EXERCISE 9.4 Interpreting the Interpreter: Change at Target LO 9.4 Target in 2019 was one of the 10 largest retailers in the United States (Walmart was no. 1). . but it has had to deal with some difficult times. In the decade to 2014, Target's earnings dropped from $3.2 billion to $1.5 billion with net income as a percentage of sales sim- ilarly dropping from 4.6 percent to 2 percent during this period. These were key ele. ments of the context into which Brian Cornell arrived in August 2014 as Target's new CEO. Some of the actions he then took included: 1. He made an impromptu and incognito visit to a Target store in Dallas to talk to cus- tomers. Not recognized by store employees or customers, he sought candid opinions from shoppers. This action by the CEO was a surprise to Target executives because it was a significant departure from past practice. Prior to Cornell's arrival, store visits had occurred-supposedly as intelligence-gathering exercises--but they had been "meticulously planned affairs, only less formal than, say, a presidential visit" with the store managers notified in advance and the 'regular shoppers' handpicked and vet- ted" (Wahba, 2015, p. 86). 2. When he first arrived at Target's headquarters (in Minneapolis), Cornell was allocated the newly refurbished CEO's suite, but he insisted on moving to a smaller office close to Target's global data nerve center. The 10 staff members in this center monitored live feeds from social media-including Pinterest, Facebook, and Twitter--and from TV stations to locate stories and information on product launches, customer com. ments, etc. The nerve center staff watched social media on large screens and used software to aggregate data for later analysis. 3. With the intention of putting pressure on Amazon and Walmart, Cornell changed Target's policy to one offering free shipping for online orders during the holidays, a "decision that was made in a matter of days rather than the months it would have taken in the past" (Wahba, 2015, p. 88). 4. It was not unusual for Cornell to ask colleagues about their work-life" balance and especially their workout habits. He encouraged colleagues to take time for fitness activities and wasn't the type who exalts the machismo of outlandish hours" (Wahba, 2015, p. 88). 5. Cornell relaxed the company's dress code and ate in the company caf where he mixed with staff. 6. He moved the company's recruitment policy to change the situation from one where Target was "long populated by lifers" to one making more effort to "recruit outsiders with fresh ideas" (Wahba, 2015, p. 94). 1. Explain 4 symbolic acts that were done by the CEO that were effective in signaling a culture change. Use a paragraph for each act so there will be 4 paragraphs in this section. 2. Explain 2 OD values (or principles) that he used. Use a paragraph for each one so there will be a paragraphs in this