Target's International Expansion to Panama Essay

Target's International Expansion to Panama Essay

Length: 2745 words (7.8 double-spaced pages)

Rating: Better Essays

Open Document

Essay Preview

Target Corporation is among one of the largest retailers in US with its headquarter located in Minneapolis, Minnesota. The company is recognized within the top 500 most valuable brands as of 2012 as well as the top 25 retail brands in 2012 (Target Corporation SWOT Analysis, 2013). Target took birth on May1, 1962 as a “new idea in discount stores”. Gregg W. Steinhafel is the current chairman, president and CEO of Target (www.corporate.target.com). The company has a vast product offerings such as- household essentials, including pharmacy, beauty, personal care, baby care, cleaning, and paper products; hardlines comprising music, movies, books, computer software, sporting goods, and toys, as well as electronics that consist of video game hardware and software; apparel and accessories, such as apparel for women, men, boys, girls, toddlers, infants, and newborns, as well as intimate apparel, jewelry, accessories, and shoes. It also provides food and pet supplies, including dry grocery, dairy, frozen food, beverages, candy, snacks, deli, bakery, meat, produce, and pet supplies; and home furnishings and décor, such as furniture, lighting, kitchenware, small appliances, home décor, bed and bath, home improvement, automotive, and seasonal merchandise comprising patio furniture and holiday décor (www.finance.yahoo.com). It has 1,921 stores with an approximated labor force of 361,000 fulltime and part-time employees. Target reported revenue for 2012 was $73,301 million with a 6.1% increase in total sales (www.investor.target.com). Targets global expansion limits to India and Canada for now with 37 distribution centers. It is also aggressively penetrating the online market via offering its products and services on the official website. (www....


... middle of paper ...


...ional division coordinates and monitors overseas activities and reports directly to the CEO on these matters” (Luthans & Doh, 2012).
Conclusion
Overall, Target is financially stable and it has the capacity to invest in an international expansion project. Also as we examined, Panama its currently in a position of economic growth, and embraces foreign investment. Even though the American culture is different from the Panamanian culture, we are confident that with the recommendations, Target will be able to succeed in Panama. Specially, if they hire the local legal and marketing team, which will help them infiltrate the market and use their business model as a competitive advantage.
We are aware that there are limitations to the data that we used. However, we are confident that the data is valid and useful to assess the company, the country, and our recommendations.  

Need Writing Help?

Get feedback on grammar, clarity, concision and logic instantly.

Check your paper »

International Expansion: A Feasibility Study Essay

- INTERNATIONAL EXPANSION: A FEASIBILITY STUDY INTRODUCTION The marketing team of International Consultants Inc. (ICI) began an analysis of the feasibility of expanding the sales of American Training Incorporated (ATI) products into international markets. Mexico and Canada appeared to be the logical initial markets; however, the study showed that other Latin American country should also be considered further The marketing team determined strategies and media for advertising the products in each of the prospective countries, as well as locations of sales....   [tags: Business Analysis]

Better Essays
908 words (2.6 pages)

The Banking System Of Panama Essay

- The banking system in Panama makes use of the advanced modern technologies. In Panama City, there are approximately 100 internationally renowned banks. The presence of strict regulations regarding the banking sector by the government has seen the banking sector grow tremendously (Arboleda & Martín 152). For instance, the Panamanian government has come up with strict banking rules and guidelines, to scrutinize all the banking practices so that the banks can give good banking services to all people....   [tags: Bank, Finance, Panama, Central bank]

Better Essays
1275 words (3.6 pages)

Essay On The Panama Canal

- The history of the Panama Canal is a very important topic in history that shows many different examples of conflict and compromise with the ownership and use of the canal. The Panama Canal is a sea-level canal that goes through a small section of the isthmus of Panama, connecting the Pacific and Atlantic Oceans. The canal was built to allow passage across the Americas instead of traveling all the way around South America. The strategic location of Panama and its isthmus attracted the attention of many different countries including France, America, and Columbia....   [tags: Panama Canal, Panama, Panama Canal Zone]

Better Essays
888 words (2.5 pages)

Essay on The History and Future of Panama

- Bridging two continents and two oceans, the international crossroads that is Panama has created a massive cultural diversity that has continued to grow for over 500 years. To understand Panamanian culture one has to explore not only its people but also its significant location, and the importance of its canal in fostering business and trade with the countries of the world. The United States has also had a close, stake in the success of Panama for over a century. This partnership continues today and Panama plays a vital part in the success of U.S....   [tags: Panama Essays]

Better Essays
2662 words (7.6 pages)

The Expansion Of Business Organizations Into International Markets Essay

- In order for a business to be successful in international markets it is imperative to research the rationale that supports the expansion of business organisations into international markets. This includes studying important market research through primary and secondary sources, analyzing the different customer buying habits through out international borders, and also comparing different international cultures. Furthermore, examining the processes and methods of inward and outward investment is crucial when understanding foreign and domestic markets....   [tags: International trade]

Better Essays
1211 words (3.5 pages)

Overview of the Republic of Panama Essay

- Beautiful Panama Panama is a country full of beauty with a vibrant culture. In Panama there are a lot of things to see, do, and eat. Panama’s is official name is the Republic of Panama. The capital of Panama is Panama City. This country is located in the in the southernmost part of Central America. It is bordered by Costa Rica to the west and Colombia to the southeast. It also has the Caribbean to north and the Pacific Ocean to the south. Panama is one of the countries that were explored and settled on by the Spanish in the 16th century....   [tags: spanish colonization, panama canal]

Better Essays
1287 words (3.7 pages)

Panama History and Culture Essays

- Panama History and Culture The culture and political structures of Panama as we know it today has evolved from an incredibly diverse and interesting history. Geographically, Panama lies on an isthmus, a strip of land that essentially connects the greater landmasses of North and South America. It is believed that volcanic activity in the late Pliocene era closed the former Central American Seaway that had separated the two continents. The climatic implications of this landform are incredible, allowing for the redistribution of oceanic currents and the formation of the Gulf Stream of the Atlantic of today....   [tags: Panama Historical Cultural Essays ]

Better Essays
1384 words (4 pages)

Clothing, Shelter and Transportation in Panama Essays

- Clothing, Shelter and Transportation in Panama Panama, a small country located in Central America, is very diversified in both its people and its climate. Considered to be the isthmus connecting South America to North America, Panama has played a key role in global transportation since the creation of the Panama Canal. The canal goes through the midsection of the country connecting the Atlantic and Pacific oceans, allowing for much faster sea travel. Because of its location, Panama has been heavily influenced by several countries including Colombia which they were ruled by until 1903 and the United States which played such a large role in the realization of the canal....   [tags: Panama Culture Region Essays Papers]

Free Essays
1230 words (3.5 pages)

Food and Agriculture in Panama Essays

- Food and Agriculture in Panama Agriculture is big business in Panama. Not only does it account for much of the country's exports (over 50%), but subsistence farming still employs many Panamanians who only grow enough food to feed their families (nationalencyclopedia.com). The main crop in Panama is bananas by a large margin, and is also one of the countries largest exports. Besides bananas, the other main exports are sugar and coffee beans, while the largest domestic crops are corn, rice, cocoanuts, tobacco and the exotic root vegetable yucca (Bennett 78)....   [tags: Panama Farming Agricultural Essays Papers]

Better Essays
1030 words (2.9 pages)

Target Essays

- Our group, upon much deliberation, decided to conduct our research on the Target Corporation. This decision was based partially on the interesting class presentation done by one of its Wisconsin store managers, and also a genuine interest in the company. We have all been to a Target store or one very similar in our lives. A great number of Americans shop there on a weekly or bi-weekly basis, purchasing anything from a loaf of bread to a flat screen television. The broadness of its product and the way they conduct their business is what first appealed to our group....   [tags: Case Study Business Target]

Free Essays
1627 words (4.6 pages)