Ethical\/CSR Ombudsmen (Job E)<\/p>\n
Economic responsibility<\/p>\n
By 2014, Starbucks had 20,000 stores and was a presence in sixty-four countries around the globe. As its reach spreads, Starbucks is always conscious of the shifting trends in consumer tastes and is responsive to those changes. After employing social media as a tool to gather intel, Starbucks was able to engage further with its customers and gain valuable insight into what its customers want. For instance, after launching the La Boulange line in its caf\u00e9s, customers rallied for the return of some old favorites that had been phased out. Starbucks responded by bringing these items back thus retaining customer loyalty. In addition to the established items, Starbucks began to offer higher quality and healthier food options to boost its lackluster sales on food items. Starbucks partnered with Keurig to produce K-cup pods for its line of single-serve coffee machines. When it acquired the Seattle\u2019s Best Coffee brand, Starbucks partnered with fast-food retailers, such as Burger King, to use its coffees in its pots. This launch coincided with the release of McDonald\u2019s McCaf\u00e9 line of coffees. In addition to these changes, Starbucks upgraded most of its technology, via its point-of-sale systems, to shorten the amount of time that customers were spending in line. Another crowd-sourced idea that Starbucks brought to fruition was the addition of digital tipping via the app demonstrating that Starbucks, and its CEO, values its consumers.<\/p>\n
Legal Responsibility<\/p>\n
Starbucks\u2019 CEO, Howard Schultz knows that transparency is the expectation and has woven that into everything that Starbucks does. There is always a risk when a company takes on new ventures, but Mr. Schultz is not afraid to acknowledge when he is wrong and then try to correct it. In turn, the employees and suppliers of Starbucks are expected to act in the same manner. The spotlight is hot on large corporations like Starbucks, and this means doing what is right even when no one is looking. Starbucks partnered with Kraft Foods to distribute its coffee in stores. When that partnership was no longer beneficial for the stakeholders of the company, Mr. Schultz paid to dissolve it. To maintain its reputation as a quality brand, he knew this action was in the best interest of the company and those who are invested in it.<\/p>\n
Ethical responsibility<\/p>\n
Howard Schultz has never shied away from speaking his mind and when he resumed the CEO position after a short break, he made it clear where he stood. Loyalty to his management team and to the employees led Schultz to continue insuring full and par time despite the rising costs due to the Affordable Care Act. He also continued the free pound of coffee each week program and maintained its Bean Stock program, a program that allows all employees to purchase stock in the company. He is also an outspoken critic of politicians that prioritize partisan ideas over the welfare of the people that they represent. He has stated that all his decisions are made with his employee\u2019s best interests first and economic repercussions second.<\/p>\n
Philanthropic responsibility<\/p>\n
Starbucks has initiated many new philanthropic efforts in addition to its ethical and sustainability initiatives. Starbucks created a community store. These stores provide jobs in downtrodden neighborhoods and in turn fund the non-profit that has paired with the caf\u00e9. Starbucks also partnered with the Opportunity Finance Network to form Create Jobs for U.S.A. This partnership was formed to provide loans to small businesses. Finally, Starbucks committed to hiring 10,000 military veterans and their spouses by 2018. As of 2019, Starbucks had more than doubled that number (Dahlstrom, 2019).<\/p>\n
References<\/p>\n
Dahlstrom, L. (2019, July 19).\u00a0A life of service: Meet some of the 25,000 veterans and military spouses Starbucks has hired.\u00a0Starbucks Stories and News.\u00a0Meet some of veterans and military spouses Starbucks hired\u00a0(Links to an external site.).<\/p>\n
Hitt, M., Ireland, R., Hoskisson, R. (2017).\u00a0Strategic Management: Competitiveness and Globalization.\u00a0Boston, MA: Cengage Learning.<\/p>\n
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Your comment\uff1a<\/p>\n
Industry Analyst (Job F)<\/p>\n
Porters Five Forces Model is an intricate design that targets the five competitive forces that businesses typically encounter as well as delves into the strengths and weaknesses of a business within its particular industry. It is essential for large corporations such as Starbucks to use the Five Forces Model to stay relevant and keep up with change within its market due to the high volume of competitors. Additionally, the Five Forces model is a useful tool when determining what markets a company will begin to enter into and to examine how to stay competitive in saturated markets. Starbucks must consistently differentiate itself in their market as well as continue to engrain their brand into consumers\u2019 minds to help them stay overly competitive in the coffee industry.<\/p>\n
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There are many different factors that contribute to the success of Starbucks. Their product is known to be a little on the higher-priced coffee side, however, their quality and service make up for it. They offer a variety of different flavors, even working hard to add more to their seasonal menus as well such as their famous pumpkin spice lattes. Starbucks started out as a very small business that has expanded into a global corporation bringing coffee to people of all cultures and backgrounds (Starbucks). The product itself is, of course, extremely likable and diverse, however, the intangible attribute that makes Starbucks stand out the most is its brand. Although Starbuck\u2019s main focus resolves around coffee, their diversity in their product choices is another addition that makes them stand out. Adding alternative product options such as juice, water, food items, and more gave them the opportunity to reach an even larger consumer base as well as broaden the options for their target market.<\/p>\n
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Starbucks is also extremely good at altering their products as well as their company initiatives to fit the market that they are moving into. For instance, when Starbucks moved into Indonesia, they started a green project offering discounts to repeat customers who purchased a Starbucks tumbler and filled it up instead of using paper and plastic cups (Farida). The company\u2019s ability to recognize the need to encourage green products and services in order to gain repeat customers is essential to their global growth and has played a huge role in their successful expansion. Additionally, it makes them extremely competitive in their market because they are constantly adapting and creating new ways to attract customers and keep them returning to Starbucks.<\/p>\n
Another way Starbucks stays competitive and on top of its game in the heavily saturated coffee market is through technology. The company has developed several ways to make life a little easier and better for their consumers including a loyalty rewards app, easy online and pickup ordering for those that do not have time to wait, and helps go faster to ensure consumers get their items quicker. Technology itself plays a huge role in most businesses and Starbucks does a fantastic job at adapting to the new technology and using it in ways to benefit not only the company but its customers as well. Additionally, like many coffee and food shops, skilled labor is not difficult to come by as it is an easily taught job and positions can be filled with students or regular individuals easily.<\/p>\n
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When it comes to a global corporation with multiple different items, the distribution of products can become confusing and extensive. Starbucks must get coffee beans, food, and drink supplies shipped to all of their locations from distributors and the price of these goods is always subject to change (Starbucks Corporation). Due to the high demand for the products they purchase, the price of the goods can change at any given moment which can directly impact Starbucks profits and the price they set their goods at for consumers.<\/p>\n
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Works Cited<\/p>\n
\u201cAbout Us: Starbucks Coffee Company.\u201d\u00a0About Us: Starbucks Coffee Company, www.starbucks.com\/about-us\/.<\/p>\n
Farida, Naili, and Elia Ardyan. \u201cRepeat Purchase Intention of Starbucks Consumers in<\/p>\n
Indonesia: A Green Brand Approach.\u201d\u00a0Trziste \/ Market, vol. 27, no. 2, July 2015, pp. 189\u2013202.\u00a0EBSCOhost, search-ebscohost-com.libproxy.troy.edu\/login.aspx?direct=true&db=bth&AN=112855114&site=ehost-live.<\/p>\n
\u201cStarbucks Corporation SWOT Analysis.\u201d\u00a0Starbucks Corporation SWOT Analysis, July 2021,<\/p>\n
1\u20137.\u00a0EBSCOhost, search-ebscohost-com.libproxy.troy.edu\/login.aspx?direct=true&db=bth&AN=152307537&site=ehost-live.<\/p>\n
Your comment\uff1a<\/p>\n
Company Analyst (Job B)\u2014Identifies the strategic groups within the industry market.<\/p>\n
Who are the major competitors and what is the company\u2019s position relative to those competitors?<\/p>\n
Starbucks primary competitors for coffee beverage sales are quick-service restaurants and specialty coffee shops. Starbucks main competitor in the coffee shop market is Dunkin Donuts. Starbucks has a larger footprint, with over 30,000 locations worldwide, compared to Dunkin’ Brands’ 13,000 locations. Starbucks is second with 12.4% of the ground coffee market compared to Folgers 25.1% in the ground coffee market.<\/p>\n
What is important for customers in this market?<\/p>\n
Coffee shops depend greatly on customer traffic and are most often located in areas with convenient access for pedestrians or drivers. Customers are Interested in continuous product innovation or seasonal specialties. Most customers appreciate the nice atmosphere in the coffee shops<\/p>\n
What appeals might be used to attract consumers within the market?<\/p>\n
Starbucks can continue to expand into untapped markets. Promoting and launching a new seasonal drink each year.\u00a0Starbucks can continue partnering with brands like Pepsi, Barnes and Noble, Nordstrom, Kraft and United Airlines.<\/p>\n
What strategies are currently being used?<\/p>\n
Starbucks operates in 60 countries and largest coffee\/snack retailer. Starbucks has a convenience factor since it has so many locations. Starbucks offers loyalty-based programs like Starbucks Rewards and Starbucks Card drive loyalty. Starbucks stores have free Wi-Fi, music, coffee shop atmosphere and provide an environment of community meeting spot.<\/p>\n
What customer relationship strategies would you recommend?<\/p>\n
Continue the loyalty-based programs for retuning customers. Promote the stores as community friendly, focused on recycling and reducing waste. Invest more in marketing.<\/p>\n
(FH), D.-K. (n.d.).\u00a0Coffee shop industry – a strategic analysis. GRIN. Retrieved November 21, 2021, from https:\/\/www.grin.com\/document\/111348.<\/p>\n
Geereddy, N. (n.d.).\u00a0Starbucks case analysis – home | scholars at Harvard. Retrieved November 21, 2021, from https:\/\/scholar.harvard.edu\/files\/nithingeereddy\/files\/starbucks_case_analysis.pdf.<\/p>\n
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