Target Corporation is an American retail company that operates stores in 49 U.S. states selling a variety of products. It aims to provide customers with differentiated products at lower prices than competitors. The company was originally founded in 1902 and has grown to become the second largest discount retailer in the U.S. Target creates value for customers by striving to offer quality products and services at fair prices consistently, while maintaining high ethical standards and a diverse workforce in order to fulfill its corporate social responsibilities.

1. Target Corporation
Corporate Profile Module I: 1) Introduce your company. what does it do? How did it get
started? How does it aID value? Who are the customers it competes for? What risks confront
the company? What type of business is it-goods-producing or service? What industry does it
operate in? What is it knowe for? Write an opening paragraph that engages your reader
from the outset! 2) State its mission, vision, and values. Define these terms using the
definition from Bovee and Thill. The mission: Most companies state their mission on their
websit. Use your company’ s own words in your paper. The vision: You may have difficulty
finding a statement of you company’ s vision; if you can’ t find it, you should state the
vision in your own words based on what you have read about the company’ s philosophy
and values on its website. 3) Analyze your company’ s mission statement. Is it just “ vague
happy talk” or does it really say why the company exists?Corporate Profile Module II: 1)
Discuss corporate ethics. Define business ethics. How does your company approach
corporate ethics and what guidelines does it set forth? Does it adhere to what it says? 2)
Discuss the concept of “ Corporate Social Responsibility. ” Who are the company’ s
stakeholders? How does your company fulfill its responsibilities to its primary
stakeholders-owners, employees, and customers? What approach does it use to CSR-
Minimalist, Cynical, Defensive, or Proactive? 3) Discuss workforce diversity. Define this
concept. Why is workforce diversity important? How does your company obtain or try to
obtain a diverse workforce? Does it have a diversity policy? What evidence do you find that
your company carries out ( or fails to carry out ) its policy?Corporate Profile Module III:
Discuss the marketing concept and why it is important to a business. What factors in the
external environment affect your company? (Cosider economic conditions, the natural
environment, social and cultural trends, laws and regulations, and technology-p. 293 of
Bovee and Thill.) who constitutes your company’ s target market? What market-coverage
strategy does your company use-undifferentiated, differentiated, concentrated, or
micromarketing?) what media does it use to communcate the company’ image and
marketing message?Globalization 1) why do companies engage in international trade? (pp.
49-50) Is your company “ global” ? If it isn’ t, why do you think it has chosen to remain
purely domestic? 2) If it is global, what cultural and legal differences does it encounter in
the global business environment? (pp. 58-61) 3) what form of international business
activity does it engage in? (pp. 62-64) 4) Which strategic approaches does your company
use? (pp.64-65) 5) If your company does not engage in international business activity, what
country do you think would be good for your company’ s expansion, and what strategic

2. approach would you suggest? 6) if your company does have international operations, do
you think the selected strategy is working? Would you change anything about your
company’ s strategy?Corporate Profile Module IV: Google finance and Yahoo finance are
excellent resources for your discussion of the financial performance of your company.
Comparisons to other companies in the industry will serve to enhance your paper. Follow
your class finance notes for this section. 1) Describe your organization’ s financial
performance. Insert the financial tables as explained in class. 2) Include and describe the
Value Line report for your company. 3) How would you evaluate your company’ s
performance? 4) What are the prospects for future performance? 5) Perform a brief SWOT
analysis on your companyYou can use tables to summarize the data in this
section.Corporate Profile Module V: 1) find an article ( or multiple articles) that discusses an
important issue currently facing your company. 2) How do you think your company is
positioned for the the future? Is your company an industry leader who will continue a
position of leadership? Is your company losing market share? Look into the future and
predict how your company will perform in the next five years with some justification for
your answer……………….……………………………………………………………IntroductionTarget Corporation
an American retail company ranks second after Walmart in the discount chain of retail
companies. It operates stores in 49 states in the United States and is considered to be one of
the market leaders in the retailing industry (Hoovers 2011). Customers of the retail
industry are no longer looking for cheap products rather, they expect suppliers to supply
chic but fair priced products. Target is regarded as one such retail company that endeavors
to supply customers with differentiated products at low costs than its competitors (Target
2011).The subject matter of the essay is to create a complete corporate profile of Target
Corporation and this will range from: Its history, formation, mission, vision and values,
corporate ethics and social responsibility, marketing, international trade, among
others.History and Formation of Target CorporationOver the years the company has
evolved tremendously since the first business began. Its history dates back to 1902 in
Minneapolis when the Dayton Dry Goods Company was first formed. Real investor and
Banker George Dayton bought shares of the Goodfellow’ s Dry Goods Company to form the
business. Because it dealt in a variety of goods and services its founder George Dayton
changed the name to Dayton Company, to show that it did not deal in dry goods alone. In the
years to 1962 the business operated as Dayton Company before it changed its name to
Dayton Hudson when the first concept of target was created. However some years later,
after many target stores which emphasized on upscale discounting had been established,
the company name was changed to Target Corporation in 2000 (Target 2011).Target
Corporation’ s headquarters are in Minneapolis close to the place where its original stores
were located. It is known for being the second largest store in the retail industry after
Walmart which is also its main competitor. It is known for providing customers with
upscale products for fair prices as compared to competitors, and Fortune magazine ranked
it at number 30 for being among the best companies (Hoovers 2011) in America.Target
Corporation’ s stores range from their conventional target stores which carry a variety of
products which mainly include electronics, health, clothing, beauty, kitchen, automobile,
and hardware products. It also sells groceries which are mostly non perishable but in

3. limited amounts (Target 2011). PFresh stores which mainly retail perishable, dairy and
meat products. Target Greatland stores which also contain general merchandise, Super
Target stores which sell merchandise that can be found in the target stores, and a wide
selection of groceries. It also operates as a service company through its subsidiaries where
it provides services such as financial services and interior decoration services (Target
2011).When it comes to value creation, Target creates value for its customers by constantly
striving to offer customers that combination of quality and differentiated products or
services at low prices (Target 2011). This is likely to satisfy customers while making them
view the company as the ultimate value creator. Customer value creation is a strategy
consistent with its long term goals of shareholder wealth maximization.Even though Target
enjoys its large scale presence In the United States and in Canada due to its recent
international development, it is faced with a major risk of negative publicity because of the
rumored low wages that it pays its employees. More risks facing the company include
concerns about its corporate ethics and social responsibility.Target’ s Mission, Vision and
ValuesMissionA mission statement describes the overall and unique purpose for a
company’ s existence. It basically states what the company is all about, who the customers
are and what values it deems important (Kotler and Armstrong 2011). Target’ s mission
states “ to make Target the preferred shopping destination for our guests by delivering
outstanding value, continuous innovation and an exceptional guest experience by
consistently fulfilling our Expect More – Pay Less brand promise” . It is committed to
improving its operations and also to improve its customers’ experience (Target
2011).VisionA vision statement gives the details about where the company wants to be in
future. It is from the vision statement that a company derives its mission statement which is
intended to drive it to that future state (Kotler and Armstrong 2011). Target’ s vision is to
be the best retail store in the world, offering its customers unique and quality products and
services that should ultimately satisfy every customer and make them see value for the
purchases they make.C. ValuesValues represent those principles that guide a
corporation’ s conduct when dealing with its internal and external stakeholders. They are
the beliefs that the company holds dear and they help to form an organizational culture
within the company (Kotler and Armstrong 2011). Values that Target incorporates in
conducting its business include; high ethical standards, professional and personal integrity,
delivering quality products and services at fair prices, respect for customers, customer
satisfaction, building trust among customers, among others.D. Analysis of the Mission
statementA mission statement should be concise and comprehensive. It should have
meaning attached to it and should not be used solely for public relations exercises (Kotler
and Armstrong 2011).In order to work towards achieving its vision, Target’ s mission
provides the guidance needed to reach that future state. It has gown fast to become one of
the largest retail stores in the United States, serving customers promptly by delivering
products and services to meet their expectations. Even though it sometimes experiences
difficulties in attaining the performance levels it sets, it manages to turnaround and make
the most from its stores. The pressure from competitors also makes it come up with ideas
about how to continuously improve their products so that customers are fully satisfied. This
shows that it works in accordance to its mission’ s requirements and uses it to measure its

4. progress towards customer satisfaction.Corporate EthicsCorporate ethics refers to the
application of principles of morality in the day to day activities of the business (Vilcox and
Mohan 2007, p. 1). Companies that are ethical must satisfy the three levels of ethics, that is,
the macro, corporate and individual levels of ethics.Macro level business ethics relates to
those standards that a corporation must satisfy on a national and international scale. That
is, doing good or behaving morally right when faced with political systems of countries in
which it operates in and observing the culture of those countries. Basically it refers to the
role of a company when dealing in an international scale. Corporate level business ethics
are those standards that a corporation should observe when working towards achieving
their strategic objectives. Individual level ethics refers to the behavior of individual persons
within the organization that determine whether it is behaving ethically or not (Vilcox and
Mohan 2007).Target approaches corporate ethics by encouraging its staff and the leaders to
work towards putting its values in action, to be the world’ s most ethical retail stores. It also
encourages everyone to follow suit on the practices of the Dayton brothers when they were
company leaders. To ensure that this is the case it has established very firm processes and
policies, with a complete governance structure of board of directors to ensure that all
individuals within the company observe business ethics (Target 2011). It has also
developed a section on its website that specifically deals with its issues of corporate
governance and ethics where it gives detailed information on how it works towards
achieving high standards of ethics. It has also received awards for being the most reputable
and admired company, this is a true reflection of its efforts in observing corporate
ethics.Corporate Social ResponsibilityFor companies to prove to society that they are
observing business ethics, they need to be socially responsible. Corporate social
responsibility therefore means that a corporation should maintain moral standards in
dealing with its stakeholders in order to enhance their welfare and at the same time respect
their rights (Vilcox and Mohan 2007, p. 5). Being socially responsible ensures that the
company lives peacefully within its society because it is through such responsibility that
society forms an informed opinion about any company.Corporate social responsibility also
means observing the triple bottom line and working towards sustainability development, so
that the needs of all stakeholders in society and not just the needs of the shareholders are
met. Other stakeholders in this context include the employees, customers, regulators,
government, and the environment, among others (Vilcox and Mohan 2007).To some
shareholders, companies that engage in corporate social responsibility are depriving them
of their right to wealth maximization, however, at Target Corporation; corporate social
responsibility is a way that enables it to do well while doing good to its shareholders. The
company therefore releases annual CSR reports to show how they have fulfilled their
responsibilities towards their stakeholders (Target2011).Responsibility towards primary
stakeholdersTowards OwnersTarget’ s responsibility towards its owners is to maximize
their wealth. Target does this by using its resources in the most efficient ways. Also it
realizes that in doing good to society it is able to continue doing well in terms of its
profitability. This is because when a company’ s mission becomes to satisfy customers, they
respond by making purchases and this provides the means by which the company makes
profits (Vilcox and Mohan 2007).Towards Employees To show its responsibility

5. towards its employees, Target hires individuals with talent and commits itself to giving
them the best training, and rewarding them appropriately in order to gain their trust, and in
order for them to use their skills and experiences in furthering the company’ s interests
(Target 2011).To improve their employees’ value proposition, the company incorporates
its corporate values in its human resource planning. Employees are allowed to exchange
their experiences at Target and this motivates employees to engage in fulfilling the
company’ s mission (Target 2011).Towards CustomersTarget’ s responsibility towards its
customers is to ensure that they are always pleased with what the company has to offer
them. Therefore the company ensures that all its products are safe for the customers to use.
It also ensures that it strives to improve them continuously so that the customers are paying
to get products and services that meet and exceed their needs. The company also ensures
that its stores are safe so that customers are free from accidents that might occur while
shopping (Target 2011).Target’ s Approach to Corporate Social responsibilityTarget uses
a social contract approach to CSR, because it believes that it is through doing good for the
society that it is able to do well in terms of its performance. It engages in programs that are
aimed at improving the health and safety of communities and being philanthropic to society.
It has even been ranked at number 22 by Fortune magazine for being a philanthropic
company. It does everything to avoid all other approaches that undermine the society
especially the minimalist approach which puts the interests of shareholders above those of
other stakeholders (Target 2011).Workforce Diversity Workforce diversity refers
to appreciation of those attributes that make individuals within an organization unique
from each other. It involves creation of policies and practices which take into consideration
people within the organization that are said to be different from the rest (Harris 2009, p.
2).Workforce diversity is important because, through it a company is able to show that it is
socially responsible by including people within the society who are disadvantaged. It allows
companies to have a competitive edge because, for them to be competitive they need to
prove that they do not discriminate on people and their practices. Legally companies are
required to show that they do not employ people on discriminatory grounds and these
policies show that they comply with such requirements (Harris 2009). Workforce diversity
has proved as an effective tool in marketing because such employees offer important
insights on what the different communities expect from companies. Further a diverse
workforce is a true reflection of the diverse customer base that a company has.At Target
Corporation, diversity is more than a requirement of the company; it is a core value in the
company and it is the company’ s way of life. It has specific policies that deal with
workforce diversity and it ensures that it is part of the business’ human resource planning
process. This is because it strives to represent to the whole world the kind of people it
works with and the customers that they work towards satisfying (Target 2011). Evidence
that Target implements its workforce diversity stems up from awards it has won for
including people from multiple backgrounds in its workforce, and for developing supplier
relationships with women owned businesses and minority vendors (Target
2011).ConclusionTarget strives to abide by what its mission states in order to reach its
vision that is to be the best retail store offering quality products and services for its
customers. It also ensures that it practices business ethics from all perspectives by having

6. strict policies that emphasize on ethics. Further it realizes that social responsibility is a
requirement if it has to live in good terms with society and for it to have long term
profitability.MarketingThe marketing conceptUnlike the selling and production concept,
the marketing concept emphasizes on the customer. That is, before a company can embark
on producing products, it has to first identify what its customers need and desire of a
company’ s products, and afterwards it can produce the products and then sell them to the
customers (Drummond and Ensor 2005, p.1). The end result should be satisfied customers
who are willing to make repeat purchases if not convincing other to purchase a company’ s
products.Where companies have to develop profitable relationships with customers,
marketing proves to be an essential tool. Marketing is aimed at making customers aware of
the products and services that the company has to offer and also shows how the company
intends to meet customers’ needs (Kotler and Armstrong 2011, p. 4-5). The marketing
concept is therefore important for businesses that want to establish good relationships with
customers and which intend to have long term profitability.Marketing at
Target CorporationExternal Factors that affect the company Assessment of the
external factors in the market environment that affect Target constitute the market
research that it needs to carry out in order to satisfy itself that its marketing efforts are
targeted at the right customers. Also it helps to ensure that the company comes up with the
required marketing strategies which will eventually lead to successful marketing
(Drummond and Ensor 2005). These external factors include:Economic conditionsRising
standards of living in America is one of the major economic changes that occur and affect a
company’ s operations. The US economy is also occasionally faced with periods of
recessions, which makes companies reduce prices so that they can continue making
substantial sales. Target has managed to keep its prices at a fair rate and still have its sales
increase over the years to 2011 (Target 2011).Natural environmentThe natural
environment which includes resources used in production of products, water that occurs
naturally and climatic changes, are a big influence on a company like Target’ s market
environment. For instance, while planning on how products will reach customers, climatic
changes should be considered as incidents such as heavy rainfall and storms can delay
product delivery to the desired destinations, and this may affect service delivery to
customers.Social and cultural trendsAnalysis of the social and cultural trends is vital
because companies need to know what their customers’ culture is all about. For a retail
store the demands of society will mainly include its ability to sell products at affordable
prices. This is unlikely to affect Target Corporation’ s pricing strategies as it already sells its
products for lower prices than most of its competitors (Target 2011).Legal
requirementsLaws and regulations governing companies also change as time goes by.
Environmental laws for instance can influence how a company does its product packaging,
which is a major influence in appealing customers (Drummond and Ensor 2005). Target so
far does not have any problems with packaging products because they mostly retail them
rather than manufacture. However, laws relating to what can be advertised to the general
public can influence their marketing
strategies.Technological advancementsAdvancements such as new production methods
are likely to impact on the marketing strategy of a company (Drummond and Ensor 2005).

7. Where the company uses sophisticated methods of production, it is likely that its marketing
efforts will be vigorous to ensure that more people are aware of the effort it takes to
provide quality foods. Target uses online resources to market products to customers, and to
ensure that each customer’ s demands are met it uses customized search engines. The
company however needs to be constantly aware of any changes that may occur in
technology so that the products are always up to date.The Market and marketing
strategies used at Target corporationTarget Corporation’ s targets many customers
because of the many products it sells to them. It therefore needs to target each age group
and gender that is interested in buying its products. People are always demanding one
product or the other from the company, be it kitchen appliances, automobiles, or even toys.
Because of this wide target market the main strategy used by the company is a combination
of differentiated and low cost strategies, where it strives to offer better services to
customers than competitors can (Hoovers 2011). As a differentiation strategy, it introduced
the groceries section in most of its stores so that customers can have a chance to purchase
groceries without worrying about when they will pass by the groceries stores as is the
culture of most Americans.The main form of advertising media that the company uses is the
television because through it more people become aware of what it has to offer. It also uses
radio advertising and newspaper advertising to ensure that everyone has access to
information about the company (Target 2011). Internet advertising is also a major form of
advertising that it uses.Globalization Globalization is the process by which people
interact with others around the world without any restrictions (Steger 2010, p. 48).
Globalization can be viewed from several dimensions, that is, in terms of cultural, political,
technological, ecological, and economic globalization. A global economy involves a situation
where companies in one country are allowed to trade freely with others across the globe,
thus the concept of international trade. Economic globalization is possible when
international trade is encouraged through reduction of trade barriers such as import
quotas, tariffs and export charges (Steger 2010, p. 49).Companies engage in international
trade because they want to increase their sales through finding new markets for their
products and services, continue to have sustained competitive advantage, minimize
incidents of risks such as cyclical and seasonal effect on sales, and also to obtain resources
that they are deficient in (Steger 2010, p. 50).Target has not yet established itself fully as a
global company because it only ventured to Canada recently and it is yet to see whether
operating as a multinational company is a viable strategy to them (Target 2011). The main
reason for establishing operations in Canada was to have its presence felt on a large scale so
that it continues to have a competitive edge in the retail industry. Target Corporation chose
to expand its operations to Canada because most of its non American customers are the
Canadians. Further over 70% of Canadians were aware of its influence in the American
states and would therefore serve as a better aIDitional market to them. In Canada, it sells
the same products and services that it sells to its American
customers.Strategic approaches used by Target in GlobalizationIt is not clear which
strategy Target Corporation uses in Canada because of the recent expansion, but it should
use a multinational strategy for Canada and future expansions, because of the nature of the
business it deals in. This is because the parent company will have the final say in decision

8. making and financial management while letting the subsidiaries manage their own
marketing and sales strategies (Steger 2010). To support their global strategy, Target
will also have to use different business strategies depending on where they choose their
operations. This is because using the same strategies worldwide without consideration of
the markets may be disadvantageous if it wants to expand its market and make profits
(Hoovers 2011).Comments on the strategy usedOther generic strategic options available
to Target would include:Franchiser strategy where creation and design of products is done
and financed in the home country but they are later produced and marketed in the host
countries, this is usually recommended for companies in the fast food industry because
their products are perishable and can not be produced solely in the home country. A
domestic exporter strategy means that it has to centralize all its operations to take place in
the United States; this strategy is mostly suitable for companies in the heavy equipment
category. A transnational strategy on the other hand will mean that the company will have
to adopt a global standpoint that does not work in accordance to national borders (Steger
2010). Target has not yet reached that point where it can operate without associating itself
with the American way of life.Looking at these challenges that the other global strategies
pose for Target it is best that it uses the Multinational strategy as its goods are neither
perishable nor are they heavy equipment.Cultural and legal constraints that Target could
encounter in its global operationsCultural constraintsSince Target has decided to go
international it is best that it adopts the Canadian culture while operating there. This is
because, according to some countries imported cultures are known to erode the ways of life
of their people and bring confusion among individuals instead of harmony (Steger
2011).Legal constraintsIt is important for Target to adopt and abide by the laws of Canada,
and those of other countries in case it expands to other parts of the world, to avoid
problems with legal bodies. It will have to ensure that it does not violate environmental,
labor and taxation laws as these are some of the laws that multinationals commonly violate
(Hoover’ s 2011).ConclusionTarget engages in thorough analysis of its market environment
to ensure that its marketing strategies are aimed at its customers and so that they create
value for them. It uses a combination of low cost and differentiated strategies for different
customers who visit different stores in the United States to ensure that they get the best for
the money that they are willing to pay. It has also recently expanded operations to Canada
to further its market so that sales are increased and so that it always has a continuous
market for its products.Target’ s Financial PerformanceStatement of financial position
as 31st January 2010 and 31st January
2011 2010 in $m2011 in
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