Write a new mission statement for Starbucks.

Starbucks: List alternative strategies, giving advantages and alternatives for each. (400 words)

Starbucks: Recommend specific strategies and long-term objectives. (400 words)

the attach files is SWOT analysis of Starbucks.

Strengths Weaknesses Brand Image 1 Reliance on beverage innovation Customer Loyalty 2 Problems in some international operation Higher quality of production and services 3 Expensive products Locations 4 Focus on U.S. operation Segment Starbucks Partners 5 It has negative large corporation image Opportunities 1 Expanding product mix 2 Technological advances 3 4 Expand in Chinese market Growth in coffee markets 5 Brand extension Threats 1 Competition 2 Slowing U.S. retail sales 3 Coffee is not health for body 4 American market are mature 5 Cost of coffee bean is expected to rise in the future. A new mission statement Alternative Strategies, Give Advantages The SWOT analysis was the first building block that leads to the proper analysis of Starbucks. From the SWOT matrix, as well as the rest of the matrixes several alternative strategies can be made. What the SWOT analysis shows right off the bat are a number of internal and external areas of the company. Many of the other matrixes are built off the SWOT analysis, thus it is important to begin here. The SWOT analysis shows a number of the factors, that Starbucks uses to gain a competitive edge. Competition in this industry is extremely high, especially among the top competitors in the industry shown through the Impact-Probability matrix (Figure 4a), thus weaknesses and threats must be limited and monitored very closely. Luckily there are a number of external factors in the industry that provide a promising direction of growth. Starbucks has generally focused on being a company that provides quality products in a caring community as shown in their business practices following the mission statement. The most important thing when considering alternative strategies is to combat the competition and increase customer loyalty, as these are the primary areas that will benefit Starbucks from an external and internal standpoint. The opportunities found throughout this study are market expansion, product diversification, expanding consumer trends, online market expansion, and research and development. These are particularly important areas that Starbucks should focus on, to develop ways to combat competition and increase customer loyalty. One simple alternative strategy when monitored closely that can be beneficial, is a related diversification. This is just one simple alternative strategy. There are many future strategies business strategies that should be well planned out, that will benefit Starbucks as a whole in the long term. B. Recommend Strategies and Long-term Objectives. Though Starbucks maintains a slight competitive edge among its direct competitors according to the competitive profile matrix (Figure 8), Starbucks is in no propitious niche and needs to improve their competitive advantage by following a number of recommended strategies that will benefit the company as a whole in the future, as these strategies are considered for the long term. The EFE matrix (Figure 6) is the first matrix to show the importance of focusing on the external opportunities while limiting the external threats. Throughout the following charts; SFAS, GE McKinsey, SPACE matrix, and the Grand Strategies matrix. Each of these matrixes suggests a growth strategy and the importance of continued investments for Starbucks. Therefore it is suggested that Starbucks consider continued market expansion, market penetration, product development, and diversification. Each of these strategic factors will benefit Starbucks as a whole. Outlined through the external opportunities of the industry show the direction of the industry and that there is still growing demand within the coffee industry. Each recommended strategy above encourage investing and following a continued and aggressive expansion. This analysis provides a number of strategies that each must be dissected and aggressively contemplated to find the best area within each strategy that will benefit Starbucks strategic business plan the most. Each of these strategies are beneficial to combat the external threats as well as to help eliminate the internal weaknesses of the company. These strategies are particularly important because they will help develop customer loyalty and increase Starbucks position among its competitors. These outcomes should be the primary aim for Starbucks future. To get there, another important recommendation is to focus on continuing to developing their customer loyalty program while focusing on expanding their product mix to be friendly to cutlers outside of Europe and the United states. Considering the long term, the Industry Life Cycle matrix (Figure 12) and the SFAS matrix (Figure 9) must be considered. These matrixes point to the fact that Starbucks is in the declining acceleration growth, which leads to the strategic importance factors to \"Grow and build.\" With this in mind, it is important that Starbucks select proper growth strategies out of the suggestions that align with the industry life cycle stage Starbucks is positioned in. Therefore, it is important that Starbucks be very focused and selective in their growth strategy. Starbucks must select the proper growth strategies in order to not over exceed their growth period. By following these recommendations, Starbucks will continue to expand and maintain as one of the top franchise coffee providers