History and Market Overview of Target Corporation
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Prepare a response for each number, 1 & 2 - organization/industry overview, using APA formatting and include references, of your selected organization and industry. Be sure to include a history of the organization/industry, the market in which it operates, the role of government regulations on you organization/industry, and any issues or opportunities that the organization/industry faces.
1) Include a history of the organization/industry.
2) The market in which the organization/industry operates.
The selected organization/industry is Target.
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Solution Summary
This solution discusses Target Corporation and its market position in 675 words with three references.
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1) History of Target Corporations
Target Corporation, founded by George Draper Dayton, a physician in New York State, is the fourth largest retailer in the United States. The company was created in 1902 and started out as the Good fellow Dry Goods store in a six-story building in downtown Minneapolis. One year later, the corporate name is changed to Dayton Dry Goods Company and then to Dayton Company. By 1938, the company was worth $14 million. Also, at that time, Dayton dies and leaves his son Nelson in charge of the company. In 1956, the Company builds the world's first fully enclosed shopping mall, called Southdale, in suburban Minneapolis, and in 1962, the discount Target chain is launched.
In 1967, the company changes its name to Dayton Corporation and makes its first public stock offering. Soon after, Dayton merges with the Detroit-based J.L. Hudson Company department store chain, forming Dayton Hudson Corporation. Nine years later, Dayton Hudson acquires the California-based Mervyn's chain of moderate-priced department stores, making the Target chain Dayton Hudson's largest producer of revenue.
In 1990, the company acquires Marshall Field & Company, a Chicago-based department store operator. 1995 marks the opening of ...
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