Target Stock in Volume
History:
The founder of the Target Corporation is George D. Dayton. In 1881, he explored the growing Midwest markets and decided that Minneapolis had the greatest opportunities for growth. He bought land on Nicollet Avenue and created the Dayton Dry Goods Company, which is now referred to as the Target Corporation.
In 1902, Dayton’s experience in banking and real estate led him to go into partnership with Goodfellow’s Dry Goods Company, which is known as the fourth largest store in Minneapolis, Minnesota. When the next year rolls around, he takes full responsibility of the store and becomes the first president of the newly named Dayton Dry Goods Company. In 1911, the name changes once again to the Dayton Company. The purpose of changing the name was to make it clear that they provide a variety of goods and services. In 1916, due to the rapid growth of The Dayton Company, it became a member of the Retail Research Association. In 1918, the association expands and the name changed to the Associated Merchandising Corporation. In 1918, Dayton forms The Dayton Foundation, which provides $1 million in funds, donations, awards, etc. and promotes welfare to the unfortunate people. In 1969, it was renamed to Dayton-Hudson Foundation. Then in 2000, it became the Target Foundation.
In 1920, during the freight-handlers strike, merchandise shipments came to a halt. This resulted in many empty shelves and dissatisfied customers. To solve this horrific problem, Dayton’s solution was to use airplanes to transport the goods across the country. Their goods came from New York and were transported to Minneapolis.
George D. Dayton died in 1938. His son and grandsons took ever and developed the company into a nationwide retail business. In 1979, Target earned $1 billion in annual sales due to their first billion-dollar sale. In 1983, president Ronald Regan awarded the foundation on the Arts and Humanities Medal of Honor for community giving’s and social welfare. Then in 1997, Target is rewarded for their corporate volunteer efforts. In 2005, the corporation achieves beyond $50 billion in annual sales. The company continues its 110 years of success with providing great customer service, design philosophy, philanthropic work, and unprecedented international expansion.
(Target, . N.p.. Web. 9 Nov 2013. <https://corporate.target.com/about/history>.)
Current Products:
•Clothes
•Shoes
•Toys
•Furniture
•Electronics
•Cosmetics
•Food
•Medicine
(Target, .N.p.. Web. 9 Nov 2013. <https://www.target.com>.)
Geographical Locations:
Target purchases majority of their products from China and other areas in Asia. The stores have been operating in the U.S. and now recently into Canada. Their targeted customers are people around the age of 40, have an income of around $64k, about 43% have children, and about 57% completed college. The Target Corporation is an international company since it has its operations in the U.S and Canada.
("Corporate Overview." Investors.Target. N.p.. Web. 9 Nov 2013. <http://investors.target.com/phoenix.zhtml?c=65828&p=irol-homeProfile>.)
Culture of the Company:
The culture of the Target Company is that they focus on teamwork to overcome their challenges. Their setting is based on a friendly, fun, collaborative environment. The company’s goal is to always stay ahead in today’s competitive retail market. In doing so, they must challenge themselves in becoming more efficient and intelligent, providing customers with the best shopping experience possible.
The media views the company as a great work place to work, as a preferred shopping destination, and as a responsible corporate citizen. In order to maintain their reputation, they must perform ethically and with honesty. Due to their hard work and high expectations, they have been recognized as one of the most respected and responsible companies in the world.
("Culture." Corporate.Target.Culture. N.p.. Web. 9 Nov 2013. <https://corporate.target.com/careers/culture>.)
Stage of Lawrence Kohlberg:
According to the Lawrence Kohlberg Stages of Ethical Reasoning, the company seems to be leading toward stage 6,which is the universal ethical principle orientation. This stage focuses on self-chosen ethical principles that are found to be comprehensive and consistent. Something is right or wrong because it reflects that persons individual value system and the conscious choices he or she makes in life.
The employees make decisions ethically by allowing products to be accessible and affordable to their customers. They also engage in giving back to the community, which is based upon their morals and value system. Furthermore, they are committed to build a team that does the right thing for the communities, shareholders, and most importantly the customers. The employee’s main objectives are to satisfy the customers and make sure all their expectations are met.
("Mission&Values." Corporate.Target.Mission-Values. N.p.. Web. 9 Nov 2013. <https://corporate.target.com/about/mission-values>.)
Code of Conduct:
The company Target has a stated code. The document is a Business Conduct Guide, which is highly extensive. The Business Conduct Guide states that this corporation is committed to conducting business lawfully and ethically. Team members are required to act with honesty and integrity. They expect you to bring good judgment and a sense of integrity to your business decisions. This document serves to detail the corporation’s expectations for team member conduct and helps team members make the right decisions. They are expected to know the corporations policies and comply with them.
For example, in the document they present information Protection and Privacy. This guideline informs employees that when customers share their personal information such as name, address, credit card numbers, social security numbers, the customers expect Target to keep the information safe. If the trust is broken, it can ruin the company’s reputation as well as the relationships with customers. Also, if someone asks you to share information, you must verify who they say they are and make sure they are authorized to have the information. The Target team members are expected to know and follow the information Protection and Policy.
(Target Corporation, . N.p.. Web. 9 Nov 2013. <http://investors.target.com/phoenix.zhtml?c=65828&p=irol-govconduct>.)
The Functions:
A function that appears to get more attention in the three levels is customer service. They ensure that the customers have a great shopping experience. They make the products very affordable and assessable. Customer service is friendly and easy to talk to. Employees are always ready to answer your questions and assist you in finding your products. In addition, they have a fast check out process to avoid waiting in long lines.
Another function that is common in the three levels is Quality of Manufactured Products. The employees ensure product safety and quality at every stage of production. Before production, they audit the factory and meet with the vendor and manufacturer. Then, the product must be tested and approved for shipment. If there is a problem with a product, they quickly remove it from the store and website.
(Target Brands inc., . N.p.. Web. 9 Nov 2013. <https://corporate.target.com/about/shopping-experience>.)
Human Resources:
Human Resource fits into the three levels because they recruit the right candidate for the position to make ethical decisions. They create a career development for the employee, which incorporates corporate social responsibilities. Furthermore, they ensure that the right programs and policies are in place, which connects to corporate governance. Human Resource does get the lead role because they are involved in hiring the right people for the right positions for the overall success of the organization.
(. N.p.. Web. 9 Nov 2013. <https://corporate.target.com/careers/career-areas/human-resources>.)
Conflict of Interest:
Conflict of Interest is a situation in which one relationship or obligation places you in direct conflict with an existing relationship or obligation. There is no Conflict of Interest because the Target team members are required to avoid that type of situation. Also, they are not permitted to participate in activities that could give the appearance that a vendor has somehow improperly influenced a team member in order to receive favorable treatment. Vendors are required to avoid actions that could lead to Conflict of Interest, such as offering, providing, or reimbursing, personal gifts, favors, personal travel expenses, lodging expenses, or other housing, or any other thing of value to Target members.
(Target Corporation, . N.p.. Web. 9 Nov 2013. <http://investors.target.com/phoenix.zhtml?c=65828&p=irol-govconduct>.)
Triple Bottom Line:
The Triple Bottom Line is pursuing social, environmental, and financial goals. The social goals are achieved through innovative programs, partnerships, sponsorships, and volunteerisms. Environmental goals are achieved through sustainable practices across their business lines. They offer quick and easy places for the customers and their employees to recycle materials and pick up reusable shopping bags. Financial goals are achieved by delivering outstanding values through exceptional customer service. In addition a cost effective organizational structure that minimizes operating costs and optimizes employee contribution.
(. N.p.. Web. 9 Nov 2013. <https://corporate.target.com/corporate-responsibility/environment/sustainable-living>.)
Corporate Social Responsibility:
The company is classified as an Ethical corporation in its CSR. Ethical CSR is doing the right thing for all their stakeholders and customers. The Target corporation areas of commitment include education, environment, team members, responsible sourcing, etc.
For example, they have social compliance programs, which ensures that products are produced ethically and in accordance with local laws and standards. Also, they have audit processes that monitor the performance of their vendors to hold them accountable. These processes enable vendors to produce safe quality products; thus ensuring brand loyalty for the corporation and limits product investigation and recalls.
(. N.p.. Web. 9 Nov 2013. <https://corporate.target.com/corporate-responsibility/environment/sustainable-living>.)
Evolution of the Company:
The company slowly evolved over many years to achieve its current success. The evolution of this corporation was achieved by taking advantage of the challenges and opportunities presented over the years. The founder George Dayton, makes it well known that his company has dependable merchandise, fair business practices, and a generous spirit of giving. When Dayton dies, his son and grandson take over and expand the company nationwide.
The Target Company engaged in social giving such as creating The Dayton Foundation endowment for the purpose of promoting the welfare of mankind anywhere in the world. They also established the practice of giving 5% of their profit back to the community that they do business in. In 1983, president Ronald Regan awarded the foundation on the Arts and Humanities Medal of Honor in recognition of their social welfare programs. The company continues its success with international expansion into Canada.
(Target, . N.p.. Web. 9 Nov 2013. <https://corporate.target.com/about/history>.)
Corporate Governance:
The company has effective corporate governance since it attempts to continually evolve to appropriately balance the interest of the board, shareholders, and management. This enables them to effectively serve their customers, team members, shareholders, and the communities in which they do business. This company elects independent board of directors with diverse backgrounds and experiences. The management team interests are aligned with shareholders by tying their compensation to the long-term success of the company.
The board of directors of the Target Corporation consists of twelve members. Eleven of the members are outside directors with only one being with the company. The audit committee routinely reviews high exposure areas such as conducting special investigations of corporate record facilities, personnel and outside vendors when deemed appropriate.
Since the board consists of twelve members, any decision that results in a tie vote would be problematic in resolving the issue. The audit committee can be too powerful and over rule basic business protocols, which can hinder organizational performance. The compensation committee can establish compensation formulas that possibly could be competitive to attract talent to the company.
(. N.p.. Web. 9 Nov 2013. <http://investors.target.com/phoenix.zhtml?c=65828&p=irol-govHighlights>.)
Works Cited:
-Target, N.p.. Web. 9 Nov 2013. https://corporate.target.com/about/history.
-Target, .N.p.. Web. 9 Nov 2013. < https://www.target.com>.
-"Corporate Overview." Investors.Target. N.p.. Web. 9 Nov 2013. http://investors.target.com/phoenix.zhtml?c=65828&p=irol-homeProfile.
-"Culture." Corporate.Target.Culture. N.p.. Web. 9 Nov 2013. < ,https://corporate.target.com/careers/culture>.
-"Mission&Values." Corporate.Target.Mission-Values. N.p.. Web. 9 Nov 2013.
https://corporate.target.com/about/mission-values.
-Target Corporation, . N.p.. Web. 9 Nov 2013.
< http://investors.target.com/phoenix.zhtml?c=65828&p=irol-govconduct>.
-Target Brands inc., . N.p.. Web. 9 Nov 2013.
https://corporate.target.com/about/shopping-experience.
-. N.p.. Web. 9 Nov 2013.
< https://corporate.target.com/careers/career-areas/human-resources>.
-. N.p.. Web. 9 Nov 2013.
< https://corporate.target.com/corporate-responsibility/environment/sustainable-living>.
-. N.p.. Web. 9 Nov 2013.
<http://investors.target.com/phoenix.zhtml?c=65828&p=irol-govHighlights>.
The founder of the Target Corporation is George D. Dayton. In 1881, he explored the growing Midwest markets and decided that Minneapolis had the greatest opportunities for growth. He bought land on Nicollet Avenue and created the Dayton Dry Goods Company, which is now referred to as the Target Corporation.
In 1902, Dayton’s experience in banking and real estate led him to go into partnership with Goodfellow’s Dry Goods Company, which is known as the fourth largest store in Minneapolis, Minnesota. When the next year rolls around, he takes full responsibility of the store and becomes the first president of the newly named Dayton Dry Goods Company. In 1911, the name changes once again to the Dayton Company. The purpose of changing the name was to make it clear that they provide a variety of goods and services. In 1916, due to the rapid growth of The Dayton Company, it became a member of the Retail Research Association. In 1918, the association expands and the name changed to the Associated Merchandising Corporation. In 1918, Dayton forms The Dayton Foundation, which provides $1 million in funds, donations, awards, etc. and promotes welfare to the unfortunate people. In 1969, it was renamed to Dayton-Hudson Foundation. Then in 2000, it became the Target Foundation.
In 1920, during the freight-handlers strike, merchandise shipments came to a halt. This resulted in many empty shelves and dissatisfied customers. To solve this horrific problem, Dayton’s solution was to use airplanes to transport the goods across the country. Their goods came from New York and were transported to Minneapolis.
George D. Dayton died in 1938. His son and grandsons took ever and developed the company into a nationwide retail business. In 1979, Target earned $1 billion in annual sales due to their first billion-dollar sale. In 1983, president Ronald Regan awarded the foundation on the Arts and Humanities Medal of Honor for community giving’s and social welfare. Then in 1997, Target is rewarded for their corporate volunteer efforts. In 2005, the corporation achieves beyond $50 billion in annual sales. The company continues its 110 years of success with providing great customer service, design philosophy, philanthropic work, and unprecedented international expansion.
(Target, . N.p.. Web. 9 Nov 2013. <https://corporate.target.com/about/history>.)
Current Products:
•Clothes
•Shoes
•Toys
•Furniture
•Electronics
•Cosmetics
•Food
•Medicine
(Target, .N.p.. Web. 9 Nov 2013. <https://www.target.com>.)
Geographical Locations:
Target purchases majority of their products from China and other areas in Asia. The stores have been operating in the U.S. and now recently into Canada. Their targeted customers are people around the age of 40, have an income of around $64k, about 43% have children, and about 57% completed college. The Target Corporation is an international company since it has its operations in the U.S and Canada.
("Corporate Overview." Investors.Target. N.p.. Web. 9 Nov 2013. <http://investors.target.com/phoenix.zhtml?c=65828&p=irol-homeProfile>.)
Culture of the Company:
The culture of the Target Company is that they focus on teamwork to overcome their challenges. Their setting is based on a friendly, fun, collaborative environment. The company’s goal is to always stay ahead in today’s competitive retail market. In doing so, they must challenge themselves in becoming more efficient and intelligent, providing customers with the best shopping experience possible.
The media views the company as a great work place to work, as a preferred shopping destination, and as a responsible corporate citizen. In order to maintain their reputation, they must perform ethically and with honesty. Due to their hard work and high expectations, they have been recognized as one of the most respected and responsible companies in the world.
("Culture." Corporate.Target.Culture. N.p.. Web. 9 Nov 2013. <https://corporate.target.com/careers/culture>.)
Stage of Lawrence Kohlberg:
According to the Lawrence Kohlberg Stages of Ethical Reasoning, the company seems to be leading toward stage 6,which is the universal ethical principle orientation. This stage focuses on self-chosen ethical principles that are found to be comprehensive and consistent. Something is right or wrong because it reflects that persons individual value system and the conscious choices he or she makes in life.
The employees make decisions ethically by allowing products to be accessible and affordable to their customers. They also engage in giving back to the community, which is based upon their morals and value system. Furthermore, they are committed to build a team that does the right thing for the communities, shareholders, and most importantly the customers. The employee’s main objectives are to satisfy the customers and make sure all their expectations are met.
("Mission&Values." Corporate.Target.Mission-Values. N.p.. Web. 9 Nov 2013. <https://corporate.target.com/about/mission-values>.)
Code of Conduct:
The company Target has a stated code. The document is a Business Conduct Guide, which is highly extensive. The Business Conduct Guide states that this corporation is committed to conducting business lawfully and ethically. Team members are required to act with honesty and integrity. They expect you to bring good judgment and a sense of integrity to your business decisions. This document serves to detail the corporation’s expectations for team member conduct and helps team members make the right decisions. They are expected to know the corporations policies and comply with them.
For example, in the document they present information Protection and Privacy. This guideline informs employees that when customers share their personal information such as name, address, credit card numbers, social security numbers, the customers expect Target to keep the information safe. If the trust is broken, it can ruin the company’s reputation as well as the relationships with customers. Also, if someone asks you to share information, you must verify who they say they are and make sure they are authorized to have the information. The Target team members are expected to know and follow the information Protection and Policy.
(Target Corporation, . N.p.. Web. 9 Nov 2013. <http://investors.target.com/phoenix.zhtml?c=65828&p=irol-govconduct>.)
The Functions:
A function that appears to get more attention in the three levels is customer service. They ensure that the customers have a great shopping experience. They make the products very affordable and assessable. Customer service is friendly and easy to talk to. Employees are always ready to answer your questions and assist you in finding your products. In addition, they have a fast check out process to avoid waiting in long lines.
Another function that is common in the three levels is Quality of Manufactured Products. The employees ensure product safety and quality at every stage of production. Before production, they audit the factory and meet with the vendor and manufacturer. Then, the product must be tested and approved for shipment. If there is a problem with a product, they quickly remove it from the store and website.
(Target Brands inc., . N.p.. Web. 9 Nov 2013. <https://corporate.target.com/about/shopping-experience>.)
Human Resources:
Human Resource fits into the three levels because they recruit the right candidate for the position to make ethical decisions. They create a career development for the employee, which incorporates corporate social responsibilities. Furthermore, they ensure that the right programs and policies are in place, which connects to corporate governance. Human Resource does get the lead role because they are involved in hiring the right people for the right positions for the overall success of the organization.
(. N.p.. Web. 9 Nov 2013. <https://corporate.target.com/careers/career-areas/human-resources>.)
Conflict of Interest:
Conflict of Interest is a situation in which one relationship or obligation places you in direct conflict with an existing relationship or obligation. There is no Conflict of Interest because the Target team members are required to avoid that type of situation. Also, they are not permitted to participate in activities that could give the appearance that a vendor has somehow improperly influenced a team member in order to receive favorable treatment. Vendors are required to avoid actions that could lead to Conflict of Interest, such as offering, providing, or reimbursing, personal gifts, favors, personal travel expenses, lodging expenses, or other housing, or any other thing of value to Target members.
(Target Corporation, . N.p.. Web. 9 Nov 2013. <http://investors.target.com/phoenix.zhtml?c=65828&p=irol-govconduct>.)
Triple Bottom Line:
The Triple Bottom Line is pursuing social, environmental, and financial goals. The social goals are achieved through innovative programs, partnerships, sponsorships, and volunteerisms. Environmental goals are achieved through sustainable practices across their business lines. They offer quick and easy places for the customers and their employees to recycle materials and pick up reusable shopping bags. Financial goals are achieved by delivering outstanding values through exceptional customer service. In addition a cost effective organizational structure that minimizes operating costs and optimizes employee contribution.
(. N.p.. Web. 9 Nov 2013. <https://corporate.target.com/corporate-responsibility/environment/sustainable-living>.)
Corporate Social Responsibility:
The company is classified as an Ethical corporation in its CSR. Ethical CSR is doing the right thing for all their stakeholders and customers. The Target corporation areas of commitment include education, environment, team members, responsible sourcing, etc.
For example, they have social compliance programs, which ensures that products are produced ethically and in accordance with local laws and standards. Also, they have audit processes that monitor the performance of their vendors to hold them accountable. These processes enable vendors to produce safe quality products; thus ensuring brand loyalty for the corporation and limits product investigation and recalls.
(. N.p.. Web. 9 Nov 2013. <https://corporate.target.com/corporate-responsibility/environment/sustainable-living>.)
Evolution of the Company:
The company slowly evolved over many years to achieve its current success. The evolution of this corporation was achieved by taking advantage of the challenges and opportunities presented over the years. The founder George Dayton, makes it well known that his company has dependable merchandise, fair business practices, and a generous spirit of giving. When Dayton dies, his son and grandson take over and expand the company nationwide.
The Target Company engaged in social giving such as creating The Dayton Foundation endowment for the purpose of promoting the welfare of mankind anywhere in the world. They also established the practice of giving 5% of their profit back to the community that they do business in. In 1983, president Ronald Regan awarded the foundation on the Arts and Humanities Medal of Honor in recognition of their social welfare programs. The company continues its success with international expansion into Canada.
(Target, . N.p.. Web. 9 Nov 2013. <https://corporate.target.com/about/history>.)
Corporate Governance:
The company has effective corporate governance since it attempts to continually evolve to appropriately balance the interest of the board, shareholders, and management. This enables them to effectively serve their customers, team members, shareholders, and the communities in which they do business. This company elects independent board of directors with diverse backgrounds and experiences. The management team interests are aligned with shareholders by tying their compensation to the long-term success of the company.
The board of directors of the Target Corporation consists of twelve members. Eleven of the members are outside directors with only one being with the company. The audit committee routinely reviews high exposure areas such as conducting special investigations of corporate record facilities, personnel and outside vendors when deemed appropriate.
Since the board consists of twelve members, any decision that results in a tie vote would be problematic in resolving the issue. The audit committee can be too powerful and over rule basic business protocols, which can hinder organizational performance. The compensation committee can establish compensation formulas that possibly could be competitive to attract talent to the company.
(. N.p.. Web. 9 Nov 2013. <http://investors.target.com/phoenix.zhtml?c=65828&p=irol-govHighlights>.)
Works Cited:
-Target, N.p.. Web. 9 Nov 2013. https://corporate.target.com/about/history.
-Target, .N.p.. Web. 9 Nov 2013. < https://www.target.com>.
-"Corporate Overview." Investors.Target. N.p.. Web. 9 Nov 2013. http://investors.target.com/phoenix.zhtml?c=65828&p=irol-homeProfile.
-"Culture." Corporate.Target.Culture. N.p.. Web. 9 Nov 2013. < ,https://corporate.target.com/careers/culture>.
-"Mission&Values." Corporate.Target.Mission-Values. N.p.. Web. 9 Nov 2013.
https://corporate.target.com/about/mission-values.
-Target Corporation, . N.p.. Web. 9 Nov 2013.
< http://investors.target.com/phoenix.zhtml?c=65828&p=irol-govconduct>.
-Target Brands inc., . N.p.. Web. 9 Nov 2013.
https://corporate.target.com/about/shopping-experience.
-. N.p.. Web. 9 Nov 2013.
< https://corporate.target.com/careers/career-areas/human-resources>.
-. N.p.. Web. 9 Nov 2013.
< https://corporate.target.com/corporate-responsibility/environment/sustainable-living>.
-. N.p.. Web. 9 Nov 2013.
<http://investors.target.com/phoenix.zhtml?c=65828&p=irol-govHighlights>.
Target Giving Back