Hobby Lobby
Transcript: Hobby Lobby Larger in size 360 mil Geographic Locations In place of setting a visualized message of Mission and Vision statements, Hobby Lobby has based their future and current operations on biblical and family values. "We believe that it is by God’s grace and provision that Hobby Lobby has endured. God has been faithful in the past, and we trust Him for our future." - Hobby Lobby Hobby Lobby is respecting to their roots in honoring God throughout their company's growth. As a fast-growing company, they have affiliated their growth to their family values. Headquarters in Oklahoma City, OK operating over 600 stores across 45 states. - Looking to operate in all 50 states in a couple years Hobby Lobby has multiple benefits for employees: All Stores Closed on Sunday, Holiday Pay, Personal Paid Time Off, Paid Vacation Leave, 401(k) Plan, Long Term Disability Insurance, Medical and Prescription Plan, Dental Plan, Group Life Insurance, Merchandise Discount, Flexible Spending Plan, and A Great Work Environment Major Divisions/Organizational Structures Burwell vs. Hobby Lobby Sylvia Burwell, the Secretary of Health and Human Services Retailer of fine furnishings that has added 7 additional show rooms Big Players Hobby Lobby $360.17 M Annual Sales 10% in-store discount goes to churches, schools, and national charitable organizations Goods & Services Over 600 stores 45 states 4 different countries including the US, China, Hong Kong, and Philippines Instead of always building new stores, they restore exiting buildings Hobby Lobby is affiliated with Mardel and Hemispheres both operated by David Green's son, Steven Green. The company's operations are based solely on Oklahoma Manufacturing and Distribution Center. - Mardel is also set up in Oklahoma Hemispheres helps with some of Hobby Lobby's supplies in imported home furnishings. Strengths: Wide range of merchandise- candles, craft supplies, fabrics, wall decor, etc. CEO: David Green - Started up company in 1970 with his wife Barbra Green President: Steven Green - Son of David Green No Board of Directors - Private Family Company Sources Weaknesses: Privately owned- investors dont want to join their funds into a single unit. High risk of investment loss. Michaels 4.4 billion Jo-Ann 2.2 billion Financial Values Leadership & Employees SWOT Analysis 70,000 arts, crafts, hobbies, home decor, and Holiday and seasonal products Mardel Christian & Eductaion Founded by Mart Green the son of Hobby Lobby owner. Retailer of christian materials, office supplies and educational products June 30th, 2014 Supreme Court ruled that Hobby Lobby did not have to provide contraception coverage. Culture & Environment Threats: Obamacare- Contraception mandate Competition Potential Opportunities: Store Openings across the US & other contries-China, Hong Kong, Philippenes Online expansion Happenings Colbert, Catherine. "Hoover's - Hobby Lobby." Hoover's. N.p., n.d. Web. 31 Mar. 2016. <http://subscriber.hoovers.com/H/compaColbert, Colbert, Catherine. "Hoover's - Hobby Lobby - Products & Operations." SWOSU Libraries:. Hoover's, n.d. Web. 03 Apr. 2016. <http://subscriber.hoovers.com.libnet.swosu.edu/H/company360/productsOperations.html?companyId=55405000000000&newsCompanyDuns=061038741>. Website "Our Story - Hobby Lobby." Hobby Lobby. N.p., n.d. Web. 31 Mar. 2016. <http://www.hobbylobby.com/about-us/our-story>. "Why Choose Hobby Lobby - Hobby Lobby Career Center." Hobby Lobby Career Center. N.p., n.d. Web. 31 Mar. 2016. <https://careers.hobbylobby.com/why-choose-hobby-lobby/>. Honoring the Lord by operating their company with Biblical standards Offering incomparable customer service and a good product for a reasonable price Supplying an environment for their employees that invites character building, enhancing the individual, and development of families By: Jessica Penner, Somi Lee, and Lindsey McCauley Patient Protection and Affordable Care Act- employment based health care plans must provide preventative care such as contraceptive methods. Mission & Vision Hemispheres Competitors