Target Corporation Case Study

External Environment and Competitive Position: Any business and its corresponding market position are affected by a change in the economy, government policies, community it serves, market segment, and the corresponding industry. These are external macro environment factors and the competitive nature has effect on the business. It is therefore necessary for any business to monitor the changes in the business segment and forecast the trend as part of its strategic planning.
In order to develop a strong strategy to position Target Corporation competitively, it should understand the current environment, its competitor and their strengths and weaknesses, and any of their planned moves (CEA, n, d). Target Corporation needs to take its retail trade strategy into consideration of the external environment and to establish long term market needs. Further, it can take advantage of its strength such as high product differentiation, quality supply chain, technology used for automation, quality product, clean and spacious friendly stores to develop its retail sales to the future consumer and market need that will
Gathering information is needed to know more about what is happening to the surrounding and develop strategy appropriately. The information required for analysis is gathered by a general observation of scanning the change in the environment, pay attention to the developments by closely monitoring the environment that will have impact to the organization, and take action based on what competitor are doing. The outcome of the analysis keeps in line with the long term time frame of three to five years for a particular industry that enables the strategic road map across the corporation for the long term