Wednesday, August 22, 2018

Target Corporation Business Structure

Business Structure
Target is a corporation with Gregg Steinhafel as their CEO and a Board of Directors representing the shareholders. Their corporate offices are based in Minneapolis Minnesota and they have stores located in every state except Vermont. They also have stores located in India and Australia and have most recently opened four new stores in Canada.
Targets success is maintained by their strong leadership team and great guest service. Leadership begins at the head office where Group leaders are appointed and supported by business partners. Beneath the group leaders are the District Team Leaders who also have a team of Business Partners to help maintain a given district of stores. At the store level is the STL or Store Team Leader who controls every aspect of the store operation as if it were his/her own business. The STL reports to the DTL and has a team of Executives or ETL’s to support him/her. Each Executive is put in charge of a particular area of the store and typically has one or two Team Leads or Managers to assist in delegated duties. Each Team Leader will then directly over see the Team members in the execution of the daily duties.  Teams are broken down by responsibilities and range from Pricing to Logistics. All play a key role in the success of each store and the company as a whole.
Target Corporation (simply known as Target) is an American retailing company that was founded in Minneapolis, Minnesota in 1902 as the Dayton Dry Goods Company. In 1962, the company opened its first Target store in nearby Roseville. Target grew and eventually became the largest division of Dayton Hudson Corporation, culminating in the company changing its name to Target Corporation in 2000. As of May 2010, the company has opened stores in every state except Vermont, operating as Target or SuperTarget.

Target is the second largest discount retailer in the United States, behind Walmart.[6][7] The company is ranked at number 30 on the Fortune 500 as of 2010, and is a component of the Standard & Poor's 500 index. The company licenses its bullseye trademark to Wesfarmers, owners of the separate Target Australia chain.

On January 13, 2011, Target announced its expansion into Canada. Target will operate 100 to 150 stores in Canada by 2013, through its purchase of leaseholds from the Canadian chain Zellers.
Economic Impact:

Supply and demand play a significant role in any business, but especially so when you’re talking about a discount retailer such as Target. Obviously the economy will always dictate the amount of money a consumer can spend on tangible items, but its consistently low prices on non-tangible products that keeps guests coming back again and again. It’s because of the unique form of importing Target uses that keeps the shelves in over 1,600 locations full.  Target can often create its own demand simply by providing low prices and using clever marketing to drive sales.

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