Business Report of Starbucks
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Added on 2019-09-30
Business Report of Starbucks
Added on 2019-09-30
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Starbucks: Contemporary Developments in Business and Management[DOCUMENT SUBTITLE]STEPHEN OMOROGHOMWAN[Year]
Running Head: Business ReportContentsExecutive summary.....................................................................................................................................3Introduction.................................................................................................................................................5Task 1..........................................................................................................................................................6Primary external influences.....................................................................................................................6Importance of External influences to the Organization..........................................................................10Task 2: Demographic Factors....................................................................................................................12Influence of Demographic factors on Policies and Decision-making within Starbucks.........................13Critical evaluation of the effectiveness of the company’s response.......................................................15Areas of improvement in the responses.................................................................................................17Conclusion.................................................................................................................................................18References.................................................................................................................................................19Appendices................................................................................................................................................23Appendix 1: Company Profile...............................................................................................................232
Running Head: Business ReportExecutive summary(there should be a brief intro before going on to talk about the problems and your findings and recommendations should not be bullet pointed but rather in a full sentence) ProblemsThe company is striving to become a global brand and for this it has tripled its revenues over the past 5 years. To increase the pace of the growth the country has not only targeted all sorts of markets in its homeland, but has also amended its taste to meet the needs of the customers outside the US. Different nations have a different Environmental laws and policies to which a foreign company adheres in order to deliver its services without any hindrance.The company’s success highly depends upon the type of Coffee beans it is supplied with and if an Environmental disaster hits a country in the coming future hen it may have a drastic impact onthe quality of the coffee beans being supplied to the outlets. The quality and production of Coffee may also be hampered by the Global warming issues prevailing in the world.Starbucks is currently leading the Coffee retail market by selling its products at the premium prices to increase their profitability. But the emerging competition in the Coffee industry is posing a great threat to the existence of the Starbucks in the current and potential markets. The economic recessions in a country are also accompanied by the low-priced coffee offerings at the 3
Running Head: Business Reportfast-food stores. In order to remain in the top position, Starbucks has to ensure that it does not violate any laws and regulations of a country. This applies both for the home market as well as the foreign markets. Key findingsThe demographic factors present in the markets that influences the working of a companyincludes sex, age, education, marital status, income level, religion, family size, geographic region, etc.Coffee plays a pivotal part of everyday life in the US and other foreign countries. According to a recent report, more than 60% of the US households use either whole or ground coffee beans at home. The customers are the major asset for a business and their perceptions keep on changing with time. The company needs to align its operations and strategies with these changing behaviors.Starbuck is known to serve its customers with premium-priced coffee products which could not be afforded by the people falling under medium to low-levels of income.The Lifestyle of people in European and Asian countries is changing with time. At present these changes include long working hours in offices and homes. This change has made coffee, the most desirable drink of such people.High caffeine content often increase pulse rates and may lead to myriads of heart-related issues, hence it is recommended by doctors to patients with high blood pressure and heartailments to avoid caffeine in daily uses.Recommendations4
Running Head: Business ReportThe company could respond to the income levels factor by introducing some low-priced food products and beverages Starbucks could also work on its pricing strategy so that it could target all sorts of customers in myriads of markets. Targeting different types of consumers with a single product will definitely give a great experience to the company’s employees to evaluate The company could seek alliance with the local marketers and experts who already have a great knowledge of their domestic markets. Task1 IntroductionManagement plays a pivotal role in every organisation as it clearly determines the short and thelong-term goals for the business along with the variety of strategies that could be employed toachieve them in the given time frame. In the recent times, the researchers in this field areconstantly reporting the presence of a number of interlinked variables that interacts to highlyinfluence the ways in which a firm delivers its services. The following report has been written undertaking the discussion over a leading American coffeecompany and a coffee house chain, Starbucks. In the first part, the report will closely evaluatethe primary external factors that influence the working of the company. In the second segment,the report will unveil the myriads of demographic factors that are constantly influencing theworking methodologies, Policies and Decision-making process of this leading giant. In this part5
Running Head: Business Reportthe responses from the company towards these influences are also critically evaluated along withthe suggestion of areas of improvement. 6
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