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Target Mission and Vision Statement Analysis

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Target’s mission statement is “To make Target the preferred shopping destination for our guests by delivering outstanding value, continuous innovation and exceptional guest experience by consistently fulfilling our Expect More. Pay Less. Brand Promise.” In this statement, it is clear Target is a company that looks to become a top business or the leader within the retailing sector by differentiating its services.  “To support their mission, they are guided by their commitments to great value, the community, diversity and the environment.”  The comprehensiveness of this statement gives an impression of a company that understands the prevailing business dynamics and is adequately armed with the right tools to be what it wants in the market. These key points can be drawn from this mission statement:

  1. Convenience. In its effort to satisfy this aspect of the mission statement, Target owns the reputation of being a destination where customers never worry about missing what they are looking for. It is true that time is an essential and rare commodity that should ever be used wisely, and Target helps its customers to do so by bringing them everything they would want to shop. In fact, the company goes a step further to categorize all its products in such a way that any client can easily pick out what they are looking for ranging from personal care to electronics, groceries, and every other category.
  2. Reasonable prices. At Target, price is everything. In the mission statement, the company has a ‘pay less’ mantra that it does all its best to comply with all its products’ pricing. A review of the quotations offered by this company affirms the affordability fame associated with it out there. In fact, it has some of the most attractive deals with up to 25% off most of the products on offer. 
  3. Exceeding expectations. The variety of activities and services that Target Company is involved in apart from its mainstream business shows that there is more to this corporation. For instance, the mission statement mentions the pledge of the company towards adding values in the community and protecting the environment. Such efforts bring out the social responsibility element of Target positioning it as a company that wants to have its impacts not only felt in its overall growth but also the progressiveness of where it operates.

Introduction

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Successful entrepreneurs often worked for others in their field of choice before striking out on their own. Spending a few years in the industry under an excellent mentor will provide a good launching pad. Learn from your predecessors’ mistakes and brainstorm about how to improve upon their model. Find someone willing to teach, and think about starting your business elsewhere when you leave.
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A private reading on China's manufacturing sector suggests the slowdown continued last month but that conditions had not worsened as much as in October. The Caixin-sponsored preliminary manufacturing PMI was 48.6 in November, versus expectations of 48.3. It had been 48.3 in October.

See Also
apple mission statement vision statement apple
nike
google mission statement vision statement google
amazon mission statement vision statement amazon
starbucks mission statement vision statement starbucks
walmart
NameTarget Corporation
Industries servedRetail
Geographic areas servedCanada & U.S.
HeadquartersU.S.
Current CEOGregg Steinhafel
Revenue$ 73.301 billion (2012)
Profit$ 2.999 billion (2012)
Employees361,000 (2012)

Vision Statement

Target’s vision statement is “Guided commitments to great value, the community, diversity, and the environment.” The statement shows that Target is all out to do the best for a lifetime reputation of a company whose impacts and services make a difference in all sectors. The vision statement relates to the following major points:

  1. Guided commitment. Target business brand shows how structured and principled the company is especially to what it wants to achieve. The operations of this company show that things do not just happen at Target, they unfold as planned. While doing so, the company also emphasizes one key aspect – that it does not compromise on how it wants things done and what it wants to be done. That is the force that emphasizes how loyal Target is in this business brand.
  2. All-Inclusive impacts. While implementing its business strategies, Target ensures that it touches the lives of every customer who shops in the company wherever they are. It does this by first ensuring that every product offers maximum value to the clients. Target does not stop there as the company also strives to ensure that its existence extends goodness to the society in all the expected ways, including respecting and embracing diversity, as well as promoting environmental sustainability.

Core Values

Target core values include “great shopping, celebrating diversity and inclusion, community engagement, and ethics at work.” The values create a strong Target culture that ensures the company is always prepared and motivated to advance towards its vision.

The primary value that Target promotes is for its employees to create the most fun, friendly and conducive environment for all parties to ensure customers get utmost services when they shop. The success of such an effort is supported by the embracement of the inclusivity of team members with different backgrounds as well as suppliers. Target also acknowledges the significance of interacting and working with communities, and while doing so, cultivate the best behavior that advances the mission and vision statements of the company. 

References

  • Anitsal, I., Anitsal, M. M., & Girard, T. (2013). Retail mission statements: Top 100 global retailers. Academy of Strategic Management Journal, 12(1), 1.
  • Bebchuk, L. A., & Ferrell, A. (2001). A new approach to takeover law and regulatory competition (No. w8148). National Bureau of Economic Research.
  • Bradley, M., Desai, A., & Kim, E. H. (1988). Synergistic gains from corporate acquisitions and their division between the stockholders of target and acquiring firms. Journal of Financial Economics, 21(1), 3-40.
  • Brickley, J. A., & Van Drunen, L. D. (1990). Internal corporate restructuring: An empirical analysis. Journal of Accounting and Economics, 12(1-3), 251-280.
  • Dowling, G. R. (1986). Managing your corporate images. Industrial marketing management, 15(2), 109-115.
  • Engel, M. L. (2018). Crafting the ideal mission statement for your organization. Leader to Leader, 2018(87), 7-12.
  • Graff, T. O. (2006). Unequal competition among chains of supercenters: Kmart, Target, and Wal-Mart. The Professional Geographer, 58(1), 54-64.
  • Hickman, L., Byrd, J., & Hickman, K. (2014). Explaining the Location of Mission-Driven Businesses. Journal of Corporate Citizenship, 55, 13-25.
  • Jensen, M. C., & Heckling, W. H. (1995). Specific and general knowledge, and organizational structure. Journal of applied corporate finance, 8(2), 4-18.
  • Jensen, M. C., & Ruback, R. S. (1983). The market for corporate control: The scientific evidence. Journal of Financial Economics, 11(1-4), 5-50.
  • Kopaneva, I., & Sias, P. M. (2015). Lost in translation: Employee and organizational constructions of mission and vision. Management Communication Quarterly, 29(3), 358-384.
  • Markides, C. C., & Williamson, P. J. (1996). Corporate diversification and organizational structure: A resource-based view. Academy of Management Journal, 39(2), 340-367.
  • Ruback, R. S. (1983). Assessing competition in the market for corporate acquisitions. Journal of Financial Economics, 11(1-4), 141-153.
  • S Eric Anderson Ph.D., M. B. A., & Brad Jamison Ph.D., M. B. A. (2015). Do the top US corporations often use the same words in their vision, mission and value statements?. Journal of Marketing and Management, 6(1), 1.
  • Target – Home.
  • Uysal, N. (2014). The expanded role of investor relations: Socially responsible investing, shareholder activism, and organizational legitimacy. International Journal of Strategic Communication, 8(3), 215-230.
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