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Strategic Management of Starbucks - Case Study
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Added on 2020-07-22
Strategic Management of Starbucks - Case Study
Added on 2020-07-22
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Strategic Management
Table of ContentsINTRODUCTION ..........................................................................................................................3TASK 1 : Presentation of the Starbucks. ........................................................................................31. Introduction of the Starbucks, their products, services and market........................................32. The mission, vision, strategic goals and objectives of the Starbucks.....................................3P3 Consistency towards the purpose and vision.........................................................................4P4 Importance of leadership and stakeholders in strategy formulation and implementation. ...4P5 The significance of ethics in the Starbucks coffee company for the formulation of strategicplan..............................................................................................................................................5TASK 2 : Internal and External environmental analysis.................................................................5P6 PESTLE analysis on the Starbucks .......................................................................................5P7 Porter's five forces framework within the Starbucks coffee company..................................6P8 The VRINE model in context to the Starbucks and ways to achieve competitive advantageand improved performance ........................................................................................................7TASK 3............................................................................................................................................8P9 Strategic implication analysis................................................................................................8P10 Future strategies for the Starbucks for achieving the leading position................................8CONCLUSION................................................................................................................................9REFERENCES..............................................................................................................................10Books and Journals...................................................................................................................10
INTRODUCTION The object of this assessment is to identify the strategies and their management within theStarbucks. The journey of the Starbucks form a small coffee shop to a leading coffee retailer inworld is quiet interesting and the reason behind this achievement is related to its strategicmanagement(Hill,Jones and Schilling,2014). This report includes a brief presentation of theStarbucks, its products and services, Vision and mission etc. The various theories and approachesare applied to analyse the company's business environment within which it operates its businessoperations. Furthermore, the report will provide the strategic implication of the analysis. TASK 1 : Presentation of the Starbucks. 1. Introduction of the Starbucks, their products, services and market.The Starbucks coffee was started in the year 1971, its headquarter is situated in theSeattle, Washington. The company was started with only one small coffee shop and is currentlythe top most coffee brand and retail company across the world. The Starbuck's objective and goalis to be the leading retailer and brand to sell the best coffee and relevant goods in a globalmarket. The company focuses on the global market, which includes almost all countries in theworld. It has a wide market share all over the globe. The Organisation has around 15000 stores in50 different states within the UK. It also operates more than 1000 stores in 45 different countriesall over the world. It also supplies the products to various channels like supermarketsetc(Peppard and Ward,2016).The Starbucks serves a huge variety of products, which includes different food items,beverages and non food products as well. The products of the Starbucks are Sandwiches, Brewedcoffee, Mugs, pastries, coffee-makers etc. The company focuses on providing quality products totheir customers with the best services in the market. The Starbucks has unique quality productswhich creates a niche market. The brewed coffee has no substitutes within the market. Thecompany purchases the coffee bean and process it to make quality food items and beverages.2. The mission, vision, strategic goals and objectives of the Starbucks.Few years back the Starbucks had a mission statement, “To become the most respectedand popular brand in the world and establish itself as a national company with guiding principlesand values that the employees could be proud of” This statement was not much effective andreliable. Becoming the most respected and recognised brand is not an achievable objective, butthe statement also state to become an organisation with values which can be trusted. Therefore,
the company decided to modify and change its vision and mission statement, “To inspire andraise the human spirit – One person, one cup and one neighbourhood at a time”. The newstatement of the company reflects the focus on its customers. The statement has two parts one isthe human spirit and the second is the oneness, The drawback of this statement is that it do notinclude the markets or employees. Despite of the mission statements the Starbucks has cleartargets and objectives to become the leading brand of coffee and its retailing in the world orglobal market. The objectives determine that the company wants to stand at the first or top mostposition in the market. The organisation's mission depends upon the quality of services and products it provides.The Starbucks coffee company ensure that the quality of their products stay unique andunbeatable, which is helping them to lead the competition within the market. The companyfocuses on the quality and services to attract the customers so that it can hold the position it hasin the market(Aguinis and Edwards and Bradley,2016).P3 Consistency towards the purpose and vision.The Starbucks vision and purpose is to be at the top position in the coffee retailing andbrand and it has successfully achieved this target since years. The consistency of leading theindustry is obtained by the promising quality and services to the customers. The Starbucks isalways improving their products and services which helped them to build a trust among thecustomers. This helped the company to sustain the vision and purpose since years.P4 Importance of leadership and stakeholders in strategy formulation and implementation. The leadership and the stakeholders has an important role in the development andimplication of the organisational strategies. They are the medium which connects the businessvision with the strategic management. The leadership and stakeholders provides the roles, valuesand vision to the organisation according to which the management formulate the plans andstrategies and further implement them within the organisation. The Leaders and stakeholdersprovides a thinking and ideas to the employees or organisation which determine and identifieswhat are the objectives and goals of the business and its operations. The strategic managementanalyse these targets and makes appropriate strategies to obtain the goals. Therefore, theleadership and shareholders are the important element for the formulation and implementation ofthe organisational strategies and plans.
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