Principal Business Designer, New VenturesApply Now Job ID: R0000061055 schedule: Full time Location: 33 South 6th Street, Minneapolis, Minnesota, United States, 55402-3601;
Target’s New Ventures and Accelerators team (NVA) seeks to prove out innovative concepts spanning the entire enterprise – new value propositions, omnichannel experiences and digital products, or exploration of use cases of emerging technologies. Working in cross-functional project teams (including business designers, UX, product, research, engineers), the team leverages experimentation and prototyping to test into and define the future of retail for Target.
Business design merges the customer-centric nature of human-centered design with traditional business tools and financial analysis to assess across the desirability (do guests want it?), viability (should we do this?) and feasibility (can we do this?) of new concepts. The business design team brings the traditional strategy/consulting toolkit (e.g., structured frameworks, financial analysis) to a cross-functional New Ventures team to identify, prototype, and experiment into new retail offerings and business models. In partnership with the other functional areas, business design leads the process of identifying and structuring solution sets, developing critical hypotheses, articulating success metrics, gathering and analyzing data, and compiling into a business case.
As a Principal, you will:
- Oversee and drive the execution of work to ensure quality of problem solving, execution, synthesis, and communication of results
- Lead problem solving and structured analysis around competitive benchmarking, experiment design, data collection & analysis
- Create structured approach to identify the core problem/solution sets and articulate critical hypotheses & riskiest assumptions
- Lead financial and business analysis, making sense of data gathered from disparate data sources as well as proxies from other industries/products. Build financial models to quantify potential impact
- Create executive level presentations; guide the development of the business case/narrative, synthesizing consumer research, financial analytics, and in-market testing into cohesive story and recommendation
- Coach and develop project team members
- Collaborate cross-functionally across the enterprise and effectively influence without authority to drive business decisions and advance long-term innovation efforts
- 4 year college degree; post graduate degree preferred (MBA)
- Minimum of 4 years work experience after graduate school. Equivalently 10+ years of experience with strong emphasis on digital, ecommerce, or technology related field in lieu of post graduate degree
- Prior experience in project leadership with a top management, innovation, technology consulting firm (e.g., Bain, IDEO) or in a Fortune 100-level corporate strategy group ideally with subject matter expertise in digital oriented businesses or technology
- Experience in systematic approach to strategic problem solving including: define/reframe key questions, develop hypotheses, structure quantitative and qualitative analyses to develop insights, formulate well-founded recommendations, and communicate narratives
- Ability to conceptualize new business models, diagram cash flows and build profit projection models
- Highly structured thinker and executor; able to manage through ambiguity
- Excellent written and verbal communication skills with the ability to present complex technical information in a clear and concise manner to variety of audiences
- Ability to effectively own complex projects that entail frequent interaction with senior executives
- Experience in design thinking and related concept design techniques a plus
- Demonstrated ability to work on multiple, disparate projects at the same time, simultaneously managing working team, partner, and senior executive relationships.
- Track record of building strong working relationships with executive leaders across functions and businesses
- 5+ years of people management experience required, including leading leaders of people
- Directly lead and/ or coach teams through a systematic approach to strategic problem solving such as disaggregation, design research, and/ or prototyping methodologies.
- Strong conceptual skills, including ability to translate consumer research and observations into actionable opportunities.
- Excellent listening and problem disaggregation skills.
Americans with Disabilities Act (ADA)
Target will provide reasonable accommodations (such as a qualified sign language interpreter or other personal assistance) with the application process upon your request as required to comply with applicable laws. If you have a disability and require assistance in this application process, please visit your nearest Target store or Distribution Center or reach out to Guest Services at 1-800-440-0680 for additional information.
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