Target’s New Vision 1Running head: Target’s Rebranding PlanTarget’s New Vision: A Strategic Plan for Re-BrandingConnor McCullyPurdue University Global
Target’s New Vision 2AbstractIn this document, a new strategic goal for The Target Corporation to re-brand themselves as a higher-end retailer is both analyzed and determined. This stems from a desire for the business to expand their customer demographic in an effort to become even more profitable. Once the strategic goal has been enacted, tactical and operational goals are considered at both themiddle and front-line management levels to support the overall strategic goal. In order to evaluate the success of these initiatives, controls are put into place for both managers and front-line employees, allowing for objective and valuable feedback at the customer and employee level.
Target’s New Vision 3Target’s New Vision: A Strategic Plan for Re-BrandingIn any organization, the management team is incredibly vital and helps drive the business forward. Typically, managers are responsible for four functions: planning, organizing, leading, and controlling. Planning allows managers to brainstorm ideas to improve the business but must then transition to the organization phase, where these ideas are give an action plan. Managers must then lead their teams towards success by supporting the initiative fully, controlling employees when possible with policies and direction. When these four functions are completed at a high level, both employees and companies show tremendous growth and are able to be resilient in their efforts. One company’s management team that must work to plan, organize, lead, and control successfully is The Target Corporation. The Target Corporation is widely recognized as one of the most popular discount retailers in the world, with affordable but lesser quality items. Recently, The Target Corporation has tried to shed this image and maneuver towards a vision that reflects unique and high-quality items. The Target Corporation recently stated their new company mission as, “To help all families discover the joy of everyday life. That’s our purpose. Our mission. The promise of surprises, fun, ease and inspiration at every turn, no matter when, where or how you shop." (The Target Corporation, 2020) In order to