It was a standing-room only event at Georgia Tech's Alumni House on August 28. Dean Anuj Mehrotra hosted Ted Decker, Chair, President, and CEO, and Fahim Siddiqui, Executive Vice President and Chief Information Officer, of The Home Depot. It was the first Tech Talks Business event of the fall semester and was met with great enthusiasm.
In his opening question, Mehrotra asked about the ubiquitous orange apron, an essential visual brand of The Home Depot. According to Decker, the apron is more than something employees wear – it represents their culture and values.
The Home Depot’s company culture is built on two core principles: the 'inverted pyramid,' where customers are at the top and company leadership is at the bottom, and the 'values wheel,' which consists of eight values: respect for all people, giving back to the community, building strong relationships, doing the right thing, providing an entrepreneurial spirit, providing excellent customer service, and taking care of its people.
Protecting their brand, customers, and employees is part of the DNA of the company. Even during economic fluctuations, Decker stated the key to their success has always been long-term planning and agility. In addition, technology plays a significant factor in its success, creating seamless customer experiences in its brick-and-mortar and online shopping transactions and improving its supply chain efficiencies. According to Siddiqui, building their online presence was crucial for the home improvement store.
Currently, the company is the fifth largest online e-commerce business in the U.S., with 60 percent of The Home Depot's transactions starting online. "Thank goodness, we built our online tech stack right before Covid because our online business doubled in 12 months," said Decker.
The company has also been using AI for years to enhance its technological advantages, including developing its search engine, which was previously outsourced to Google. Decker noted that as more customers search online, they look for solutions rather than simply searching for products.
He's proud of their work in sustainability, stating the company has always promoted ESG initiatives by focusing on sustainable solutions, including working with smaller suppliers and reducing their carbon footprint.
The Home Depot is firmly rooted in giving back, and Decker emphasized their work for veterans, including with VA hospitals and veterans experiencing housing issues. They continue to work with Habitat for Humanity and build at least two homes every year, according to Siddiqui.
Ultimately, the two agreed that creating value is the key to experiencing success.
Watch the full event in the video below.
