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Strategic planning and setting goals
Strategic planning and setting goals
Strategic planning and setting goals
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The recommendation provided for Target Corporation is choosing the Stadium Remodel project.
There were three main factors used for choosing this project. First, its low initial investment that makes the risk for Target much lower. Second, by implementing this project it continues the strong brand image
Target has with its customers. Lastly, the Stadium Remodel project uses only a small percentage of total capital expenditures making it possible for Target to have more capital available for future capital expenditure. The first alternative for Target Corporation is the project Gopher Place. The positives of this project are that it will have the highest population increase from 2000-2005 at 27%. This increase is much higher than any other project and that means more possible
This project would help maintain a positive brand name image but it also would not be adding towards the goal of 100 stores a year. Based on the alternatives analyzed I believe that the recommendation of going forward with the
Stadium Remodeling project is the best choice. I came to this conclusion based on many different factors.
First, I took Target’s strategy into careful consideration. In addition, one of Target’s main objectives is maintaining a positive brand image. This store was already successful at a strong long-term location serving an affluent family-orientated customer base. By remodeling this store, Target is able to build the strong brand image. Target won’t have to use much of its budget for capital expenditure. In fact Stadium
Remodel project will only use 49% of the total expenditures budget. This is the second lowest percentage among the five projects. Also, the low investment cost will make it possible to build 205 more stores at this cost if they wanted to. Therefore, the lower cost of this project will make it still possible for Target to keep its goal of trying to open 100 new stores
Target has many competitors in the market, and the level of competition is highly intense. Some of its main rivals are Wal-Mart stores, Home Depot and Costco Wholesale Corp. All of them produce similar products as well as offer almost the same services to their consumers. Naturally, the organization would need a strategy that helps it to stand out and to distinguish it from its competitors, thus, Target 's positioning was based on more than just pricing; it combined quality and style. This was the differentiation strategy that have always been applied since the launch of the organization.
Target must compete vigorously and fairly in the marketplace using our independent judgment to make the best decisions for the Company.
Target Corporation: Report on Long-term Financing Policy and Capital Structure with an Acquisition Analysis Introduction This report will be based on the Target Corporation, and will consist of two sections: 1) long-term financing policy and capital structure, and 2) an acquisition analysis. The first section will include: Target's most recent long-term financing decision; an analysis of the economic, business, and competitive background in which the financing occurred; Target's book value and market value; possible changes that would occur to Target's finance policy and capital structure if it was forced to consider re-organization and bankruptcy strategies; and finally discuss Target's international investment and financing opportunities, as well as foreign exchange risks. The second section will be a report to the board of directors that identifies a synergistic acquisition candidate for Target.
I would suggest that they incorporate more diversity in their ads and campaigns to reach different ethnicities if they want to continue to expand. Also, in stores, particularly the Willow Grove, PA location, is very large and spacious. Upon entering the store it is primarily women’s apparel and accessories, as well as men’s. Maybe the company can incorporate more of its products in this location, to provide consumers with more of a product assortment.
Each company has its own culture that is unique to them. For Target, teamwork is key in order to ensure a fast, fun, and friendly work environment. Target prides itself on creating endless opportunities for its employees to further enhance their professional skills and professional growth. Target recognizes that people are unique and have different views which is why Target creates an inclusive environment for all of its team members. This makes everyone feel valued and overall respected. Everyone feels as though they
1. The Discount Department Store. Target prefers to be called as the latter instead of just department store. Expect more, pay less. With this tagline, the customers expect to purchase more items and pay the least amount possible. Not like other retail industries like its competitor Kmart and Wal-Mart, Target maintains retail value in terms of product offerings. They are known in their designer’s items in clothes, exclusive beauty products, categorized and functional goods, and seasonal offerings. It also sells the greatest number of gift cards among its rival business.
This project belongs in the engineering-efficiency category; therefore, it has to fit at least 3 of 4 performance hurdles, which are 1. Impact on EPS; 2.Payback; 3.Discounted cash flow and 4. Internal rate of return.
The Target Corporation formerly known as “The Dayton Dry Goods Company” is a major retailing company that was founded in 1902 in Minneapolis, Minnesota by George Draper Dayton. It is ranked the second largest discount retailer in the United States and ranked thirty- sixth on the Fortune 500 as of 2013. The Target Corporation has been serving this nation with the best price possible goods since their expansion from “Dayton” and is continuously winning the hearts of consumers with their dedication and service. A phenomenal merchandising strategy and cross channeling has enabled this upscale discounter to serve their purpose of customer loyalty and fulfill their promise of “Expect more and Pay less”.
Case Study of The Home Depot Preface This Essentials of Strategic Management assignment has been made by three persons which have been working together and individually to finish the assignment properly and in time. Secondly, we would like to thank the company whose websites we were able to visit and use, to get additional information that we could use for leading the assignment of Home Depot to a successful ending. We can say, that it was a pleasure to work on this assignment and would, in the third place, like to thank each other. The persons who worked on this assignment, for the effort and time that is put in the assignment, that brought us to this finished version.
This is a point that rings very true. Store development is important, but there are other key features that need to be considered for continued growth
The first priority is to decide which store to purchase and their lower priority whether to invest the two million up front to renovate the stores or to operate the store as is.
Ron Johnson spent a great deal of time and money to promote his ideas of “stores-within-stores” by turning floor space into an area to house several branded boutiques. He did this in order to attract a target market of a wider demographic which includes age, gender, and generation. One of the m...
| |stores serve three primary customer groups: do-it-yourself customers who are completing projects themselves, |
“Flagship stores are stores which are mainly used to showcase the brand of the items and do not fully focus on profits and revenues” (Joy , et al, 2010).ES thought of using these flagship stores as an entry mode especially for strategic locations such as Paris, Beirut and Dubai. These locations had their own importance as they were the hub for fashion house and helped in company’s market development. Apart from flagship stores the company also had direct stores in Beirut and Paris to ensure that it has full control on these stores and could market their products in these stores. “ The advantage of having direct ownership is that this falls under your custody and you don’t have to depend on external agencies to promote your products” (Brondoni and Fabio , 2010). The quality of the product will not be neglected. The other advantage of having your own store is that you don’t have to compromise with the profit margin and its up to you to decide what profit margin you would like to go with for each item. However one of the disadvantages of having direct store ownership is that you will have to bear the overhead cost and at the same time also you may not be having enough knowledge about the local market. Direct stores also involve hiring of right staff, their trainings and
Target Corporation's strategic structure plans are continuing staffing the organization and assemble a well-talented management team. Also, continue recruiting and retaining employees with the needed experience. Another option is to acquire, develop and strengthen resources and capabilities in performing critical value chain activities to match changing market conditions and customer expectations. Target Corporation needs to explore multidivisional or matrix organization structure to facilitate strategy execution, delegate authority, and managing external relationships (Thompson, Peteraf, Gamble and Strickland, 2016).