Target Corporation: Strategy Analysis and Strategy Conclusions

Target Corporation: Strategy Analysis and Strategy Conclusions
Author’s Name
The Institutional Affiliation
Course Number and Name
Instructor Name
Assignment Due Date
Target Corporation: Strategy Analysis and Strategy Conclusions
Introduction
Target Corporation (Target Co) was founded in 1902 in the United States of America (US). The company became a market leader in the American retail industry in the modern epoch, offering different products categorized as general merchandise and food assortments. Target Co has a growing prospect to attract investors from worldwide. Table 1 in the Appendices illustrates the five-year prospect of financial performance in the American retail industry (Target Co., 2023). In 1962, Target Co introduced the iconic Bullseye logo. The company expanded operations beyond Minnesota until George Draper Dayton, founder of Target Co, went public in 1967. Accessibility, affordability, and customer service are the three winning concepts adopted by Target Co to become a market leader today (Target Co., 2023a). The company is a retail giant in the US, offering a diversified product and service portfolio to customers nationwide.
The vision and objectives of Target Co reflect sentiments set by Dayton nine decades ago. Target Co has the vision to co-create a more equitable and regenerative future by engaging customers, employees, investors, partners, and communities. The company’s vision is ‘Target Forward’ (Target Co., 2021). Figure 1 in the Appendices illustrates the signature goals included in Target Forward to accomplish its long-term vision and sustain its industrial position.
Strategic Analysis
Target Co. leads the American retail industry regardless of the intense competition and transforming paradigms in the business environment. Target Co has a consumption-based business model that functions in a sharing economy through platforms. As Kortmann and Piller (2016) discussed, a sharing platform requires a shared-economy structure that functions through peer-to-peer marketing operations. Figure 2 in the Appendices illustrates the business model framework integrated by Target Co. Target Co tends to operate through Omnichannel, exhibiting presence physically and digitally. The sharing platform allows Target Co to generate sales through the experiences of customers and word-of-mouth (WOM) that attracts new footfalls inside physical and digital stores. The company has a balanced loop chain that distributes controls between Target Co and value chain partners to manage the product portfolio.
Similarly, Target Co adopted Start-up Corporation as the business function strategy to expand market operations in the US. Table 2 illustrates the fundamental difference between Start-ups and Start-up Corporations. Most Start-up Corporations would rely on networks, inject quality resources, synergize internal forces, and establish a business function to disrupt market paradigms (Davila & Epstein, 2014). Target Co utilizes its industry network by collaborating with leading brands in the fast-moving consumable goods (FMCG) sector to increase its product portfolio. The company would also offer self-constructed brands that Target Co manufactures by leveraging its supply chain net...