...Starbucks: Strategic Plans for the Future Strategic planning is the roadmap for an organization which indicates who the company is, what they do, who the customers and competition is and where the company expects to be over time. Financial planning is where the company forecasts the company’s assets and liabilities over a period of time. Starbucks financial plan consists of long term and short term investments. As mentioned in the annual report these investments are in the form of debt securities and are classified as available for sale. The securities for maturity of less than one year are used to fund operations and are considered short term. All other securities are considered long term. Starbucks has recently put a strategic plan in place as mentioned in the annual report, “Two years ago, we embarked on a strategic plan, the Blueprint for Profitable Growth, in which we would leverage multiple channels of distribution. I am proud to affirm that it is no longer theory but a true growth engine. The measure of our success can be seen in the past year’s performance.” (SBUX 2012 Annual Report Final, 2013). Starbucks lists three actions that drives their decisions and actions; keeping their commitment to their core coffee business, relative, timely innovation and continuing to honor their values. In 2011, Starbucks purchased the outstanding shares of Evolution Fresh as a completion of a strategic initiative. As indicated with any acquisition there is associated risk such as...
Words: 552 - Pages: 3
...BMA351 MARKETING MANAGEMENT STUDY GUIDE – WEEK 2 STRATEGIC MARKETING PLANNING INTRODUCTION This week you will be introduced to the concepts of strategic planning and the strategic planning process. Important in this discussion is an understanding of the hierarchies that exist within firms and within the planning process. Last week’s consideration of the differences between strategic and tactical is useful too. You will also be introduced to idea of marketing control, which is an important element you will need to address in Assessment Item 2 – Strategies & Implementation. Resources Lecture slides (download or view PowerPoint file) Recorded MyMedia lecture – Week 2 Prescribed text: Chapter 2 MyLO: Readings/Strategic marketing planning Acknowledgement: Sections adapted from Ferrell, OC & Hartline, MD 2010, Marketing strategy, 5th edn. Cengage Learning, Mason, OH. © 2010 Cengage 1 LECTURE OUTLINE Strategic Planning and the Strategic Planning Process The majority of organisations operate according to a formal plan. Formal planning can yield many benefits for all types of firms. It encourages senior management to think ahead systematically and refine its objectives and policies. Sound planning helps the company to anticipate and respond quickly to environmental changes, and prepare for sudden developments more effectively. Whether at the corporate, business unit, or functional level, the planning process begins with an indepth analysis of the organisation's...
Words: 934 - Pages: 4
...STRATEGIC PLANNING: A TEN-STEP GUIDE* I. IMPORTANCE OF PLANNING There is broad agreement among nonprofit leaders and experts that planning is a critical component of good management and governance. Planning helps assure that an organization remains relevant and responsive to the needs of its community, and contributes to organizational stability and growth. It provides a basis for monitoring progress, and for assessing results and impact. It facilitates new program development. It enables an organization to look into the future in an orderly and systematic way. From a governance perspective, it enables the Board to set policies and goals to guide the organization, and provides a clear focus to the Executive Director and staff for program implementation and agency management. Most organizations understand the need for annual program objectives and a program-focused work plan. Funders require them, and they provide a basis for setting priorities, organizing work, and assessing progress. A growing number of Hispanic communitybased organizations go beyond funder requirements to develop annual objectives and operating plans which also include a systematic plan for resource development, organizational development, and in some cases Board development. Most groups find it practical to define objectives for a 12-month period, and to design strategies and programs to meet them. Longer-range planning – planning beyond the next year or two – often seems more difficult and less rewarding...
Words: 5567 - Pages: 23
...Strategic Initiative Paper – Barnes & Noble In order to be successful corporations have to plan how their business will run financially every year. There are a few different plans that are put together, usually overseen by the Vice President of the organization. Two of these plans include strategic planning which is the capital-budgeting process. The other of the two plans is financial planning. Financial planning entitles collecting sales forecasts from marketing personnel and production plans from operations, and then combining them to make projections of the firm’s future financing requirements (Barnes & Noble, Inc, 2009). While reviewing the annual report for Barnes & Noble, Inc, Team A will discuss the relationship between strategic planning and financial planning for Barnes & Noble, Inc. A strategic initiative will be described and will show how it affects the financial planning for Barnes & Noble, Inc. While there are many factors that can affect the costs and sales of an organization, Team A will discuss how the strategic initiative can be one of these factors. The final piece that will be discussed is the risks associated with the initiative and the financial effects they may have on the organization. Barnes & Noble remain the largest bookseller offering a wide selection of online retailing and discounted, high quality books to enrich, enlighten, and educate its readers. In October 2009, Barnes & Noble launched the nook, the most full-featured eBook reader...
Words: 1002 - Pages: 5
...Implementing your Strategic Plan Implementation framework The following shows from the management or committee (in a volunteer club) perspective the key elements that will need to address to make the transition from the development of strategic plans and strategies to implementation. [pic] The organisation may wish to include an implementation framework as part of their planning documents to assist with implementation. This could be expressed in table form as outlined below: |Implementation framework | |Element |Example activity | |Governance |Ensuring that board reporting links to the strategic direction of the organisation | |Communication |Distribution of the various planning documents to the appropriate key stakeholders | |Resource allocation |Re-alignment of staffing structures and budgets against the plan | |Key stakeholders |Ensuring that member associations such as states adopt and sign-off on the plans | |Ethics and values |Managing the conflicts of interest that may arise within the organisation | |Risk management...
Words: 731 - Pages: 3
...THE PROCESS OF STRATEGIC PLANNING ARTICLE #7 OF 10 BUSINESS UNIT STRATEGY Strategic planning pays dividends to companies when approached in a disciplined process with top-down support and bottom-up participation. The following is the seventh in a series of ten articles describing one proven, tested process for effective strategic planning In the first six articles of this series we described the analysis that needs to be undertaken to be in a position to develop a clear, distinctive and differentiated Strategic Statement for the business. The first six steps of the Strategic Planning Process work are primarily about data gathering, analysis, describing and understanding the business from the views both inside and outside the company. It is a process driven and developed around fact gathering, valuing, and defining. It is developed with top down support and direction and bottom up input and analysis. Depending on the scope and complexity of the business, the next step is to develop a Strategic Statement or statements for multiple elements of the business. Those elements of the business include the overall business, each operating division of the business and each key functional area of the business. So there would be an overall company Business Strategic Statement, a Division Strategic Statement, and Functional Strategic Statements. The Functions might be Manufacturing, Marketing, Logistics or Supply Chain, Human Resources or other functions important to the success of the business...
Words: 1017 - Pages: 5
...Amazon.com: Global Strategic Initiatives Team C FIN 370 August 15, 2011 Jim Gausling CERTIFICATE OF ORIGINALITY: I certify that the attached paper is my original work and has not previously been submitted by me or anyone else for any class. I further declare I have cited all sources from which I used language, ideas, and information, whether quoted verbatim or paraphrased, and that any assistance of any kind, which I received while producing this paper, has been acknowledged in the References section. I have obtained written permission from the copyright holder for any trademarked material, logos, or images from the Internet or other sources. I further agree that my name typed on the line below is intended to have, and shall have, the same validity as my handwritten signature. Student's signature (name typed here is equivalent to a signature): Robert Bosaaen, Joe Lindsay, Priyal Patel Amazon.com: Global Strategic Initiatives Strategic planning initiatives play an integral role in the success of an organization. Strategic planning drives the goal of expansion and globalization in particular for most organizations. Whereas growth is important, it is also to maintain proper initiatives which are commensurate with the organization’s capacity and ability to grow accordingly. Amazon.com, one of the most successful online companies in the Internet’s relatively young history, is a beacon of strength and solid strategic planning in global industry. Through careful planning...
Words: 1167 - Pages: 5
...Strategic Initiative: Starbucks Marla Campbell, Scott Gresham, Amanda Gray, Steven Peslak Lisa Vaira-Haslock, Janet Yuhas FIN 370 September 3, 2012 Matthew Tanzer Strategic Initiative: Starbucks Introduction Starbucks, a global coffee company, “opened the first store in Seattle’s Pike Place Market in 1971” (Starbucks Coffee Company, 2012). Since 1971 Starbucks main goal is for the company to assist in making the world better and in sharing great coffee with their friends. In Seattle, Starbucks was a single store historic Pike Place Market. Starbucks has always offered the world’s best fresh-roasted whole bean coffees. The name, Starbucks was inspired by Moby Dick. According to Starbucks Coffee Company (2012), “Howard Schultz joined Starbucks as the director of operations and marketing, and Starbucks began selling coffee to restaurants and baristas in 1982.” Once 1988 came around Starbucks operated about 33 stores and today Starbucks operates about 17,651 stores in 55 countries. Team B will discuss the relationship between strategic and financial planning. The subject of this report is Starbucks, and there are several topics we have touched on. First, Team B will describe a strategic planning initiative for Starbucks. Secondly, Team B will explain how the initiative will affect the financial planning at Starbucks. Team B will also explain how the initiative will affect costs and sales. Finally, Team B will explain the risks associated with the initiative and...
Words: 1750 - Pages: 7
...develop contingency budgets as business conditions change. Managers use budget information to control daily operations, measure and report on performance outcomes, and allocate resources wisely. Budgeting is the process of identifying, gathering, summarizing and communicating financial and nonfinancial information about an organization’s future activities. Budgets are plans of action based on forecasted transactions, activities, and events. They are synonymous with managing an organization and are essential to accomplishing the goals articulated in an organization’s strategic plan. Budgets are used to communicate information, coordinate activities and resource usage, motivate employees and evaluate performance. Budgets are also used to manage and account for cash. For-profit organizations often use the term profit planning rather than budgeting. Strategic planning is the process by which management establishes an organization’s long-term goals. These goals define the strategic direction that an organization will take over a 5-10 year period and are the basis for making annual operating plans and preparing budgets, taking into consideration economic and industry forecasts, employee-management relations, the structure and role of management, etc. Long-term goals cannot be vague; they must set specific tactical targets and timetables and assign responsibility for achieving...
Words: 477 - Pages: 2
...Strategic Initiative Paper June 9, 2014 John Wetherington Strategic Initiative Paper Harley-Davidson’s strategic plan is to improve the quality, accurately forecast the associated costs of returns and allowances, and to maintain the firm’s reputation of satisfying customers. Their financial plan involves taking steps to make sure the company can grow and be profitable in the future. There are plenty initiatives that affect the organization’s financial planning and costs and revenue of the supply chain. It is important to stay ethical when trying to supplant other motorcycle companies as the world’s number-one motorcycle when taking these initiatives. Strategic Planning Initiative Harley-Davidson’s 2013 annual report discusses several strategic initiatives. Specifically, their quality control initiative will require financial planning to support successful implementation of the initiative and add value to the company. Harley’s alignment of strategic planning and financial planning will affect costs, sales, and Harley's ability to finance future capital projects. The 2013 Harley-Davidson Annual Report identifies their quality control initiative as an effort in early detection of quality issues, and improvement of manufacturing processes to avoid recalls, legal costs, and delays in introducing new products to the market. Furthermore, the company wishes to improve its methods of estimating potential costs associated with warranty claims, recalls, and class action suits...
Words: 1519 - Pages: 7
...FY 2002 Annual Performance Plan Table of Contents 1. Introduction The 1913 Act that created the Department of Labor (DOL) stated that its purpose "... shall be to foster, promote and develop the welfare of the wage earners of the United States, to improve their working conditions, and to advance their opportunities for profitable employment." While this statement is as true today as it was 88 years ago, our vision has matured as the Department has addressed changing economies and a diversified workforce. Today, the Department must ensure that the 21st century workforce is prepared to face the 21st century economy with hope--by equipping all workers with the skills to reach their aspirations. As we respond to the challenges of the changing economy, the Department's first responsibility will continue to be the protection of workers by enforcing the Nation's labor laws: * to ensure the safety of every workplace, * to guarantee an honest day's pay for an honest day's work, * to stop discrimination, * to protect workers from coercion and intimidation, and * to safeguard the pension of every American worker and retiree. The Department will emphasize prevention and compliance assistance--to protect workers before they are harmed physically or economically. Consistent with the Department's commitment to enforcement, we will work together with employers on better prevention strategies, avoiding whenever possible the loss of life, health or economic well-being...
Words: 3202 - Pages: 13
...Management – Strategic Planning: Shriner’s Hospital for Children, Shreveport, Louisiana Name: Institution: Date: The Shriner’s Hospitals for Children of Shreveport, Louisiana published their strategic plan online. The plan was developed based on the findings of a 2012 Health Needs Assessment study, which was commissioned by their Shreveport Community Health Needs Assessment Steering Committee. Environmental Scan The study and ultimate strategic plan, very succinctly identified their regional medical healthcare landscape, regional economic and demographic statistics. Based on this data, the hospital determined that they could have a positive influence, not just within their 9-parish region, as well as, on the overall health of Louisiana’s pediatric population. Theory of Change and Program Portfolio According to the theory of change, for any change to take place, there should be a comprehensive description and illustration as to the way and reason the change would be the thing that is expected in that specific context. The entire theory focused on the specific gap that described as lacking for a program to work. All the goals are set, and the condition necessary is also explained. How the initiative would work should be explained together with the set goals to be achieved when the changes take place. Having the theory`s ideas in mind, access to care was the major issue identified. Proposed programs initialized included an increase...
Words: 1437 - Pages: 6
...Q 4.2 Identify and evaluate resource requirements you will need to implement a new strategy within your chosen organisation. Definition of resources This means that in business anything everything that can help the business to operate is called resources. The use of human capital, natural resources, tangible resources like property or the machines that produce the product. And the intangible resources are the brand image and the understanding of the business, financial resources and anything else that can make the business profit is called business resources. All business resources have a value. Importance In business it is an asset to have a good manager and the use of the business resources to make a business successful. When a business makes use of all the resources that are available to them and work at a high level it generates more profit than the business who do not use. All business has a value and this is determined by the quality and the quantity of the resources. Human capital Human capital in business is an important resource, the skills and the abilities and the knowledge of the workforce. Staff are capable of turning raw material into products that are valuable, they use the knowledge and the skills to so. Controlled on a daily basis the routine and the operations of the business whether the staff are paid by the hour or commission based this includes the decisions of the managers work and customer services. The company will get its money’s...
Words: 980 - Pages: 4
...financial investment is integral in any financial plan. An all-weather portfolio is a financial plan that put in consideration the concept of risk parity. Risk parity is an investment approach that allocates funds to wider range of categories that include the government, bonds, stocks, and equities. The main objective is to maximize the gain in consideration of risk. Risk parity Portfolio requires strong management skills and great oversight to reduce the rates of negative consequences that could arise in the market in form of inflation and recessions. The following is an investment portfolio for client X who wishes to retire next month and invest $1million into dividends paying stocks and bonds. In the all-weather portfolio, client will require the risk parity considerations where 60%investment is in the form of stock and 40% investment is in the bonds. Bonds=$1000000*0.4% Bonds =$400,000 Stock=$100,000*0.6% Stock=600,000 In consideration of the stocks and bonds, the Client can invest in two phases of investment. Likewise, the client can opt to make one investment. Both investment plans are in consideration of the client’s minimum monthly requirements of $5000 plus an income tax of 15%. Investment Plan A Portfolio investment plan The first investment plan an overall one-phase investment whereby the client will purchase stocks and bonds that will generate continuous dividend. The following is the investment plan. Plan A. |Company |Proportion...
Words: 1182 - Pages: 5
...Strategic Initiatiative FIN/370 Strategic Initiative Whether the example is a sports team, small convenience store or major franchise, organizations generally adhere to several common practices in an effort to succeed. The first of these actions usually starts with a game plan for the future. The game plan is named differently depending on the organization establishing it. However, in the end, it is a strategic plan initiative that identifies how the organization plans to achieve its goals in the future. These goals not only include financial but also community, environmental, and charitable goals. The following data will cover Wal-Mart’s latest strategic initiative while answering several key questions concerning the initiative, which include: 1. How the initiative affects the organizations financial plan 2. How the initiative affects costs and sales 3. Risks and affects associated with the initiative Strategic Planning Initiative for Wal-Mart and Initiative Identified in Annual Report A strategic planning initiative Wal-Mart implemented to help grow the company is the “Save Money, Live Better” initiative. To ensure the initiative was a success, the company identified several components that needed to be addressed. For example, one of the “Save Money, Live Better” initiative’s objectives is to achieve price leadership for Wal-Mart. The company’s plan to achieve price leadership is to do everything in its power to...
Words: 1335 - Pages: 6
