Based on the reading of, " Rothaermel, F. T. (2021). Strategic management. McGraw-Hill Education" Chapter 8. Corporate Strategy: Vertical Integration and Diversification and Chapter 9. Corporate Strategy: Strategic Alliances, Mergers, and Acquisitions.

Provide a graduate-level response to each of the following question:

1. Franchising is widely used in the casual dining and fast food industry, yet Starbucks is quite successful with a large number of company-owned stores. In 2019 Starbucks had more than 8,500 company-owned stores in the United States. How do you explain this difference? Is Starbucks bucking the trend of other food-service stores, or is something else going on?