Unit 5 assignment- Power Point
.pptx
School
Purdue Global University**We aren't endorsed by this school
Course
MT 140
Subject
Management
Date
Jan 13, 2025
Pages
8
Uploaded by CorporalScienceSeal75
MT140: Introduction to ManagementMackenzie CourtneyTarget
POLC•Planning- •Organizing-•Leading-•Controlling-These four functions all relate to each other in management because they are all equally important and needed to keep a business afloat. A manager and team must be able to use all of these skills properly or less the team will quickly begin to fall apart, lose employees, and lose revenue.
Company Overview |Mission StatementVision Statement |Values of the Company•For this assignment, I will be looking at the business, Target. •As stated on their website, Target’s mission statement is “To help all families discover the joy of everyday life”. Since they are still working towards this goal, it is also their vision for the future as well. Target is constantly working around this statement to better their company and communities in the US. •Also included on Target’s website is their values as a company. Target believes in all inclusivity for all communities, valued and genuine relationships with their customers, and doing what’s right for Target and their customers as well.
Strategic Planning (Goal, Manager & Power)•Strategic- When developing the strategic level of a company, the people who are in charge would be the highest level of employees of a business. This would include the presidents, CEO’s, and other executive employees. For Target, some of these people would include Brian Cornell, John F Mulligan, Michael J Fiddelke, and more. These individuals have complete power over all levels and aspects of the company. They create everything for the company including the mission statement, vision, and values. •Considering Target’s mission statement, one strategic goal of the business would be to create a large group of reoccurring customers. By doing this, they would be following their mission statement while also having financial success.
Tactical Planning (Goal, Manager & Power)•The tactical level is considered the middle level of planning. For this level, individuals including mid-level managers and supervisors would do majority of planning. For Target, this would include employees such as store managers. While these individuals are not as powerful as those above, they still hold power for Target. These individuals typically are in charge of those in the operational status and are capable of doing things such as scheduling, organizing store setups, and hiring individuals for their stores. •As I spoke about in my Unit 1 assignment, one of Target’s largest department is their technology department. With the strategic goal to bring in more customers, they may focus on the technology department to draw attention in. For example, Target has yearly large sales such as huge Black Friday sales to entice customers to buy big ticket items to make their lives easier. These departments are typically run by the middle level of employees of the company. By focusing on specific departments for a short period of time, Target would most likely see a large growth in the long run.
Operational Planning (Goal, Manager & Power)•The operational level of a business is the lowest level, but still very important to a company. This includes cashiers, stockers, etc for Target and most other businesses. Those that occupy this status don’t typically get much power over the company. Employees here often are given jobs by those above and complete them as requested.•Continuing with my example of the Technology department of Target, is the operational levels of planning. While Target has specific times of the year where the Technology department brings in the most revenue, it is important to focus on everyday sales and customer engagement as well to successfully follow the mission statement. For example, Target puts in a lot of investing for the Technology department to make sure employees are UpToDate on training, all of the best tech is available to customers, and the department is as organized as possible. Keeping a connection with customers on a reoccurring basis through low level employees will cause the customers to come back, rebuy items, and invest further in the company. These customers will branch out of the Technology department once they see that Target is a trusting company and begin to purchase from all departments of the store.
Bureaucratic Control•In my opinion, I think Target could continue to provide updated training for employees, continue to sell the most popular products, and give the best deals possible to accomplish the goal of bringing in customers on a day-to-day basis. This could be done with a budget set by Target, as well as certain requirements, regulations, etc. The company could measure the financial investment into these ideas through graphs. They could also measure possible financial growth due to these tactics with graphs as well.
ReferencesBateman, T. S., Snell, S., & Konopaske, R. (2020). Management. McGraw-Hill Education. Target Corporation. (2023). (). Fort Mill: Mergent. Retrieved from ProQuest Central https://libauth.purdueglobal.edu/login?url=https://www.proquest.com/reports/target-corporation/docview/1860750763/se-2Target’s purpose and history. Target Corporate. (n.d.-b). https://corporate.target.com/about/purpose-history#:~:text=To%20help%20all%20families%20discover,where%20or%20how%20you%20shop.