 |
 |
 |
 |
 |
 |
 |
 |
 |
2010 Executive Tidbits
IBM, P&G, General Mills, McKinsey, and McDonald's have the best manager training programs according to Fortune 2009. |
 |
 |
 |
|
Check out Keith's other site:
Virtual Writing Coach |
|
|
| |
|
|
The Executive Connection SM
a publication of The Virtual Executive Coach SM
"Vision + Accountability = Success!"
www.virtualexecutivecoach.com
April, 2008
In This Issue:
1. Preview
2. Executive Summary
3. Target’s Secret
4. Helpful Hints
1. Preview
The Executive Connection explores the creative and analytical process of business development,
team-building, and executive development.
We are an interactive community of executives and small business owners who desire to network
with like-minded high-performance executives
to enhance our knowledge, skills, and aptitudes in the competitive business world.
Published monthly, the Newsletter offers coaching suggestions around the topics of: business development, financing, marketing, networking,
incorporations, mergers, human resources, governmental regulations, and tax laws.
Topics are presented from the perspective of Keith Barton and represent only his ideas on creating and running your business.
Because we are an interactive community of executives and business owners, other viewpoints are welcomed and may be printed in future monthly
newsletters with permission from Keith Barton.
2. Executive Summary
April, 2008
Dear Executive Connection Subscriber,
This month's newsletter features: Target’s Secret
3. Target’s Secret
This month’s Fortune features Target’s successful innovation tools that have propelled them from a dry goods store in
Dayton, Ohio in 1903 to #33 of Fortune’s Top 500 Companies. Two of nine top executives are women: Jodee Kozlak, EVP of Human
Resources and Karen Gershman, SVP of Marketing. Target even has a VP for Strategy, Innovation and Insights, William Setliff.
The "Red Bulls Eye" is recognized around the world and now appears on a white bulldog. Talk about Branding with a "capital B".
Target’s operating margins have increased from 5.4% to 8.6% in the last ten years. The stock has returned 795% since its IPO
compared with 284% for the S&P retail index and 354% for Wal-Mart. The timeline for their phenomenal success since 1903 looks like
a bullet train with the following cursory stops: 1956, the world’s first enclosed shopping center in Dayton; 1962, the first Target
store opens in Roseville, MN, the same year that Wal-Mart and Kmart launch; 1968, the Target Logo Bulls-eye appears; 1969 Dayton
merges with J.L. Hudson to form Dayton Hudson; 1984, Robert Ulrich is named Target Stores president, a position he holds today,
as CEO and chairman; 1995, first Super Target opens in Omaha; 2000, Dayton Hudson renamed Target Corporation; 2003, Target overtakes
Wal-Mart in same-store sales growth; 2006, Target launches Go International fashion collections; 2008, Ulrich announces he will
retire in May, to be replaced by Target president Gregg Steinhafel.
Target’s slogan, "expect more, pay less," is catchy, but true. Their store designs have wider aisles for easier access to clothing
and accessories, unlike the overcrowding at Wal-Mart with their high shelves and oversized carts. Target continues to open 100
stores annually with each store at one-sixth the size of Wal-Mart to provide easier access to fashion merchandise, like Converse,
woven handbag from Loeffler Randall, Target’s new cereal box, ITSO storage system, designers Erin Fetherston and Isaac Mizrahi.
2008 may be a momentous year with the change at the helm with Ulrich’s departure, but the store chain has top-notch candidates for
any succession scenario. Ulrich’s leaving has been compared to Sam Walton’s retirement from Wal-Mart in 1988 and Jack Welch’s
departure from General Electric in 2001. But Target’s real advantage is not its CEO or logo, line of designer purses or catch slogan—it’s the team that created them and there are 150 in-house managers primed and ready to replace them as part of their long-range strategic plan.
Helpful Hints:
- Merchandising is tough business. How many bankruptcies and mergers resulting in department store disappearances can you name besides Bradlees, Venture, Caldor, Rose’s, and Woolworth?
- The secret to Target’s success is succession planning and managerial training. What other industries contribute money and time to leadership development?
- Niche buying is another secret to Target’s success. Can you think of other retail stores that rely on both volume and niche?
SUBSCRIPTION INFORMATION
The Executive Connection SM is a free publication. If you want to continue to receive this Newsletter, you can
SUBSCRIBE by clicking here or by sending a blank email message to
keith_barton@att.net
with the word SUBSCRIBE in the subject line.
To UNSUBSCRIBE click here or send a message to
keith_barton@att.net
with the word UNSUBSCRIBE in the subject line.
Be assured your name and email address are confidential. We do not sell, rent or share our mailing list with anyone.
Contact Information:
Keith Barton, Ph.D.
Voice: 281-583-5005
Fax: 281-583-5008
Web: http://www.virtualexecutivecoach.com
E-Mail:
keith_barton@att.net
(c) Copyright 2008, Virtual Executive Coach SM
and A. Keith Barton, Ph.D.
All rights reserved.
Distribution Rights:
The Executive Connection SM is copyrighted, but you may retransmit or
distribute it to whomever you wish as long as not a single word is changed, added, or deleted, including the contact information. However, you may not copy
it to a web site.
Republication of The Executive Connection SM in paper media is encouraged and permitted by individuals, organizations and associations, as long
as the issue is reprinted in its entirety, without change, and includes the contact information.
With advance permission, we are happy to edit an issue to fit your space requirements. Republication also is encouraged under other circumstances.
However, the advance permission of
A. Keith Barton, Ph.D. must be obtained in the event that changes in the text are desired.
The Executive Connection SM Mission:
The Executive Connection SM is dedicated to helping first-time business owners and executives to recognize resistance to change, while they create
and manage their own businesses. My goal is to help you transform your vision into a successful business venture with the addition of accountability structures
and silent partner.
The Executive Connection SM is a publication of The Virtual Executive Coach SM and Keith Barton, Ph.D.
We would like The Executive Connection SM to be as interactive as possible. If you have feedback, comments, topics you would like addressed, or can
suggest additional resources to benefit us all, please email us at any time. Send your e-mail to
keith_barton@att.net
.
Please forward this issue to anyone you think would find The Executive Connection SM interesting and beneficial. Your recommendation helps us
keep growing, and ensures an excellent exchange of information and techniques.
Archives:
You can read previous issues of The Executive Connection SM in our archive section.
About Keith Barton, Ph.D
Dr. Barton received his Ph.D. in 1972 from the University of Texas at Austin and has been a practicing therapist for over thirty years. He is a graduate of
MentorCoach and is accepting new clients.
He has been an adjunct professor at the University of
South Carolina, consultant to Fortune 500 companies in
executive development, founded and managed Texas Community
Living Ventures, Inc., in 1986 for providing group home
services to persons with mental retardation. Keith founded
and has been running a clinical practice in Northwest Houston since 1990.
He writes part-time with the goal of completing one novel a year. His desire to coach others derives from his passionate interest in helping others become
attuned to their creative powers of storytelling.
Dr. Barton has training in coaching, cognitive and family therapy and health psychology. He has published articles, made presentations and conducted workshops about:
Small Business Development
Employee Wellness Programs
Anxiety and achievement
Stress management
Self-esteem
Communication skills
Leadership styles
Core values in the workplace
Executive Development
High-performance groups
Physician support groups
Writer support groups
© 2010
The Virtual Executive Coach SM
and Keith Barton.
|
| |
|
|
|
|
|
