Comparison of the Home Depot and Umpqua Bank Essay

Comparison of the Home Depot and Umpqua Bank - Essay Example The researcher of this essay aims to find a unique and outstanding banking environment, so that he compares he Home Depot and Umpqua Bank. 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. 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. 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. To enhance ef ficiency, 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. In conclusion, the researcher states that these two firms have almost the same plans based on their client satisfaction and profit generation.