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Starbucks' Strategy andInternal Initiatives to Returnto Profitable Growth (case study) - Essay Example

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Starbucks’ Strategy and Internal Initiatives to Return to Profitable Growth Name: Institution: STARBUCKS’ STRATEGY AND INTERNAL INITIATIVES TO RETURN TO PROFITABLE GROWTH (CASE STUDY) Starbucks began as a small enterprise when Jerry Baldwin, Gordon Bawker and Zev Siegel opened it in the year 1971…
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Starbucks Strategy andInternal Initiatives to Returnto Profitable Growth (case study)
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Starbucks' Strategy andInternal Initiatives to Returnto Profitable Growth (case study)

On top of this, Schultz added cold coffee drinks, coffee related equipment and accessories, a compact disc line, espresso beverages, and food into the menu in various retail stores. Starbucks also seeks to make the company a comfortable and a great place to work. This maintains employee satisfaction at Starbucks, which is done via offering its staff competitive wages, as well as benefits packages that include an option on stocks. Starbucks has been faced with many challenges that have seen its strategy evolve. Starbucks has been faced with many challenges that have seen its strategy evolve. Q. 1) What was Howard Schultz’s original strategic vision for Starbucks? Is his 2010 strategic vision for Starbucks different from the one he had in the 1980s? How many times has his strategic vision changed? Is his present strategic vision likely to undergo further evolution? Howard Schultz’s original plan for Starbucks involved the creation of an Italian style “espresso bar” retail chain, which would also sell coffee related equipment and the coffee beans, as well as expand the corporation out of Pacific Northwest, inclusive of Chicago (Shah & Thompson, 2010). Schultz envisioned the use of top quality dark roasted coffee beans. Customers could come to the bar to pursue a perfect cup of coffee, getting a worthwhile experience out of it. He also aimed to create a company that would make employees proud of it. Schultz revised the strategy in the 1990’s to add food items into the menu at Starbucks. This led to the growth of new channels of distribution for Starbucks’ products. Additionally, the vision also included the expansions of Starbucks Corporation into foreign markets and institute global branding (Shah & Thompson, 2010). The Starbucks logo was also changed to green from brown in order to symbolize Il Giornale merger with Starbucks, which created the espresso bar and the retail coffee bean store. These stores have become the signature of Starbucks Corporation. His strategic vision evolved as the situation with Starbucks changed with the emergence of new opportunities. This indicates that his strategy will evolve again as more opportunities and threats come up. Q. 2) Has Starbuck’s strategy evolved as the strategic vision has evolved? Starbuck’s strategy has evolved when compared to their initial vision statement. This has been occasioned by the changing goals of the company as competition heats up and new opportunities arise. All companies have goals but these goals could move towards another aim point, which, in essence, causes a change of strategy (Shah & Thompson, 2010). Q. 3) Which competitive approach is Starbucks employing? Starbucks is employing focused differentiation as its competitive approach (Shah & Thompson, 2010). Starbucks aims at serving its niche customers better compared to its rival competitors, by focusing on the special, distinctive and unique needs of their customers. Starbucks has the unique capability to serve the target buyer segment’s capabilities because it is large enough to accrue profit while also offering potential for good growth (Shah & Thompson, 2010). Additionally, it is difficult or costly to for other multi-segmented competitors to satisfy the niche member’s specialized needs. Starbucks, however, has the capabilities and resources to execute this. Finally, very few rival competitors have specialized in the ... Read More
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