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Summary Bus 402 Week 5 Final Paper BUS 402 STRATEGIC PLAN TARGET BUS 402 Strategic Management & Business Policy Company Target is an American-based retail store that also offers online shopping to its customers. The company was established in 1946 in Minne$7.49
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Summary Bus 402 Week 5 Final Paper BUS 402 STRATEGIC PLAN TARGET BUS 402 Strategic Management & Business Policy Company Target is an American-based retail store that also offers online shopping to its customers. The company was established in 1946 in Minne
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UAGC
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Ashford University
Bus 402 Week 5 Final Paper BUS 402 STRATEGIC PLAN TARGET BUS 402 Strategic Management & Business Policy Company Target is an American-based retail store that also offers online shopping to its customers. The company was established in 1946 in Minneapolis (Target, 2021). Target has over 1,900...
bus 402 week 5 final paper bus 402 strategic plan target bus 402 strategic management amp business policy company target is an american based retail store that also offers online shopping to
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BUS 402
STRATEGIC PLAN TARGET
BUS 402 Strategic Management & Business Policy
Company
Target is an American-based retail store that also offers online shopping to its customers.
The company was established in 1946 in Minneapolis (Target, 2021). Target has over 1,900
retail stores across the United States and District of Columbia (Target, 2021). The retail stores
offer a variety of everyday products and services to include clothing, electronics, household
goods, toys, personal care, food items and produce. “We want to bring our guest not only what
they need, but that they want” (Target, 2021). In addition to the variety of brands and products
the company retails, Target also has an assortment of their own brands and products. Some of
these brands include A New Day, Archer Farms, Art Class, Ava & Viv, Cat & Jack, and Cloud
Island (Target Corps, 2021). These exclusive brands make up one-third of the products sold in
Target (Target, 2021). In the year 2020, Target’s total revenue was over $93 million dollars
(Target Corps, 2021). Some of Targets competitors are to include Amazon, Walmart, Best Buy,
Dollar General and Macys.
Mission Statement
Target Corporation’s mission statement is “To help all families discover the joy of
everyday life” (Target, 2021). The corporation wants to provide a variety of different products
for their customers to enhanced their everyday living and experiences. Target’s mission is clear
to what the corporation’s intent is. Their goal is to provide happiness that can be enjoyed not just
in seasons but daily. Internally, Target Corporations’ workplace cultural is to provide a
respected, meaningful, and positive impact. “Becoming a Target team member means joining a
community that values diverse voices and lifts each other up” (Target, 2021). Target objectives
, toward their mission is to provide the ‘expect more, pay less’ promise, which includes offering
price match guarantees, rewards points, and quality brands.
Current Situation
Target currently has over 1,900 retail stores to include online retail shopping (Target,
2021). The corporation originally started as a retail shopping to experience that provided general
merchandise and had evolved into the multi-million-dollar franchise it is today. In the year 2020,
Target Corporation revenue was reported at 78.1 million dollars (Reuters, 2021). Target has
become a well-known and popular retail store that strives to commit to bring happiness, joy, and
support the community through offering a variety of products to include household goods,
clothing, groceries, and electronics. Targets operations include national and international markets
but primary resales products nationally and online. Targets’ technology position is continuously
developing and growing to meet demands from consumers.
Financial Condition
For the year 2020, Target had over $92,400 million dollars in sales (Target Corps,
2021). Just in the last quarter of 2020, there was an increase in online or same-day services that
increased by 212% (Target, 2021). For the last past 11 years, Target’s sales growth collectively
was below the reported $15 billion-dollar sales growth in 2020 (Target, 2021). The company’s
total assets increased by almost $10 million (Target, 2021).
Strengths
Target is a well-known company for their everyday life products in both retail and online
shopping needs. The brands and services offered by the company are great quality. Targets store
are kept in great standards that are clean and organized. The company’s tagline is “Expect More.
Pay Less.” (Target, 2021). The company’s logo is easy to recognize and simple. Target does have
a financing card that allows loyal customers give back to their local community, receive coupons,
and earn rewards by the amount they spend. Each Target location contributes to giving back to
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