Starbucks BSC
Scoring Starbucks: A Balance Scorecard AnalysisUniversity of Maryland University CollegeDMBA 620October 17, 2014Executive Summary
I signed a non-disclosure agreement with my current firm. I am unable to speak to the operations, strategy, and performance of the Fannie Mae. For this reason I have chosen Starbucks to analyze. Starbucks is an organization that has a wide moat. The Balance Scorecard as created by Norton and Porter focuses on several areas, which include the following: Financial Perspective, Customer Perspective, Business Process Perspective, and Learning Growth Perspective. Having spent a respectable amount of time at Starbucks this evening I have come to the conclusion that Starbucks that the best place to start is to focus on the learning and growth perspective. Starbucks is a “premier roaster, marketer and retailer of specialty coffee in the world, and “formed in 1985” (Starbucks Corporation, 2013, p. 2). When you are premier, marketing, or specialize in something learning and growth is required. The three objectives under learning and growth should include becoming a premier roaster visionary past the use of the internet (which entails thinking out of the box), continuous improvement nationally and internationally, and listening to the customer base old and new. These can all be achieved by continuous polls of the customer nationally and internationally, continuing to monitor buy and spending habits as they do with social media and apps, but the company may need to improve upon the specialty drinks and ways that it roast coffee as it so proudly touts. The company is an innovator, so innovation should continue to be mainstay.
Internally the business could improve with various initiatives that include monitoring and maintaining a friendly price point for consumers. The company should not succumb to increasing its prices to compete with other roasters. Continued and ramped awareness of the price point the consumer will pay for specialty
I signed a non-disclosure agreement with my current firm. I am unable to speak to the operations, strategy, and performance of the Fannie Mae. For this reason I have chosen Starbucks to analyze. Starbucks is an organization that has a wide moat. The Balance Scorecard as created by Norton and Porter focuses on several areas, which include the following: Financial Perspective, Customer Perspective, Business Process Perspective, and Learning Growth Perspective. Having spent a respectable amount of time at Starbucks this evening I have come to the conclusion that Starbucks that the best place to start is to focus on the learning and growth perspective. Starbucks is a “premier roaster, marketer and retailer of specialty coffee in the world, and “formed in 1985” (Starbucks Corporation, 2013, p. 2). When you are premier, marketing, or specialize in something learning and growth is required. The three objectives under learning and growth should include becoming a premier roaster visionary past the use of the internet (which entails thinking out of the box), continuous improvement nationally and internationally, and listening to the customer base old and new. These can all be achieved by continuous polls of the customer nationally and internationally, continuing to monitor buy and spending habits as they do with social media and apps, but the company may need to improve upon the specialty drinks and ways that it roast coffee as it so proudly touts. The company is an innovator, so innovation should continue to be mainstay.
Internally the business could improve with various initiatives that include monitoring and maintaining a friendly price point for consumers. The company should not succumb to increasing its prices to compete with other roasters. Continued and ramped awareness of the price point the consumer will pay for specialty
References: Balanced Scorecard Institute website. (1998-2014). http://balancedscorecard.org/Starbucks Corporation. (2012, December 5). Financial Release [Press release]. Retrieved from http://investor.starbucks.com/phoenix.zhtml?c=99518&p=irol-newsArticle&ID=1764541Starbucks Corporation. (2013). Form 10-K [Annual Report]. Retrieved from http://investor.starbucks.com/phoenix.zhtml?c=99518&p=irol-SECText&TEXT=aHR0cDovL2FwaS50ZW5rd2l6YXJkLmNvbS9maWxpbmcueG1sP2lwYWdlPTkyMzcxMDYmRFNFUT0wJlNFUT0wJlNRREVTQz1TRUNUSU9OX0VOVElSRSZzdWJzaWQ9NTc%3d