Careers at Stanley Black & Decker
Stanley Black & Decker’s mission is to build world-class branded franchises with sustainable strategic characteristics that create exceptional shareholder value.
Stanley Black & Decker is a provider of tools, systems, and accessories for consumer and professional applications. The firm operates three reportable business segments:
Tools & Storage Segment – Consists of the Power Tools and Hand Tools & Storage businesses. The Power Tools business includes professional products, consumer products, and power tool accessories. The Hand Tools & Storage business sells measuring, leveling and layout tools, planes, hammers, demolition tools, knives, saws, chisels, and industrial and automotive tools.
Security Segment – Consists of the Convergent Security Solutions (CSS) and Mechanical Access Solutions (MAS) businesses. The CSS business designs, supplies, and installs electronic security systems and provides electronic security services, including alarm monitoring, video
surveillance, fire alarm monitoring, systems integration and system maintenance. The MAS business sells and installs automatic doors, commercial hardware, locking mechanisms, electronic keyless entry systems, keying systems, tubular, and mortise door locksets.
Industrial Segment – Consists of the Engineered Fastening and Infrastructure businesses. The Engineered Fastening business sells engineered fastening products and systems designed for specific applications. The Infrastructure business consists of the Oil & Gas and Hydraulics businesses.
In 1910 S. Duncan Black and Alonzo Decker, both engineers and industrial tool designers, founded The Black & Decker Manufacturing Company. Using a loan of $1,200 and $600 from the sale of Black's used car, they set up a machine shop in a Maryland warehouse. In its first year, the firm manufactured industrial products invented by others, such as cotton picker and candy dippers.
Electric tools available at the time were bulky and hard to operate. So in 1916 the two began to develop and build their own power tools. They created a universal motor that could use direct or alternating current and had a trigger switch similar to that in a Colt revolver. The first product they introduced with these features was a 0.5-inch portable drill with a pistol grip.
The drill was light and relatively inexpensive at $230. It became a huge success, viewed as a labor-saving device in the face of growing labor costs. In 1917 the company received patents for the trigger switch and pistol grip. Later that year it built a factory. In 1918 its annual revenues shot past $1 million. In the 1920s more power tools were unveiled, including grinders and screwdrivers.
The company grew fast, and the factory was expanded to accomodate product demand. B&D also utilized aggressive salesmanship and services to build its customer base. It opened service centers and hosted workshops around the country to show distributors how to use and promote its tools. It also launched its first mass-media campaign in 1921, in the Saturday Evening Post newspaper.
Over the next decade B&D capitalized on its success by expanding internationally. It established offices in Canada, Great Britain, the Soviet Union, Australia, and Japan. The company also grew through numerous acquisitions, most notably of the Marschke Manufacturing Company, the Van Dorn Electric Tool Company, the Fleming Machine Company, and the Domestic Electric Company.
By the end of World War II B&D had a comprehensive line of professional tool products. In 1946 it launched its first power tools for the consumer market. These included the relatively cheap Home Utility line of 1/4-inch and 1/2-inch drills and accessories. In 2010 it merged with Stanley Works, another tool company, to form Stanley Black & Decker.
Business model of Stanley Black & Decker
Stanley B&D has a segmented market business model, with customer groups that have slightly different needs. The company targets its offerings at consumers and businesses that need tools.
Stanley B&D offers four primary value propositions: accessibility, innovation, customization, and brand/status.
The company creates accessibility by providing a wide variety of options. It offers tools, solutions, and services in the following categories: Tools & Storage, Commercial Security, Hospital & Healthcare Services, Fastening Solutions, Infrastructure Products, and Pipeline Services.
The company embraces innovation as a part of its culture. It maintains the Stanley Fulfillment System (SFS), which includes the following cutting-edge systems and processes:
- Sales & Operations Planning (S&OP) – A unified process that links and balances supply and demand in a manner that produces strong fill rates while minimizing DSI (Days Sales of Inventory).
- Operational Lean – The systemic application of lean principles in progressive steps throughout the enterprise to optimize flow toward a pre-defined end state by eliminating waste, increasing efficiency, and driving value.
- Complexity Reduction – A system for eliminating costly and unnecessary complexity from products, supply chain, and back room process and organizations. It enables all other SFS elements and, when successfully deployed, results in lower costs, speed of execution, and customer satisfaction.
- Global Supply Management – A system that leverages the firm’s scale to achieve the best price and payment terms with the best possible quality, service, and delivery among all categories of spend.
- Order-to-Cash Excellence – A process-based approach that provides a user-friendly, automated, and error-proof customer experience from intent-to-purchase to shipping and billing to payment, while minimizing cash collection cycle time and DSO (Days Sales Outstanding).
- Common Platforms – A system for leveraging technology to facilitate integration of acquired firms. Standardized processes and system platforms are used to reduce costs and provide scalability.
The company enables customization by incorporating customer feedback. It features a section on its website called “Submit an Idea” that invites visitors to identify ways it can strengthen its products and better deliver products that meet customer needs. It only accepts ideas in the following areas:
- Power Tools (Drill, Sander, Jigsaw, etc.)
- Outdoor Power Equipment (String Trimmer, Lawnmower, Hedge Trimmer, etc.)
- Home Cleaning Products (Hand Held Vacuum, Steam Mop, etc.)
- Hand Tools (Non-Powered Tape, Knife, Wrench, Socket, Hand Saw, Hammer, Pry Bar, Level, etc.)
- Electronic Tools (Apps, Laser Levels, Stud Finders, Laser Distance Measuring, etc.)
- Storage (Toolbox, Mobile Storage, Metal Cabinet, Organizer, Mobile Work Table, etc.)
The company has established a powerful brand due to its success. It is the world's leading provider of tools and storage, the second-largest commercial electronic security company, and a leading provider of engineered fastening systems. It is an S&P 500 and Fortune 500 firm that produces a number of well-known brands, including Stanley, Black + Decker, DeWalt, Porter-Cable, and Powers.
Stanley B&D’s main channels are retail chains, particularly mass merchants and home centers. The company promotes its offering through its website, social media pages, advertising, and a wide variety of sports sponsorships.
Stanley B&D’s customer relationship is primarily of a self-service nature. Customers utilize its products while having limited interaction with employees.
Stanley B&D’s business model entails designing, developing, and/or manufacturing tools, systems, and accessories for its customers.
Stanley B&D’s key partners are the suppliers that provide it with the raw materials it needs to manufacture its products. These items include ferrous and non-ferrous metals (steel, zinc, copper, brass, aluminum, and nickel) and resins. The company also purchases components such as batteries, motors, and electronic components, as well as resin-based molded parts from suppliers.
Stanley B&D’s main resources are its human resources, who include the engineers that design, develop, and/or manufacture its products. It maintains important physical resources in the form of facilities used for manufacturing, distribution, and sales in 19 U.S. states and 16 foreign nations. Lastly, it owns several patents and numerous trademarks for its various businesses.
Stanley B&D has a cost-driven structure, aiming to minimize expenses through significant automation and low-price value propositions. Its biggest cost driver is cost of sales, a variable expense. Other major drivers are in the areas of sales/marketing and administration, both fixed costs.
Stanley B&D has one revenue stream: revenues it generates from the sale of its products to customers.
info: He earned a Bachelor of Arts in Economics at Union College. He previously held several leadership roles at Stanley B&D, including Chief Operating Officer, Chief Financial Officer, and EVP of Finance. He also held many executive roles at General Electric.
info: He earned a Bachelor’s degree in Accounting at the University of Hartford. He previously served as the Principal Accounting Officer of Stanley B&D, and Director of Financial Reporting and Corporate Controller at Stanley Works.
info: He previously served as Vice President, Secretary, and General Counsel at Stanley Works and as Vice President, General Counsel, and Secretary at Dexter Corporation.
info: He earned a Bachelor’s degree in Computer Science and an MBA at the University of South Carolina. She previously held several leadership positions at Dell Corporation, including Vice President of IT Strategy, Technology and Governance.
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