One of the goals of the Target Company is to empower its teams. Through this goal, the company is seeking to enhance the safety of their employees throughout the supply chain, enhance the lives of their employees and those in their surrounding communities, increase the minimum hourly wage for all workers and elevate the well-being of all the employees throughout their supply chain. Other goals include improving the service they offer to their clients, fostering the communities around where the business operates and designing a better tomorrow (Target Corporation). To achieve these goals, Target Company is using two core strategies. The strategies are developing milestones and creating deadlines.
Target’s Key Technologies
Digitalization of Target Stores across the world is one of the key technologies that the company has adopted to grow its business into a profitable, responsible and ethical organization (McNamara). The digitalization of the stores has taken place for both the physical and online stores. Through the digital stores, customers receive services with great flexibility and convenience. Digital stores allow store team members to assist the client's purchase products online. The technology has improved self-checkout for the clients which has resulted in great customer satisfaction. The digitalization allows customers to engage with all the brands offered by different Target stores from their digital devices. Digitalization is a technology that has transformed Target’s store operations to allow for great flexibility and efficiency ensuring that they remain competitive in their industry.
E-procurement is another technology that Target Corporation has incorporated into its activities (Loeb). E-procurement reduces the costs associated with choosing suppliers, maintaining supplier relationships and holding stock. E-procurement also eliminates errors that occur with the use of paperwork. The reduction in costs of supply of goods will ensure that the company grows into a profitable organization. E-commerce enhances control of processes and workflow which boosts compliance to policies thus making Target a responsible corporation.
Advantages and Disadvantages of Technology
One of the greatest advantages of using technology is that it will streamline activities in the company and allow for automation (Dunning 65). Through the use of digital stores and e-procurement business activities will move on quicker and in an automated way. Automation reduces costs associated with business activities. Moreover, technology will allow the company to track its activities including customer satisfaction rates, employee productivity, and stock levels. The only disadvantage that the use of technology poses for Target Corporation is the likelihood of nefarious activities (Dunning 83). Online systems are vulnerable to malware, viruses, ransomware, and hackers. Therefore, Target Company must ensure that it uses the most updated protections to eliminate the chances of losing their data or getting hijacked by hackers.
Privacy is the potential ethical challenge that Target Company will face with the use of technology. The use of digital stores will allow the company to track the buying habits, internet usage and individual movements of their clients. Through the digital stores, the company will collect private information from their clients. Target Company must make an ethical decision to use their clients’ information only for business purposes.
Personal Reflection
From the research on Target Company, I have learned that continuous development in business is inevitable. Although Target Company is one of the largest retail stores in the United States, the company still sets out goals on how they can maintain the position and improve to become the leader in the industry. Additionally, Target Company has set deadlines and milestones to guide their activities which means that the corporation is committed to the set goals. I have learned that business organizations should always be on the outlook for potential chances of growth if they seek to become leaders in their industries.
Works Cited
Dunning, John. Multinationals, technology, and Competitiveness. New York: Routledge, 2013. E-book.
Loeb, Walter. What Target's new battleground in technology will help growth. 24 August 2016. Web. 31 July 2018. .
McNamara, Mike. Here's how Target is investing in-store technology to make shopping even better. 29 October 2017. Web. 1 July 2018. .
Target Corporation. Goals and reporting. 2018. Web. 31 July 2018. .
