Target Corp Strategic Management Process

Only available on StudyMode
  • Download(s) : 801
  • Published : November 14, 2008
Open Document
Text Preview

There are a gazillion companies out there, but some stand out. Whether it is because of their popularity, affiliations, history, profile or service, one factor simply makes or breaks a company; it’s strategy management process. The author of this paper’s intention is to present and examine a multi-national corporation. Dissect the how’s and what’s about it, and simply discuss its processes. The author will be giving a brief background on the company to easily elaborate how it is that the company is successful compared to its past. Its products and services will be conversed and the company’s industry will be discussed as well as its competitors and its market. Basically everything that has to do with the company will be discussed. Everything will be brought forth for the purpose of finding out what the company’s strategic management process is. In conclusion giving it a feasible action that can be applied to better the company overall. The company is Target Corporation; it is a retail store that provides anything under the sun. Regular target stores provide groceries, clothes, furniture, sporting goods, electronics and toys. You name it they got it. Target’s company statement is “expect more, pay less” their mission is to be the preferred shopping destination for the guests by delivering outstanding value, continuous innovation, and an exceptional guest experience and consistently fulfilling their company statement.

Company Background

In 1902, George A. Dayton opens a grocery “good fellows” in downtown Minneapolis. There it was founded and after 9 years was changed to “the Dayton company” In 1946, the Dayton company’s bylaws establish the practice of giving 5%of pretax profits to the community. It’s the second American company to establish a present amount of annual giving in its bylaws. Eventually the Dayton company enters the mass market discount merchandising with the opening of its first target store in Roseville, Minnesota in May 1. In the early 70’s Dayton Corporation gives back to the community by supporting team member (employee) volunteers for their first ever Earth day where they plant trees and clean parks. In the same decade, target stores reach $1 billion in annual sales. In due course, the company grew even more and began acquiring other stores such as Mervyn’s. In the late 90’s the corporation continues to give back to the community with “take charge of education” is introduced. It is a store credit card, which allows guests to donate 1% of their purchases to a K-12 school of their choice. They also provided a long term housing for families in Memphis, Tennessee with children receiving life saving treatment at the St. Jude Children’s research hospital. In 2000, Dayton Hudson Corporation is renamed Target Corporation. After almost 100 years of providing for its community, Target finally opens its 1,000th store consequently reaching $1 billion in total giving’s to charities and foundations.

Target Corporation
Target Corporation is based founded at Minnesota but is now nation wide with over a thousand stores. There are the regular Target stores that provide groceries, clothes, furniture, sporting goods, electronics and toys. And the super target which has all the mentioned plus a pharmacy. Customers are not called customers rather “guests” by the staff to create a feeling of hospitability upon entering the store. The author of this paper is knowledgeable of the company because he has worked there for almost a year. When a team member (staff) sees a guest he/she is required to ask the guest “can I help you find something?” under the target store that is law. There are even games that strengthen this rule. Once a month, an undercover person goes to the store posing as a guest. Whenever a team member asks him/her “can I help you find something?” the team member will be rewarded with a gift card prize which amounts to about $50. This is one of the techniques that...
tracking img