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Strategic Planning And Influential Factors Of The Starbucks Corporation

1485 words - 6 pages

Strategic Planning and Influential Factors of the Starbucks CorporationStrategic Planning and Influential Factors of the Starbucks CorporationWake up and smell the coffee. The world's #1 special coffee retailer is here and it is located everywhere. Starbucks has 12,440 stores worldwide, including 7,102 company-operated stores and 5,338 licensed locations in 37 countries (primarily shopping centers and airports) and it is the most recognized brand in the world. Starbucks shops offers coffee drinks, food items, coffee beans, coffee accessories, teas, and CDs. This paper will analyze Starbucks strategic planning through globalization opportunities and conduct a SWOTT (Strength, Weaknesses, Opportunities, Threat, and Trend) analysis.Globalization & Strategic Planning of StarbucksGlobalization is the tendency for businesses, technologies, or philosophies to spread throughout the world and allow a company to expand beyond its normal boundary(TechTarget, 2003). Strategic planning involves making decisions about the organization'slong-term goals and strategies (Bateman-Snell, p.112). Starbucks Coffee Company strategic vision goes beyond meeting its customers' daily needs by being active in the community and has an environmentally safe operation. It is one of the fastest growing companies in the country. The more a company decides to grow the more risk it will incur because the business world is always changing and an effective strategic plan is needed to cope with the daily changes. Starbucks is the only competitor in the coffee bar market that has a recognized brand image. They are known for their ability to adapt to changes in the business world. As a result, customers receive better products and services and wealth maximization for the shareholders are in effect.Adding globalization into Starbucks's strategic plan will allow the company to expand its business and increase its revenue. There are things they need to consider before they open any new stores around the world. Their main long term goal for globalization is to focus on how they can satisfy their customers worldwide. Starbucks can accomplish this goal by being the best coffee provider and offering a customer friendly environment. For example, providing free Internet connection will attract college students to business people to take a sit and have a coffee and/or a snack while using the Internet. Expanding and introducing new food and beverage products that are accepted domestically and internationally is a step towards globalization.Gaining trust in a foreign country does not happen overnight. To gain acceptance in a foreign country, Starbucks needs to strengthen its relationship with local people and government. Adding community services to the company's strategic plan can only help in its effort towards globalization. Helping the local neighborhood park or supporting relief efforts after a natural disaster are some ways Starbucks can contribute to the foreign communities. As a result,...

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