Business Report #3
10 Points
Paper Details:
-No less than 2 full pages, double spaced, size 12 font, Times New Roman, no maximum length
-Due 4/7/2024 6pm, by no later than 6:00PM. To be submitted on Canvas under the Business Report Tab, where the link to Business Report 3 is located (email it to me by 6:00PM only if you cannot submit on Canvas)
-Please include your name, topic, class description, and finish w/Prof. Dom
-Also include a works cited segment. You can choose what format to put the works cited in (MLA, APA, etc.), or simply a copy/paste of the web-link. I have no preference.
-The paper needs to have the following content:
1.) Use at least 2 sources
2.) Be detailed, be specific, and give me your opinions and thought!
The Topic:
Tried and Failed: Target’s expansion into Canada. In 2013, Target purchased leases on building that belonged to a dying, low-end retailer named Zellers. They opened 124 stores at one time in 2013, and ended up with 133 stores, after a few years. In total, Target lost $5.4 billion. Then newly hired CEO Brian Cornell could only see a profit be turned around the year 2021, at the earliest, hence his bold move to pull the plug on the Canadian expansion project. There are no longer any Target stores in Canada, only in the US. It does not appear promising for, in the near future at least, for Target to try to go outside the US for expansion. Why did Target fail in Canada (and there were many reasons)? What was the biggest reason they failed? Talk specifically about:
Knowing the environment/consumers, who are different from US consumers (different needs/wants). How do Canadian shoppers’ shop, what do they shop for that Target missed the boat on capturing completely?
What were the main reasons they failed (there are many), from opening too many stores too quickly, distribution problems, not able to keep stores full, technology woes, not having the right pers/place/time, etc.? List and explain the specifics.
If you were the CEO, and opening up in Canada was the goal, how would you have done it differently? What would have been a better strategy? How does a company enter a new market? What factors should you consider?
