Let us now get to know how Starbucks made a mark for itself in the Indian market. As a result, consumers became more concerned with purchasing necessities rather than luxuries. document.getElementById("ak_js_1").setAttribute("value",(new Date()).getTime()); Lead Trainer & Head of Learning & Development at IIDE, Leads the Learning & Development segment at IIDE. Experienced Financial Accountant with a demonstrated history of working in the Financial Services and Manufacturing Industries. They then sent these customers voice notes of baristas hollering the customers names along with their favourite beverage to remind them of the famous in-store experience. With the company based in Seattle consumption of the products is expected as a sign of loyalty. (Thompson, 2004). Starbuck happens to be one of them. As an international company the devaluation should have been treated as a threat to the company operations. Starbucks Corporations operations management (OM) represents business decisions encompassing coffeehouse operations and corporate office activities. Strategic effectiveness in this decision area of operations management comes with a suitable market strategy to ensure the profitability of these cafs. Over the years, Starbucks has continued to provide a wide range of beverage products such as coffee, tea, and juices. shops, deliver quality products, and to expand overseas. Consequently, the firm has increasingly become exposed to losing the unique quality on which its products are based upon. This is IvyPanda's free database of academic paper samples. These factors vary across firms and industries. In 2007, it announced its entry in India but withdrew without any explanation. "Strategic Analysis of Starbucks Corporation: Management & Process Strategy." 8. Customer Satisfaction is Worthless Customer Loyalty is Priceless. increase customer happiness, which would likely increase revenue. Consequently, the consumers spending has declined significantly. bm 490 starbucks case study the objective of starbucks is to create inspired italian coffee shops, deliver quality products, and to expand overseas. The firm has attained this objective by adopting unconventional marketing strategies. Hoffman K et al (2004). 15 no. The industry is characterised by low supplier bargaining power because of the numerous coffee beans exported into the UK from other countries such as Brazil and Indonesia. Increased competition worsened by product imitation. In the course of its operation, Starbucks has managed to attain a number of strengths. The zones aim at stimulating economic growth in some areas in the UK. Most companies enter a new market by focusing on a single segment, and if they happen to achieve some success, branch out into more segments. Boston: Pearson. Quality Management ensures that business outputs satisfy Starbuckss quality standards and the quality expectations of customers. The analysis should also incorporate microenvironment analysis, which entails evaluating the industry in which a firm operates. ALL'S NOT WELL ALL S NOT WELL WITH STARBUCKS 2003 US . The 10 strategic decisions of operations management facilitate the alignment of all business areas in Starbucks Coffee Companys organization. CURRENT SITUATION Current Performance Profitable financials The best specialty coffee retailer in the world Starbucks serves more than 40million customers per week with 85% derived from retail itself There is a constant The firm has achieved this goal by dealing with specialty products. Current Ratio 109% and countries have different expectations from a third place. At coffeehouses, the company has teams of baristas. Goods and Services require decisions on the characteristics of business processes, to meet the target features and quality of Starbuckss products. The firm has continuously continued to improve and maintain its brand without engaging itself in extensive marketing. fraction of the Starbucks experience and brand. in related field of study with sufficient breadth or depth of specialist knowledge in the related field. STRATEGIC MANAGEMENT CASE ANALYSIS STARBUCKS COFFEE COMPANY: THE INDIAN DILEMMA SUBMITTED BY: AMAN AHMED ANSARI BS 393410 I. Strategic Analysis of Starbucks Corporation: Management & Process Strategy. For example, processes at the companys restaurants are flexible to adjust personnel to spikes in demand during peak hours. In the 2010s, Starbucks was keen on entering the Indian market. The stream of content can be broken down into a series of campaigns geared at creating a greater sense of brand awareness and community. Upon its inception, the firms operation entailed roasting and retailing ground and whole coffee beans, spices, and tea. Not meeting the needs of prospective customers in case of expansion into new markets. revenues of the existing locations, but will pay off in the long-term. The UK is a member of a number of economic integration and trading blocs such as the G20 and the Euro Zone. Research is necessary at this point to determine the results of consumer fears in spending that may be connected to the economic slump and thereby increase consumer confidence in consumption of foodstuff as coffee products happens to be one of them, in doing so the company will have probably foregone sales for profit or the other war round. Considering the intense competition in the specialty coffee market, Starbucks has developed a strong competence with regard to product innovation. Market environment analysis should take into account the macro-environment such as the economic, political, legal, social-cultural, and technological environments (Gilligan & Hird 2008, p. 36). The model evaluates the characteristics of a particular industry by evaluating the potential entrants, the buyers and suppliers bargaining power, existence of substitute products, and degree of industry rivalry. Through the Porters five forces, it is evident that the UK specialty and eateries industry is very attractive. STARBUCKS PROJECT By Nanette Walthour, Thao Nguyen, Mengjia Yuan, Abigail McCrimmon, Brianna Courchene Leadership and Strategic Management HFT4295 Wednesday 1:30-2:45 Mehmet Altin, PhD April 15 . 3. Sunar, N., & Swaminathan, J. M. (2022). (William and Ferrell, 2006). stated that 30% of workers value the freedom to dress how they want more than any socialize. Enriching Lives. parts of Asia. partners has been changed due to the annual State of the Hourly Worker report, which 57-62. This Money: Moodys could downgrade UKs AAA credit rating in early 2013 if the economy fails to shape up. The problems should be looked at as internal and external. We utilize security vendors that protect and many problems to work through in existing locations, a lot of money can be lost during The company needs to establish whether there exists a negative perception that is circulating about the company either as a rumor or a competitor carrying out dirty campaign tricks. alternative would be that the differentiation based on geographical location would As a proven performer, price leadership will lock out competitors as the new entrants in the market do not have the capital to withstand long periods of break even or loss making sessions in their business in a bid to compete in pricing with Starbuck. The firm does not engage in aggressive marketing strategies such as advertising, but instead it focuses on branding and high-level marketing using alliances, partnerships, and word of mouth (Larson 2009). The first phase was where they asked their customers to share their ways of reconnecting amidst the pandemic and share their favourite Starbucks memory on their personal Instagram handles with the hashtag #ReconnectWithStarbucks. At the moment the US economy is said to be in a recession by some while others such as the World Bank are saying that the economy is at a standstill. When the worlds biggest bistro chain wanted to enter the Indian market, they entered into a 50-50 joint venture with Asias largest coffee grower, Tata Consumer Products Limited. Therefore, a happy partner, whether it Walsh, J. Possible failure points that the company should evaluate are: Customers may perceive lack of commitment from your business or company to the market or product or other sensitive issues such as social responsibility especially in this age of companies going green. 9. and sometimes even wine. ensure the integrity of our platform while keeping your private information safe. The UK has experienced a wave of technological advancements over the past decades, and to benefit from these changes, it is important for Starbucks to implement the necessary technological changes. This may include culture and religious attributes. Starbucks Mission: To inspire and nurture the human spirit--one person, one cup, and one neighborhood at a time. Theyve even created social accounts for customers favourites -Pumpkin Spiced Latte and Frappuccino- where they push relevant and relatable memes to their die-hard audience. McManus, J., Winroth, M., & Angelis, J. Total stores: 20,519 (as of March 30 . (Thompson, 2004). 4). The UK government has not incorporated any exchange control that would affect remittance of royalties, patent fees, and dividends (Deloitte, 2011). Some of the question that can be probably addressed in this area could be; are the outlets conveniently located, are opening and closing hours corresponding with the consumers lifestyles. Gilligan, C. & Hird, M. 2008, International marketing: strategy and management, Taylor and Francis, New York. true Tata-Starbucks was an exciting high stakes joint venture between Starbucks and __________? When there are still so Environmental Leader: Ford, Starbucks, among most ethical companies. 2. Starbucks is committed at increasing the number of its store locations in the UK. Most consumers adjusted their spending habits by being very cautious in their discretionary spending. The study focuses on the strategic analysis process involves determining the strengths, weakness, opportunities, and threats Download full paper File format: .doc, available for editing https://ivypanda.com/essays/strategic-management-analysis-starbucks-coffee-company/, IvyPanda. The recent Flipkart Starbucks twitter battle was an example of how active and fun a brand like Starbucks is and shows exactly why the brand is sought after with its target audience, especially the millennials. Strategic Management - Starbucks Case. Starbuck being the producer and retailer of its own products has a far better understanding of its market than other companies acting as retailers alone without the least idea of how to market the product by way of introducing consumers to the manufacturing process for increased consumer bonding, trust and sense of belonging. Retrieved from https://ivypanda.com/essays/strategic-management-analysis-starbucks-coffee-company/. Firms face numerous factors emanating from the external business environment, which makes it paramount for firms management teams to develop a comprehensive understanding of the environment in which they operate (Kotter & Schlesinger 2008, p. 136). The firm also prefers to buy from farmers certified under the Coffee and Farmer Equity program. Starbucks used this shift to partner with Flipkart, to launch Starbucks Signature Merchandise on the online platform. This area of operations management also integrates Starbuckss organizational culture or corporate culture. In response to their uncertainty, consumers have reduced their spending on both big and small items such as cars and a cup of coffee. Web. which includes its atmospheric qualities, the quality of the coffee and food, and its level Thus, Starbuckss organizational structure or corporate structure reflects this location strategy. For example, the coffee chain is offering mobile order services and leveraging Wi-Fi sign-ins at its brick-and-mortar stores. This assessment on Strategic Analysis of Starbucks Corporation: Management & Process Strategy was written and submitted by your fellow It covers strategic changes made by the organization in last 5-10 years to meet the globalization challenges and to sustain its business in a highly competitive world from following perspectives: 1) Situation Analysis of the Industry in which Starbucks operates for last 5 to 10 years. Molnrov, Z., & Reiter, M. (2022). The diverse range of content includes recipes, photography, articles and features. If you liked our analysis of Starbucks marketing strategy, be sure to check out the series of case studies on various other companies strategies written by our students. in the working class and age group, giving them a place outside of home and work to As a multinational company, Starbucks sources its raw materials from different countries through importing. The 2012 sovereign debt crisis being experienced in the Euro Zone is also adversely affecting business operations in the UK. This has already been identified as one of the problems leading to a decrease in sales. The firm has incorporated the concept of product diversification in an effort to meet the customers tastes and preferences. other on-the-job perk. A good way of doing so would according to me be by creating a forum through which consumers could narrate their first Starbuck experience. With a popular line-up of hosts like Sapan Verma, Azeem Banatwalla and Rahul Subramanian, customers will now be enthusiastic to shop more at Starbucks and stand a chance to win the invitation. Instant access to millions of ebooks, audiobooks, magazines, podcasts and more. Tutorial question 1. Jeanne Lewis Team Leadership at Staples, Inc. Procter & Gamble Companys Marketing Problems, British Petroleum Companys Business Planning, We use cookies to give you the best experience possible. Honours in Business Management jobs now available in Kyalami, Gauteng. It is estimated that approximately 511 million cups are consumed in the UK every week. This aspect increases the probability of Starbucks marketing its products to a large number of countries in Europe. Starbucks view its employees as a competitive advantage which required strategic management in order to maintain the most valuable human resources in the business. Effective operations management fortifies the strong brand image and other business strengths discussed in the SWOT analysis of Starbucks Coffee Company. These decisions also influence the productivity and operational efficiency of franchisees and licensees. For the broad and deep understanding of the modern management concepts, this paper uses the case study of Starbucks' organization culture, key leadership and the management traits used to execute the business strategy. Strategic Management PMS 3393 1 f 1.1 BACKGROUND OF THE COMPANY 1.1.1 Era before Howard Schultz In 1971, three academics, English Teacher Jerry Baldwin, History Teacher Zel Siegel and writer Gordon Bowker opened Starbucks Coffee, Tea and Spice in Touristy Pikes Place Market in Seattle. 2. Starbucks did the same and now caters to teenagers and young adults as well, by developing its product range and social media marketing presence. We will write a custom Assessment on Strategic Analysis of Starbucks Corporation: Management & Process Strategy specifically for you for only $11.00 $9.35/page. Marketing principles and best practices 3rd Ed. An example of such a tool is the strategic factor analysis summary matrix. In line with its differentiation strategy, Starbuck has adopted a unique marketing strategy. Another alternative to this problem would be to slow down growth and expansion, 1, issue 3, pp. Ziglar, Zig. These tariffs may adversely affect the firms competitiveness in the UK market. Strategic management and business policy: Toward global sustainability (pp. https://business-essay.com/starbucks-strategic-management-case-study/. Starbucks coffee houses serve-. People with a fast-moving lifestyle want good quality coffee and some space to relax after a hectic day. Grundy, T. 2006, Rethinking and re-inventing Michael Porters five forces model, Strategic Change, vol. (peoplematter) In addition, dress code for This is most important in earning the company loyalty from the consumers. Retrieved from https://business-essay.com/starbucks-strategic-management-case-study/, BusinessEssay. In the process of offering its products and services to customers, Starbucks greatly emphasises on good business practices and ethics. This however does not end there as it is meant to be a continuous process as the market composition keeps on changing so do lifestyles and needs. engage them in a more modern way. (Thompson, 2004). Starbucks has established a number of outlets, which are conveniently located for consumers to access. Disruptive technologies and operations management in the Industry 4.0 era and beyond. IIDE makes its students capable to analyse and curate such campaigns and studies. Starbucks Diversity Case Study . Its ability to develop these capabilities arises from the fact that it has developed a sufficient financial and human resource base. Theodore, S. 2002, Expanding the coffee experience; Starbucks keeps sales brewing with new products, innovation and global expansion, Beverage Industry, vol. Tata Starbucks Pvt. Starbucks has been committed to attaining a high level of competitive advantage, and to attain this goal, the firm has nurtured a number of capabilities that aim at improving the level of customer satisfaction. Min Carter, Ph.D. Human Resources andJob Design have the objective of maintaining stable human resources to support Starbuckss operational needs. This case study "Strategic Management at Starbucks" incorporates studying some of the strategic aspects of Starbucks in order to understand the reasons behind its tremendous success. Gitomer, Jeffrey, (2004). 1) Improve Starbuck's retail presence in US--restore operational rigor 2) Reignite emotional attachment w/ SB brand--product innovations + improvements 3) Long term changes to foundation of business--cut costs while retaining ethics What were the 7 Big Goals proposed by Howard Schultz? It is common knowledge to business managers that one of the most effective ways of impacting in a new market is introducing their new price lower than the existing ones which do not necessarily reflect the production cost as they might be lower. As a result the company will reduce competition and maintain a near monopolistic market in the roasting and retailing of coffee and its affiliate products. One question to guide the research in this is, do consumers consume coffee due to addiction or as a normal beverage? Lets dive deeper and analyse their overall digital presence. However, the process is not exhausted as there remains a more interconnected supply chain that the company can utilize in distributing their products to a more grassroots level in the market. Why is India an attractive market for Starbucks? In its operation, Starbucks has incorporated a number of critical success factors, which include attaining global dominance, offering a high level of customer service, and brand development. In the long run this will lower production cost for the company and thereby reduce retail prices for their products. As such, big players in the industry are getting caught by surprise with the prospects of losing their place in the industry. The companys many social media accounts are known for their distinctive branding, interactive posts, and visually pleasing content. Consequently, most local and foreign investors perceive the UK as an attractive investment destination. If you would like to download these slides, send me via: nguyenpuyen91@gmail.com with your purpose of download. In addition, distribution channels affect food, beverage, and service design decisions in this area of operations management. Need a custom Assessment sample written from scratch by The business objectives in these decision areas implement strategies for industry leadership, such as Coffee and Farmer Equity (C.A.F.E.) going to cost Starbucks the potential revenues of the new locations, along with the costs Here are some of the strengths that we could link to Starbuck. This critical decision area of operations management also accounts for customer experience in the companys cafs and online operations. An advantage would be the By ensuring an effective legal environment, Starbucks has managed to operate effectively in the UK. The occurrence of the recent global economic recession coupled with the sovereign debt crisis has increased the degree of price sensitivity amongst consumers (Miller 2009). The prevailing social trends in the UK present an opportunity for Starbucks to market its products. | Learn more about Alexa Duarte's work experience, education, connections & more by visiting their profile on . For example, the specifications of Starbuckss roasted coffee beans establish the cost and quality limits and requirements in corresponding production operations. Gross Ratios 59% Starbucks Case Study: Strategic Management. Who stole my customer: winning strategies for winning customer loyalty, New York, MIT Press. In a bid to develop a better understanding of Starbucks, the paper entails a detailed analysis of Starbucks internal and external environment. On the other hand higher prices may result in a fall in sales volume but fetch higher profits. Another externality afflicting the company is the loss of market share to competition. The company has been successful at developing a high reputation and brand image. Market dominance- Starbuck still commands the market and as such should use its position to establish a more involving relationship between the company and the market that should be aimed at locking out the competitors. These capabilities have made Starbucks a favourite amongst many customers. Starbucks Case Study Analysis Resources Strategic business locations near high-traffic areas an retail centers which easily attract customers. Outside of campaigns, they show numerous images on their platforms of friends and family enjoying drinks of Starbucks coffee together, interspersed with high-quality content that promotes seasonal products. Starbucks Marketing Strategy: Create A Remarkable Brand . To promote the same, Starbucks launched the #StarbucksDance challenge where it asked its customers to shoot a dance video with the drink and upload them on their personal stories. One of the ways through which the UK government has attained this goal is by recognising intellectual property rights such as patents, copyrights, and trademarks. California, Jossey Bass, pp. Cox, Billy (2008). IvyPanda. In an effort to position itself in the market, Starbucks has adopted a unique market strategy, which entails product differentiation and growth. The paper elaborately discusses the effectiveness of the Starbucks' management in the overall success of the company. One example is the #ExtraShotOfPride campaign that supports the LGBT+ community. Microsoft had operated as a near monopoly in this market but nowadays it has to fight for survival with rather late entrants such as Apple, IBM, and Sunsystems among others. An analysis of the market environment depicts the UK as an attractive market. Therefore, to align itself with these changes, it is critical for Starbucks management team to conduct a continuous analysis of the prevailing social environment. This service quality contributes to competitiveness against other food and beverage firms, such as Dunkin, McDonalds, Tim Hortons, Wendys, Burger King, Subway, KFC, and Arbys. Copyright 2023 - IvyPanda is operated by, Strategic Analysis of Starbucks Corporation: Management & Process Strategy. Starbucks Diwali Blend is intended as a tribute to the regions rich and cultural coffee heritage and expertise. reputation. As a result, it has managed to offer sufficient customer service. The UK government has also established 21 new enterprise zones. Starbuckss strategic objective is to maintain consistent quality of service for consistent customer experience in brick-and-mortar and e-commerce environments. 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