Industry force 

Strength

Provide a justifying your determination with examples

High 

Medium 

Low 

Example

x

This is why I believe it is medium.

Threat of new entrants 

Power of buyers 

Power of suppliers 

Power of substitutes 

Rivalry among competitors 

Complementors 

References:

Company name: Target

Company website URL: https://www.target.com/

1. Diverse Product Range: Target boasts various products, ranging from clothing and electronics to groceries, catering to a broad customer base and enhancing its competitive advantage (admin, 2023).

2. Effective Supply Chain Management: The Company’s robust supply chain management ensures efficient inventory control, minimizing stockouts and maintaining consistent product availability.

Major Elements of the Company's Approach to Entrepreneurship and Value Creation:

A dynamic interplay between innovation, customer-centricity, and operational excellence characterizes target's approach to entrepreneurship. At the core of its strategy is a relentless commitment to understanding and meeting customer needs (Repko, 2022). Target gathers insights that inform its product assortment, pricing strategies, and service enhancements through market research, data analytics, and direct engagement.

The company's entrepreneurial spirit is evident in its willingness to experiment with novel retail concepts. Target leverages its physical and digital presence to create seamless omnichannel experiences, enabling customers to browse, order, and receive products through various channels (Repko, 2022). This multichannel approach expands its market reach and enriches the customer journey.

Value creation is intricately woven into Target's operational fabric. The company continuously refines its supply chain and inventory management systems, minimizing costs while maintaining product availability and quality. Data-driven decision-making empowers the optimization of store layouts, personalized marketing campaigns, and loyalty programs, fostering deeper customer relationships.

Furthermore, Target nurtures a culture of entrepreneurship within its workforce. Employees are encouraged to propose innovative ideas to enhance the shopping experience or streamline processes. This approach cultivates a sense of ownership and collective responsibility for the company's success.

1 action the company could take to increase entrepreneurial value creation

Target could invest in technology-driven solutions such as augmented reality (AR) and virtual reality (VR) experiences to further enhance entrepreneurial value creation. By allowing customers to virtually "try on" clothing or visualize furniture in their living spaces, Target could offer an engaging and interactive shopping journey, bridging the gap between physical and online retail. This innovation would align with Target's commitment to a cutting-edge shopping experience and could attract tech-savvy customers.

References: 

admin. (2023, March 21). Target SWOT Analysis – The Strategy Story. THE STRATEGY STORY. https://thestrategystory.com/blog/target-swot-analysis/#:~:text=Analysis%20of%20Target.-

Repko, M. (2022, March 1). Target thinks it can keep growing sales — here’s how the retailer plans to do it. CNBC. https://www.cnbc.com/2022/03/01/how-target-plans-to-keep-growing-sales.html