Starbucks Coffee in the 21st Century Su
1. Summary Report
Contents
Introduction 2
Identification of key issues 2
Analysis of key interests of the stakeholders 3
Risk factors for consideration 3
Identification of options and solutions 4
Defining decision statement (determines, select or develop) 4
Identifying goals (relevance, reasonableness): 4
Defining indicators and scales (relevance, measurability, future-focused): 4
Weight indicators (specific, prioritized) 5
Generate alternatives 5
Compare and choose 6
Conclusion 6
References 7
Introduction
In today’s complex business scenario, consumers are getting smarter day by day and don’t wish to settle on old products or services. Hence, it puts pressure on businesses to keep adding innovation to their products and presenting customers with something new every time. In order to make customers coming back again, businesses improve their strategies and also look for ways to enhance their marketing processes (Neilsen, 2006). This assignment is based on the business improvement strategies and examines various concepts by considering the case study of Starbucks Coffee in 21st century. It identifies key issues, analyzes the interest of key stakeholders, considers the risk factors and finally identifies the solution to address these issues effectively.
Identification of key issues
Every business tends to face some kind of challenges, irrespective of whether it is successful or not. A successful and world’s leading coffee brand, Starbucks also face numerous challenges in spite of winning many awards and recognitions across globe (Neilsen, 2006). Some of the key challenges are:
One of the most obvious challenges faced by Starbucks is the financial crisis in the United States of America. As a reason, the company decided to close its stores including the popular ones. The company spokespersons declared in public that Starbucks would close around 600 stores depending on wide-ranging factors.
Second major issue faced by coffee company was from its competitors.
Contents
Introduction 2
Identification of key issues 2
Analysis of key interests of the stakeholders 3
Risk factors for consideration 3
Identification of options and solutions 4
Defining decision statement (determines, select or develop) 4
Identifying goals (relevance, reasonableness): 4
Defining indicators and scales (relevance, measurability, future-focused): 4
Weight indicators (specific, prioritized) 5
Generate alternatives 5
Compare and choose 6
Conclusion 6
References 7
Introduction
In today’s complex business scenario, consumers are getting smarter day by day and don’t wish to settle on old products or services. Hence, it puts pressure on businesses to keep adding innovation to their products and presenting customers with something new every time. In order to make customers coming back again, businesses improve their strategies and also look for ways to enhance their marketing processes (Neilsen, 2006). This assignment is based on the business improvement strategies and examines various concepts by considering the case study of Starbucks Coffee in 21st century. It identifies key issues, analyzes the interest of key stakeholders, considers the risk factors and finally identifies the solution to address these issues effectively.
Identification of key issues
Every business tends to face some kind of challenges, irrespective of whether it is successful or not. A successful and world’s leading coffee brand, Starbucks also face numerous challenges in spite of winning many awards and recognitions across globe (Neilsen, 2006). Some of the key challenges are:
One of the most obvious challenges faced by Starbucks is the financial crisis in the United States of America. As a reason, the company decided to close its stores including the popular ones. The company spokespersons declared in public that Starbucks would close around 600 stores depending on wide-ranging factors.
Second major issue faced by coffee company was from its competitors.
References: Neilsen, F. (2006). “The Story of Starbucks.”, Cand.Merc. International Marketing and Management Journal, pp. 2-56 Starbucks Annual Report, 2013. [Online] Available at http://news.starbucks.com/uploads/documents/Starbucks_Fiscal_2013_Annual_Report_-_FINAL.PDF Part II -Item 5 of Annual Report- [Accessed on 29 Sep 2014].