Strategic Management : Mission And Objectives

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The chart below again takes into account the strengths, weaknesses, opportunities and threats that have been discussed previously. However, with the EFAS and IFAS tables, all aspects of each category were taken into account to calculate the weighted score. With the SFAS, it only takes the strongest aspects of each category. It also calculates the duration of each factor. As with the other analysis summary’s, industry standard remains at 3.0. According to the calculation table below, Starbuck’s SFAS, weighted score is at 3.2. This indicates that although, they are leaders in the industry they need to remain diligent in their strategic management. Review of Mission and Objectives According to all three summary analysis tools that have been utilized, the EFAs, IFAS, and the SFAS, these tools indicate that Starbucks understand what their mission, vision and goals are. They also understand that they need to continually assess where their current strategic plan is placing them in their market and what weaknesses and threats continuously remain for them. Starbucks understands that with corporate parenting they will be able to build “synergy” throughout their company structure (Hunger, Wheelen, 2011, p. 90). All three reports indicate that the need for foreign vertical integration and supply chain management are concerns for them, but with the disciplined strategic vertical growth plan and continual reassessment of this plan, they should be able to grow their foreign
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