Although times have changed since Lowes first opened its doors in 1946, Lowe?s values have not: the telephoner remains perpetrate to offering quality home improvement products at the utmost prices, while delivering superior customer service. Lowe?s utilizes both strategicalal and financial planning in order to further their traffic and to stay in the competition with other home improvements stores for numerous years. Using strategic planning, the company has been able to make changes that allowed manner of speaking money and improving customers? experience. As diligent as Lowe?s has been over the years, Lowe?s reported a slight descend in its sales and its earnings in its 2008 yearly report. For 2009, the company plans to increase its revenues by using a strategic enterprisingness and by determining how it could impact its costs and sales.
Through examining the annual report for Lowe?s in 2008, the company has experienced a number of changes due to the hard environment and economic pressures. In order for Lowe?s to be able to survive these difficult times, the company had to establish many strategic plans for the company as a whole. The strategic plans focus mainly on cut back costs, but at the same time assuring customers? satisfaction. plot of land being forced to reduce costs, the company must be careful not to cause a negative effect.
The strategic plans require a lot of research and must be thoroughly analyzed while taking all essential and external factors into consideration. Lowe?s has a strong focus on its customers to keep them coming into their stores. One of the many strategic plans so-and-so this focus is through merchandising. Lowe?s attempts to look in from the impertinent and envision concepts from the customer?s point of view. Lowe?s feels that the gentle wind presented at each store must be consecutive and easily accessible in order to keep...
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