Depot recorded 37.7 billion in sales in the last quarter of fiscal year 2023. This amount came as a 3.0% reduction from the revenue registered in 2022. Notably, the company registered a 3.5% decrease in comparable sales in the United States alone. The home improvement market has shown tremendous growth over the years. According to Statista (n.d), the market has seen booming business during the COVID-19 pandemic since many people grabbed the stay-at-home opportunity to renovate their homes.

Despite the raging inflation rates, the home improvement market is expected to record an upward growth. Business in this market will remain lucrative as many homeowners around the world wish to upgrade their homes or living spaces to make them more attractive. Statista (n.d) reports that the global home improvement market value stands at 830 billion USD and the home improvement retail sales in the United States alone stand at 424 billion US dollars. This trend shows an improvement.

General Environment

In the context of a business organization an environment encompasses the external conditions and forces that may influence the organization. This concept can be further broken down into two components including the general environment which entails the overall trends such as the demographics social and economic trends (Barney & Hesterly, 2019). The second component is the industry that makes up the organizations providing similar goods or services thus in direct competition. Every action employed by a given organization induces some level of changes in its environment. Notably, the decision made by most organizations may not amount to a significant influence in their industry due to the limitations in their size and resource base (Barney & Hesterly, 2019). Generally, the environment exerts far more influence on the organization than the organization can impact or influence the environment.

It is important for an organization to understand its environment. It provides the organization the resources needed to create the goods and services. For instance, the suppliers providing raw materials needed to manufacture the products and availability of these materials determine the organization’s ability to run its business (Barney & Hesterly, 2019). Secondly, the environment informs the opportunities and threat for a particular organization. Opportunities include the trends or events that can be leveraged to improve the organization performance while treats undermine this performance and growth (Barney & Hesterly, 2019). Knowledge of the trends in the environment is a tool that guides the organization leadership in making informed decisions.

PESTEL Analysis

PESTEL analysis is a tool used by the management to identify the external factors that influence the performance of a firm. In the context of Home Depot, PESTEL analysis highlights the treats and opportunities that impact the organization performance.

Political Factor

This component focuses on how government decisions impact organizations. In the context of Home Depot, the external political factor entails government interventions in the form of trade agreements and expansion which presents an opportunity for expansion and growth. Political stability creates a conducive environment for business and the changes in legislative framework and government spending which are notable threats (Ferguson, 2023a). This dimension of the analysis shows that the company has more opportunities to excel in its environment.

Economic Factor

Economic factor in a business environment directly impact the business performance. In this context, Home Depot has an opportunity to grow due to the increasing disposable income among the consumer. This trend promises an increase in the purchasing power among the consumers particularly in the United States (Ferguson, 2023a). The positive trend in the housing market is another opportunity intensifying the demand for products and services sold by the company. However, it is important to recognize that this trend leads to an increasing cost of capital which is a potential threat that can undermine the company’s ability to expand.

Sociocultural Factors

The sociocultural factors include the trends in social environment that influence consumers, workers and investors. In light of the increasing preference for high quality products, Home Depot stares at the opportunity to provide high quality and durable goods (Ferguson, 2023a). On the other hand, the increasing wealth gap and the reducing middle class population promises a threat (Ferguson, 2023). Notably, many customers are avoiding the low quality products selling at low cost which may affect Home Depot. However, the company’s culture has been grounded on providing quality services at it stores which appeals to the customers.

Technological Factor

Technology is another key factor impacting the business performance. Home Depot has the opportunity to incorporate more technology in the form of business automaton, machine learning and artificial intelligence to improve efficiency and quality in service delivery (Ferguson, 2023). Similarly, the company can improve its mobile app segment to allow further reach to consumer. With the growing popularity of smartphone technology and internet, the company has an opportunity to improve business performance.

Ecological Factors

Environmental factor has been a major area of concern for all players in the economy including the government. Majorly, the customers are increasingly becoming conscious of the carbon footprint of the products and thus prefer the green products (Ghazali et al., 2021). The change in attitude towards environmental issue has seen the emergence of policies to support environmentally friendly products (Ferguson, 2023). Home Depot can incorporate sustainability at the heart of its operation through recycling and energy conservation to resonate well with the environmentally conscious customers and to benefit from the policies such as tax incentives on the green products.

Legal Factors

Every business operates within legal framework. As a factor within the larger environment, information security regulation presents a valuable opportunity for the organization to enhance its security related to the use of information communication technology system (Ferguson, 2023a). Furthermore, the company can improve its practices to exceed the regulations guiding employment and health and safety.

Economic Trend

The economic factor/trend refers to the economic conditions within the environment in which an organization is based. The major items under this section include the unemployment rates, gross domestic products, inflation and the general trend in the economy (Ferguson, 2023a). Notably, the late 2000s has seen economic crises leading to a decline in business. Furthermore, the increasing unemployment rates that reduced the purchasing power of the consumers. These factors disadvantage consumers who are left with little resources to spend in the market such as home improvement.

The United States has recorded a fluctuation in unemployment rate over the recent years. According to Statista (2024) unemployment rate stood at 3.7% as of December 2021 and increased to 4.4% as of January 2022. It reduced to a record low 3.1% as of April 2023 and has since increased to 3.5% as of December 2023 (Statista, 2024). Although the unemployment rate in the United States sits below the world’s overage. The recent increase shows the shift in the purchasing abilities of the population targeted by Home Depot.

The changing middle class population is another key economic factor that influence business at Home Depot. According to Kochhar and Sechopoulos (2022) the middle class which was at one point considered an economic powerhouse of the United States has declined over the years. The population of adults in this social class declined from 61% in 1971 to 50% in 2021. This trend has been synonymous with the increasing population of adults moving up the ladder to upper income tier. This population has seen a change from 14% recorded in 1971 to 21% in 2021 (Kochhar & Sechopoulos, 2022). The population of adults in the low income social class has increased from 25% to 29% in the said period. Home Depot focuses on pocket friendly home improvement products targeting the middle income population. The changing face of this population directly impacts the volume of business for the multinational company.

Inflation is another key metric in the economic trend that influence business in the home improvement market. The inflation rates have remained exceptionally higher in the United States showing a negative trend in the economy. Jordà et al. (2022) assert that the inflation rates in the United States rose from below 2% to above 4% in the 2021 period and remained elevated. These figures remain higher than inflation rates recorded in other OECD (Organization for Economic Co-operation and Development) countries which increased from 1% to 2.5% throughout the period. The hard economic times leave little in the pockets of consumers to spend on home improvement which comes secondary to other primary needs such as food and healthcare.

Areas of Uncertainty Related to the Identified Trend

The changing rates of unemployment shows a degree of economic instability. The trend indicates uncertainties in the employment scene that have direct impact on the ability of the consumers to spend in the market especially on home improvement products (Ferguson, 2023a). The upward trend in unemployment rates may reduce the consumer purchasing power. Similarly, the uncertainty means inability of the company to accurately predict consumer behavior. Thus, they may not properly plan their marketing strategies and inventory to assert dominance in the home improvement market.

Inflation rate is another area of uncertainty that may impact Home Depot. The unpredictable future inflation rates may reduce the disposable income among consumers impacting their ability to purchase products in the home improvement market (Ferguson, 2023a). This trend may impact Home Depot’s ability to properly plan and set the product prices and to align its strategies with the consumer behavior as informed by the inflation.

The shrinking middle class population which is the target group for Home Depot leaves a room for uncertainty. The changing face of income across the social classes may lead to an alteration in consumer preferences and the type of products they purchase (Ferguson, 2023a). As a result, Home Depot may be forced redesign its marketing strategies and product quality to align with this changing demographics. Similarly, the global economic trend is another point of concern for the multinational company. The varying economic patterns across different regions impact the profitability of Home Depot. Hence, the company should monitor and adapt to the changing global trends.

Mission, Vision and Objectives

Home Depot’s mission statement is to provide the highest service level, broad product range and selection and most competitive prices to customers. The mission statement is an embodiment of qualities that makes company a household name in the home improvement industry (Ferguson, 2023b). The active ingredient in this statement include highest quality services, a wide range of products and competitive prices. Based on the said elements, Home Depot offers a one-stop shopping experience for consumes interested in home improvement products and services (Ferguson, 2023b). High quality services as engraved in the mission statement is an affirmation of the company’s commitment to offering a one of a kind customer experience to establish and maintain a good relationship with its customer base.

Home Depot’s vision is to provide an interconnected and seamless shopping experience among the customers to enable a perfect blend of the physical or traditional and the digital world (Ferguson, 2023b). This statement shows the company’s commitment to leverage the strengths of the brick and mortar operations and the power in the emerging technologies to ensure quality ins service delivery.

Assessment

Home Depot emphasizes its commitment to service excellence by providing high quality services to its customers. The company pays attention to customer satisfaction which is aligned employee training and efficient customer (Ferguson, 2023b). The company is committed to offering a wide product range showing its strategy to meet the diverse needs of the customers. This position means the company is open to engaging in strategic partnerships and incorporating innovative solutions to meet the diverse customer needs. Also, it shows the company’s commitment to working with extensive network of suppliers.

Competitive pricing implies that the company intends to incorporate cost management strategies, waste reduction and efficiency in its supply chain. In its vision statement, company has incorporated various aspects of the business which aligns with the mission statement. The vision statement to clearly specifies Home Depot’s commitment to the future by engraving the idea of a seamless and frictionless retail experience in the provision for home improvement products (Ferguson, 2023b). The vision statement demonstrates that the company has embraced the idea of evolving technology while maintaining the corporate tradition.

Conclusion

Home Depot is a major player in the home improvement market. With the United States as its parent market, Home Depot has asserted dominance in this niche. The company offers a one stop shop for a variety of products in the house improvement business. The organization provides an array of products ranging from home décor, appliances, building materials and home enhancement. These include the political aspect, economic factor, sociocultural factor, technological, legal and ecological factors. The economic factor is a major area of concern in business. Notably, the changing economic dynamics of the world influence business decisions. The recent times have seen an increasing trend in inflation and unemployment rates. These factors mean a reduced purchasing power among the consumers. Furthermore, the reducing population of people in the middle class social class pose danger to Home Depot. The middle class is the major target of the company. These changes create a cloud of uncertainty that Home Depot has to contend with moving forward. The uncertainties limit the ability of the company to accurately forecast and make informed decisions in business. In its mission statement entails provision of highest service level, a broad product selection and most comptitive prices to customers. In its vision statement, the company demonstrates that it has embraced the idea of using the latest technology to remain ahead in busies while remaining true to its tradition.

References

Barney, J. B., & Hesterly, W. S. (2019). Strategic management and competitive advantage: Concepts and cases. Pearson.

Economic Policy Institute. (2023). State unemployment by race and ethnicity. https://www.epi.org/indicators/state-unemployment-race-ethnicity/

Ferguson, E. (2023a June 14). Home Depot PESTEL/PESTLE analysis. Panmore Institute. https://panmore.com/home-depot-pestel-pestle-analysis-recommendations

Ferguson, E. (2023b, November 13). Home Depot’s mission statement & vision statement. Panmore Institute. https://panmore.com/home-depot-vision-statement-mission-statement

Ghazali, I., Abdul-Rashid, S. H., Md Dawal, S. Z., Aoyama, H., Sakundarini, N., Ho, F. H., & Herawan, S. G. (2021). Green product preferences considering cultural influences: a comparison study between Malaysia and Indonesia. Management of Environmental Quality: An International Journal, 32(5), 1040-1063. https://doi.org/10.1108/MEQ-11-2020-0245

Jordà, Ò., Liu, C., Nechio, F., & Rivera-Reyes, F. (2022). Why is US inflation higher than in other countries?. FRBSF Economic Letter, 7, 1-6. https://www.frbsf.org/wp-content/uploads/sites/4/el2022-07.pdf

Kochhar, R. & Sechopoulos, S. (2022 April 20). How the American middle class has changed in the past five decades? Pew Research Center. https://www.pewresearch.org/short-reads/2022/04/20/how-the-american-middle-class-has-changed-in-the-past-five-decades/

Statista (2023, November 30). The Home Depot statistics & facts. https://www.statista.com/topics/7564/the-home-depot/#topicOverview

Statista (2024 January 8). Monthly civilian labor force participation rate in the United States from December 2021 to December 2023. https://www.statista.com/statistics/193957/unadjusted-monthly-civilian-labor-force-participation-rate-in-the-usa/

Statista. (n.d). Home Improvement. https://www.statista.com/markets/415/topic/462/home-improvement/#overview

The Home Depot (2023 November 14). The Home Depot announces third quarter fiscal 2023 results; narrows fiscal 2023 guidance. https://ir.homedepot.com/news-releases/2023/11-14-2023-110056256

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