Katie Huntley Brandman University MGTU 301 Innovation and Industry Assignment 1 Week 2

1. Assignment 1
Katie Huntley

2. Innovation and Industry
Target Brands, Inc. (2015). Target. Retrieved from Target: www.target.com

3. “Expect More, Pay Less”
• 1,934 Stores in the United States and Canada
• 40 Distribution Centers
• 366,000 Team Members
• Online Store
• Apps
• Second largest general merchandise retailer in
America
• CEO: Brian Cornell
Target Brands, Inc. (2015). corporate fact sheet. Retrieved from Target: http://pressroom.target.com/corporate75hGKTZrWkoxKiXDuW-
FJ0RVlXQ&bvm=bv.83829542,d.eXY

4. Mission
Target Brands, Inc. (2015). Mission and values. Retrieved from Target: https://corporate.target.com/about/mission-values/

5. Values
• Design
• Diversity
• Great guest services
• More for your money
• Giving
Target Brands, Inc. (2015). Mission and values. Retrieved from Target: https://corporate.target.com/about/mission-values/

6. History
• First store opened in 1962 in Roseville, MN
• Khaki and red became the trend in 1993
• First store in Canada opened in 2013
• “Bullseye” or “Spot” the mascot came in 1999
T
Target Brands, Inc. (2015). corporate fact sheet. Retrieved from Target: http://pressroom.target.com/corporate75hGKTZrWkoxKiXDuW-
FJ0RVlXQ&bvm=bv.83829542,d.eXY
Target Brands, Inc. (2015). History. Retrieved from Target: https://corporate.target.com/about/history/

7. Target Customers
• Median age of 40
• Median household income of approx. $64K
• Approximately 43% have children at home
• About 57% have completed college
Target Brands, Inc. (2015). corporate fact sheet. Retrieved from Target: http://pressroom.target.com/corporate75hGKTZrWkoxKiXDuW-
FJ0RVlXQ&bvm=bv.83829542,d.eXY

8. SWOT analysis
Strengths
Weaknesses
Opportunities
Threats
“Helps a company determine how to increase internal strengths
and minimize weaknesses and maximize external opportunities
and minimize external threats” (Williams, 2013).
Williams, C. (2013). Management (7th ed.). Mason, Ohio: Cengage: SouthWestern.
Internal
External

9. Strengths
• Brands
• Community contribution
• Credit & debit card
• “Higher-end” store than most competitors
• Exclusives
• Cartwheel phone app
• Commitment to guests, employees & community
• Regular, express & super stores
• Partners with Starbucks
Target Brands, Inc. (2015). About Target. Retrieved from Target: https://corporate.target.com/about/shopping-experience
Target Brands, Inc. (2015). Discover Target. Retrieved from Target: https://corporate.target.com/discover/design-innovation
Target Brands, Inc. (2015). About Target. Retrieved from Target: https://corporate.target.com/about
Target Brands, Inc. (2015). corporate fact sheet. Retrieved from Target: http://pressroom.target.com/corporate75hGKTZrWkoxKiXDuW-
FJ0RVlXQ&bvm=bv.83829542,d.eXY

10. Weaknesses
• Prices not as low as some competitors
• Less stores than competitors
• Recent data breach
• Not as global as competitors
• No layaway
Target Brands, Inc. (2015). About Target. Retrieved from Target: https://corporate.target.com/about/shopping-experience
Target Brands, Inc. (2015). Discover Target. Retrieved from Target: https://corporate.target.com/discover/design-innovation
Target Brands, Inc. (2015). Target. Retrieved from Target: www.target.com
Google Inc. (2015). How many stores does Wal-Mart have? Retrieved from Google:
https://www.google.com/search?q=how+many+stores+does+walmart+have%3F&oq=how+many+stores+does+walmart+have%3F&aqs=chrome..69i57j0l5.
4706j1j4&sourceid=chrome&es_sm=93&ie=UTF-8
Target Brands, Inc. (2015). About Target. Retrieved from Target: https://corporate.target.com/about
Target Brands, Inc. (2015). corporate fact sheet. Retrieved from Target: http://pressroom.target.com/corporate75hGKTZrWkoxKiXDuW-
FJ0RVlXQ&bvm=bv.83829542,d.eXY
Target Brands, Inc. (2015). History. Retrieved from Target: https://corporate.target.com/about/history/
Target Brands, Inc. (2015). Mission and values. Retrieved from Target: https://corporate.target.com/about/mission-values/

11. Opportunities
• Tap into the global community
• Partner with more celebrities, artists, designers,
and companies for Target “exclusives”
• Discounts, clearance and sales
• More Target stores offer Starbucks
• Offering free card monitoring
Target Brands, Inc. (2015). About Target. Retrieved from Target: https://corporate.target.com/about/shopping-experience
Target Brands, Inc. (2015). Discover Target. Retrieved from Target: https://corporate.target.com/discover/design-innovation
Target Brands, Inc. (2015). Target. Retrieved from Target: www.target.com
Google Inc. (2015). How many stores does Wal-Mart have? Retrieved from Google:
https://www.google.com/search?q=how+many+stores+does+walmart+have%3F&oq=how+many+stores+does+walmart+have%3F&aqs=chrome..69i57j0l5.4706j1j4&sourcei
d=chrome&es_sm=93&ie=UTF-8
Target Brands, Inc. (2015). About Target. Retrieved from Target: https://corporate.target.com/about
Target Brands, Inc. (2015). corporate fact sheet. Retrieved from Target: http://pressroom.target.com/corporate75hGKTZrWkoxKiXDuW-FJ0RVlXQ&bvm=bv.83829542,d.eXY
Target Brands, Inc. (2015). History. Retrieved from Target: https://corporate.target.com/about/history/
Target Brands, Inc. (2015). Mission and values. Retrieved from Target: https://corporate.target.com/about/mission-values/
Williams, C. (2013). Management (7th ed.). Mason, Ohio: Cengage: SouthWestern.

12. Threats
• Competitive pricing
• Economic standing
• Computer hacking
• Data breaches

13. Competitors
• Wal-Mart
• K-Mart
• Kohl's
• Rite-Aid
• Walgreens
• CVS

14. Why Innovation is Important?
• “Organizational innovation is the successful
implementation of creative ideas”
• “Creates competitive advantage”
• “Technology cycle transformation”
(Williams, 2013)
Williams, C. (2013). Management (7th ed.). Mason, Ohio: Cengage: SouthWestern.

15. Feet of Innovation
“Stand on Both Feet”
Organizationally & Personally
Eckmann, H., & James, L. C. (n.d.). Two Feet of Innovation. Retrieved from brandman.blackboard.com: https://brandman.blackboard.com/bbcswebdav/pid-
7020008-dt-content-rid-9527663_2/courses/OL-201521-MGTU-301-
OL3/Week%20Two/Documents%20%26%20Resources%20Two%20Feet%20of%20Innovation/Two%20Feet%20of%20Innovation.pdf
https://www.google.com/url?sa=i&rct=j&q=&esrc=s&source=images&cd=&cad=rja&uact=8&ved=0CAYQjB0&url=http%3A%2F%2Flol-rofl.com%2Ffeet-
cartoon%2F&ei=1vW6VLWaLsmcgwT-hIHACA&bvm=bv.83829542,d.eXY&psig=AFQjCNEPXRNZ9Xgs9FnYVzAALfYgEH67fg&ust=1421625178762140
Process
Improvement Innovation

16. Which Foot Does Target Use More?
I think that Target uses both feet of innovation (what they
can do to make their company better & what new ideas
they have to make their company better) equally,
although the left foot I noticed has more on their list.
They do put in the same amount of effort on both feet.
After reviewing their website, they have a good grasp on
both feet, which is what makes them so successful.

17. Feet of Innovation
Left Foot
• Brands only available at Target
• Website upgrades
• Seasonal designs
• Holiday campaigns
• Gaining partners (Designers,
companies, music, artists) to
create “only @ Target”
exclusives.
• Fashion shows
• Self checkout
• Continues to partner with
suppliers who are certified
minority or women owned
Right Foot
• Cartwheel application
• Target “Express”
• 2015 Human Rights
Campaign (Scored 100%)
• Volunteering
• Store Pickup

18. Organizations Culture
“Set of key values, beliefs, and attitudes shared by
organizational members that determines the
accepted way of doing things in a company”
(Williams, 2013).
Target’s product development team travels the
world for ideas and inspiration.
Williams, C. (2013). Management (7th ed.). Mason, Ohio: Cengage: SouthWestern.
Target Brands, Inc. (2014, May 27). never a normal day: an inside look at Target’s Product Development team. Retrieved from Target:
https://corporate.target.com/discover/article/never-a-normal-day-an-inside-look-at-Target-s-Prod

19. Culture of Innovation
• Target stores
• Super Targets
• Target Express
• Guest services
• Diversity
• Mobile Apps
• Website
• Partnerships
• Employee satisfaction
• Committed to the
community
• Mission & Values
• Redcard
• Online sales & cartwheel
• Partnerships and
exclusives
Biggest Initiatives:
• Subscriptions
• Store Pickup
• Cartwheel
Target Brands, Inc. (2015). About Target. Retrieved from Target: https://corporate.target.com/about/shopping-experience
Target Brands, Inc. (2015). Discover Target. Retrieved from Target: https://corporate.target.com/discover/design-innovation
Target Brands, Inc. (2015). Target. Retrieved from Target: www.target.com
Target Brands, Inc. (2014, May 27). never a normal day: an inside look at Target’s Product Development team. Retrieved from Target: https://corporate.target.com/discover/article/never-a-normal-day-an-inside-look-at-
Target-s-Prod
Target Brands, Inc. (2015). About Target. Retrieved from Target: https://corporate.target.com/about
Target Brands, Inc. (2015). corporate fact sheet. Retrieved from Target: http://pressroom.target.com/corporate75hGKTZrWkoxKiXDuW-FJ0RVlXQ&bvm=bv.83829542,d.eXY

20. Work Cited
• Target Brands, Inc. (2015). About Target. Retrieved from Target: https://corporate.target.com/about/shopping-
experience
• Target Brands, Inc. (2015). Discover Target. Retrieved from Target: https://corporate.target.com/discover/design-
innovation
• Target Brands, Inc. (2015). Target. Retrieved from Target: www.target.com
• Eckmann, H., & James, L. C. (n.d.). Two Feet of Innovation. Retrieved from brandman.blackboard.com:
https://brandman.blackboard.com/bbcswebdav/pid-7020008-dt-content-rid-9527663_2/courses/OL-201521-
MGTU-301-
OL3/Week%20Two/Documents%20%26%20Resources%20Two%20Feet%20of%20Innovation/Two%20Feet%20of%
20Innovation.pdf
• Google Inc. (2015). How many stores does Wal-Mart have? Retrieved from Google:
https://www.google.com/search?q=how+many+stores+does+walmart+have%3F&oq=how+many+stores+does+wa
lmart+have%3F&aqs=chrome..69i57j0l5.4706j1j4&sourceid=chrome&es_sm=93&ie=UTF-8
• Target Brands, Inc. (2014, May 27). never a normal day: an inside look at Target’s Product Development team.
Retrieved from Target: https://corporate.target.com/discover/article/never-a-normal-day-an-inside-look-at-Target-
s-Prod
• Target Brands, Inc. (2015). About Target. Retrieved from Target: https://corporate.target.com/about
• Target Brands, Inc. (2015). corporate fact sheet. Retrieved from Target:
http://pressroom.target.com/corporate75hGKTZrWkoxKiXDuW-FJ0RVlXQ&bvm=bv.83829542,d.eXY
• Target Brands, Inc. (2015). History. Retrieved from Target: https://corporate.target.com/about/history/
• Target Brands, Inc. (2015). Mission and values. Retrieved from Target: https://corporate.target.com/about/mission-
values/
• Williams, C. (2013). Management (7th ed.). Mason, Ohio: Cengage: SouthWestern.