Target Financial Report to CFO Research Paper

Pages: 17 (4500 words)  ·  Bibliography Sources: 13  ·  File: .docx  ·  Level: Master's  ·  Topic: Government  ·  Written: March 31, 2019

SAMPLE EXCERPT:

[. . .] Furthermore, in the present day, both of these corporations are forcefully advancing their private-label businesses. As a result, the merger between these two companies would give rise to one of the largest private-label businesses in the world (Lango, 2018).

Target Corporation Must Better Leverage a Retail ERP System

ERP is fundamentally well-defined as a packaged software application comprising of several modules, in quest of the establishment’s business procedures and information-dispensation necessities. What is more, ERP makes the most of a mutual integrated databank to provide establishments the prospect for more effectual and efficacious utilization of social, monetary, physical, and other organizational informational resources. In essence, ERP is basically utilizing computer expertise and know-how, comprising of software and hardware constituents for the purposes of data and information storage and tracking in favor of the mission and objectives of the entity (Al-Mashari, 2003).

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The business implications of leveraging a retail ERP system are without a doubt massive. In the present-day business setting where privatization, liberalization as well as globalization are dominant and prevailing, majority of the retail businesses across the globe conduct their operations in intensely competitive market conditions. This sort of fierce rivalry has given rise to minimal profit margins in the industry. Bearing this in mind, in order for Target to continue being competitive in the market place, the company cannot meet the expense of the extravagances of systemic inefficiencies or delayed decision-making. In both of these business activities, whether it encompasses rising productivities in the business process or the capacity to take practical decisions hastily, necessitates a comprehensive cognizance of the business process (Plunkett, 2013).

Research Paper on Target Financial Report to CFO Assignment

As pointed out in research undertaken by Almgren and Bach (2014), ERP gives rise to increased sales and profits for the organization by augmenting profitability. Based on the research study, ERP brings about a general decline in the costs incurred in conducting business and as a result increase the sales generated and the profit margin of the organization. In actual fact, statistics reported demonstrate that approximately 70 percent of the firms generating the greatest amount of sales and returns and 90 percent of the high ranking and dominant corporations in terms of their market caps have undertaken enterprise resource planning system (Wanyoike, 2017). Furthermore, the implementation of ERP had a positive impact on numerous indicators of sales and financial performance comprising of return on assets, profit margin, return on investment, asset turnover as well as capital turnover. This is indicative of the significant need for Target Corporation to leverage ERP into its business operations.

Target Corporation is one of the major retailers with business operations spanning across the different parts of the United States and beyond. Management of such a distributed network is a daunting task indeed. The retail ERP packages will be beneficial for Target in attaining better management in its enterprise-wide business operations. The retail ERP systems offer an all-encompassing solution for the retail information processing challenges faced by Target Corporation by offering an extensive solution to the management of its intricate retail business. By leveraging ERP, Target will be able to manage the business significantly better in an effective and efficient way by rendering assimilated and incessant information flow. This facilitates the simpler tracking of all the transactions undertaken by the retailer. Furthermore, the ERP is recommended owing to the reason that it will enable Target Corporation to have automated recording of its retail business transactions in real-time setting. ERP can be a largely essential implement to survive the competitive retail sector and increase the profitability of the company (Finne and Sivonen, 2008).… [END OF PREVIEW] . . . READ MORE

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APA Style

Target Financial Report to CFO.  (2019, March 31).  Retrieved February 29, 2020, from https://www.essaytown.com/subjects/paper/future-global-population-growth/5674730

MLA Format

"Target Financial Report to CFO."  31 March 2019.  Web.  29 February 2020. <https://www.essaytown.com/subjects/paper/future-global-population-growth/5674730>.

Chicago Style

"Target Financial Report to CFO."  Essaytown.com.  March 31, 2019.  Accessed February 29, 2020.
https://www.essaytown.com/subjects/paper/future-global-population-growth/5674730.