IndexIntroductionContextMarket analysisIndustry and competitionStrengths and weaknessesOpportunities and threatsCorporate policies and proceduresPublic policyLabor and human rights policyCode of ethicsStructure of financial organizational strategyConclusionIntroductionTarget Corporation is a chain of retail stores in the United States. They offer a variety of items, such as household essentials, food, pet supplies, office supplies, clothing, accessories, and home decor. This section will provide general information about Target Corporation, as well as its objectives, which highlight its mission and values. Say no to plagiarism. Get a tailor-made essay on "Why Violent Video Games Shouldn't Be Banned"? Get Original EssayBackgroundTarget Corporation was founded in 1902 by George Draper Dayton. Originally from New York, Dayton decided to explore the Midwest markets. After a few years, he purchased a piece of land in Minneapolis and founded the Dayton Dry Goods Company, now known as Target Corporation. His store became known for reliable merchandise and fair business practices. Dayton operated the store until his death in 1938, when his son and grandchildren took over and continued to grow the company into a nationwide retailer. In 1961, The Dayton Company reveals plans to form a new discount chain. Stewart K. Widdess, the company's director of advertising, is tasked with naming and defining the new chain. They eventually come up with the name Target, with the reasoning "Since a shooter's goal is to hit the center of the target, the new store would do more of the same in terms of retail goods, services, community commitment, price, value". and overall experience." In 1962, the first Target store opened in Roseville, Minnesota. Today, Target Corporation is ranked as the eighth largest retailer in the United States and the eleventh largest in the world. They are also ranked as the 10th largest employer of largest private business in the United States, 89th on the list of the world's most valuable brands in 2017, and 53rd on Forbes' Just 100 list. Not only are they profitable, but Americans believe the company pays workers fairly, treats customers well, produces quality, and gives back to the community. In June 2016, the Target Stores Mission Statement, which Target calls its “Purpose,” is: “We meet the needs and. We fuel the potential of our guests. That means making Target your favorite shopping destination across all channels by delivering exceptional value, continuous innovation and exceptional experiences, consistently delivering on our Expect More.® brand promise. “Along with the mission statement, Target's leaders and employees also follow six core values, which are also the objective goals of the company. It refers to them as “What We Believe.” Market Analysis In this section the Industry, Competition, Strengths, Weaknesses, Opportunities and Threats for Target Corporation Industry and Competition Target Corporation is a discount retail store that offers a variety of products at a lower price than similar companies at Target are their competition, the two biggest ones being Walmart and Costco Wholesale. The discount retail industry in general has to compete with online shopping sites like Amazon Since they rely on outside suppliers for their products , they have to compete with Amazon, which offers more convenience to suppliers and comparative prices Strengths and Weaknesses Target Corporation has many strengths, beingone of the largest retailers in the United States. Indeed, this is one of the strong points; its strong presence in the United States gives the company enormous purchasing power, allowing it to command lower prices on items. Another selling point is that Target offers different products than other retailers, creating loyal customers. Target is dedicated to style beyond affordable prices, and has partnered with famous designers and retailers in the past. By presenting themselves as more passionate, they were able to attract a younger audience, which is difficult for other similar retailers, such as Walmart, to do. Finally, Target Corporation has a loyalty program, REDcard®, which will help attract repeat customers and provide business security. Target Corporation also has some weaknesses. Much of Target's merchandise comes from foreign countries. Dependence on these suppliers is risky, as any changes in political conditions and the global economy can affect supplies and therefore revenue. Additionally, Target has failed to integrate with companies with different work cultures, although they have no problem merging with small companies. Opportunities and Threats There are many opportunities for Target Corporation. As one of the largest retailers in the United States, Target is looking to expand further by opening as many stores as possible in larger cities across the United States. They also acquired new customers from their online marketplace. Recently, the company has invested a lot of effort and financial resources in developing its online platform. Since e-commerce has been a huge area of ​​growth in recent years, Target is equipped to take advantage of this market. Threats to Target Corporation include an overlap in products offered by Target and its competitors, the growth of online shoppers, rising labor costs, and the absence of a regular supply of innovative products. Many of the products Target offers are also available in its competitors' stores. This puts pressure on item prices and may force them to increase. The growing number of people shopping online poses a threat to many brick-and-mortar retailers. Although Target has also ventured into an online website and app, it still has stiff competition like Amazon. The increase in labor costs in recent years causes overall costs to increase and affects the company's profitability. Finally, Target doesn't have a regular supply of innovative products, which is a problem. Over the years, many of their products are a response to the products that the competition is putting out. The supply of new and innovative items is random and over time leads to spikes and dips in the number of sales. Company Policies and Procedures Company policies and procedures establish the rules of conduct within an organization. They describe the responsibilities of employees and employers and help protect workers' rights and employers' business interests. Public Policy The public policy of the target company is listed in civic activity in corporate responsibility. They believe that engaging in legislative and public policy activities allows them to become a more diverse retail business. Target works with officials from both political parties to shape public policy solutions that will help improve their businesses, teams, customers and communities. They aim to align their public policy activities with their business interests and maintain transparency. Maintenance of this policy is overseen by Target's Nominating and Governance Committee on the Board of Directors. They also have.