NRevell-GB560-Assignment-Unit 5

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1 Evaluating Change Management Processes: Target Evaluating Change Management Processes Nicole K. Revell Unit 5 Assignment GB560: Designing, Improving, and Implementing Processes Dr. David Starnes December 6 th , 2023

2 Evaluating Change Management Processes: Target Introduction This assignment is designed to discuss the vision, mission, and values of Target, which is a large corporate company. The action plan in this paper will also discuss examples of best practices to better the business and the development of a change management implementation plan. Change management is designed to improve how a business operates and to determine the success of that business. Project Management Institute (2013) talks about how change is iterative and continuous when then can be challenging. Target is no exception to change and is constantly growing and implementing change as we will discuss throughout this paper. Overview and Description of Goals Overview of Target The Target that we all know, and love was first created in 1962 by The Dayton Company, led by Douglas J. Dayton in Minnesota. The Dayton Company was looking for ways to strengthen their relationships with guests, which came to the development of a mass-market discount store. The store had a focus on developing a value-oriented shopping experience seeking a higher-quality (Target, 2023). The company has been developed into a family-run department store chain that is now one of the nation’s largest discount store chains. Target is officially located in all 50 states, with the latest addition of Vermont’s first store opening in 2018 (Target, 2023). Target is recognized with being ranked on Fortune’s list of Best Large Workplaces in Retail and almost half of their stores throughout the country are managed by a female leader. Target is also very prideful with their community relationship and give back to the community every single year.

3 Evaluating Change Management Processes: Target Vision, Mission, and Values Target’s mission statement takes care of 400,000 plus team members and customers in every state. Katie Wolf (2020) talks about the importance of defining values, and incorporating them into the vision and mission statement, “helps unify a team whether you head up a department or an entire company, it can help make better hiring decisions, hold the team to a higher standard, and work together more effectively toward your ultimate goals.” Target works hard and sends a very similar message. The mission statement of Target is “to help all families discover the joy of everyday life.” Breaking down their mission statement, Target is sending a message that commits to serving their customers with convenience, affordable products, a fun environment, and overall simplicity. The goal of the company is to work together to develop joy with a great shopping experience in a large market. The mission statement is delivered with a purpose that seeks into their vision and values. The company’s vision statement is “guided commitments to great value, the community, diversity, and the environment” (Target, 2023). Target’s promise is to allow surprises and fun while offering an ease and inspiration at every turn. This experience is done however, whenever, and wherever a person shops. Target values joy as it is the center of every business decision they make. Systems Relationship By using and implementing their vision, mission, and values, Target has become one of the largest and most successful mass-market discount stores. They use their distinguished values to drive their culture and mission to deliver an excellent customer experience. The Target

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4 Evaluating Change Management Processes: Target shopping experience with their unique brand of “expect more, pay less,” distinguishes themselves on four points. Those points include high-quality merchandise, fast, friendly service, a clean and fun-to-shop stores with ambiance, and knowledgeable employees (Ramlall, 2006). Target invests in their employees and their customers. They successfully navigate a high- performance culture. Over several years Target is officially located in all 50 states, an increase of operating income margin rate of 5.2 precent, a 36% higher GAAP and Adjusted EPS from 2022 to 2023, and a major increase of operating cash flow. That flow went from $550 million in 2022 to $5.3 billion from three quarters in 2023 (Target Financial, 2023). The success of these numbers is from the business formulating a purpose of a strong vision, mission, and values and implementing their tactics. A systems relationship is being able to break down the whole process and not just into smaller pieces. It is like seeing the bigger picture of the smaller parts and ensuring that all parts are working together to endure the success of the company. Additional Background Information of Target Founded in 1962, Target was created by The Dayton Company in Minnesota. In 1966, the company made their first steps into an expansion opening doors in Denver, Colorado. Target took an early approach getting involved with the community and the environment. In 1970, Target made their first environment commitment and celebrated their first Earth Day (Target, 2023). Target is involved with several sponsorships beginning with a sports stadium and Kids Saving Earth clubs to GLBT and national parks. Target strives to be a good neighbor and a global partner. Their program, Target Forward, invests in sustainable practices designed to implement a positive impact to people and the planet with a focus on ensuring a long-term value of the business.

5 Evaluating Change Management Processes: Target Growth Goals for Target As the newest edition to the board, titled CEO of Target, my goal would be to plan for 100% of Target’s brand products to be designed for a revolving future. This plan will continue to be designed to eliminate waste. The teams will design only using materials that are regenerative, recycled, or sourced sustainability (Target, 2023). The company aims to create revolving products that are more durable, can easily be repaired, and recyclable. The long-term goal to have this cycle going is by 2040. To begin this process, Target will aim to offer two circular owned brands by the year 2025. The planet is a major commitment of Target with goals of making the planet better. The growth goal is to net zero greenhouse gas emmissions3 across the enterprise by the year 2040. These enterprises include scopes 1, 2, and 3. In 2023, Target’s supplies set a science-based scope (Target, 2023). Next steps will include engaging supplies to prioritize renewable energy and sourcing 60% of their electricity to renewable sources for operational purposes. Achieving these next steps allowed Target to generate more energy that is actually needed to operate every year by utilizing renewable resources. This will be considered a net zero energy store. Having stores in all 50 states and establishing net zero energy stores uses more renewable sources creating a healthier future for the planet. Change Management Best Practices Change Management Best Practices of Target Change can be a scary and stressful process making it difficult to handle. An important description, Edge Training Systems (2007) discusses on how to handle the change, would be to understand exactly what the change is that is occurring. The change should be understood for the

6 Evaluating Change Management Processes: Target person, the organization, and the stakeholders as they are the ones who are going to experience the change that is about to happen. To determine this change, the questions the change might entail include what exactly the change might be and how will the change affect the others who are involved. Sonya Krakoff (2023) mentions that change can be organization-wide or team- based and that change is meant to be for good, however, people are uncomfortable, or even fear change. Change is not always perceived to be good, especially from employees, and it is no easy task maneuvering the change and making it a positive impact. Change management is driven from a foundational concept that serves as a guide that Target practices. Target practices being transparent with all levels of their employees. Their best practice is effective communication distributed through all channels with an open-door policy to leave no room for interpretation. Utilizing these best practices builds trust with the company, leaders, and employees and creates a unity within the company. Best Practices Synopsis Communication is one of the most effective best practices when implementing an important change management. Communication is used to inform the company team members of the positives and negatives of the change and how the change will impact them and the company. When implementing the communication, it is best to use it at the beginning before the change happens to start developing an action plan on how to deliver the change effectively. In some cases, the stakeholders might need to be involved depending on how large or impactful the change is, but they can also deliver a different perspective. Organizations often overlook their employees (Wren, 2020), so by properly communicating, the company can build trust with their employees thus creating successful outcomes for the company.

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7 Evaluating Change Management Processes: Target The leadership team or management team is a key component as a best practice of change. They are the ones who are going to help with the transition and make it run smoothly. Kelsey Miller (2020) talks in the first step of the change management process to prepare the organization for change. The organization prepares for that change with their management team. “In the preparation phase, the manager is focused on helping employees recognize and understand the need for change” (Miller, 2020). The leadership team raises awareness and prepares the team accordingly. This can be done with effective training. When the team is prepared, the company can ensure that everyone is on the same page going forward, a safe environment is created, and the entire team can move forward toward the common goal of the company. Rationale for Best Practices Selection A few of the many effective and important best practices in change management that have been discussed are having the backing and support of the leadership and/or management team. They are the ones who are going to explain the “how” and the “why” behind the change with what available resources will be provided. While there are several best practices companies have used, or continue to use, I believe the best practices for a larger company like Target is effective and open communication, as well as the selection of the leadership team to be able to manage the team during the preparation phase. These practices are crucial for laying a strong basis for any big or small change the company may experience in the future. Effective communication along with all members of the company is crucial for managing a successful business, particularly during the beginning stages of the procedural changes. It is important to develop a change management team for any organization. They would be the team to relief the

8 Evaluating Change Management Processes: Target leader or manager of the burden of overseeing the change from beginning to end. The team will be able to help drive the success of best practices to achieve goals. Incorporating Best Practices Change can be scary, unsure, and uncomfortable to anyone. It is important to understand that change will affect every level of a company, so best practices are used to incorporate change management. The CEO, directors, VP’s, and other board members is the first of the leadership team to initiate the change and begin to develop a plan to answer the questions of what and how. They will be the ones to communicate to the leadership team, and once the leadership team understands and is on board to relay the details, they will then introduce the change to the rest of the employees. The leadership team will be able to communicate the reason of the change thoroughly. Most importantly, the company will develop a change management team to be the point of contact and facilitate the change from start to finish. This team will be the company subject matter experts of every single company change, whether it be a big or small change. This team will design a plan to facilitate to the employees of the company which includes meetings and trainings. They will also certify that every employee understands and accepts the change to ensure the company operates on the same page aiming to achieve a common goal. Change Management Plan Implementation Change Management Plan Implementation Recently, the change readiness assessment was completed, and I received the following results: Resourcefulness – 27; Adaptability – 18.5; Optimism – 24; Confidence – 22.5; Adventurous – 17; Tolerance for Ambiguity – 16; Passion/Drive – 19.

9 Evaluating Change Management Processes: Target I was actually not too surprised of the results. In my personal life, I would consider myself to be more on the adventurous side with my choice of hobbies, but in my career side, I am not as adventurous. Having such a long tenure with the company allowed me to be resourceful and relate to being a knowledge powerhouse. If there is something I do not have the answer to, I utilize my tools provided to find the answer I am looking for. I am surprised my score for passion/drive is not as high as others as I am extremely driven and have goals in my life, I am aiming to achieve both professionally and personally. Going through a company merger, I had to learn quick adaptability as we were merging tools while integrating systems and learned how to use this process through virtual trainings. I always try to see the good, especially when there is a shift or a change, which expresses why optimism is scored high. These results are a reflection of how I handle change in my personal and my professional life. Areas for Change Improvements Reflecting on the change readiness assessment, I am able to determine that there are some categories that need improvements to better handle change. Tolerance for ambiguity, adventurous, and passion/drive are the categories selected as an area for change improvements. When goals are not well-defined and clear, I tend to not perform well, which is consistent to my results of improvement. I am a planner in my personal and professional life, and that unfortunately has taken away from my enjoyable free time as I struggle with a more adventurous approach. That can change by practicing a go with the flow mentality. I can provide suggestions but not be such a planner on every single detail. “Change will always have an element of uncertainty, and your tolerance for this uncertainty will help you make corrections to the change plan and move forward” (Edge Training Systems, 2007). For this improvement, I plan to respond with seeing problems in shades of grey instead of just black and white allowing myself to

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10 Evaluating Change Management Processes: Target practice a new way of thinking. Having a different approach and way of thinking allows a person to create new ways of solving problems by having a different perspective. Change Management Plan Goals Before we begin to establish goals for a company, it is important to fully understand the topic. Change management is described as “a proven methodology used to help organizations successfully implement a substantial transformation or set of changes” (CioPages, n.d.). In the process of change manage, there is a common goal to maintain consistent communication amongst the different departments within the organization where the change is occurring. Open communication will allow everyone the experience the same vision ensuing everyone is on the same page as one another focusing on the growth of the company. All parties involved will participate in weekly meetings to discuss the plan, make suggestions, and share experiences of the process with one another so that everyone is moving in sync in the direction of the company. The weekly meetings will be an open forum where everyone can freely discuss any concerns they may have, and as CEO, I would encourage team suggestions to correct those concerns. The change management plan goals I implement are to promote a culture of passion and innovation. I want to create an environment where employees are not afraid of risks and strive to be successful. I want them to exceed their goals. I want them to be able to think and present themselves as innovative and strategic thinkers that benefit both their personal and professional life. Having an adaptable mindset is a strong assest to possess for the success of any business long-term. As CEO, I encourage being adaptable and encourage change, because change allows risk to improve yourself and your business.

11 Evaluating Change Management Processes: Target Change Management Plan For an organization to successfully achieve their goals, there are a few components within a plan that first must be discussed then implemented. To begin, the organization must establish the why for the change. This will want to be presented thoroughly in writing with a clear expectation of the goals during the change management process. The next step of the plan includes a communication plan of how the team will effectively communicate what and why of the change, which will also include the how the change will be done. Every single person will be involved in this step starting with the senior management team, then to the management team, down to all other employees and stakeholders. In the early stages, we plan for any hesitations to the change. This is normal for any organization to experience hesitation from some of the employees. This could be due to the employees not fully understanding the change. At the completion of having all the employees on board to the change, we will begin to provide the employees with materials which will include interactive training modules. Employees will begin to feel more confident and reassured once presented with all the learning materials with a better understanding of what is to be expected from them and the changes. Training materials will include virtual trainings, role play, focus groups, and on the job training. Training will be conducted until we have the commitment from every single employee of what they need to contribute to the success of the company in the direction in which they are moving towards. The most important step of the plan includes the development of a support team. They will be the subject matter experts and the point of contact for any issues or concerns during the implementation of the change. Open communication will be provided through all levels of employees where we can all work together as one unified team.

12 Evaluating Change Management Processes: Target Measurement Tools and Processes The measurement of success is in intricate step throughout change management. Wren (2020) agrees that measuring change success shouldn’t be the final step in the change management process, but rather a best practice that is essential at every stage. At every step, there will be surveys, assessments, and certifications issued to all employees to ensure we are moving in the right direction together. The surveys will provide any feedback on areas of improvements for future steps. The way we will implement the measurement and its effectiveness of change will consist of personal and organizational. As an organization, we want to track how the change is helping and if we are aiming to achieve our desirable goal. Personally, we want to ensure that every employee is progressing and improving with a positive aspect. Maintaining consistent measurement will indicate and track the overall success of the organization and of our employees. Change Roadblocks and Solutions While an organization is managing change, there might be obstacles the organization needs to overcome. Having a plan and technique already designed will help overcome any roadblocks the organization might come across. The most common roadblock any organization faces is resistance. Resistance may come from employees, or they may come from the consumers and community. This would be a cause as to why the change was unsuccessful and it is important to have preventatives already established. Lack of communication is an example of a roadblock. The organization needs to communicate clearly and effectively and present itself with clarity. A solution to this roadblock would be conducting open forum Q & A sessions that include all levels of employees. This will provide feedback and constructive criticism to get the organization back on track and provide an actively engaging experience.

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13 Evaluating Change Management Processes: Target Conclusion Target is a large corporation that often implements change within their organization. That change is often perceived as small or large. With several thousand employees, it is essential to ensure every single employee is operating on the same page as one another. To ensure the success of Target, they practice effective communication as an important aspect of any change management. The organization will continue to make constant change, but it is crucial to design an effective plan and ensure there are minimal issues when implementing the change management process by utilizing the suggested best practices.

14 Evaluating Change Management Processes: Target References CioPages. (n.d.). Top ten change management models. Edge Training Systems. (2007). Managing change: The complete perspective [Video]. Sillsoft. Krakoff, S. (2023). The 10 best organizational change management strategies. Retrieved from: https://online.champlain.edu/blog/best-organizational-change-management- strategies Miller, K. (2020, March 19). 5 Critical steps in the change management process. Retrieved from: https://online.hbs.edu/blog/post/change-management-process Project Management Institute. (2013). Managing change in organizations: A practice guide. Project Management Institute. Ramlall, S. (2006). Strategic HR management creates value at Target. Retrieved from: https://onlinelibrary.wiley.com/doi/pdf/10.1002/joe.20090 Target Corporate. (2023). Welcome to Target Corporate. Retrieved from: https://corporate.target.com/ Target Financial. (2023, November 15). Target corporation reports third quarter earnings. Retrieved from: https://corporate.target.com/press/release/2023/11/target-corporation- reports-third-quarter-earnings Wren, H. (2020, April 22). Measuring change management success, according to 2 change

15 Evaluating Change Management Processes: Target leaders. Zendesk. Wolf, K. D. (2020, June 19). Words to live by: 5 steps to choosing your team’s core values. The Muse.

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