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Target Corporation Essay

5616 words - 23 pages

Case analysis
Target Corporation

Professor

Contents

Introduction

Vision Statement

Mission Statement

Strategy Analysis

State 1: The Input Stage
External Factor Evaluation
o Opportunities
o Threats
Competitive Profile Matrix
Internal Factor Evaluation
o Strengths
o Weaknesses
Summary of Financial Ratios in Target Corporation

Stage 2: The Matching Stage

1) The Strengths-Weaknesses-Opportunities-Threats (SWOT) Matrix,
2) The Strategic Position and Action Evaluation (SPACE) Matrix,
3) The Grand Strategy Matrix,
4) The Internal-External (IE) Matrix.

Summary of ...view middle of the document...

It served as the prototype for every Target store opened since then, and it changed how consumers think about discount shopping.

Today, Target operates approximately 1,500 stores in 47 states, including more than 175 Super Target® stores that add an upscale grocery shopping experience. In addition to the photo processing, pharmacy and Food Avenue® restaurants found in almost every Target, Super Target includes an in-store bakery, deli, and meat and produce sections.
The corporation consists of six operating divisions, three of which are the retail stores Target, Marshall Field’s, and Mervyn’s. In addition, there is target direct (direct marketing and electronic retailing division), Target Financial Services, and Associated Merchandising Corp. Robert Ulrich, Chair and CEO, has led these six divisions since 1994. Target Corporation evolved from two long-standing retail chains, Dayton’s and Hudson’s.
In 1903, George Dayton established Dayton Dry Goods store in Minneapolis, MN that offered return privileges and liberal credit. His store eventually expanded into a full-line department store that was twelve stories tall. In 1966, Dayton’s gone public and grew through acquisitions.
Hudson’s originally began in 1873 when Joseph Hudson opened a men’s clothing store in Detroit that offered its customers return privileges and price marking instead of bargaining. Hudson’s became the largest retailer of men’s clothing by 1891.
After World War II, both companies saw the need to expand into the growing suburban market. It was the largest shopping center of its time in the United States. In 1956, Dayton’s built the world’s first fully enclosed shopping mall, Southdale. In 1962, Dayton’s opened the first Target store. The Dayton Hudson Corporation formed in 1969 after the acquisition of the family-owned Hudson’s. Dayton Hudson bought Mervyn’s retail chain of forty-seven stores in 1978, and Marshall Field’s department stores in 1990. Because the Target division was so successful, the company changed its name to Target Corporation in 2000.

Vision Statement

We’re a company living a clear vision: to be the best. In every area of our business. In everything we do.

Our nationwide channel of retail stores, distribution centers and corporate offices offer you thousands of opportunities to join our team and bring your best.

Our team members bring more than their great energy to work every day. They bring their unique perspectives, experiences and differences to work, too. They give us the strength to dare ourselves to be the best—and the power to achieve it.

Mission Statement

The primary mission is to expand our worldwide leadership position in quality, cost, and customer satisfaction through the integration of people, technology, and business systems and to transfer knowledge, technology, and experience throughout Target Corporation.
Mission Statement Components

1. Customers
2. Products or services
3. Markets
4. Technology
5. Concern for...

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