Target Corporation
Team, Culture and Performance In 2008, the mortgage bubble burst drowned many companies and financial institutions. Companies were struggling to paddle against the stock market waterfall. Unemployment rates reached astonishing numbers seen only by generations before, and the American workforce was strangling to catch a breath under the deep state of turmoil. A recession was inevitable. It was a tough time for individuals and companies alike. Numerous companies filed bankruptcy and many workers lost their jobs. One of the companies that stayed afloat during the economic recession was the Target Corporation. Although experiencing profit losses and was forced to lay-off workers, Target stayed true to its cores and values. Its brand promise of “Expect More. Pay Less.” retained much of its customer loyalty. Its dependable merchandises and exceeding expectations are unique in the market. Target focuses heavily on attaining customer satisfaction and employee satisfaction. The company believes employee satisfaction will yield higher performances and increase sales profits. Target sees itself more than a discount retail store, but as an innovate leader. It constantly searches for new ideas and ways to enhance the customer shopping experience at its local stores. Target contributes much of its innovate mindset to a diverse team of employees. The company emphasizes the importance of diversity and individuality, acknowledging how diversity allows for greater innovation. Despite recent losses in profits due to economic recession, Target has revived itself through its diverse teams, emphasis on employee satisfaction and thirst for innovation. History of Target The legacy of Target Corporation began in the city of Minneapolis, Minnesota. After several years in banking and real estate, he traveled to Minneapolis, believing it offered strong opportunities for growth. In 1902, George Draper Dayton established his first department store, the Dayton Dry Goods Company.