Topic > Target Corporation Case Study - 706

External Environment and Competitive Position: Any company and its corresponding market position are affected by a change in the economy, government policies, the community it serves, the market segment, and in the corresponding sector. These are external macro environmental factors and the competitive nature affects the business. It is therefore necessary for any company to monitor changes in the business segment and predict its performance as part of its strategic planning. In order to develop a strong strategy to position Target Corporation competitively, it should understand the current environment, its competitors, their strengths and weaknesses, and any planned moves (CEA, n, d). Target Corporation must consider its external environment retail business strategy and determine long-term market needs. Furthermore, it can leverage its strengths, such as high product differentiation, quality supply chain, technology used for automation, quality products, clean, spacious and welcoming stores, to develop sales retail for future consumer and market needs that will be necessary to know more about what is happening to the surrounding environment and develop an appropriate strategy. The information required for analysis is gathered from a general observation of scanning change in the environment, paying attention to developments by carefully monitoring the environment that will impact the organization, and acting based on what competitors are doing. The result of the analysis is in line with the long-term time horizon of three to five years for a particular industry which enables the company's long-term strategic road map