Target Corporation Essay - 1925 Words

Target Corporation (Essay Sample) Content: Target CorporationStudentà ¢Ã¢â€š ¬s NameInstitutionTarget CorporationExecutive SummaryThe retail industry is one of the core industries driving the US economy. It is extremely competitive owing to the low entry barriers, the availability of substitutes and the high threat of competition. It becomes vital for a firm in this industry to embrace the best practices of the retail industry in order to remain relevant and optimize profitability. This paper seeks to determine the best practices in the retail industry with a special focus on Target Corporation, one of the best performing firms in the retail industry. The paper will juxtapose Target Corporationà ¢Ã¢â€š ¬s performance, marketing and operational strategies against those of immediate competitors to draw comparisons and note the areas that need improvement.The paper is divided into three parts; the external environment analysis, the internal environment analysis and the final report analysis. The external enviro nment analysis comprises of the general environment trends, the industry environment and the competitor environment segments that analyze the various factors that impact the performance of the firms in the retail industry. The other segments include the future objectives, strategies, driving forces and key success factors. The internal environment analysis contains sections that analyze Target Corporation and its competitorsà ¢Ã¢â€š ¬ resources, capabilities, core competencies and competitive advantage. The final part, analyses the key result areas (KRAs), the companyà ¢Ã¢â€š ¬s policies and decision criteria.The KRAs (Key Result Areas) included: * Low interest rates in the U.S: To investigate whether it is wise for the business to borrow under the existing low interest rates. * Low profit margin: To investigate whether Target Corporationà ¢Ã¢â€š ¬s cash flow is sufficient and allows it to aptly pay its expenses. * Relations with employees and customers: Target must focus on the relationship between employees and customers to convert them into its loyal brand ambassadors. * The number of employee "specialistà ¢Ã¢â€š ¬Ã‚ : To investigate whether specialists enhance the customer-employee relationship and brand image. * Owned and exclusive brand management: This key area will show whether owned and exclusive products enhance brand equity, and to what extent. * Leading industry by forecasting and differentiating capability: Differentiating to create a unique and attractive value proposition through a careful combination of price, merchandise assortment, convenience, guest service, loyalty programs and marketing efforts. * Improve workplace productivity: It is important to keep employees motivated and productive to enhance the firmà ¢Ã¢â€š ¬s profitability. * Seasonal employeesà ¢Ã¢â€š ¬ dependency: Target, being in the retail industry, is affected by seasonality of business. Adjusting work arrangement and schedule should hedge against the adverse effects of seasonality.Among the key, actionable recommendations is that Target Corporation should increase its sales through intensive marketing and innovative collaborations. It should also increase the number of product lines of owned and exclusive products to boost sales revenue. Target should also closely manage its supply chain to maintain high product quality and should strengthen its information security systems to hedge against data breach and promote digitization of operations. As for the financials, the company should increase its current and quick ratios to avail more funds for its operations.ConclusionIt is evident that Target Corporation follows most of the retail industryà ¢Ã¢â€š ¬s best practices. Adherence to these practices have ensured that it has risen to become the second most profitable company in the discount retail industry bettered only by Walmart. It is also clear that Target Corporation is in a healthy financial position as exhibited by the financial ratios such as the quick ratio, the current ratio, debt ratio and account receivable turnover ratio among others most of which are better than the industry average. Target Corporationà ¢Ã¢â€š ¬s financial ratios that are not favorable with regard to the industry average are not that badly off either. Target Corporation has managed to effectively integrate its vast amount of resources to a working whole that is profitable. Its major tangible resources include its numerous distribution centers spread across the US and Canada, its dutiful employees who embrace the spirit of the company, its use of current technology, corporate citizenship and brand equity. All these resources have been appropriated by Target Corporation to uniquely position the firm in the industry. Consequently, Target Corporation positions itself as a seller of wide range of consumer products at discounted prices, following Walmartà ¢Ã¢â€š ¬s cue. However, this positioning, though profitable than the ones assumed by other compet itors such as Kmart, JC Penney and Macyà ¢Ã¢â€š ¬s, does not leverage Targetà ¢Ã¢â€š ¬s potential to the fullest. In order for optimization of profitability to be realized, Target would have to expand its customersà ¢Ã¢â€š ¬ spectrum albeit within its current market positioning. The following recommendations provide the specific details on how Target Corporation can hedge against cut-throat competition in this extremely competitive retail industry.RecommendationsTarget Corporation should undertake to market its products vigorously so as to promote its sales. Even though Target is profitable, its profit margins are still below the industry average. In 2015, for instance, Target registered revenues totaling US $72,618 million translating into a profit margin of 29%, which was three points less than the retail industry average (Target, 2015). The low sales were extremely detrimental in 2014 and are the cause of its unfavorable current and quick ratios. To boost its sales, Target sho uld first roll out a variety of sales promotion strategies, for instance, a points system where frequent shoppers are rewarded. Target has a Shop Your Way points system but it is not robust and is hardly noticeable. Target Corporation will need more vigorous reward system that would entice the customers to increase their spending (Cota-Uyar, 2011).Target Corporation should also consider reducing the prices of its commodities marginally. This is one of its core competencies which Target Corporation is yet to fully explore. Its sheer size makes pricing not only a marketing strategy but also a key resource and driving force since most other industry players cannot imitate or match Target Corporation in price wars. The retail industry is extremely competitive (Cavusgil, Knight Riesenberg, 2008). There is little customer loyalty meaning that the buyersà ¢Ã¢â€š ¬ power is high. There are also many products that can act as substitutes. Marginal price differences therefore can have consid erable influence on the fortune of the firms in the retail industry. Since the consumers are price-sensitive, reducing the prices should prove to be a viable strategy to promote sales (Dhar, 2007). However, Target Corporation should take care not to make losses in a bid to attract customers. Price reduction should be complemented with extensive marketing through advertisements, publicity, after sales services, sales promotion and others means that promote awareness and stimulate sales.Crucially, Target Corporation should expand the number of its own products that it manufactures as they promote the Target brand. Its owned and exclusive products contributed to more than a third of 2014à ¢Ã¢â€š ¬s revenue total (Target, 2015). This is in spite of the fact that Target Corporation has 16 product lines only. If these lines are expanded, the companyà ¢Ã¢â€š ¬s profitability can also be optimized. The owned and exclusive products represent untapped potential to enhance profitability. Mos t importantly, Target Corporation can brand its owned and exclusive products with its unmistakable red colored bullà ¢Ã¢â€š ¬s eye thus growing its brand equity. Other undertakings that can promote sales which the company has attempted to institute include increased collaboration with partners especially in outsourcing of raw materials and designing a better, marketable product mix (Cota-Uyar, 2011).Target Corporation should also closely manage its supply channels to maintain the high quality of the products it offers. This is extremely important especially since we have recommended that Target Corporation should increase the number of owned and exclusive products it offers. To uphold the good quality, it will be extremely imperative that the company sources for raw materials that are of high quality. As such, even though there are many suppliers that supply the retail sellers, Target Corporation should only contract a few who will deal exclusively with Target Corporation. Such an arrangement will give Target greater control over the quality of raw materials it sources. To further ensure that such an arrangement does not confer unlimited powers to the suppliers, Target Corporation should consider signing long-term contracts with the suppliers to hedge against misuse of the increased power of the suppliers (Porter, 2008).Target Corporation recently experienced a data breach that resulted in significant losses. The company had to spend a substantial amount of money in recovering the lost data. Target Corporation should, therefore, institute measures to prevent against a similar occurrence in the future. Target Corporation has already instituted measures to hedge against another data breach by changing its credit and debit cards. Currently it uses MasterCardà ¢Ã¢â€š ¬s chip and have robust PIN system solutions. This will make it almost impossible for thieves to steal data unless they have bot...

Drug Abuse And The Social Problem - 957 Words

What is a social problem? Social problem is every conditions that is recognized as a social problem existed for some time before it came to be â€Å"defined† as such. What is a drug abuse in the social problem? Drug abuse is desire to use more drug than enough or than what prescription of the doctor in order to be comfortable and stimulants at the end the user become addicted and hopeless. Drug can be used with any gender according the age in the different environment and location, such as Community, society, school, prison, groups and Home. Drugs abuse can be anything like cigarettes, alcohol and Cocaine, Marijuana, Heroin, methamphetamine, and hallucinogenics(like acid). Drugs abuse affecting more celebrity, Student and teenager, Employee†¦show more content†¦For the pregnancy women drug affecting the birth and result the baby born with down syndrome. For the Student the drug abuse cause them to discontinued with their study and kill their dream. For the celebrate they end up getting some diseases like HIV and they become weak to perform their duties and their profession and as result they died like Michael Jackson, Whitney Houston this people died recently because of the over dose drug. For the parents who has problems of over dose drug they change to be functionless and forget their obligations and become unproductive in the family. Subjectivity position: A condition is a problem only when it is perceived as undesirable. According to Paul B.Horton Gerald R.Leslie. â€Å"No condition, no matter how dramatic or shocking to someone else, is a social problem unless the values of a considerable number of people within the society define it as a problem.† The problems of drugs abuse in the community or society cause Violence, war, health problems, mental problems, death and destruction of Economic of the place. Example Black neighborhood is more violence because of drugs abuse which is social problems, like Chicago, South Dallas, Maryland Baltimore MD and other places. The community ending been affected because people selling drugs like marijuana, cocaine, on the street, which tend to become social problem in the community. Another neighborhood more affected with drugs abuse is Latino and Asian.Show MoreRelatedDrug Abuse as a Social Problem: A Look at the Conflict and Functionalist Perspectives2600 Words   |  11 PagesDrugs have been around for thousands of years. A drug is any chemical that produces a therapeutic or non-therapeutic effect in the body (Drugs and Teen Substance Abuse 2000.) Most drugs were first used for medicinal purposes, such as marijuana. Active substances were not extracted into drugs until the 19th century. N ewly discovered substances like morphine, laudanum, and cocaine were completely unregulated and prescribed freely by physicians for a wide variety of ailments. 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Human and Important Cautionary Guide Essay - 1078 Words

Introduction to Frankenstein Mary Shelley The ethical debate concerning biotechnological exploration into genetic cloning has created a monster in itself. A multitude of ethical questions arises when considering the effect of creating a genetically engineered human being. Does man or science have the right to create life through unnatural means? Should morality dictate these technological advancements and their effects on society? The questions and concerns are infinite, but so to are the curiosities, which continue to perpetuate the advancement of biotechnological science. In order to contemplate the effects that science can have on our society we can look back in history and literature to uncover the potentiality of our future†¦show more content†¦The first sign of Victors fatal flaw of egotism in that he has forgotten the bond he has with nature and to the people he loves. A new species would bless me as its creator and source; many happy and excellent natures would owe their being to me (Shelley 32). His absence of moral judgments is the catalyst for what becomes the demise of the creature, society and ironically himself. It would be years before Victor fully realized that his neglect of moral obligation to the creature and society had unleashed a hideous monster that would eventually destroy his society as revenge for the monsters sense of abandonment. I shuddered to think that future ages might curse me as their pest, whose selfishness had not hesitated to buy its own peace at the price, perhaps, of the existence of the whole human race (Shelly 114). Frankenstein, led by the desire to widen human knowledge, finds that the fulfillment of his own condescending ambition has brought only a curse to mankind. Furthermore, the creation of Frankenstein, this monster, illustrates the embodied consequences of our own actions. 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Conflicts Involve a Clash of Ideas, Interests and Expectations free essay sample

Although ideas are intangible, they can create tangible and forceful conflict. Ideas can be any pattern of thought that our mind is concentrated on, whether this relates to left hemispheric analysis of information, or right hemispheric abstract thought, ideas underlie in all activity in our minds. Conflict can often be a result of a clash of political ideology. These ideological conflicts can be small scaled and result in political debates, or in contrast, they can result in colossal wars as we’ve seen in the past century. This is as true in literature as much as life. Graham Greene proves this notion in his allegoric novel The Quiet American, as he draws upon political ideologies and represents these through the characters in the novel. Greene places the characters within the context of Indochina War, and presents relationships of the characters symbolically to represent the circumstances of the war. Alden Pyle’s idealism is motivated by interventionism in a Third World country’s affairs; this is a emblematic representation of what Greene himself had seen in his lifetime. We will write a custom essay sample on Conflicts Involve a Clash of Ideas, Interests and Expectations or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Greene uses the character Thomas Fowler to represent the ‘old colonialist’ wisdom that questions Pyle’s justification for the violence he causes. Fowler’s reluctance to become more deeply involved in the war creates inner conflict due his belief that Pyle is committing horrific wrongdoings. In addition, the differential in political ideas and beliefs between these two characters cause conflict that on a personal level, whereby Fowler organises for Pyle to be murdered, as well as a symbolic level, that is represented by America’s involvement, and Britain’s reluctance to be involved in the war. In addition to ideas, interests are a key aspect that makes up an individual, and when the interests of an individuals or groups clash, conflict is often an outcome. Often when you share an interest with someone, it acts as a platform for a potential friendship to be built upon. However, similar or identical interest can in some cases create conflict also, whether the conflict arises from jealousy, fear, apprehension, or other emotions or thoughts, conflict has the potential to arise from this clash. Greene proves the fact that this notion is as true in literature as much as life in The Quiet American, as the common love interest in Phuong between Fowler and Pyle turns a friendship into an immense conflict. Fowler’s very name can be interpreted as a metaphor to describe his actions in this conflict, ‘foul’, as he resorts to horrific measures in the novel, as a result of the clash of interest that he and Pyle shared. Fowler takes Phuong’s love for granted, whereas Pyle’s love for her can be interpreted to parallel his desire for an innocent, non-communist, democratic Indochina, which Pyle is passionate about. Phuong stays with Fowler for security and protection, and leaves him for the same reason. Fowler’s fear of losing Phuong and jealousy of Pyle’s association with Phuong drives him into a last resort to end the conflict, which resulted in the murder of Pyle. Lastly, the expectations of an individual are a third aspect that can forcefully drive conflict to reach an insurmountable apex. William Shakespeare once said that ‘expectation is the root of all heartache’, in the context of conflict, it can be said that expectations result in empty-heartiness, and more so when expectations clash, which leads to conflict of all sorts. In Greene’s The Quiet American, the expectations of both Pyle and Fowler clash, whereby one expectation cannot be fulfilled without the other being crushed, thus creating conflict. Pyle’s expectation that his actions are necessary to ‘fix’ Vietnam directly contrast with Fowler’s, as Pyle’s pure knowledge of York Harding’s philosophies, and not experience leads him into literally destroying Vietnam. This is in complete contrast to Fowler, as it is his firm expectation that America shouldn’t intervene, as his ‘old colonialist’ ideology does not justify Pyle’s methodology. Conflict has countless causes, whereby the type of conflict is determined by the aspects of groups or individuals, and to the extent in which these facets clash. The ideas, interests, and expectations that one holds are prominent aspects when determining the cause and type of a particular conflict. Graham Greene juxtaposes and links the ideas, interests and expectations of both Pyle and Fowler in The Quiet American to convey how these aspects of individuals create conflict.