Mission Statement For Lowe's

Lowe’s Business

When a company continuously grows and changes its processes to ensure that they are staying with or a head of its competitors, one can say that they are great at planning and executing. What does the ability to plan for business growth look like? This can look like many things when dissected for others to view or to try and emulate. Lowe’s as an organization has spent a great amount of time developing this business plan and have reevaluated that plan over time to ensure they are giving their customers the best service and products to continue their business growth. Each business needs to have a positive mission statement, a profitable business model, and the ability to sustain a financial advantage.

Mission Statement and Vision

The mission statement and vision are two completely different things that describe the businesses way forward and who they are (Gamble, J., Thompson, A. A., & Peteraf, M. A., 2016). When it comes to Lowe’s mission statement it is one that is seems simple and puts people at its forefront. Customer service and community service are core commitments at Lowe's — and they have been for more than 60 years (Lowe’s, 2018). This shows that giving back to the community that they operate in and the customers they serve are very important to the company. In business you will hear a lot of people say that the success of a business is based on profits, but it seems like Lowe’s is also basing it on how well they work in the community. Being a good neighbor means being committed to improving the places our employees and customers call home (Lowe’s, 2018). When a business shows that they care for you as a person, then the return on investment will be greater because the customers are going to feel better about coming back to your stores. We will provide customer-valued solutions with the best prices, products and services to make Lowe's the first choice for home improvement (Lowe’s, 2018). Lowe’s shows that its future will be based on them providing the best of products, pricing, and customer service to ensure that it is the best company in its category. This may sound

This allows them to continue to do business against its competitors so that they stay relevant in todays markets. The competitive advantage for Lowe’s is broken down into a few areas. First, their product selection is very large compared to the competitors roughly 40,000 items (Lowe’s, 2018). This will include things that some of the competitors would not normally carry such as, lamps, designer towel racks, window treatments and designer towels (Lowe’s, 2018). This allows Lowe’s the opportunity to ensure that the customers will return to its stores and purchase from them instead of the competitors. Competitive strategy concerns how a business can develop and sustain its competitive advantages based on a set of planned strategic actions (Liu, Y., & Liang, L., 2015). Lowe’s, like any other retail store, must plan for all seasons in diverse ways to maximize the profits. This comes from them conducting numerous studies on product sales, time of the year placement, and previous sales records (Lowe’s, 2018). This is how Lowe’s keeps itself ahead of it competitors now and in the