Abstract This paper discussed about the Starbucks Corporation, the Mission and Vision statement of the Starbucks Corporation and the strategies formulated and implemented by Starbucks in maintaining competitive edge over its competitors. It also discussed about problems recently faced by Starbucks and recommendations to solve the problems and strategies for potential development of Starbucks in near future.
Introduction
Starbucks Corporation is a globalized coffee company operating successfully since 1931.It had its headquarters in Washington and have branches in more than 63 countries. Starbucks is known for its premium quality and high standard coffee. Starbucks coffee is one of the most
…show more content…
Providing a work environment where every individual is treated with respect and dignity.
2. Embracing a multi-diversity component in conducting of the business.
3. Maintaining high quality and standard in purchasing, roasting and fresh delivery of coffee.
4. Providing customer satisfaction at all the times.
5. Giving back to the community and practicing corporate social responsibility principle in the practice of doing business.
6. Performance driven through the lens of humanity and recognizing that profitability is essential to future success.
Strategies currently practiced in Starbucks Corporation
The strategies currently followed in Starbucks are grouped as below:
Product Strategy: The strategy followed by Starbucks in preparing and marketing their products is to be innovative and creative with diversification of the products. Starbucks provides various diversified products which include hand crafted beverages like fresh brewed coffee, hot and ice espresso, fresh foods like baked pastries, sandwiches and salads. As a result of the high quality and diversified products Starbucks is viewed by its consumers as having all day treats and which increases sales and in turn profits.
Store design, planning and construction: In order to attract more customers and to create a unique experience to enjoy,
The Starbucks Corporation is an international coffee company that was founded in Seattle, Washington (Starbucks.com). With 19,435 stores in 58 countries, it is the largest coffeehouse chain company in the world; Starbucks sells a variety of hot and cold drinks. These include espresso
Every American across the country would recognize the Mcdonalds Golden Arch or the Statue of Liberty Symbol embedded in the Logo for “Starbucks”. One thing every American can agree on is that they live within close range if not within a 5 mile radius to one of the most successful fast food chains in America, Dunkin Donuts, Burger King, Starbucks, Subways the list goes on. Unfortunately we cant say the same for healthy food markets or even food at all. It has been proven that healthy food consumption and obesity is in direct relation to the access we have to them in our communities. Food suppliers place they’re franchises or businesses based on the income and demographic of the community, and the likelihood that they will make a profit in the specific neighborhood. For millons of americans, specifically people living in low-income communities of color finding a fresh apple, full service grocery stores, farmers markets, and other vendors that sell other healthy foods are scarcely available or available at all. So as a result people turn to the ease, affordability and convenience of fast food. Every corner in Crown Heights Brooklyn for example you can find a corner store or as we call it “Bodega”, a liquor store, and a Chinese store. To enjoy healthy foods you have to hop on a train to a Trader Joes, or a Whole foods located in a predominantly white neighborhood. Being someone who has went on a weight loss journey in the past I always found this rather disheartening. I knew
Starbucks Corporation, an American company founded in 1971 in Seattle, WA, is a premier roaster, marketer and retailer of specialty coffee around world. Starbucks has about 182,000 employees across 19,767 company operated & licensed stores in 62 countries. Their product mix includes roasted and handcrafted highquality/ premium priced coffees, tea, a variety of fresh food items and other beverages. They also sell a variety of coffee and tea products and license their trademarks through other channels such as licensed stores, grocery and national foodservice accounts.1 Starbucks also markets its products mix with other brand names within its portfolio of companies,
More so than ever in an age of rapidly evolving technologies and global expansion, sustainable competitive advantage depends foremost on a clear sense of organizational purpose (mission) and a compelling vision for success (Campbell & Alexander, 1997). Together, these two key elements define the guiding framework for the insightful creation of value (Campbell & Alexander, 1997) that differentiates an organization from its competitors (Porter, 1996). Thus, knowledge of the critical elements that comprise meaningful mission and vision statements (Aguinis, 2009) becomes essential for achieving sustainable competitive advantage. As testimony, this paper assesses the strategic guidance provided by the mission and vision statements of the
Starbucks Corporation (Starbucks) is a specialty coffee retailer of hot and cold beverages, coffee-related accessories, complementary food items, teas, and other non-food related products. Starbucks has retail stores in 39 countries and about 146,000 employees. The company operates primarily in the United States (U.S.) with headquarters in Seattle, Washington (Starbucks, 2007).
The purpose of this report was to examine the four problems that Starbucks is facing and then find out a way to solve these problems. By analyse these issues, the business’ strategies and the processes of the company will be evaluated. Starbucks’ way of operatiing and how its operation produces the desired outcome will be analysed, in order to find out the company’s major problems and looking for ways to solve these problems. Finally, based on the analysis, recommendations about the
Starbucks Corporation is one of the most famous coffee retailers in the world. According to Starbucks Corporation (2012), it runs over 55 countries in many regions including North America, Asia Pacific, Latin America and so forth. Starbucks headquarter is located in Seattle, Washington, USA. It has approximately 149,000 employees.
The video clip from chapter 2 focused on the marketing plan and its functions. More importantly, the video clip elaborated on the elements of a marketing plan. One of the elements of a marketing plan is the business mission statement. Mission statement is the fundamental element of the marketing plan that explains what business is the firm in and can further affect future trends of the firm, such as profitability and survival. The statement is also based on the analysis of customers’ benefits and industry’s environment.
Create constancy of purpose toward improvement of product and service. Always aiming to remain competitive, stay in business and provide jobs. Strive towards being Excellent.
Starbucks Corporation is a leading international coffee and coffeehouse retail chain based in Seattle, Washington, USA. Starbucks owns and operates over 6,000 retail stores and is the largest coffeehouse company in the world. Its annual sales in 2006 were $7.8 billion and it employed 140,000 people in 39 countries.
In this paper, I will talk about Starbucks Company. I will define the influence of the vision, and mission of the company and primary stakeholders along with their overall success. An examination will be conducted to categorize five forces of struggle and their effect on the corporation. I will carry out a SWOT analysis to determine the opportunities, threats, strengths, and weaknesses. Founded on the SWOT analysis, a technique of opportunities and advantages will be exploited while threats and weaknesses will be diminished. Several types and levels of techniques will be talked over to operate the profitability and competitiveness. I will outline a plan of communication to make approaches known to all investors. Two corporate authorities will be designated to assess the efficiency of the regulating managers. I will also assess the effectiveness of management within the Company and come up with sanctions for upgrading.
McDonalds is the largest fast-food chain, which serves more than 160 countries in the world. The firm grew gradually in the last two decades in terms of market shares, revenues, and its franchise restaurants in the United States and worldwide. Furthermore, the fast-food chain believes that its mission and vision statements will provide and demonstrate the firm?s belief, philosophy, culture for its customers and stakeholders in the long-term. Regarding Starbucks, is the biggest retail coffee enterprise in the United States. The business was established in 1971 in Seattle, Washington. The mission of the company highlights on a welcome atmosphere for customers to come to the coffee shop, experience with the superior customer service, and a great taste of coffee. Unlike its mission statement?s belief, the firm?s vision statement emphasizes that the firm is strongly focusing on its product quality, the principle of the company, and future growth as well.
"Starbucks mission: to inspire and nurture the human spirit – one person, one cup and one neighborhood at a time. Starbucks is committed to a role of environmental leadership in all facets of our business." (Starbucks 2014)
They must create their stores to standards of LEED® certification and make sure that their method to design, build, and maintain stores is generally including all environmental goals ranges. They must try to shrink their environmental path and fulfill the customer’s expectations by growing recycling, endorsing re-usable cups, plus, cutting down the associated waste with cups along with other packaging materials. Also, they must try to conserve their water and energy use. And, buy credits for renewable energy, they are pushing their selves to cut down the environmental operational path and assist to make sure right entry to clean coffee-growing water communities. Since the year 2004, they have been following different methods to deal with the challenge as well as assist farmers alleviate the climate change impact.
Coffee is the third most valuable product that trades internationally which involved the exchange of raw coffee beans across national borders. Coffee bean did give rise to a world economy, affect and are affected by global events. The international trade of coffee bean from the undeveloped countries to developing countries and developed countries is because the modern state does not have resources and capacity to satisfy their own needs and wants. Meanwhile, the countries in Africa are better at producing coffee beans than others.