In a 2021 press release, Target announced its plan to build momentum through strategic investments. Target plans to commit $4 billion annually to accelerate industry-leading capabilities that serve guests with a differentiated shopping experience. The news release embodies Targets overall strategy which is to expand  the company to a global level. 

Carefully review public information about the company that you selected.  (Target) After your review, write a @300-500 word summary of the communications strategy of your company. 

Rememberthis from last session:  In the context of strategic communications,strategy is the organizations overall plan.   It is the determination ofhow the organization decides what it wants to achieve and how it wants toachieve it.  (Ronald Smith,Strategic Planning for Public Relations).

Collisand Rukstad in the HarvardBusiness Review write that thereare three components that help develop the strategy statement are:

Targetsstrategy statement is to help all families discover the joy of everyday life byscaling key capabilities across stores, fulfillment, and supply chain to drivedeeper engagement with new and loyal guests, continued market share gains, andlong-term, profitable growth. To ultimately become the preferred one-stop-shopfor millions of guests. 

Target will accelerate new storeopenings and store remodels, enhance fulfillment services and strengthen itssupply chain as it provides guests with a safe, easy and convenient shoppingexperience. 

weare building on the aspects of our differentiated model that make Target thepreferred one-stop-shop for millions of guests, said Michael Fiddelke, chief financial officer, Target. The bold investments planned forthe next few years will scale key capabilities across stores, fulfillment, andsupply chain to drive deeper engagement with new and loyal guests, continuedmarket share gains, and long-term, profitable growth 

       Objectives

o  Targets Objective: be thepreferred one-stop-shop for millions of guests by 2026 

o   Thedefinition of the objective should include not only an end point but also atime frame for reaching it

o   Itis the single precise objective that will drive the business over the next fiveyears or so.

o   Thestrategic objective should be specific, measurable, and time bound. It shouldalso be a single goal. 

      Scope (who are your customers,geographic location and vertical integration)

o   Afirm’s scope encompasses three dimensions: customer or offering, geographiclocation, and vertical integration. Clearly defined boundaries in those areasshould make it obvious to managers which activities they should concentrate onand, more important, which they should not do.

o   Itis also crucial to define the scope, or domain, of the business: the part ofthe landscape in which the firm will operate. What are the boundaries beyondwhich it will not venture? 

o   Ifyou are planning to enter the restaurant business, will you provide sit-down orquick service? A casual or an upscale atmosphere?