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Dayton Dry Goods: A Brief Story Of George D.

1259 Words6 Pages

George D. Dayton built his wealth as a banker by buying farm mortgages and in 1902 he purchased a building in downtown Minneapolis. He persuaded Reuben Simon Goodfellow Company to move his department store into his building. Goodfellow wanted to retire so he sold his company to Dayton and he changed the name of the store to the Dayton Dry Goods Company in 1903. Then in 1910 he changed the name of the company to Dayton Company. He had no previous experience working in retail but maintained his connections as a banker as well as he ran it as a family business. He had very strong Presbyterian beliefs which his store did not sell alcohol and was not open on Sundays. His values greatly influenced from the start of the company to giving to charities …show more content…

Don Liu is executive vice president, chief legal officer and corporate secretary for Target and his responsibilities include all legal of the company. Rick Gomez is executive vice president and chief marketing officer for Target and he is responsible for overseeing marketing strategies and all aspects of corporate social responsibility. Mike McNamara is executive vice president, chief information and digital officer for Target and he oversees the company’s technology team. Stephanie Lundquist is executive vice president and chief human resources officer and manages all aspects of human resources for the company. Jackie Rice is executive vice president and chief risk and compliance officer for Target and she is responsible for enterprise risk management. Janna Potts is executive vice president, chief stores officer and is leading all team members. Mark Tritton is executive vice president and chief merchandising officer for Target and is responsible for merchandising operations. Cathy Smith is executive vice president and chief financial officer for Target and her responsibilities include the company’s financial services. Laysha Ward is executive vice president and chief external engagement officer and her responsibilities are to build relationships with external stakeholders and to develop positive …show more content…

Company Leadership Style Cornell has displayed a leadership style where he has been able to get the board members on board with the decisions that need to be made, get his executives in step with the strategies that are needed to make changes, and he has provided support for displaced workers. He has showed the type of leadership that is needed to turnaround the large retailer. His leadership style is transformational. His leadership style helps to bring team effectiveness to help make teams perform better together and it works for leaders to identify what the teams need to be more

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After working in banking and real estate, native New Yorker, George D. Dayton decides to explore Midwest markets. Dayton notices Minneapolis offers some strongest opportunities for growth and so decides to purchase land on Nicollet Avenue and forms Dayton Dry Goods Company – today known as Target Corporation (“Target through the Years”). “Target Corporation is an upscale discount retailer that provides high-quality, on-trend merchandise at attractive prices in clean, spacious and customer friendly stores” (“Corporate Fact Sheet”). Today, target operates 1,829 stores in United States, which has enabled the company to grow to the top of the retail store market. It has implemented various techniques and strategies to constantly improve and ensure the effectiveness and efficiency of all operations (“Corporate Fact Sheet”).

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I. Strengths of TARGET Corporation Target Corporation is one of the largest and oldest public discount retailing company operate in the United States. The company founded in 1902’s by George Dayton (as also known as Dayton Dry Goods in 1962’s). Target store has a huge store footprint and enjoys considerable brand recognition. Target’s portfolio of owned and exclusive brands is also its strength, which allow retailer to a valuable differentiating lover in high competitive retail environment.

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