I need to complete an environmental scan and economic analysis on Starbucks, including remote, industry, and operating environments. Please include any changes you think will affect Starbucks in the next 5-10 years. Include the following:
– Use a macroeconomic forecast of any economic indicators affecting Starbucks in the future which should be incorporated into the strategic planning.
– What are the non-economic factors in the remote environment and analyze them:
(1) Social and Cultural
– From a microeconomic perspective based on the pricing of Starbucks’ primary product/service line, and assessment of its cost structure and the market it competes in, complete a competitive analysis of Starbucks.
– Summarize Starbucks’ current situation, including business overview and mission, competitive position, and forces and trends in the industry. Identify 3-6 issues and opportunities that Starbucks should address in their strategic planning.
– What are some strengths and weaknesses in Starbucks’ operating environment that can be leveraged to capitalize on emerging opportunities or minimize the threats you identified earlier.
– Develop 3-4 strategic long-term objectives that can be measured to determine the strategic plan’s success.
Starbucks is the leading specialty restaurant chain in world. Starbucks is selling coffee and other beverages. But according to Schultz, “We’re not just selling a cup of coffee, we are providing an experience.” In order to create American coffee enthusiasts with the dedication of their Italian counterparts, Starbucks provides a seductive atmosphere in which to imbibe. Its stores are distinctive and sleek, yet comfortable. Though the sizes of the stores and their formats vary, most are modeled after the Italian coffee bars where regulars sit and drink espresso with their friends. (Starbucks competing in global markets)
Environmental Analysis of Starbucks
Environmental analysis is an essential element of formulating strategy. Srategy is about:
“* Where is the business trying to get to in the long-term (direction)
* Which markets should a business compete in and what kind of activities are involved in such markets? (markets; scope)
* How can the business perform better than the competition in those markets? (advantage)?
* What resources (skills, assets, finance, relationships, technical competence, facilities) are required in order to be able to compete? (resources)?
* What external, environmental factors affect the businesses’ ability to compete? (environment)?
* What are the values and expectations of those who have power in and around the business? (stakeholders)”
As per quickmba, “Strategic planning clearly defines objectives and assesses both the internal and external situation to formulate strategy, implement the strategy, evaluate the progress, and make adjustments as necessary to stay on track.”
Environmental analysis tells about the opportunities and threats.
Macro Economic environment
As per wikipedia “The gross domestic product (GDP) is one of the measures of national income and input for a given country’s economy. GDP is defined as the total cost of all finished goods and services produced within the country in a stipulated period of time (usually a 365-day year). It is sometimes regarded as the sum of profits added at every level of production (the intermediate stages) of all final goods and services produced within a country in a stipulated timeframe, and it is rarely given a monetary value.
The world economy is affected now by recession and contraction in GDP. This has led to reduced consumer spending which has resulted in contraction of worldwide demand. This may lead to reduction in margins and revenues.
Another important factor is the Starbucks’ dependence on foreign markets. Hence in foreign markets it would be affected by:
– Economic or political conditions including inflation, recession, interest rate fluctuations and actual or anticipated military or political conflicts;
– Longer accounts receivable cycles and financial instability among customers;
– Trade regulations and procedures and actions affecting production, pricing and marketing of products;
– Differing technology standards or customer requirements
– Foreign exchange fluctuations
Political and Legal environment
World is greatly affected by terrorism in the recent times. This may have adverse affect on the business. Starbucks can be greatly affected by political instabilities of various economies in which it’s operating.
The industry has got rapid advancement in technologies which can adversely affect the company in terms of huge investments, product acceptance and heightened competition. The product life cycles are becoming shorter and there is an ongoing innovation in the products. This can lead to the threat of reduction in existing product prices and margins.
Strategy of the Starbucks is of product differentiation as it is providing and adding new products / product features to its customer to create a unique image in the minds of consumer. Starbucks started with a single product whole bean coffee in one Seattle store and now it caters numerous variety of beverages and merchandise to its consumers through its 16000 plus stores worldwide.
As per wikipedia, “Starbucks sells drip brewed …To continue with the answer check on mycoursewriter.com/
Why Choose Us
Quality Homework Writing
Do you need to ace your test? We have qualified writers to assist you in writing 100% quality homework writing. Mycoursewriter offers students unique and personalized custom papers that help them in getting good grades. Our academic experts will assist you with your dissertation papers, thesis writing, research papers, term papers, and case study homework help. Our writers are experienced and have perfected the art of crafting the best essay writing papers regardless of your academic level. Order now and get our superb homework writing services.
Expert Academic Writers
A student needs professional assistance outside class time. Before hiring our writers, they undergo thorough tests and strict educational backgrounds. After passing a test, our writers undergo training to ensure they deliver expert professional papers to our customers. We ensure they meet the timely delivery of papers and follow our customers' provided instructions. Every writer is an ENL writer and is from the USA, Canada, UK, or Australia. Our experts approach papers effectively depending on their area of specialization.
Affordable Price Guarantees
Is the deal too good to be true? Mycoursewriter is the most affordable assignment help website on the market. We consider students' daily needs for academic help. Our paper costs are reasonably priced to approximately 90% of students around the globe. Our main aim is to ensure students achieve academic excellence, and we believe inconsiderable prices should not hinder students from getting quality homework writing help. In case of any dissatisfaction, we offer unlimited revisions and rewrites without extra charges.
Timely delivery of papers
Tight deadline? Is your paper due in the next few hours? Worry no more. Our writers are here for your rescue. Many college students find it hard to balance their social and academic life and get caught up with academic deadlines. Drafting your paper at the last minute does not allow you to conduct extensive research and craft the correct answers. We have expert writers ready to work on your assignment writing. Urgent writing services are the ultimate solutions you need. We guarantee you timely delivery of papers at your convenience and specified time delivery of the customer.
100% Original Tasks
The ultimate deal-breaker in achieving good grades is submitting imitative papers. Plagiarism is a breach of examination standards and has serious consequences. Students need to deliver papers written in their understanding by paraphrasing their research findings and relevant citations. Our expert's primary consideration is providing free plagiarized papers that meet the lecturers' requirements. Our editors will proofread your paper before delivery ad ensure your papers will not be substandard. We guarantee extreme originality, and in case of any customer concerns, we offer a plagiarism report.
All Round the clock Customer Support
Our website is user-friendly and super useful! Mycoursewriter is the most trusted online writing website always available to provide you with assignment writing services that you need. Our primary concern is meeting customer need specifications by our friendly customer support team that Is available all the time. Our website usability is self-learnable but in case of any problem, feel free to contact us directly through our website email: email@example.com. We have diligently satisfied thousands of students, and you can witness this on our sites' review page.
Try it now!
How it works?
Follow these simple steps to get your paper done
Place your order
Fill in the order form and provide all details of your assignment.
Proceed with the payment
Choose the payment system that suits you most.
Receive the final file
Once your paper is ready, we will email it to you.
Advantages of Using Our Assignment writing Services
Mycoursewriter welcomes you for superb essay writing services. We are a legit site offering help with your most challenging homework writing assignments at affordable prices. Your essay paper will be assigned to a professional writer who will craft the paper from scratch according to your provided instructions.
Essay writing is a common assignment writing for most college students. It takes a lot of time to craft a complete perfect essay. Mycourserwiter offers the best essay writing and proofreading services for most college students. Your paper is assigned to an expert writer who does thorough research on fresh ideas and personalizes your essay paper according to your assignment writing guidelines. Our essays are entirely exceptional and undergo a strict procedure that includes papers free from plagiarism and thorough proofreading.
Admission and Business Papers
Writing an admission paper is not every student's desire, and this should not hinder any student from earning an admission. Writing a perfect personal statement to earn a position in a dream school or job can be stressful. Personal statements should display a high level of confidence and uniqueness. Admission essays require you to have a vast knowledge of the current happenings in the world and knowhow of the business world. We have qualified writers with skills who will write your admission paper through comprehensive research. All you have to do is provide us with little details about yourself, instructions and our writers will craft a perfect paper for you.
Editing and Proofreading
Mycoursewriter offers you assignment writing services free from grammatical and formatting mistakes. An error-free paper is significant in scoring the desired maximum grades. We have a team of editors who will go through your paper after our expert writers have delivered their fully crafted papers. Our writers will cover all the aspects of your paper instructions, such as fonts, spacing, and educational formats. Our team of editors will check through your paper to make sure it meets the formatting style provided in the paper instructions. Under no circumstances will a poorly formatted paper will be forwarded to you as our team of editors will ensure careful proofreading.
Assignment writing is part of a learning process, and one may not have the knowledge to answer all questions correctly. This should not be a stress to you as we have qualified essay writing experts to help you. Our qualified writers are holders of PhDs, Degrees, and Masters in different areas of study and can handle any papers regardless of the complexity. Multiple assignments may be challenging to finish on time. Our skilled professional writers are here to assist you in crafting all the correct answers for your assignment. Stop stressing about your homework writing and place an order with us, and our expert writers will provide you with the best assignment help.