Reference no: EM131159939
PLAN OF TARGET CORPORATION
You need to prepare the Human Resources Plan to continuing the the Business plan.
Executive summary:
Target Corporation aims towards expansion of retail chain business across several continents.
For expansions in its Latin American market it plans to proceed with extensive marketing campaigns in countries like Brazil and Cuba. Developing own logistical systems in countries with a high market share will provide high profit margin. Moreover, sales forecasting have been conducted taking into account previous sales and future business expansions.
Description of planning:
Jasraet al. (2011) states that compared to small enterprises large firms have easier access to funding for expansion. Target corporation needs focussing on market share retention in its US and Canada markets, thereby it following a sustainable market policy in order to provide high value products at low prices consistently to its present consumers. As stated by Sorescuet al. (2011, p.S3)most large retailers have morphed into multi channel firms, where the same customer visits the retailer via different channels. For its Indian market, target requires to follow a moderate growth policy since large scale retailing is restrictive in India. As Akhter and Equbal (2012) mentions organised retailing is largely an urban phenomenon while the majority of rural areas are yet untapped. For its Latin American market, the company plans to follow an aggressive expansion with pervasive marketing policies and rapid market penetration through large scale FDI.
HR plan:
As mentioned by Thiteet al. (2012, p.6), the effective management of human resources in a firm is to gain competitive advantage in marketplace. The hr hierarchy comprises of president, followed by public relations manager and executive secretary. Target has a vice president who distributes the responsibilities among managers. The supervisors carry out the manager's instructions and supervise different sectors such as operations, transportation, product check and inventory. Kehoe and Wright (2013, p.341) states that employees' perception of HR practitioners are likely to influence by perception of co-workers. The recruitment process of Target for supervisor and lower posts is constituted online through completion of job application, answering questionnaire and pre-employment assessment test and background check.
Target Corporation is a multinational corporation based in Latin America. The wideness of the company punches the company to excel in designing and innovation, continuously through web development and technology advancement.
Berry, T., (nd), said that some of the important sections for developing a web plan are the market strategy, budget analysis, sales forecast and website strategy. Now further if we deal with the above sections, the specifics which the company should look for a better plan are:
1. Market Analysis- it includes mainly the website demographics summary, industry analysis, and market analysis. This is done to see how the how are people in different areas accessing the websites and according to that, we have to develop the website to make it convenient for the consumers. According to the target website the median age of customers in 41, so the web design should more towards corporate look rather than some funky look for the young adults.
Attachment:- target latin american technology plan.pdf
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