THE BALANCED SCORECARD 1 Why businesses need a balanced scorecard The balanced scorecard was developed by US academics Robert Kaplan and David Norton in response to the shortcomings of traditional financial measures. Traditional financial measures are one-dimensional. By definition‚ they only look at the financial aspects of a business. Traditional financial measures are historical. They tell us nothing about what may happen to the business in the future. There are many examples of businesses
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DISCUSS THE DIFFERENT PERSPECTIVES AND CONCERNS OF THE BALANCED SCORECARD The balance scorecard is used as a strategic planning and a management technique. It is widely used in many organizations‚ regardless of their scale‚ to align the organization’s performance to its vision and objectives. The scorecard is also used as a tool which improves the communication and feedback process between the employees and management‚ and to monitor performance of the organizational objectives. There are four
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Prepared for: Starbucks Coffee Submitted: Thursday‚ 2nd February 2012 Prepared by: • Velisya (551496) • Aktalisa Tifany (548994) • Steffany Ciputri (551288) • Gabriela Tiffany (546561) Executive Summary This essay discuss about how Starbucks utilizes its marketing mix in order to gain market share. Starbucks‚ which has been in the coffeehouse industry for 41 years‚ face higher competition than before. Even so‚ Starbucks is able to not only survive through this
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Corporate Strategy The overview of Starbucks’ Corporate Strategies are maximizing the market penetration‚ providing a relaxing and attractive social atmosphere‚ offers high quality products‚ create a great working environment and achieve profitability. Corporate Strategies of Starbucks are mentioned below:- First is the Rapid Store expansion strategy (Starbucks Everywhere” approach). These basically are related on Domestic and International store expansion where everything about the company
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CHAPTER 1 – INTRODUCTION 1.1 - Introduction of Starbucks Starbucks‚ as we see today was not there from the very beginning. Starbucks has the very humble start when three coffee fanatics‚ Gerald Baldwin‚ Gordon bowker ‚ and Ziev siegl‚ - opened a small coffee shop in Seattle’s pike place market. Starbucks Corporation is an American global coffee company and coffeehouse chain based in Seattle‚ Washington. Starbucks is the largest coffeehouse company in the world‚ with 20‚366 stores in 61 countries
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Starbucks global strategy De Wit and Meyer (1998) refer to market tendency towards homogeneous variety and tighter international linkages as globalization. The need for global strategy is outlined by the fact that companies are subject to global forces and consumer demands. As a consequence‚ firms are faced with a challenge of modifying their existent strategies to gain and sustain their competitive advantage in a rapidly changing environment. A well-designed global strategy can help
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Evaluate 7.1 Short Paper: Channel Strategy—Starbucks Corporation Kathleen Litman INT 640—Multinational Marketing Strategies Professor Michelle McKeogh February 26‚ 2012 Overview—Starbucks Corporation According to Starbucks’ 2011 Annual Report‚ the company is the premier roaster‚ marketer and retailer of specialty coffee in the world‚ with over 17‚000 stores in more than 55 countries‚ as of fiscal year 2011. 2011 was an important year for the company in that it celebrated its 40th anniversary
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1. What is Starbucks’ retail strategy? What is its target market and how does it try to develop an advantage over its competition? Starbucks retail strategy is selling the “Starbucks Experience” by offering a community gathering place‚ with comfortable seating in a relaxing atmosphere while selling quality products and great customer service. The company’s retail strategy is also aimed to maintain customer loyalty and repeat business. Its target market started out to be business people between
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1) CHINA: If there is one company that should have failed in China‚ it would be Starbucks. China has thousands of years of history drinking tea and a strong culture associated with it. No one could have guessed that Chinese would ever drink coffee instead of tea. Yet‚ Starbucks has successfully opened more than 570 stores in 48 cities since it first entered China twelve years ago. Building on this momentum‚ it plans to open 1‚500 stores by 2015. What did the Seattle-based coffee company do right
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Module 2: understanding the external environment 2.1 What type of org is Starbucks? ..................................................................................................................................3 2.2 Identify the industry‚ product segments and value chain ...........................................................................................3 2.3What is the current life cycle position of the industry (and demonstrate why?).........................................
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