|Geographic areas served||Canada & U.S.|
|Current CEO||Gregg Steinhafel|
|Revenue||$ 73.301 billion (2012)|
|Profit||$ 2.999 billion (2012)|
|Main Competitors||Costco Wholesale Corporation, Kmart Corporation, Wal-Mart Stores Inc. and many other companies.|
The Target Corporation is an American retailing company, founded in 1902. It is the second-largest discount retailer in the United States after Wal-Mart Stores. The company is ranked 36th on the Fortune 500 as of 2013 and is a component of the Standard & Poor's 500 index.
Target mission statement 2013
|“Our mission is to make Target your preferred shopping destination in all channels by delivering outstanding value, continuous innovation and exceptional guest experiences by consistently fulfilling our Expect More. Pay Less. brand promise.”|
|Does it include...?|
|Technology||Concern for survival||Philosophy|
|Self-concept||Concern for public image||Employees|
|Does it mention values like...?||Customer or product-oriented?|
(This evaluation framework is composed of the guidelines listed in our article: Mission Statement for Success)
Target’s mission is evaluated 1.6 points out of 4.5 points, indicating a poorly structured statement for a few reasons:
- It only includes 3 components, lacking other 6: customers, products or services, markets, concern for survival, public image and employees.
- It doesn’t mention citizenship, teamwork, excellence or integrity as their values, which we use in our evaluation. Costco provides their values separately, which are: “design for all; great guest service; more for your money; a fun and rewarding place to work; celebrating diversity and inclusion; a legacy of giving and service.” All of these values show what guides Costco’s decision, yet there aren’t any of our 4 values.
- The statement focuses on only one stakeholder, customers, but in order to use a mission as a great communication tool the company should include more stakeholders in it, such as: employees, partners, communities, shareholders, suppliers and etc.
One benefit of Target’s mission is that it’s customer-oriented, meaning that the company focuses on customers’ needs rather than in what product market to operate.