When someone says the word business, what do you think about? Do you think about money, a big corporation or maybe the little bakery down the street? According to the Normative Foundations of Business case, “business is any organization in which private parties (sometimes referred to as “owners”) provide risk capital and have a claim on the net economic value that is created. Businesses are designed with the intention of being self-funding, acquiring resources through market exchange and generating revenue sufficient to cover all costs, including a return to the capital providers.” That is only part of what a business is, you must also think about the different variations of businesses, some are for profit maximization and others are alternative
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And that belief is why we continue to give 5 percent of our profit to local communities, a tradition that we’ve upheld for the past 70 years.” Target was founded by a New Yorker named George D. Dayton in 1902 in Minneapolis. Originally the name was Dayton Dry Goods Company but was soon changed to the now known popular name Target. While it was still known as Dayton Dry Goods, it became a department store in 1911 and 1916 became the founding member of the Retail Research Association. We now know the history of Target but how are they an alternative to profit maximization …show more content…
Target says that their purpose is to “fulfill the needs and fuel the potential of our guests. That means making Target your preferred shopping destination in all channels by delivering outstanding value, continuous innovation and exceptional experiences” and keep their promise of paying less and getting more. They have a goal to try to make every customer feel like as if the store was their home. They couldn’t have shown it in any better way than using the Caroline’s Cart. The Caroline’s cart is designed so that kids with special needs can sit in a large seat within the cart to make the shopping experience easier in Target. Target has implemented this so their guests can avoid “the impossible task of maneuvering a wheelchair and a traditional shopping cart simultaneously. Another action that has helped their belief of putting the customer first was listening to reviews as well as team member opinions. This led them to take part in yet another great action of caring about customers feelings. The company was told that the dolls sold were too similar and not multicultural. From this feedback, they decided to sell dolls that were multicultural and “have a greater variety of physical features.” Also, a way that Target makes their guest feel at home is by having a diverse work environment. At Target, the “overall team member population is 57 percent female, and women comprise 46 percent of
And that belief is why we continue to give 5 percent of our profit to local communities, a tradition that we’ve upheld for the past 70 years.” Target was founded by a New Yorker named George D. Dayton in 1902 in Minneapolis. Originally the name was Dayton Dry Goods Company but was soon changed to the now known popular name Target. While it was still known as Dayton Dry Goods, it became a department store in 1911 and 1916 became the founding member of the Retail Research Association. We now know the history of Target but how are they an alternative to profit maximization …show more content…
Target says that their purpose is to “fulfill the needs and fuel the potential of our guests. That means making Target your preferred shopping destination in all channels by delivering outstanding value, continuous innovation and exceptional experiences” and keep their promise of paying less and getting more. They have a goal to try to make every customer feel like as if the store was their home. They couldn’t have shown it in any better way than using the Caroline’s Cart. The Caroline’s cart is designed so that kids with special needs can sit in a large seat within the cart to make the shopping experience easier in Target. Target has implemented this so their guests can avoid “the impossible task of maneuvering a wheelchair and a traditional shopping cart simultaneously. Another action that has helped their belief of putting the customer first was listening to reviews as well as team member opinions. This led them to take part in yet another great action of caring about customers feelings. The company was told that the dolls sold were too similar and not multicultural. From this feedback, they decided to sell dolls that were multicultural and “have a greater variety of physical features.” Also, a way that Target makes their guest feel at home is by having a diverse work environment. At Target, the “overall team member population is 57 percent female, and women comprise 46 percent of