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The Aggressive Life with Brian Tome

The Service-First Rebirth of The Home Depot with Frank Blake—Fmr. Chairman & CEO

The Aggressive Life with Brian Tome

Crossroads

Christianity, Religion & Spirituality

4.9756 Ratings

🗓️ 31 May 2022

⏱️ 55 minutes

🧾️ Download transcript

Summary

Frank Blake never set his sights on the corner office, but that didn’t stop the Home Depot from calling. When Frank took over the home improvement giant, their stock-price was at an all-time low and they were being bested in every metric by their competitors. Frank turned the Big Orange around by focusing on service and people. The leadership wisdom that pours out of this living legend is second-to-none. 

Transcript

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0:00.0

Welcome to the aggressive life.

0:09.0

Do you like the Home Depot?

0:11.8

Come on.

0:13.1

Big orange store with all kinds of cool manly stuff inside of it.

0:18.1

Of course you do.

0:19.7

It's one of the most beloved and revered brands in

0:22.5

America. Today we're going to talk to the man responsible for the rebirth of the big

0:28.3

orange as it's known. In 2007, when Frank Blake became the CEO of the Home Depot, the

0:35.7

company's stock price was stagnant. Customer service was poor,

0:39.5

and it was being outpaced in nearly every metric by its competitors. Mr. Blake's predecessor

0:46.4

had led the company in a purely numbers-based fashion, but Blake came into leadership taking a

0:52.3

personal approach. The Home Depot was founded on customer service,

0:56.0

and that's what he believed would bring it back to life.

0:59.9

His strategy sounds like old school, fuddy-dutty things that are idealistic values,

1:05.4

but it actually is something he worked, a culture of service.

1:08.6

He worked it.

1:09.8

Investing in employee morale. He worked it. Engaging in

1:13.6

employees or slash associates. He worked it. And he measured success by more than just sales charts.

1:21.0

And it worked. His leadership, his value system, his optimism, and breathe new life into the failing

1:26.1

brand. And since then, the Home Depot has been

1:28.0

the world's largest home improvement retailer. It's got something like 500,000, as they call

1:34.1

them, 500,000 orange-blooded associates and 2,300 stores in North America. All this from a man who

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