Organizations have to keep a tight controls over the amount risk the business is exposed to (Fraser & Simkins, 2010). Exposure to risk incidents have a negative impact on a business in multiple ways. Target stores are in the retail industry. The retail industry employs thousands of employees yearly (Angell, 2011). One risk exposure that can happen in retail with having so many employee is work related injuries. There are many potential store hazards and unsafe employee behaviors that can lead up to an employee being injured while at work. The costs of workers compensation claims have a significant financial impact on the organization. If an employee is injured while working, there will be costs associated with the treatment of that injury. …show more content…
The data will show management when and where work related injuries occur so that they can tailor training activities and policies to prevent those incidents from happening in the future. Target stores should have a enterprise risk management program that will apply to all employees at every store or office location. An effective risk management framework will include a summary of past incident and historical data related to workers compensation claims and incident locations. This information will help management create strategies for prevention and training on safety. Prevention will be the key to reduction of risk exposure for any retail business. Another risk exposure that retail stores face is theft and incident involving violence at the store level (Pearson, 2005). One form of violence that can potentially happen in a retail store is from an unhappy customer. Customer can be dissatisfied about a product purchased inside a store or online or unhappy after an interaction with a store associate. In most situations these incidents end without any type of risk incident or …show more content…
Management should have policies and tracking systems regarding inventory that can indicate if an employee is stealing money or products from the Target stores. Target should allocate a lot of time and resources to theft loss prevention. Theft is not only a financial loss, but it can lead to workers compensation claims and loss of customer loyalty with the brand. It is important that enterprise risk management is aware of potential risks with theft and violence. Training on the store level is the key to minimize the exposure of risk to the entire business. When a store is continuous target for theft or violence, not only will that store lose money the entire company will lose as well. The last type of violence faced by Target store is violence involving employees. The violence can occur because of employees having a personal relationship or the employee is upset about a work related decision. Domestic violence or incidents involving two colleagues that do not get along, can lead to violence involving employees. Management should be proactive identifying potential risk situations so there can be protective measure in place to ensure safety and minimize risk
From the employees’ perspective; they are managed someone with experience in their same specialty who can effectively understand and review their work. Furthermore, they can move up within organization, which gives a reason for them to be loyal to the job. They also have the opportunity to work with others in their field, which allows for knowledge sharing and learning new skills. From the managers’ perspectives; this would make their jobs easier and makes them able to supervise the individual’s performance of their team members to distribute recognition, rewards and punishments accordingly. This has created an environment that hugely corresponds with Target’s core strategy, differentiation. Many of the shoppers have expressed their satisfaction with the services that provided by Target and more specifically with how friendly the staff
Target is an Equal Opportunity Employer and shall not discriminate against any worker based on race, color, age, gender, sexual orientation, religion, ethnicity, disability, political affiliation and national origin. Target will adhere to all laws relating to non-discrimination, wages, hours, working conditions, pension and welfare benefits plans, sexual harassment and other terms and conditions of employment. Discrimination is strictly prohibited.
After the breach, many Target customers refused to shop at their stores due to losing trust in the company. Target’s security breach was not an isolated incident; numerous other companies have faced similar security breaches such as Home Depot, Neiman Marcus, Sony, and this could even happen on your own personal home computer. As a Target cardholder and loyal customer for many years, I believe the company took appropriate actions to notify customers of the breach. Target informed me by email and sent a letter reassuring my information was not compromised. As a valued Target cardholder, I was given the opportunity to apply for the free credit-monitoring program, which I took full advantage of. As an additional measure, Target provided customers with a new online safety feature to monitor suspicious activity by allowing customers to set alerts through email or text when purchases exceeded a specified amount. Consequently, Target is tightening security and making every effort to gain back trust to retain
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.
• The implementation of a safe patient handling program has been shown, at one institution, to reduce workers’ compensation costs by 40% and lead to an increase in employee
Target is one of the America’s top retailers, but still has a few things that can be improved upon before it can overtake its top competitor. Although Target may not be the top ranked retailer at the moment, it’s not hard to see why this company has stood the tests of time and continues to thrive today.
Target business is based on big box centers and supercenters, which are not preferred by many shopper who normally like shopping in small convenience store within the neighborhood.
The main one is the established and loved brand name that is well liked by customers. Along with this, Target has the perception of being a fun place to shop that comes with an experience. Unlike Wal-Mart, Target has the ability to position themselves as a middle class, hip and more fashionable store to shoppers of this generation (Target Corporation SWOT Analysis, n.d.). Target’s weaknesses include tis business model based on supercenters and other big box stores which make it more difficult for them to reach shoppers who appreciate the smaller convenient stores. Along with this, they have been unable to change their business model to adapting times (Target Corporation SWOT Analysis, n.d.).
In December 2013, Target was attacked by a cyber-attack due to a data breach. Target is a widely known retailer that has millions of consumers flocking every day to the retailer to partake in the stores wonders. The Target Data Breach is now known as the largest data breach/attack surpassing the TJX data breach in 2007. “The second-biggest attack struck TJX Companies, the parent company of TJMaxx and Marshall’s, which said in 2007 that about 45 million credit cards and debit cards had been compromised.” (Timberg, Yang, & Tsukayama, 2013) The data breach occurred to Target was a strong swift kick to the guts to not only the retailer/corporation, but to employees and consumers. The December 2013 data breach, exposed Target in a way that many would not expect to see and happen to any major retailer/corporation.
According to Schafer (2013), Target Corporation desire is to improve Target Brand and be a better version of Target with an incremental products and services. Target Corporation acquisitions counter any threat from other rival online retailers and allow Target Corporation to cross promote between Target and the new entity strengthening its
One of Target’s goals is to provide more organic foods. Target is aware of how society is shifting their interest towards organic foods and health. Another one of Target’s goals is to reduce water waste by 10 percent in 2015, whih was met in 2014 by 13.1% (Target Corporate). The company is aware of the possible damage that water waste can cause to the environment and is actively working to prevent them. So far, Target has not had much attention surrounding their social responsibility, but there was one incident in December of 2013 where data of at least 70 million customers were leaked (Target Corporate). This breach allowed criminals to access credit card and debit card information. There is an entire FAQ page on the corporate website answering any questions or concerns that customers may have. Target has recently agreed to a $10 Million settlement in the lawsuit that came after the data breach, in which people will have to provide proper documentation showing their losses during the hack (Parks). Despite this compensation, some customers may not be comfortable shopping at Target
Workers in the Truss Construction shop have been upset about what they describe as unsafe working conditions and the company’s failure to accept responsibility. In addition, the workers have contacted OSHA, and leaked information to the local newspaper which has caused unwanted publicity, and may have jeopardized sales. The primary reason for the analysis is to prevent the recurrence of similar work related injuries. A work injury analysis is not a mere repetition of the worker's explanation of the injury, but includes the evaluation of the facts, physical evidence, existing records, opinions, and the statements of the affected employee and witnesses. It involves identifying the causal factors and provides recommendations for corrective action to be taken to prevent the recurrence of similar injuries.
Most importantly, increased safety in the workplace can lead to fewer workplace injuries and casualties. Workplace health and safety issues are different today than they were at various points of time in Canadian history. Employers are not responsible for injured workers or accidents that happen in the workplace. The main legal doctrine of Assumption of Risk governs workplace hazards, which requires workers to assume and accept all the risks associated with their occupation (Share, 2012).
Accidents occur in the workplace but in secret. These most of the time lead to physical and mental injuries that might affect the worker way of living for the rest of their lives. It is estimated that more than 337 million workers get injured in their place of work or in the course of work every year leading to work-related diseases causing about 2.3 million deaths per year (United States Department of Labor, n.d.).