Provide a detailed analysis of the external environment for the organization you researched in Week 1.? Based on your assessment

Company name: Target Corporation

Company website URL: 

As an entrepreneurial enterprise, Target has a wide range of merchandise something that makes the corporation to target a wide range of clients. The second strength is that Target has over the years managed to gather quality customer shopping experience something that helps in offering quality services leading to consumer loyalty (Capell, 2019). Lastly, the company has a strong brand in the market that has helped in effectively positioning the brand in a competitive retail national and international market.

At Target Corporation, there are some major elements that the company uses to approach entrepreneurship and also create value. These elements include; innovation, effective organization, quality decision making, risk bearing, and realistic vision. All these approaches plays a major role in value creation because whenever innovation is applied, the company has been able to come up with better ideas and strategies that improves service delivery. With effective organization, Target is able to execute its mandate to clients and general public without challenges and this is something that makes many to perceive the company as a corporation of value. According to Hechavarría, et al., (2017) good decisions plays a major role in boosting ability of a company to entice clients and attract loyalty. This is an important approach the company uses to assure clients of quality services at all times hence increasing levels of dependability. Risks in any business are present and Target has been able to perfect its skills in regards to risk bearing. The company invests in innovative ideas hoping the ideas will generate revenues and such risks have helped in creating great business value. lastly, the company has a great vision that keeps it scoring higher which also boosts levels of value creation.

There are a lot of things Target has been doing to increase its value creation. However, the one action that can make massive change is increasing its online presence. This is important because currently there are a lot of clients seeking goods and services through online means due to high levels of efficiency and convenience that comes with the technological approach. The company has embraced the online ideas but its presence is not as massive as other competing brands. The company hence requires investing more on online selling and marketing as this would boost its value to greater heights.

References: 

Capell, A. (2019). Strategic Audit: Target Corporation.

Hechavarría, D. M., Terjesen, S. A., Ingram, A. E., Renko, M., Justo, R., & Elam, A. (2017). Taking care of business: the impact of culture and gender on entrepreneurs’ blended value creation goals. Small Business Economics, 48(1), 225-257.