The Role of Strategic and Financial Planning in Long-Term Growth: A Case Study of Target Corporation�s 2013 Technology Initiative

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Running Head: Strategic InitiativeStrategic InitiativeTitle:Course Name:Topic Name:Instructor Name:Student Name:Date:Discuss the role of strategic and financial planning in achieving long-term growth for anorganization, using Target Corporation’s 2013 technologyinitiative as a case study. In youranswer, explain how the initiative aligns with the company’s financial goals, affects its supplychain costs and revenues, and addresses ethical concerns related to customer privacy and socialmedia.Word Count Requirement:1000-1200 words.

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Running Head: Strategic InitiativeIntroductionNow in present business environment themajor part of abusiness organization’ssuccess isplanning. Twoimportanttypes of planningorganizationuse are strategic and financial planning.Strategic planning is the route of determining the objective your company will take, the valuablegoals you have for the business and how to reach what you want(Miller C C & Cardinal B,1994). On the other hand financial planning is managingorganizationsfinances over time inspecificway that you can meet your business needs.In business both types of planningengagefordefining objectives,gathering andanalyzing data,applythe plan and monitoring theoutcomes(Miller C C & Cardinal B, 1994).The Target Corporation’swholestrategic plan is todevelopthesignificanceandconsistencyof itsvaluablecustomer experience acrossmanychannels (social media & mobile,in-store, online), as well asmaintain, grow and leverage theTarget name and maintain agoodreputation of satisfying customerrequirements. Consistentwith thewholestrategy,for the year 2013 theTarget Corporations planinvolved a number ofstrategic initiatives todeveloplong long-term growth.Initiative discussed in the organization's annual report.As noted above,2013 annual report ofTarget Corp. discussessomestrategic initiatives one ofwhichconnectedtohightechnology. Target Corporationgreatlyrelies on a computer system todeal with process guest transactions, record,manageguest data,wellcommunicate withvendorand other thirdimportantparties,summarize and examine such resultsserviceoperationsandaccounts (TargetCorporation, 2014).The business ofTarget Corp. is becoming increasinglydependenton technology; TargetCorpcontinues to makeimportanttechnology investments.Aswellthe items noted above,this corporationseeshigh-technology as aeffectiveway to increaseusefulposition, andsuccessfullymanage guest facingwellexperience.As well,in 2013due to

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