Strategic Plan Update
Target Corporation is a retailing organization that operates in two segments. One of those segments is the retail stores and the other segment is the credit card business. The company operates nearly 1750 stores in 49 states and 240 of them being SuperTarget stores. SuperTarget stores have a full upscale grocery section for their guests to shop. The company also has 34 distribution centers for the fulfillment portion of their business. Target recently opened retail stores in Hawaii for the first time as well. The company focuses on making Target the preferred shopping destination for their guests. This is achieved by delivering exceptional guest service, innovation, and delivering quality and valued products. Target Corporation also has a firm commitment to diversity, community outreach programs, and the environment.
Target Corporation’s revenues have been steadily increasing over the past three years and were at $65,357 billion in 2009. The net earnings per share have fluctuated in these economic times, but increased from $2.86 in 2008 to $3.30 in 2009. The company is committed to remaining the preferred shopping destination and is reaching these goals by staying competitive in the retail industry. There are still many things the company can do to reach their long term and short goals with efficiency and lower cost. This paper will help identify what tools and resources Target can use to evaluate their strengths and opportunities to increase their revenues and reach the goals established for the company.
Target Corporation can benefit from this SWOT analysis to help support the long term goals that will be established for the corporation moving forward. One of Target’s strengths is the wide portfolio of brands the company offers. Differentiation within product lines is an excellent way to draw in customers. The grocery business is one place that brings customers into the stores and...