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Target Co.

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Target Co.

  1. 1. TARGET<br />Corporation <br />Sarah Brenner<br />Casey Putt<br />Kylie Lefeld<br />Expect more. Pay less<br />
  2. 2. TARGET<br />96% of people recognize this “bullseye”<br />Target is ranked number 11 on for “American’s Most Admired Companies<br />1500 Target stores in 47 states<br />Expect more. Pay less<br />
  3. 3. History of Target<br />Expect more. Pay less<br />The Target Corporation got its beginning in 1902 when a businessman by the name of George Dayton constructed a six-story building in downtown Minneapolis, Minnesota<br />Goodfellow department store into Dayton’s new building. Within a year the owner of the store Reuben Simon Goodfellow decided to retire and he left his interest in the store in the hands of Dayton<br />
  4. 4. History <br />In 1903 the name of the store was changed to Dayton Dry Goods Company<br />In the 1950’s the company started its expansion with the acquisition of Lipman’s Department Store Company based in Portland Oregon <br />In 1956 the Dayton Company build the world’s first two-story fully enclosed shopping center called Southdale in Edina, Minnesota. gave them a chance to become a retail chain by opening their second Dayton’s store in the Southdale shopping center<br />Expect more. Pay less<br />
  5. 5. History<br />In 1962 using the concept of discount merchandising developed by John F. Geisse, a co-founder of the company, the Dayton Company opened their first discount store in Rossville, Minnesota using the name Target<br />The name was intended to be used to distinguish its self as a discount chain from the department store<br />Within the year there were four Target discount stores all of which were in Minnesota<br />Expect more. Pay less<br />
  6. 6. History <br />Target saw its first profitable year come along in 1965 with over 39 million in sales, along with a fifth store<br />The company expanded again in 1966 with the opening of two Target stores in Denver, Colorado<br />The company’s sales increased to over 60 million which led to the Dayton Corporation to go public in 1967 and offer common stock for the first time<br />Expect more. Pay less<br />
  7. 7. History<br />In the 1970’s, the company continued its growth and by the end of the decade was the seventh largest retailer with 80 stores in 11 states with over a billion dollars in sales<br />This increased a rapidly a few years later with 151 stores and over two billion in sales. In the eighties and nineties the corporation concentrated on its expansion to the west coast and the southeastern United States.<br />Expect more. Pay less<br />
  8. 8. “Expect More. Pay Less.” <br />Target’s slogan it is also apart of their mission statement. <br />Want customers to expect more of everything. <br />Expect more great designs, more choices, more convenience, more service and more clothes, house wares and designer items. <br />At a low price so you pay less.<br />Expect more. Pay less<br />Mission Statement<br />
  9. 9. Values<br />Corporate Responsibility<br />Targeting the Community<br />Our Commitment to diversity<br />Protecting the Environment<br />Expect more. Pay less<br />Mission Statement<br />
  10. 10. Corporate Responsibility<br />How they are committed to social, environmental, and economic health of the surrounding communities. This is important because it is where their guests, team members and shareholders call home.<br />Expect more. Pay less<br />Mission Statement<br />
  11. 11. Expect more. Pay less<br />Mission Statement<br />Targeting the Community<br />They give back 5% of their income <br />Volunteer hours to surrounding communities <br />So they can make them better places to live. <br />Take Charge of Education® (TCOE) program <br />Donate 1 percent of their Target® Visa® Credit Card, Target Check CardSM or Target Credit CardSM purchases made at Target and Target.com<br />1/2 percent of Target Visa purchases made anywhere else, to a school of their choice. <br />Since 1997, has donated more than $246 million to schools across the United States<br />
  12. 12. Our Commitment to diversity<br />They do this through how they stock their shelves, select their merchandise, design their stores and welcome their guests. It also is reflected in their store teams.<br />Expect more. Pay less<br />Mission Statement<br />
  13. 13. Protecting the Environment<br />This includes recycling shopping carts<br />donating overstock groceries<br /> cut their waste by 70% and <br />Cut their energy consumption by using energy-efficient lighting and equipment in the stores<br />Expect more. Pay less<br />Mission Statement<br />
  14. 14. Managers:<br />Define Goals<br />Establish Strategy<br />Develop Plans <br />Organizational Goals<br />Controlling the organization<br />Expect more. Pay less<br />Management Philosophy<br />
  15. 15. Must motivate and lead which helps accomplish the organizational goals <br />Helps resolve group conflict, motivates employees and resolves employee behaviors <br />Expect more. Pay less<br />Management Philosophy<br />
  16. 16. Management Motto<br />Diversity in Organization<br />“The Strength of Many. The Power of One.”<br />Demonstrates the control of individual uniqueness <br />Strength created when teams apply this to a common goal<br />Expect more. Pay less<br />
  17. 17. Expect more. Pay less<br />Being a TEAM<br />Why they call them team members<br />Helping out other team members<br />Hiring: Fast, Fun, Friendly<br />“Can I help you find something?”<br />Management Philosophy<br />Three Huddles<br />Six Month Review<br />Strengths & Weaknesses<br />
  18. 18. Expect more. Pay less<br />Organizational Structure<br />The management structure for corporate<br />Their Chief Executive Officer and Director<br />Gregg W. Steinhafel<br />Chief Financial Officer, Chief Accounting Officer and Executive Vice President<br />Troy Risch<br />Relationships Chairman, Chairman of Executive Committee, Chairman of Target Stores Division and Chief Executive Officer of Target Stores Division<br /> Robert J. Ulrich <br />The President of Target Sourcing Service <br />Stacia J. Anderson <br />President of Target.com <br />Dale Nitschke<br /> President of Target Financial Services<br />Terrence J. Scully<br />
  19. 19. President of Community Relations and President of Target Foundation<br />Laysha Ward<br />Senior Vice President of Merchandising <br />Patricia Adams <br />Executive Vice President, Corporate Secretary and General Counsel <br />Timothy R. Baer <br />Senior Vice President of Target Sourcing Services of Regions II and III<br />Carmela Batacchi<br />Expect more. Pay less<br />Organizational Structure<br />
  20. 20. Expect more. Pay less<br />
  21. 21. Expect more. Pay less<br />
  22. 22. Organizational Structure<br />
  23. 23. Expect more. Pay less<br />Organizational Structure<br />Management Structure in the stores<br />STL (Store Team Leader) <br />They control everything in the store like a manager would. <br />Under them, but still considered to be a manager are the ETLs (Executive Team Leaders.) <br />They control big sections of the store like food, Softlines (clothing goods), Hardlines (everything other than food and clothes), HR (human Resources), AP (assets protection) and GE (any cash registers and the front end of the store). <br />Team Leaders<br />They control areas within the ETL&apos;s area. <br />For example in food there is meat, produce, bakery, Food Avenue, and Starbucks. <br />
  24. 24. Expect more. Pay less<br />Organizational Structure<br />Organizational Structure<br />Under the Team Leaders are the specialists. <br />They are in charge of specific sections under the Team Leaders like signing, electronics, or shoes. <br />These people would be considered employees with special tasks and a certain area they stick to. <br />Under Specialists are the Team Members. <br />These are people like sales associates. <br />
  25. 25. Target Corporation’s debt as a percent of total capital rose to over 52%. While this might seem high it is still in line with the rest of the multiline retail industry.<br />Target’s strong suit is its cash collection being better than most in the industry with over 8.1 billion in uncollected receivables at the end of this year<br />Target year in and year out has a stable bottom line despite increasing revenues that grew from $57.9 to $61.5 billion.<br />The 2008 revenues for the Target Corporation totaled $63.4 billion with annual earnings of $3.33 per share. <br />Expect more. Pay less<br />Financial Situation<br />
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  27. 27. Public View<br />Convenient place where customers can shop that is fresh and innovative<br />Committed to making a positive impact on their customers and the communities around them<br /><ul><li>Committed to doing well, and ALWAYS striving to do better!
  28. 28. Gives 5% of their income each week to communities where Target guest and team members live and work</li></ul>Expect more. Pay less<br />
  29. 29. Features Offered by Target<br />“Guest Call Button”<br />Club Baby & Club Wedd<br />Return Policy<br />Cart attendants<br />Easy to Read Pharmacy Bottles that are color coded <br />Online Website(www.target.com)<br />Expect more. Pay less<br />
  30. 30. Retote Bag<br />Customers buy and can reuse<br />Featured in Newsweek issue that was dedicated to environmental issues<br />Could fold magazine into envelope and receive free coupon for a bag<br />Expect more. Pay less<br />Has pulled more than 75,000 plastic bags of the waste system<br />
  31. 31. Public View / Fun Facts<br />385 Million Garment Hangers are Reused Each Year<br />2.1 Million pounds of plastic have been recycled<br />153,00 pounds of metal from broken hangers have also been recycled<br />Expect more. Pay less<br />911.1 Million pounds of cardboard has been recycled<br />47,600 broken shopping cards are recycled and refurbished each year<br />
  32. 32. Strengths<br />Broad Range of Products<br />Middle Class Shopper & Younger Trendy Customers<br />Balanced Brand Mix<br />Expect more. Pay less<br />
  33. 33. Weaknesses<br />Lack of Quality Control<br />Law Suit<br />Geographic concentration<br />Expect more. Pay less<br />
  34. 34. Opportunities<br />Increase Online Sales<br />Increase Demand for Organic Products<br />Flourishing Photofinishing Market<br />Expect more. Pay less<br />
  35. 35. Threats<br />Increasing Competition<br />Low Consumer Confidence<br />Expect more. Pay less<br />
  36. 36. Conclusion<br />We have presented the areas that make Target is a successful organization<br />Their involvement with the community & environment has gained the respect of customers<br />Targets products and services have been innovated and geared to the future<br />Management’s organization & beliefs has allowed them to be a successful business with a positive financial future<br />These are all aspects that categorize Target as a leading Fortune 500 company<br />Expect more. Pay less<br />
  37. 37. THE END<br />