Answer to Question #8167 in Finance for LaMarcus Streeter

Question

Discuss the elements of Starbuck’s business strategy and how execution of the strategy lead to company growth and provided the organization a competitive advantage in the marketplace.

Answer 1

The key elements of Starbuck's strategy were as follows:
a. Grow the business by constantly adding more stores around the world.
b. Store design, planning and construction are also part of the strategy.
c. Product Line.
d. Employee selection and training.
e. Increasing sales by new means of selling.
f. Joint ventures and Licensing
The company is one of the best companies to work with in the retail food industry because their benefits
surpass those of many others. Appraisal of strategic choices against background
of mission statement While Starbucks had recorded enormous growth in sales due
to this fast expansion. Starbucks' growth strategy thus far has tended to emphasize positioning its stores in high
traffic areas, including mini-stores located in hotels, upscale grocery stores,
shopping mall food courts, and other ventures which are not
free-standing.