Sample Management Coursework Essay Paper on Starbucks Company Strategy

Starbucks Company Strategy

            Starbucks’ growth and expansion continues to accelerate under the leadership of Howard Schultz. For a long time, the company has managed to hold on to its position as the largest coffeehouse in the world. In 2014, the company’s management launched a five-year strategic plan aimed at building a great and enduring organization. With the constant shift in the unpredictable consumer behavior, the plan is to provide direction onto how the company is to take advantage of new opportunities presented to businesses by emerging markets all over the world. Starbucks five-year plan was not only formulated to drive performance but to also stress on the importance of partners and communities who over the years have played a critical role in enhancing growth and expansion. The five year strategy as presented by the company’s management include; tea and coffee leadership, diversification, extension of digital engagement, global expansion and commitment to its partners and humanity at large.

            With the recent acquisition of Teavana, the company’s strategy on tea and coffee leadership will be realized through its expansion in the US and in international markets. The company’s diversification plan aims at offering new products such as food, through new Starbucks evening experiences that will drive sales. Through its digital engagement strategy, the company is hopeful to increase its customer base through mobile pay and delivery services that will improve convenience to its customers. In spite of the many stores owned by the company, Starbucks plans to expand through opening more stores in China and Japan due to the potential growth opportunity in both countries. Lastly, as the company plans to accelerate growth in the next five years, it believes that a balance has to be created between performance and its devotion to humanity and its partners such as employees and the community. This will be achieved through several initiatives aimed at demonstrating its commitment to its employees and the community.