Ever wondered what the secret of Lowes’s success is?
Lowe’s Home Improvement is a company that has been in business since 1946. They started as a small hardware store in North Carolina and have grown into one of the largest home improvement chains in the world. Lowe’s is known for its low prices and quality products.
So, I decided to conduct an in-depth Lowes Mission and Vision Statement Analysis to find out why they are so successful.
- The Company History
- Lowe’s Mission Statement
- Lowes Vision Statement
- The Core Values
- More Job Opportunities In Home Improvement!
- Final Thoughts
The Company History
Lowes was created in 1946 by Lucius Smith Lowe from North Carolina. He opened the hardware store in North Wilkesboro, NC. In the early days, Lowes was a small hardware store that sold items such as screws, nails, and paint.
Then during the ’50s and ’60s, they began to expand their product line to include appliances and other home improvement products. Lowes went public in 1961 and has been listed on the New York Stock Exchange ever since. Lowe’s is currently the second-largest home improvement chain in the world.
They have more than 1800 stores in the United States, Canada, and Mexico.
Read more: Does Walmart Own Lowes?
- Headquarters: Mooresville, North Carolina
- CEO: Marvin R. Ellison (Jul 2019- present)
- Revenue: $72.148 billion USD (2019)
- Number of Employees: 260,000 (2019)
Lowe’s Mission Statement
“To help customers improve their homes and lives through inspiration and guidance in all things home improvement.”
Lowe’s Mission Statement History
Lowe’s original mission statement was simply… “to help our customers improve their standard of living.”
In 1992, they updated their mission statement to focus on home improvement. The current version of the mission statement was introduced in 2010. It focuses on helping customers improve their homes and lives.
Their mission statement is very similar to their vision statement, which focuses on being the most recommended retailer for home improvement products and services. Their mission focuses more on helping customers improve their homes and lives through inspiration and guidance in all things home improvement.
Lowes Vision Statement
Lowe’s is committed to becoming the most recommended, preferred, and trusted retailer for home improvement products and services. This commitment is evident in their achievements over the past several years.
“We strive to be the most trusted and preferred home improvement retailer in North America by providing customers with high-quality products and services at the fairest prices, delivered with a sense of urgency by people who care.”
The Core Values
Lowe’s has five core values that guide its business decisions. These core values are:
- Customer first.
- Commitment to Associates.
- Stewardship of Resources.
Their first core value is customer-centricity. They believe that their customers are the key to success, and they focus on creating an environment where you can always find what you need and get help if needed.
In addition, they offer free shipping on most of their products, so it is easy for customers to buy what they need online without having to leave their homes.
Their second core value is integrity. They believe in being honest and fair with their customers, employees, and suppliers. This includes treating everyone with respect and honesty. They also have a no-tolerance policy for bribery or corruption.
Their third core value is innovation. Lowe’s has always been at the forefront of new technology and trends in the home improvement industry.
For example, they were one of the first companies to offer online shopping for home improvement products. They continue to invest in new technology to make it easier for customers to find what they need and get help when needed.
Commitment to Associates
Lowe’s fourth core value is a commitment to associates, which means that they want to create a workplace where everyone is treated equally and with respect.
They believe that diversity creates an environment for creativity, innovation, and growth. Lowe’s has been recognized as one of the best places to work because of its commitment to diversity and inclusion in the workplace.
Stewardship of Resources
Lowe’s fifth core value is stewardship of resources which means that they are committed to taking care of our planet by using sustainable business practices. This includes reducing water consumption, recycling waste materials (like cardboard boxes), and encouraging customers to recycle when possible.
The Lowe’s Slogan:
“Improving Lives Every Day.”
Lowe’s corporate headquarters are located in Mooresville, North Carolina. This is where they develop new products, test new advertising campaigns, and make strategic decisions for the company.
Read more: Does Lowes Accept PayPal?
More Job Opportunities In Home Improvement!
Well, let’s first take a look at my Lowes Application to get the ball rolling! And if you need to know How Old Do You Have To Work At Lowes, just have a read. Finally, if you have a criminal record, then check up on Does Lowes Hire Felons before moving forward.
Alternative options include our Home Depot Application, and Home Depot Interview Questions, along with How Old Do You Have To Work At Home Depot, depending on your age. As well as our Harbor Freight Application, Ace Hardware Application, or perhaps our Sherwin Williams Application, and if you’re interested, our Frys Electronics Application in 2023.
Lastly is a selection of in-depth articles about our Google Mission and Vision Statement Analysis, our Target Mission and Vision Statement Analysis, our Toms Mission and Vision Statement Analysis, our Kraft Heinz Mission and Vision Statement Analysis, and our Amazon Mission and Vision Statement Analysis!
So far, Lowe’s has done a good job of living up to its mission statement. They have been ranked as the #12 best company to work for in the world and the #16 best company for customer service.
They are also the most recommended home improvement retailer, according to Forrester Research. Lowe’s is committed to creating a better every day by helping people love where they live. This commitment is evident in their slogan, core values, and overall corporate culture.
Overall, Lowe’s appears to be a company that puts customers first and strives to improve the quality of life for everyone involved.
All the very best starting your career with Lowes!