Strategic Analysis Project: Current Position Business Research Paper

Strategic Analysis Project: Current Position
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Strategic Analysis Project: Current Position
Starbucks' mission statement is "To inspire and nurture the human spirit – one person, one cup and one neighborhood at a time" (Starbucks, n.d.). Accordingly, this mission statement serves to influence strategic management at the company towards realizing sustained growth (Gregory, 2019). It follows that Starbucks "nurtures and inspires the human spirit" by maintaining a small company culture that is characterized by rapport and warmth among employees and with the management. This culture extends to customers who then feel valued and have a great experience. For instance, interactions at Starbucks cafés involve the use of employees' and customers' first names. Moreover, the design of the coffee houses is such that it offers comfort and coziness to visitors. As for the mission statement component of "one person, one cup and one neighborhood at a time," Starbucks ensures that every worker or customer experiences a meaningful impact from the company. Correspondingly, the component also means that the firm seeks to grow gradually, from one location to another.
At Starbucks, the main activities include making purchases and roasting of high-quality coffee beans, which are then prepared and served through comprehensive range products, including hot and cold drinks, alongside snacks like crackers and chips. The company's market comprises urban dwellers, aged between 22 to 60 years who enjoy coffee in a relaxing atmosphere (Dudolvskiy, 2017). Typically, the customers include students, employed persons, and professionals who find a place to relax after work, catch up with friends and relatives or work while enjoying Starbucks beverages and snacks. The firm does business through its more than 30,000 coffee shops located in the United States, Canada, Latin America, Europe, Africa, Middle East, China, and the Asia Pacific. Over the years, the company has performed well and enjoys a great financial position. Based on Quarter 2 report, of the physical year 2020, the company has recorded net revenues amounting to $6B, amidst the adverse effects of the COVID-19 pandemic (Starbucks, 2020a). The quarterly cash dividends rose over the years, from $0.05 in the first quarter of 2010 to $0.41 in the second quarter of 2020 (Starbucks, 2020b).
The main stakeholders at Starbucks include the workers, customers, suppliers, investors, as well as governments. As posited by Thompson (2017), the company shows corporate social responsibility (CSR) to each of these groups as follows: 1) Employees are offered ...