Introduction The two corporations chosen to use for this week’s assignment are O’Reilly’s Automotive, INC. and Advance Auto Parts, INC. for the year 2016. O’Reilly’s is an auto parts retailer with over 5,000 stores headquartered out of Springfield, MA. Advance is more widely available auto parts store with just over 6,300 stores in every US state plus three other countries, headquartered in Springfield, MO. Organizational differences The first noticeable difference between the two financial reports is the introductory pages. Although both reports showed a highlight of the company sales, O’Reilly’s report was more detailed with financial highlights outlining sales, incomes, capital and debt. It also outlined a five year share earning overview, …show more content…
Several top executives have been replaced and so the mission statement, business plan, and focus has changed. O’Reilly auto parts focuses on a “promote from within strategy”, an example being both presidents starting their careers one as a parts specialist and the other as a distribution team member. Goals, Challenges, and plans 2016 was a year of significant change to Advance Auto Parts structure, with transitions in the organizations President, Chairman of the board, Chief executive Officer, and Chief financial officer positions. After a loss in revenue over a three year period, drastic changes brought along new developmental long term strategies and vision. The company has developed 3 main strategies: Building an advantaged supply chain, Improving customer experience, developing the Do-It-Yourself experience, and removing unnecessary costs. With a continuous rise in sales and share earnings over the past five years, O’Reillys looks more at sustainability. Maintaining a “promote from within” strategy to continue quality local knowledge service is one continuous effort. Another line of effort is to repurchase shares after exhausting all other means of profitability