Str 581 Business Plan Assessment

Rekashua Leonard STR 581: Strategic Planning & Implementation Michael Wells April 29, 2024 Starbuck’s Business Plan Assessment A strategic plan is meant to determine what direction an organization wants to go in. Planning allows them to map out what plans to focus their efforts on to ensure that everyone is working towards a common goal. Starbucks has clearly outlined their vision and the strategies required to achieve it. Being the “premier purveyor of the finest coffee in the world, while maintaining our uncompromising principles while we grow,” (Moran, 2020) this requires them to maintain quality as well as commit to sustainability and ethical practices. A well-structured strategic plan will enable the company to align its operational activities

This can be in the form of expanding geographically, rebranding, or expansion of their already existing target market. My suggestion to have them expand into other international territories other than China fits perfectly in this category. They have already shown promising success with their product development there, so if they take what they have learned from that expansion and use that knowledge to move elsewhere I am confident it will produce the same, if not better results. The most important thing they will need to remember is to make sure their market research is extremely thorough. This will allow them to be able to understand and identify customer needs and preferences in the country they choose to expand into, as well as assess the competition. Process Improvement: This is another key objective to focus on in a strategic plan. This is meant to improve and optimize existing business processes. Starbucks has already started working on improvements. According to the new CEO, he feels their “innovation could be more purposeful and targeted.” The plan is to focus on technology advancements, while working on improving fundamental operations and bettering their