Corporate Target Research

His family effectively took over the business grew Dayton corporation into a nationwide and household name (Target Corporate, 2018). Dayton Corporation gave rise to the Target as one of its independent departments. The name Target is believed to have been designed to give the consumer a unique and distinct impression of the new discount chain store which was different from the Dayton department stores. The Target’s business model is based on the concept of upscale discounted retailing (Target Corporate, 2018). It’s renowned for its high-quality merchandise and competitive prices to its members. As expected of any superior mission statement, it is clear and easily comprehensible. It offers an elaborate definition of the customer as well as the business intended products. This guides the organization to meet the needs of the company, its employees and customer in a well-balanced manner.

It offers Targets employees a concise explanation for the existence of the company. This elaborate intention serves as a source of direction to management decision making and focusing on its workforce and other resources to achieve its state purpose and intention (Plouffe, Bolander Cote & Hochstein, 2016). When employee treatment is great, this enhances brand equity. More so, it acts a tool of free positive advertisement as compared to an institution that mistreats the workforce through low pay or abuse. Inevitably, adherence to these values set in Target vision statement is lead to unparalleled customer experience and service. The structuring of Target vision statement offers the security of more client, improved sales as well as high rate of employee retention. Despite the stiff competition in the discount retail segment, Target’s strong values centered on the society rather than economic gain greatly helps derive competitive advantage (Galbraith, 2014).