Principles of Management-MGT 301
Dr. Anastasia Luca
September 15, 2010
In the business world, increasing sales can be a difficult task. However, it can be accomplished when a person or a team has the right motivation and a clear determination of meeting a future goal. For Howard Schultz this would be tripling annual sales to $23.3 billion. Although it is difficult to keep true to your roots in business, especially with a goal of tripling sales, I believe Howard Schultz can lead Starbucks to reach 23 Billion in three years. Wal-Mart became the biggest company in the world while staying true to their roots, always putting the customer first. To gain a competitive advantage, Starbucks management team must attain a strategic edge by planning marketing strategies, which will combine existing products and new products delivered in a seemingly new way, thus increasing sales. A collaboration of strategies can make a world of a difference in maximizing a corporation’s full potential in reaching out to all prospective consumers.
A marketing analysis of Starbucks’ current operations should be conducted in order to have a clear sense of the market share areas that exist and those that potentially may need some improvement. Focusing on weaknesses and converting those weaknesses to strengths will be key to Starbucks success, as well as improving their areas of strength. By offering a variety of products in the same category and by being a specialist versus a generalist and directing attention on the quality of its products rather than the quantity of goods, Starbucks will continue to create the great customer experiences that the company was founded upon. Being known as a company that deals greatly in quality will help the company gain popularity for its brand, its products and open up doors for future products, increasing sales and help push the company closer to its goal.
The management team will need to establish a more... [continues]
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