Comparison of the Home Depot and Umpqua Bank - Essay Example

Compare and contrast Home Depot and Umpqua Bank Compare and contrast Home Depot and Umpqua Bank Home Depot was initiated innineteen seventy-nine, and is located in Atlanta. The bank had a number of sections dealing in changing products and services. It was developing at a high pace, at the ending of the year two thousand, the firm had clocked a revenue of forty billion U.S dollars. By the end of the year two thousand and five, the revenue had clocked 80 billion U.S dollars (Charan, 2006). Umpqua bank started as a small-scale retail in nineteen fifty three in Poland.

This bank also has several retail sections including boutique. Innovative managers manage the two firms and staff working at all costs to satisfy their clients, and in return get a respectable profit margin. Umpqua has a mission stating that their aim is to come up with a unique and outstanding banking environment (Freeze, 2005). Management To come up with a framework for the radical new culture, the Home Depot management under Nardelli as the CEO, created nine divisional operating offices. These offices had different pricing accords with the same supplier.

This was done to enhance efficiency and diversification to spread risk and uncertainties. The managers were up to task and had righteous will for the prosperity of the bank. It is clear when Donovan and Nardelli annually spent a number of weeks scrutinizing a number of operations undertaken by the bank (Charan, 2006). For instance, they examined human resource talent recruiting, performance management and education among others, to equip them with a hint of what the staffs are doing to their clients.

The company management is on toes training its employees to enhance service delivery and efficiency. This company has several strategies based on training and planning activities. This is done to set employees in line with the intended cultural changes. In Umpqua, the management is up to date and is culture oriented to satisfy clients and acquire new branches. To maintain their culture in newly acquired branches, they bring their new employees to their main deport for training (Freeze, 2005).

Just like his counterpart in Home Depot, Davis is focused on creation of a new, unique delivery system. For efficiency and smooth running of the firm, Davis sends his staff to several deports to record data of goods entering the stores. He is change oriented, under his management the company hires qualified marketing personnel from Stern Marketing to aid in doing the work (Freeze, 2005). Service delivery To draw the attention of its customers, Umpqua transforms some of its branches into store.

This bank creates switching costs to its customers to lock them in. The firm uses many millions to design a new generation stores. It leases a novel docket in the North of the city center in Poland to enhance service delivery to the clients. The firm embarks on soul searching under Ziba as the team leader. He digs deep into malty-sided research on culture values of Umpqua, mission, as well as behavior (Freeze, 2005). Consequently, he explores customers’ needs, behaviors together with their mind-set.

To enhance efficiency, Home Depot came up with a design called a culture change tool box. This toolbox had several plans of handling different situations. They include information models, which had comprehensive outlines to organize presentation data, strategic operation, and resource planning, store manager learning forums to help the attendees’ acquaint themselves with the novel strategies, employee task force, and Monday morning conference calls for the top fifteen management. It forms a forum where they can share ideas on the running of the firm (Charan, 2006).

In conclusion, the two firms have almost the same plans based on their client satisfaction and profit generation. References Charan, R. “Home Depot’s Blueprint for Culture.” Harvard Business Review, April, 2006: 60-70 Foshay, R. W., & Silber, K. (2009). Handbook of improving performance in the workplace, instructional design and training delivery. New York: John Wiley and Sons. Freeze, K. (2005). Umpgua Bank: Managing the culture and the Implementing brand. Harvard Business School: Design Management Institute