Target Retail Company Research Paper Example | Topics and Well Written Essays - 1250 words - 1

Target Retail Company - Research Paper Example This company was driven by the personal principles practiced by Dayton, whereby he believed in reaching higher grounds of stewardship and this made his store become known for dependable merchandise, generous spirit and fair business practices (Target Brands, Inc., 2011). In 1911, Dayton Dry Goods Company was named The Dayton Company so as to incorporate its assortment of goods and services that it had started offering and soon it is commonly known as the Dayton Store. In the year 1916, this company becomes part of the co-founders of Retail Research Association, which is a leading retailers’ cooperative which later expanded and was named the Associated Merchandising Corporation in 1918. In the same year, George Dayton creates a foundation, The Dayton Foundation endowed with $1 million with the aim of promoting human welfare across the world. This was later renamed the Dayton-Hudson Foundation in the year 1969 and later became the Target Foundation in 2000. Following stalling of shipments in 1920 due to a freight handlers strike, Dayton decided to use airplanes to ship goods throughout the country, an idea that was well received by the public following the effects of the crisis on the consumer market. A radio station was created by Dayton in 1922 with a massive influence on Minneapolis. The son of Dayton, George N Dayton, takes over presidency of Dayton Company in 1938 following his father’s death. This company came up with the idea of giving 5% of its pretax profits to the community as a corporate social responsibility strategy in 1946. A new generation of leadership is borne following the death of George N. Dayton, where the grandson Donald C. Dayton, takes over the running of the company in 1950, and this was followed by all the Dayton’s grandsons taking over leadership positions within the company. A commercial interiors department was opened