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Great Leaders In Business Essay

1973 words - 8 pages

The Target Stores are very successful National Corporation in the United States. Target is an American retailing company that has its headquarters in Minneapolis, Minnesota. It is the second largest retail store in the U.S. behind Wal-Mart. Target is also ranks 33rd on the Fortune 500 as of 2010. The company was founded in 1902 in Minneapolis as the Dayton Dry Goods Company. Target grew and eventually became the largest division of Dayton Hudson Corporation. It was then renamed as Target Corporation in August 2000.
While working for the Dayton Company, John F. Geisse developed the concept of upscale discount retailing, and became the founder of Target from concept to large discount chain. ...view middle of the document...

Although Ulrich is no longer the current CEO of the Target Corporation, Ulrich is credited with crafting Target's unique brand and marketing image and focus, which is widely considered to be a key contributor to the company's growth and success in the retailing industry.
Ulrich was born in 1944, in Minneapolis, Minnesota, then received a Bachelor of Arts degree from the University of Minnesota, and rapidly moved into the retailing business. In 1984, Ulrich became president of the Target Stores group within Dayton Hudson, and he began leading significant growth for the division. Then from 1987 to 2000 Ulrich was the chairman and CEO of Target Stores and then became the chairman and CEO of the Target Corporation.
By 1992, the number of Target Stores had doubled during Ulrich's tenure, to just over 500. Because of all the amazing growth and success the Target Corporation was experiencing while Ulrich was CEO, he was awarded "CEO of the Year 2007" by Chief Executive Magazine. Some of his other awards include: Discounter of the Year, DSN Retailing Today in 1989, 1992, and 1995; Mass Market Retailer of the Year, Mass Market Retailer in 2000; and Gold Medal Award, National Retail Federation, 2001. According to the National Retail Federation website, the Gold Medal Award is the most coveted award in retail, given to individuals who have served the industry with distinction and achieved a national reputation for excellence. The recipients have also displayed creative genius and inspirational leadership and have won the respect of fellow merchants for devotion to the retail craft.
The leadership skills and knowledge of the discount retail business allowed Ulrich to aid the Target Corporation by extreme proportions during his time as president, chairman and CEO from 1984 all the way up to 2008. It takes a lot to make a retail store successful with all the competition that is out there and Robert Ulrich was able to take his corporation and make it the second best store. During his time with the Target Corporation, Ulrich was awarded many titles that prove exactly how much of an amazing businessman and leader he is. In the bleak discount-retailing landscape littered with the ruins of countless low-price chains that found survival impossible in the era of Wal-Mart, Target Stores managed not only to survive but to prosper. The chain's success had to be credited in large part to the genius of Robert Ulrich, the chairman and chief executive officer of the parent Target Corporation for more than a decade. While Bradlees, Caldor, Montgomery Ward, and others fell by the wayside and once-mighty Kmart was forced to reorganize under Chapter 11, Ulrich found a way for Target to distinguish itself from the rest of the pack. Most importantly for Target's shareholders, Ulrich managed not just to keep Target afloat but to generate impressive growth in sales and profits. In her profile of Target in the May 24, 1999, issue of Fortune, Shelly Branch...

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