Running Head: Starbucks Strategic Initiative Starbucks Strategic Initiative Introduction Starbucks Coffee Company has not been immune to the current economic downfall. Once basking in unwavering success, Starbucks now faces the challenge of retaining its customer base, which in the wake of economic struggle, has begun purchasing their coffee from less expensive competitors. Starbucks Coffee Company has wisely taken steps in their most recent annual meeting to address the issues of losing business and customers via numerous strategic planning initiatives. In the following paper, we will briefly detail two strategic planning initiatives enacted by Starbucks Corporation, as well as how such initiatives impact the company’s financial planning. Strategic Planning During Starbucks Coffee Company’s annual meeting, a series of innovative customer-facing initiatives were unveiled.
Starbucks started with one single coffee shop but has developed much more over the years. They highly regard their employees, who they refer to as partners, and that is the first step in measuring their success as an organization. Starbucks owns and operates its own factories, warehouses and retail stores and they are in charge of their own merchandising as well. Starbucks’ vision is apply its name to more than just coffee products. These goals have allowed Starbucks to achieve such success in both the domestic and global markets.
The book “Pour Your Heart Into It” was well written by the former chairman and C.E.O of Starbucks - Howard Schultz narrated his personal life along with all good and bad times of Starbucks in building a business. The story inspired readers, especially future business leaders, to believe and be passion about your dreams. From Howard’s biography to the growth of Starbucks, Howard presented the important factors to build a business and also to be a great leader. Management is one of the most value lessons that I have from the book. The strategy Howard for hiring people was looking for people who had the same vision for the growth of Starbucks and passion with coffee.
Although Starbucks does face much competition, one of their biggest threats seems to be themselves. They have grown quickly which means they had to spend numerous amounts of money to open new stores and expand their products. “The company had its success through baby boomers in the 90’s, but now the Generation X is not liking the environment of the shop and the young generation feel out of place in the coffee shop, above all the price of coffee seems to be little expensive to them ("Case: Starbucks- Going Global Fast", 2012)”. With Starbucks wants to grow r rapidly and business oriented, it could be possible that they forget how to give customers that one on one customer service. Starbucks was a coffee shop that allowed friends to come together over a cup of coffee and now it has expanded with Wi-Fi in stores, and online stores.
| | INTRODUCTION Background Information As one of the oldest coffee shops atop Burnaby Mountain, Renaissance coffee has played strong role in shaping SFU’s history. Now, after fourteen years in operation, the company has opened three coffee shops, and continues to build its reputation as a leader in the SFU Burnaby community. The coffee company actively participates in graduation ceremonies, and gives back to SFU in the forms of a Bursary Fund and a yearly Community Service Award. Never serving a cup of coffee that he himself would not drink, owner Parminder Singh Parhar is able to main a great customer
When someone says they are going to get a drink from Starbucks, without thinking, you automatically are filled with images of a high-end coffee shop and can maybe even smell the brewed coffee. Without even realizing it, every aspect of Starbucks has been carefully chosen to persuade customers to enter the store, and to buy their coffee (Ruzich 433). In this rhetorical analysis/commentary of Starbucks I will be going in depth on the authors article about Starbucks. Not only does Starbucks persuade a person to buy their coffee, but also the warm, cozy atmosphere makes a person feel at home so it gets them to stay in the coffee shop even longer. Purpose: Ruzich’s purpose in this article is to inform the reader of the reason why Starbucks has become such a sensation.
When one needs to get an energy boost, they will usually turn to coffee. In past years, coffee was a slow product to make unless one wanted to pay for a premade cup brewed at a store. According to The Keurig Story (2012), since 1998, Keurig has changed the market by offering an at home single cup coffee maker with speed and efficiency that the consumer market demands. Product Description Single cup coffee brewing systems are the leading technology in the coffee industry today. Keurig, Inc. is among the top producer of the single cup coffee brewing systems.
Moreover, after discussing the relevant theories and concept, the recommendations for Starbucks are the face-to-face interaction and improve their housekeeping during busy times. Introduction This paper is focused on three topics of one organization. The topics that are going to examine in the context are Customer relationship marketing, Service quality and Service communications, and the chosen organization is Starbucks, it is a restaurant as well as café. In Hong Kong, Starbucks is a very famous restaurant, when people mentioned Starbucks, definitely everyone knows it and always goes there, besides, in foreign country, Starbucks is always people’s choice to go for a meal or a cup of coffee too. Nowadays, people who go to a coffeehouse coffee is not is not only a want for the quality and the taste of coffee, eating or drinking in there is a symbol of new spiritual and high quality lifestyle, this generation also pursuit of trendy.
In 1987, Howard Schultz acquired Starbucks and ran with the idea that a barista-type coffee house was going to be the wave of the future. It was. 17,000 stores and 137,000 employees later, Schultz has proven time and time again that he has a viable product regardless of hard economic times. However, how can a giant like Starbucks stay on top of the coffee market yet be an ethical and sustainable organization? Starbucks continuous strive and strategic management plans have proven beneficial in keeping to the goals of the organization.
For employees, Starbucks has created a partnership attitude and a “Special Blend” (Working at Starbucks, 2011) of benefits. Workdays routinely start with coffee tastings with your partners while having an open forum for any questions, issues or new idea suggestions. All efficiency ideas are presented to the management for feasibility. The corporate philosophy is that the best decisions are made in each individual store; focus groups at the corporate level are discouraged. Employees can create their own “special blend” of benefits including retirement plans, stock purchase plan, adoption assistance, a free pound of coffee each week, paid time off and bonuses.