Target was founded by George Dayton and began as the Dayton Dry Goods Company and a lot of the things they did back then as a company, Target still does today (“Target through the years”). They began as a department store. George Dayton defined success all those years ago as “making ourselves useful in the world, valuable to society, helping in lifting in the level of humanity, so conducting ourselves that when we go the world will be somewhat better of our having lived the brief span of our lives” (“Target through the years”). His earlier vision describes being helpful to the society and leaving the world better than when it was as they began. It is very focused on giving back to the communities in which they live in.
The giving was started with the Dayton Foundation in 1918 and still exists today as the Target Foundation (“Target through the years”). Throughout the history this is one area that Target focuses on a lot: giving back to society and the communities. In 1946, they reached a 5% mark of giving back to communities (“Target through the years”). Later on, the store transformed from a department store, to a discount store. They wanted to at that point combine the best of the fashion world with the best of the discount world and create a quality store with quality merchandise at discount prices, and a discount supermarket (“Target through the years”). This is where Target made a drastic and risky move to become more like the stores we are currently familiar with.
Currently, Target’s 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 (“Mission & values”). The vision is then broken down further to include 6 key areas: believing in design for all, celebrating diversity and inclusion, great guest service, more for your money, a legacy of giving and service, and providing a fun and rewarding place to work (“Mission & values”).
The current vision statement itself is focused more on the fulfillment Target hopes to serve and includes the giving and service areas, however, the mission itself focuses on solely one individual stakeholder: customers. In recent years, it appears Target has begun focusing on giving towards educations, versus giving back in general. This focus on education began in 1997 and still is going strong today (“Target through the years”). They’ve had other targeted initiatives to include law enforcement partnerships and the Target House (“Target through the years”).
Target’s vision and values had changed over time because of the way the company transformed from a department store to a discount retailer. One thing continues to be a focus at Target and that is their contributions to society, which over time have become more focused. Target’s vision switched to include focusing on customers, and the focus on education is mainly because that is something their customers are also concerned about. Overall, Target has made a positive statement to society and continues to do so. This has always been a part of Target from when it began as Dayton’s Dry Goods Company and I believe it will always be.
Mission & values. (n.d.). Retrieved February 28, 2015, from https://corporate.target.com/about/mission-values Target through the years. (n.d.). Retrieved February 28, 2015, from https://corporate.target.com/about/history/Target-through-the-years
University/College: University of Arkansas System
Type of paper: Thesis/Dissertation Chapter
Date: 24 September 2016
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