...| Wal-Mart vs. Target | Mission , Vision, Social Responsibility, and Strategic Planning | | Renita Springs | 3/6/2012 | | Wal-Mart and Target are both great retail stores to go and find a good bang for your buck shopping experience. After researching both companies, it appears they have the same ideas as a mission, saving the customer money. Wal-Mart Mission statement reads; “ If we work together “ we’ll lower cost of living for everyone.. We’ll give the world and opportunity to see what it’s like to save and have a better life.” (http://walmartstores.com/AboutUs/9538.aspx) Target’s Mission Statement; “To make Target the preferred shopping destination for our guest by delivering outstanding value , continuous innovation and an exceptional guest experience by consistently fulfilling our Expect more, Payless brand promise.” (http://sites.target.com/site/en/company/page.jsp?contentId=WCMP04-031699) A comparison in the mission statements implies that both companies show some definition on the purpose of the organization, to save money for the customers; however, Wal-Mart lacks how the company helps make its strategic decision. The Wal-Mart statement is too vague. It should be broadened to give detail on how they plan to do save the customer money and have a better life. Target’s purpose of the organization and strategic plan is made clear through reading the mission statement. Target speaks more in depth on how they plan to do this for the customer but not...
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...Goods. In 1911, Dayton Dry Goods was renamed to Dayton’s Department Store. In 1916, the Dayton Company became a founding member of the Retail Research Association and was once again renamed to Associated Merchandising Corporation. In 1960, Dayton started planning to enter into discount retailing and had its first retail location of Target open on May 1st of 1962 in Roseville, Minnesota. Target also created their famous bull’s-eye icon as the trademark symbol for the company when the first store was opened. In 1966, Target opened its first stores outside of Minnesota in Denver, Colorado; later opening more stores in locations such as St. Louis, Dallas, and Houston in 1968. Target revamped their bull’s-eye icon; this change happened to show what Target stands for and offers to its customers. In 1969 Target opened its first distribution center in Fridley, Minnesota and later became Dayton Hudson Corporation’s highest revenue producers in 1975. In 1979, Target had reached $1 billion in annual sales. With this achievement Target held a billion dollar sale as a way of saying thanks to its guest for visiting the 74 stores in the 11 states that they were located at the time. Today, Target is open in all of the states except Vermont. In 2013, Target expanded its company even further when they opened 124 stores in Canada (Target Through the Years, 2014). Target has several products and services that are unique to their company for their guest. Target has several private label products...
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...of a business’s individual values is illustrated in Target’s organizations plans and action’s. The preparatory point of this paper will identify on several areas that will analyze the origin of the Target store and the sub sequential of its values in the workplace. Explaining how the individual values drive his or her actions and behaviors and analyzing the alignments between the actions, values and behaviors. Following that, which will be the analyzing of the degree of the alignment that, which Target’s stated values and Target’s actual plans and actions are defined. In addition to, the explanation of all the analyzed differences of his or her individual values and Target’s values as reflected by Target’s plans and actions will be expressed. In the lead above the many places one may go to obtain their everyday needs from pet supplies, to electronics are only a few stores that would come to mind first. Among these top organizations is Target that, which is known for its prices, the services and the cleanliness, with a red sign as a logo that no-one, can mistake that, which is the Target bulls eye and this choice for shopping rises to the top of most consumers favorite destinations to shop. The existence of Target is pure, and to be the preferred shopping destination for all consumers and to appeal to all demographics is the drive for Target. When viewing the Target website and researching what the mission statement conveys is to formulate Target as the preferred destination...
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...Causley Edwards, Instructor April 9, 2013 Table of Contents I. Executive Summary…………………………………………………………3 II. Company background and Mission, Vision, and Values Statement........3-4 III. Environmental Scan…………………………………………………….....4-6 a. External Analysis…………………………………………………………4 b. Internal Analysis………………………………………………………….5 c. Competitive Position and Possibilities…………………………………...5-6 IV. Strategies used for the Company………………………………………….6-8 V. Implementation Plan……………………………………………………….8-13 VI. Risk Management Plan…………………………………………………….13-14 I. Executive Summary Target prides itself on its charitable contributions and being an environmentally friendly corporation. This is one of Target Corporation’s many strong characteristics. Their strengths include innovative techniques, branding, and design. With strengths, there come weaknesses for companies. Target’s weaknesses include the lack of geographic locations and numerous litigation cases. Competitor competition, along with a recovering economy, serves as threats to the retail industry. There are many opportunities for Target, such as expansion into the global market, continued growth in private label, and broadening their target demographic to increase the market share. II. Company Background and Mission, Vision, and Values Statement In 1962, the first Target store was opened by the Dayton Dry Goods Company in Minnesota. Target is one of the few franchises to have been established...
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...A Critique on Mission Statements I. Introduction Upon entering into the market, a company does not necessarily have to have a mission statement; however, most successful companies achieve their objectives and goals through operating with and being founded upon a mission statement. The mission statement’s purpose is for companies to say much more about their business scope and purpose of ‘who they are, what it does, and why it exists’. Some companies project future growth in their mission statement; however, that projection can be stated in the company’s vision statement. This paper’s mission is to list and critique the mission statements of Spring Hill College and eight S&P 500 companies being: Google, Coca Cola, Avon, Walt Disney, Target, Wels Fargo, All state and Verizon Wireless. II. Spring Hill College’s Mission Statement Spring Hill College is a Jesuit Institution founded in 1830 by Michael Portier, Mobile’s first Catholic bishop. The mission of Spring Hill College a liberal arts and Jesuit College of the south reads: “Rooted in its Catholic heritage and continuing the 450-year-old Jesuit tradition of educational excellence, Spring Hill College forms students to become responsible leaders in service to others. We offer our students a thorough preparation for professional excellence; and we strive to awaken mind and spirit to the pursuit of truth and to the ever-deepening appreciation of the beauty of creation, the dignity of life, the demands...
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...External/Internal Factors-Target Learning Team A MGT/330 June 11, 2012 William Roman External/Internal Factors-Target 2 External/Internal Factors-Target At Target, a well-known corporation that offers a variety of high-quality products to a broad range of consumers, there is much going on behind the scenes. Target’s mission statement, “Our mission is to make Target the preferred shopping destination for our guests by delivering outstanding value, continuous innovation and an exceptional guest experience by consistently fulfilling our Expect More. Pay Less. ® brand promise,” reflects the internal and external factors that affect the four functions of management, the impact of other factors on these functions, and delegation through management (Target Brands, Inc, 2012). Target is an organization that believes in embracing diversity, giving back to the community, and incorporating its positive morals, values, and ethics into its business, and these principles apply to the four functions of management within the organization- planning, organizing, leading, and controlling (Bateman & Snell, 2009, Chapter 4). Target uses these functions to determine which goals are accomplished and how the available resources strive to achieve these goals (Bateman & Snell, 2009, Chapter 4). The main internal and external factors that influence these functions of management at Target are human resources, marketing, operations, stakeholders, technologies, and industry...
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...bring families together as well as their store’s communities through innovative programs and partnerships. According to Target’s corporate responsibility report, “Target contributes 5% of their annual income to programs that inspire learning, make families and communities safer, and make the arts affordable and accessible” (2013). Another way Target gives back to their community is they volunteer hundreds of thousands of hours of their time and technical expertise to nonprofit organizations each year. Diversity is very important to the corporation and they display is by their hiring of team members and development, merchandise and marketing, and community programs and contributions. The corporation believes in building a team of people with different backgrounds distinct experiences, and unique points of view-reflecting the communities where they live and work (2013). Target works in close partnerships with suppliers all around the world, with the goal of improving their product innovation, delivering more value to their customers, and having affordable prices. Their mission reflects their goal. “Our mission is to make Target the preferred shopping destination for our guests by delivering outstanding value, continuous innovation and an exceptional guest experience by consistently fulfilling our Expect More. Pay Less. Brand promise” (2013). Target’s social initiative is...
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...Background and Description of Major Issues Target actually began as Dayton Dry Goods, a department store - focus on high quality feel at lower prices - Customers have a more pleasurable shopping experience • However, many customers are willing to forgo aesthetics for lower costs in tough economic times. o Because Target is following a “Cost Leadership” strategy, it is important to play the game, because the target market will not respond to largely excessively higher costs in the name of differentiation. • Additionally, it is important to make sure that an efficient supply chain is maintained and that inventory is turned over as quickly as possible. Target’s gross margin is higher than the industry average and Wal-Mart’s, which implies that Target is relatively efficient in this area. o Wal-Mart’s large amount of stores, both within the United States and internationally, help the low-cost retailer bring in revenues. ▪ Target could improve by stepping up against this strategy. • As the world becomes more inter-connected, Target needs to stay on board o For example, the potential revenues gained by reaching foreign markets can be seen as an opportunity. ▪ However, PEST analysis shows that this can also pose problems: • U.S. Export Tariff on Chinese goods • Risk of instability in other countries o Both politically...
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...all have a company mission, vision, and value’s statements which help them to perform at optimum levels of operations. Missions, vision and value statements: the overall goal is to provide the organization with their purpose; which is the case for these retail chains in the U.S. The mission, vision and value statements aid each chain to define their brand, culture, and consumer relations. Each retail chain differentiates them-selves by providing unique good and services to their consumers, more-over their mission, vision and values statement must also be unique, enabling them to stand out form each other. The big players in the discount retail market are Wal-Mart, Kmart, and Target. (retailindustry.about.com) Supporting Paragraphs Both mission and vision relates to an organization’s purpose and are typically communicated in some written form. Mission and vision are statements from the organization that answer questions about which we are, what we value, and where we’re going. (Coffman, Freire, Heaver, & Soltis, 2002) Mission statements are often longer than vision statements. Sometimes mission statements also include a summation of the firm’s values. (Cady, Wheeler, DeWolf, & Brodke, 2011, p. 70) Values are the beliefs of an individual or group, and in this case the organization, in which they are emotionally invested. A vision statement, describes what an organization’s purpose and aspirations will possibly be in the future. The mission statement gives meaning and...
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...attention to what is going on in the world, and staying ahead of other companies. Target always has the latest gadgets, latest trends, etc. They are ready for anything that is thrown at them, and I think they do have the needed skillsets they are going to need. * Chick-fil-A: Through uncertainty, ambiguity, and sudden change environments, Chick-fil-A seems to remain constant. They have their great service, delicious food, and kind employees who are willing to go above and beyond for the customer. They have been successful since their beginning, therefore I do believe that they have the needed skillets they are going to need. Question 2 (Chapter 2) - Do you believe your organizations’ managers are able to handle the rate of environmental changes (particularly the financial impacts on their customers, suppliers, employees, etc.) occurring nationally and internationally? * Target: I do believe that Target’s managers are able to handle environmental changes. Target’s famous slogan, “Expect More. Pay Less,” is very well communicated. The managers believe this slogan enough to live by it, and that will show to their customers. If some of Target’s customers were to suffer some kind of financial loss, it is safe to say that Target would still be an option for them when shopping for groceries, and other household items. * Chick-fil-A: In every Chick-fil-A that I have ever been in, it is very apparent who the manager is, and that he believes in his company and what...
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...key business include Target Financial Services, which encompass the Target Red and Target Visa card business. Target Corporation, originally called the Dayton Corporation, was formed in 1902 by George Dayton. The company recorded revenues of $59,490 million during the fiscal year ending January 2007. Target Corporation prides itself on its corporate responsibility which includes charitable contributions and being an environmentally friendly corporation. This, in fact, is one of Target Corporations’ many strong points. Their strengths would include branding, market presence, design, and their innovative marketing techniques. While possessing many strengths, Target also suffers from some weaknesses that include the lack of a mission and vision statement, geographic locations, and...
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...key business include Target Financial Services, which encompass the Target Red and Target Visa card business. Target Corporation, originally called the Dayton Corporation, was formed in 1902 by George Dayton. The company recorded revenues of $59,490 million during the fiscal year ending January 2007. Target Corporation prides itself on its corporate responsibility which includes charitable contributions and being an environmentally friendly corporation. This, in fact, is one of Target Corporations’ many strong points. Their strengths would include branding, market presence, design, and their innovative marketing techniques. While possessing many strengths, Target also suffers from some weaknesses that include the lack of a mission and vision statement, geographic locations, and...
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...PART I: Overview of the Corporation: The year 2012 marks Target’s 50th anniversary. In the years since the department store evolved, Target has “watched our innovations lead to retail revolutions, and our team, guests and partners build better communities where we live and work” (1). With a mission to “make Target the preferred shopping destination for our guests by delivering outstanding value, continuous innovation and exceptional guest experience,” (1) Target has become known as an upscale retail store that does in deed offer trendy, high quality merchandise at discount prices. They place a lot of focus on their brand promise, “Expect More, Pay Less,” in order to ensure customer satisfaction. “Expect more of everything. More great design, more choices and more designer-created items that you won’t find anywhere else. And pay less. Its as simple as that” (1). Target Corporation is guided by their commitment to great value, the community, diversity and the environment and this is held very close to their heart. In keeping with their “Expect More, Pay Less” promise, Target distinguishes itself from competitors by offering affordable yet upscale products. History: Target Corporations, formally known as the Dayton Corporation, was founded in 1902 by George Dayton. At the time of formation, the store was known for “Dependable merchandise, fair business practices and a generous spirit of giving” (1). Dayton had recognized opportunities for growth in this market and took...
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...out the mission of the organization in a way that will achieve company goals and objectives. Target is one of the largest retail department stores, and a contributing factor to their success is developing employees. Prior to training, Target must conduct a needs analysis to determine if and what training is necessary to achieve the company’s goals and objectives. The first step is to conduct an organizational analysis to review where the organization is in regards to reaching their goals. They analyze what has been accomplished and what still needs to be accomplished to achieve the goals. From the outcome of this analysis, the organization conducts a task analysis to break down the goals into small tasks. With this information, they move on to the team analysis to see what level of skills the team possesses and what training is required to get them to the level needed to complete the necessary tasks for the organization. Organizational Analysis “Target is an upscale discounter that provides high quality, on trend merchandise at attractive prices in clean, spacious and guest-friendly stores. In addition, Target operates an online business Target.com (http://investors.target.com). Target operates in 1,925 stores, 1,795 in the United States and 130 in Canada. Target is known for providing outstanding customer service; this continues to be their focus as they expand the business in Canada with a goal of having 215 stores in Canada in 2015. Targets mission statement states...
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...companies do not offer the exquisite and top class quality, they’ll not be able to attract and satisfy the customers. The companies and organizations need to emphasize on strategic plans, strategic objectives, and process improvement plans along with sufficient tools and techniques required for all this. For this purpose management must come up with various strategies to improve their quality and enhance their customer satisfaction. A lot of strategic management in regard to quality control and customer satisfaction is required if a company wants to gain and retain the customers. Target Corporation Target is a well known store in United States and is popular in regard to the outstanding and exclusive products it offers. The mission statement of the company highlights customer satisfaction and making it certain that Target stores are the most appropriate and accepted store for the customers who seek style and trend. The store offers a wide range of exclusive, creative and innovative products made by various designers at very reasonable prices. This is how they tend to gain and retain customer satisfaction. The company commits to expect more and pay less brand promise. This has given...
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