The Risk Management Plan For Starbucks

880 WordsOct 25, 20144 Pages
Businesses face a Variety of risks every day. These risks usually have a negative impact on performance and financial condition. Without an effective risk management plan, organizations would not grow and thrive. In this paper, we developed a risk management plan to help us identify, evaluate and treat all potential risks faced by an organization. The risk management process will focus on the frequency and severity of potential losses, with a view to risk control or risk finance. Introduction: Starbucks, founded in 1985, is the world’s largest coffeehouse chain, with more than 19,000 coffee shops in 62 countries. Starbucks product mix includes specialty coffee, hot and cold beverages, fresh food items, and other items such as mugs and coffee grinders. Starbucks-brand coffee, refreshers, and ice cream are also offered at grocery stores. Mission: “to inspire and nurture the human spirit – one person, one cup and one neighborhood at a time.” At Starbucks, it is all about quality. Starbucks strives to maintain a positive brand image within the company itself and also within the communities they serve. The company 's passion is expressed throughout its products, engaging baristas, and modern store designs, all directed towards enhancing the “Starbucks experience” for its customers. With these high goals and standards as well as the desire to deliver the best service within all of its locations, the company is exposed to various types of risks. The frequent potential losses

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