This research is being submitted on June 08, 2012, for Ruby Crump’s B460/BU402/MAN4720 Strategic Management course at Rasmussen College by Beth Rivetti.
Starbucks has positioned themselves well in their industry. They have proven themselves to be a leader, an innovator, and a strong competitor constantly seeking ways to maintain their competitive edge. However, they are not without their areas in need of improvement and revision. This need has brought forth on of the key components of the strategic plan detailed below, that being constant evaluation of the processes in place to meet the objectives of the strategic plan, and adaptation of the plan to the needs of the environment in which they are operating. While present quantitative analyses have shown that they appear to be meeting many of their objectives with great success, I firmly believe they could improve their image by implementing the strategic objectives detailed below. Furthermore, that many of these could be implemented at a cost that when compared to their reported earnings would be minimal. By capitalizing on their many resources already in place they could likely foster new interest in their product while maintaining the customer base whose loyalty they have already garnered.
Starbucks has a commitment to not only their customers, but their employees, deeming both to have value that translates into a stellar image and continued customer loyalty. Yet, these successes do not eliminate the need to address potential threats and address some clear weaknesses that this company is faces. They must continually work to develop new products and modify existing ones that will keep the present customer loyal and gain the attention of new customers. This particularly industry can be a highly competitive one and Starbucks needs to stay one step ahead to maintain their competitive edge. They
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