Here's the Defining Characteristic of Home Depot's Success

The strongest competitive advantage that we see in the business world is often obtained from intangible assets. This is the case with Home Depot (NYSE: HD), which has a robust organizational culture that has played a key role in seven-fold stock growth over the past decade. CEO Craig Menear highlighted the success of investments that have been made over the years and that have improved the company's ability to "quickly adapt to changing customer needs, preferences and behaviors".

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