For a target corporation to attain dramatic success, it is ideal for the company to look at some of the external and internal factors affecting the business. The external analysis means examining the political, economic, social, societal, and technological factors, whereas the internal elements mean knowing more about manufacturing facilities, machinery, employees, budget, and resources. When Target corporations have information regarding all these factors, they can have long-term profitability in the market. Target corporations need to know how to deal with potential entry threats, the threat of substitutes, the power o buyers, and industry rivalry(Pribil, 2014). Target needs to come up with the best strategy to dislodge its competitors in the market.
Target’s non-financial internal elements have also played a significant role in ensuring its success . the management has been able to look at the changing environmental factors making the firm more flexible o the changes in the environment. More so, its engagement in corporate social responsibilities and organizational culture has given the company a competitive advantage. The firm pays attention to value generation by using improved software the company operates in its information management.
Reference
Pribil, K., Lassarat, J., Felicetti, A., & O’Rourke, J. S. (2014). Target corporation: Reputational damage from a massive data breach. The Eugene D. Fanning Center for Business Communication, Mendoza College of Business, University of Notre Dame.