Target Strategic Audit Essay

After the recession, Target’s value proposition shifted to simply offer affordable options in a wide array of product areas. However, now with better economic conditions and without the ability to offer lower prices than its affordable retail competitors, such as Walmart, and in order to stay relevant and refresh the company, Target needs to reposition itself as the high-quality concept and style-oriented retail store it was once known for.

Due to Target’s outstanding customer service as well as the quality products they offer, this allows for the organization to operate smoothly in everyday operations as well as to smoothly implement new operations.

Target Corporation is one of the largest merchants in the world. Target is recorded to be the sixth largest retailer within the United States. Founded by, George Dayton in 1902 Minneapolis, Minnesota. Target stores have a variety of products which includes everything from clothing to automotive and electronics. It is a corporation that is on-top of their game and continues to grow day-out. It is a brand that is well known and continues to raise the bar each year effectively. This paper will detect the importance of internal and external within the corporation overall.

Target is an upscale discounter that provides high-quality, trendy merchandise at attractive prices in clean, spacious and guest-friendly stores. In addition, Target operates an online business, Target.com. It all started in 1902, when George Dayton joined in partnership with Goodfellow’s Dry Goods Company, the fourth biggest department store that is located in Minneapolis, MN. Dayton, wanting to be more involved in the company bought out Goodfellow’s to become sole owner and President of Dayton Dry Goods Company (Target Corporation, 2014). Travel on down through the years as Daytons continues to grow, until 1962. That was the year an icon was born, its name is “Target.”

Target Corporation is known worldwide as a large retail chain that brings in millions of dollars each fiscal year. The ability to remain competitive in a saturated industry could prove difficult to some retailers, but Target remains one of the leaders in the retail market. With success comes risk. Target Corporation competes against online retailers as well as “big box” stores to remain competitive.

Strategically set into motion, Target has evolved from an in-store experience and enhanced their business model into be a multi-omnichannel, customer focused retailer. In questioning Target’s overall sales for 2016, the company documented that the decrease in the sales is a reflection from a decrease of roughly $3,815 million due to the Pharmacy Transaction.

Target needs two major improvements which are the reducing of waste that is filling landslides which need to be reduce 2.7% this year. Next, is they need to reduce their greenhouse gas emissions per retail sale to twenty percent of retail sales by this year (5). Second is team member well-being which Target is keeping track of such as; the increase health assessments which Target wants their employees to enroll in their Target health plan hoping that it will increase 80% but it only has 42% that enrolled in the program (6). Also, Target wants more employees to enroll in the biometric health screenings to 80% which reached 78% in 2014 (6).Furthermore, Target wanted to increase their financial tools which are available to employees such as the 401(K) and helping them reach a financial goal in their personal life (6.)Thirdly, double education support Target is keeping track to make their goal to raise one billion for their support on education hoping to beat their $970,000,000 earnings of 2011 (7).In fact, Target wants to increase their TCOE Giving to 425 million which they donate money to fifty states and the District of Columbia.

Target caters to a plethora of categories--from furniture to clothes and technology. They aim to be a one-stop shop for people of all ages and preferences. This relates back to their mission statement as customers begin to think of it as their “preferred shopping destination.” In relation to suppliers, Target aims to buy their products from various types of contractors.

Target Corporation offers its customers a vast variety of products, well also providing a service. The corporation owns or has exclusive rights to many different brands ranging from groceries to clothing. For example, some brands that can only be found at Target are Archer Farms which provides food merchandise, Merona which supplies clothing and Room Essentials which provides home goods (Target, 2015, para.2). The shopping experience that Target provides can be defined as a service. The stores shopping experience is a service, since it cannot be patented, interaction with the customer occurs, it is heterogeneous, along with perishable and time dependent and contains the package of features (Chase & Jacobs, 2013, p.9). Target is a popular consumer destination because it provides both a service and goods making it ideal for one

A robust supply chain is needed in order to ensure that shelves stay fully stocked. Therein lies the major operations battle which Target, like its competitors, Walmart and Costco, to name a couple, must perfect in order to achieve a competitive

Target Corporation has a very detailed job design that clarifies the responsibilities of employees in their various departments. They have a strong and effective job design in place, since it is a constantly growing company. All the departments at Target coexist very well with one another and this has allowed continued success over years. Not one department works independently. Instead, they are all connected, which allows them to assist one another in their duties and with the customers.

Target Corporation is an evolving company. Target has great expectations for its future. For the year 2015, Target aims to expand its experience in order to effectively alter their customer’s expectations and shopping behavior. Target’s industry outlook starts with opening fifteen new stores for the year. The strategic store growth plans focus on localization and customer experience. Target will establish new store formats such as TargetExpress and CityTarget, while also offering new experiences, merchandising layouts and innovations in its general merchandising stores. (Target.com) The retailer’s TargetExpress is the smallest store format at approximately 20,000 square feet and aims to provide customers with effective quick trip shopping experience.

Target is an American retailing company founded in 1902. It is the second largest discount retailer in the United States (target.com, 2013). Targets mission is to make their store the preferred sopping destination for their guests by delivering outstanding value, continuous innovation and exceptional guest experience by consistently fulfilling their “Expect more pay less” brand promise. In order for Target to compete with the number one largest competitor Wal-Mart the four functions of management must be implemented in their strategic business plan. In this paper our team will explain how internal and external factors affect the four functions of

One of Target’s strengths is that it’s one of the largest retail outlets. Target is a one stop shop for its consumers. Target

Target Corporation has recognized itself as one of the top retailers in the United States market on the basis of excellent service quality, customer experiences, operational excellence, strong financial position, and a wide array of product offerings. Through its high degree of service orientation at physical outlets and adoption of fair business practices, Target Corporation has become the most distinctive retailer in the eyes of its potential customers. Being one of the top-notch retailers in the United States, Target Corporation has to carefully strategize on its business operations and marketing tactics so as to keep itself in the row of competitive brands of the industry.