...Starbucks Debbie Pryer, MGT578 Strategy Formulation and Implementation University of Phoenix Table of Contents Executive Summary 3 Company Background 4 Vision Statement 4 Recommended Vision Statement 5 Mission Statement 5 Values Statement 7 Environmental Analysis 7 Long Term Objectives 14 Strategic Analysis and Choice 15 Plan Goals and Implementation 18 Financial Projections and Analysis 20 Critical Success Factors 24 Controls and Evaluation 25 Conclusion 26 References 28 Executive Summary Starbucks Coffee Company, Seattle, Washington, is in an enviable position – high growth, few competitors, strong financials, loyal customers, talented management and employees, and brand recognition – so why create a strategic plan? The company faces many threats and opportunities, and if Starbucks wants to continue its success story, a strategic plan will help them continue to achieve stellar results. Starbucks’ vision is to have coffeehouses in every neighborhood around the world, and will continue to grow by finding and delivering the world’s best coffee to the world’s best customers without compromising our world-class principles. An internal analysis shows Starbucks has more strengths than weaknesses, while an external analysis points to several threats and many obvious opportunities. The key is in choosing the right strategies to minimize threats and maximize opportunities. Starbucks should focus on the following three strategies: (1) expand the U.S. market...
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...2005 Strategic Plan Update Executive Summary Kudler Fine Food is a western United States based company, which is located in San Diego metropolitan area. It furnishes quality food products at the reasonable price and texture option of the best food product to their customers. In the year 1998, it started its functions to serve ever-growing consumers demand. The company has three stores with different departments. Its vision is to arouse its profit earning ability through capturing large market share. The company was valued for its employee fairness and high customer services. In comparison to the other competitors, the financial strength of Kudler is quite good as reflected in the forecasted Income statement and Balance sheet. The forecasted financials of the company pondered that its net revenues is showing tremendous growth. While analyzing this company, an environmental scan was necessarily to better realize the current critical situation of the company. This scanning shows internal (Strength & Weakness) and external environment (Opportunities & Threats), which reflects that despite of the number of threats faced by the company; Kudler Fine Foods efficiently asserts a comparatively strong position in the global marketplace through maintaining its apparent growth. Company’s Background In San Diego metropolitan area, Kudler Fine Foods is an incredibly renowned trendy specialty food store that opened in the year 1998...
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...FIN/571 Week 4 Analyzing Pro Forma Statements Decide upon an initiative you want to implement that would increase sales over the next five years, (for example, market another product, corporate expansion, and so on). Using the sample financial statements, create pro forma statements of five year projections that are clear, concise, and easy to read. Be sure to double check the calculations in your pro forma statements. Make assumptions that support each line item increase or decrease for your forecast-ed statements. Discuss and interpret the financials in relation to the initiative. Make recommendations on potential discretionary financing needs. Pro Forma Statements This individual assignment presents an initiative that can be implemented to increase sales over the next five years. The purpose of this assignment is to present pro forma statements of five year projections, and to make assumptions that support each line item increase or decrease for the forecasted statements. Furthermore, this assignment will discuss and interpret the financials in relation to the initiative. It will make recommendations on potential discretionary financing needs. Finally, this assignment will present an analysis of the company's short term and long term financing needs, and determine strategies for the company to manage its working capital. In today’s business world it is very important to understand the business environment and create strategies according to market fluctuations. As...
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...What value does creating Task and KSA statements bring to job analysis? In a task statement, the necessary questions asked in regards to the job analysis. The who, what, how and why’s are answered regarding the job description. In the KSA statement, the task is repeatedly detailed here, as well. Also, the knowledge, skill and ability are assessed in the KSA statement. Job analysis refers to getting detailed information about the job, in which the KSA and task statements further detail the job information, and are therefore valuable to the job analysis itself. Organization is helpful in determining if the job requirements and the individual’s aptitude are a good match. The statements are rather organized. Find another job analysis model and thoroughly describe the model. A commonly seen job analysis model is the PAQ model. The PAQ model stands for Position Analysis Questionnaire. These questionnaires are designed by trained job analysts to help determine worker behaviors. The reading requirement is at a college-graduate level, and is therefore given to managerial and other white-collar professionals. We must create an HRM plan that aligns with the company’s business plan. Share all the information you would need to begin creating your strategic HRM plan. In order to begin creating a strategic HRM plan, I would need to integrate the organization’s goals, policies and action sequences into one idea. The generic strategy of the organization, which describes the...
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...MISSION & VISION STATEMENTS 4 GOALS AND OBJECTIVES 5 EXTERNAL ENVIRONMENTAL ANALYSIS 7 SOCIAL 7 TECHNOLOGICAL 8 POLITICAL 9 ENVIRONMENTAL 9 ECONOMIC 10 INTERNAL CAPABILITY ANALYSIS 11 VRIN 12 S.W.O.T ANALYSIS 14 PROPOSED STRATEGIES 16 STRATEGIC ALLIANCES 18 REQUIRED RESOURCES 20 CONCLUSION 23 REFERENCES 24 INTRODUCTION Located on Sydney’s unique Harbour, one of Australia’s most popular tourist destinations is the Museum of Contemporary Art (MCA). The MCA has been dedicated to displaying, collecting and interpreting contemporary art since it first opened its doors to the public in November 1991 (MCA, 2014). The beginning of the MCA was due to an Australian artist, John Power, who left his fortune to the University of Sydney when he passed away. The University of Sydney, on Power’s request, used this money to educate and inform Australians about contemporary art. This eventually led to the NSW Government donating the old Maritime Services Board premises to the cause. This location is where the MCA remains today. The following paper will analyse critical elements involved in the MCA’s strategic operations. Beginning with the mission, goals and objectives, followed by an external environmental analysis and an internal capability analysis. The majority of the paper will discuss proposed strategies and finally required resources. MISSION & VISION STATEMENTS Whilst not using the term ‘mission statement’, this statement successfully communicates...
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...issues or choices that the planning process should address • clarify roles (who does what in the process) • create a Planning Committee • develop an organizational profile • identify the information that must be collected to help make sound decisions Step Two - Articulating Vision & Mission • A Vision Statement outlines what the organization wants to be. It concentrates on the future. It is a source of inspiration. It provides clear decision-making criteria. Vision Statements define the organizations purpose, in terms of the organization’s values rather than bottom line measures (values are guiding beliefs about how things should be done.) The vision statement communicates both the purpose and values of the organization. For employees, it gives direction about how they are expected to behave and inspires them to give their best. Shared with customers, it shapes customers’ understanding of why they should work with the organization. • A Mission Statement tells you the fundamental purpose of the organization. It concentrates on the present. It defines the customer and the critical processes. It informs you of the desired level of performance. A Mission Statement defines the organization's purpose and primary objectives. Its prime function is internal – to define the key measure or measures of the organization’s success – and its prime audience is the leadership team and shareholders. Step Three - Assessing the Situation Once an organization has committed to why it exists...
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...Kudler Fine Food (Problem Statement) The paper should examine Kudler Fine Foods existing issues and identifying current strategy. The paper should discuss Kudler’s marketing and Strategies for better positioning for growth. Kudler Fine Foods, founded by Kathy Kudler in 1998 with a vision to grow into several store in high end markets. In summary and as shown in the 2003 strategic plan illustrated that Kudler Fine Foods was founded by Kathy Kudler first in La Jolla – California area, followed by two additional stores in 2000 and 2003. While the KFF La Jolla location was doing well, there were some challenges on the second location in Del Mar – California in which consideration for merging the Del Mar store with the third location in Encinitas - Carlsbad, California. Kudler Fine Foods (KFF) vision “Kudler Fine Foods will be the premiere gourmet grocery store for those savvy shoppers who are searching for the finest meats, produce, cheeses, and wine” the vision statement automatically set the targeted customers with specific passion for gourmet cooking and fine wines from a singles source. Kudler Fine Foods important task is to understand to look outside the box and look into ways to how to reach the market and review their current position, marketing & strategy plans among few other issues and have a mission statement to align with base on some kind of key metrics to measure progress. KFF entire operations carried issues that became problems. Some of the issues also...
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...written by David Yoffie and Michael Slind published by Harvard Business School (Yoffie, et al., 2008). The following paper examines in detail the strategies utilized by the company as outlined in the strategic management steps. Several recommendations are also proposed to handle the issues surrounding the organization. Summation Apple Inc. was created by two college dropouts, Steve Jobs and Steve Wozniak and later joined by A.C. Markkula, Jr; they created the company with one circuit board (Apple I) and turned into 200 sales within two months time (Yoffie, et al., 2008). The company developed a premium-price differentiation strategy; in which two years later, Apple II was introduced to the world. Apple II tripled company sales to more than 100,000 in less than two years compared to Apple I (Yoffie, et al., 2008). This paper analyzes and reviews the strategies utilized by Apple Inc. based on my comprehension of strategic management; and propose recommendations for several problems that Apple faced to become a successful billion dollar company. Situation and Pending Decision Analyzing the case presented a huge problem for Steve Jobs and his management team, was the company’s success acquired recently a temporary “up” in this fluctuated industry, or did he finally integrate a strategy for the company – premium-price strategy (Yoffie, et al., 2008, p. 15). The pending decision problems...
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...Crafting and Executing Strategy Carolyn Roberson Dr. Albert Yin October 22, 2012 Develop an argument supporting the importance of a strategic plan for the success of the defined business. We have been appointed to create a strategic plan for xxx-Company that will outline a process that will provide short-term and long-term strategies to provide resource to persons of national and global locales. It has become apparent that throughout one’s lifetime there will be a time when the industry they have been employed for more than 5-10 years comes to an end. However, transitioning into different industries with their current skills may not be enough. Although people are eager to learn new processes in different industries, they find themselves unprepared to accept that they are not as productive in the unfamiliar setting. Our goal is to assist management to strategically set the initiative to assist current and future employees to transition into any work environment while maintaining the same level of their own personal expectations. In order to give the business a successful beginning and promising chance for its future, a definitive vision and mission will ensure its choice of decisions essential to its success and competitiveness (Ellis, 2010). In any defined business, top management must take the initiative to develop and redevelop its strategic plan in order to be successful in their industry. Having a clear understanding that regular strategic assessment on the business’s...
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...(30 marks) 2. In what ways can organisations develop strategically useful performance management systems? What is the nature of the link to SHRM thinking? (30 marks) 3. Why is reward management potentially so problematic for SHRM? In what ways can organisations integrate reward management in to the HRM strategy? (30 marks) 4. The best approach to modern employment relations is through the use of partnerships and partnership agreements. Discuss this statement in relation to a country of your choice. 5. How can HR functions deliver strategic organizational change and what difficulties may they face in doing it? Use theories, models and organizational examples as appropriate to develop your answer. 6. Critically evaluate the use of competency based approaches in modern HR strategies. Explain in details how they may be used in recruitment and selection. Use organisational examples as appropriate to support our answer 7. Evaluate the main theoretical views of the nature of HRM strategy? 8. Critically evaluate ONE of the following a) In what ways can HR strategies provide the level of organisational flexibility required by modern organisations? OR b) Should reward strategies always include an element of performance related pay. Justify your answer in relation to both theory and practice 9. How would you present the case for an organization to adopt a strategic approach to the management of people? What would be the potential advantages and disadvantages that an organization...
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...from what it was when the company was founded back in 1923. They cannot expect to keep up with the competition if they are not willing to change their plan and start gearing it towards their future instead of the past and present. Mission and Vision Statements. According to the text, Disney’s mission statement is “To be one of the world’s leading producers and providers of entertainment and information. Using our portfolio of brands to differentiate our content, services and consumer products, we seek to develop the most creative, innovative and profitable entertainment experiences and related products in the world.” It also states that Disney does not have vision statements. In order to gear their strategy for the future, it is crucial that Disney develops clear and concise vision statements. I think this is the first problem that contributes to their recent dramatic revenue drop and a simple step that will help them out on an all-around basis. Vision statements answer the question “What do we want to become?” The text states that it is important to develop vision statements and needs to be considered the first step in strategic planning. Walt Disney has completely skipped this step in the planning. Not having a vision statement might have gotten them by last century, due to the lack of...
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...are become similar, each company needs to develop new innovations is product design, services offered as well as differentiate their product from their competitors. To accomplish this many companies develop a strategic plan including defining strategy, direction, and making decisions on how and when to allocate its resources. A company must gain greater insight into their current position and possible paths that can be taken to achieve a specific course of action. The strategic plan is conducted by a multi-step process which covers vision, mission, objectives, values, strategies, goals and programs. Validation of Subway’s vision, mission, and values statements In –depth research will be required to validate Subway Corporations statements on mission, vision and values. These statements are not only key elements in the future planning of the company they also provide the basic foundation for a historical outlook. By conducting research on these basic components managers will be able to not only develop a strategy for the future; they will be able to better understand the company’s current situation as a measuring stick for current success. Both managers and stakeholders should have a clear understanding of all three statements and follow them in order for a company to function successfully in its market. An external environment analysis consists of analyzing factors that happen outside of the control of an organization yet still have a vital influence on the organizational...
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...Cisco Strategic Planning and Strategic Intent Introduction The purpose of this essay is to understand the core concepts behind strategic planning and strategic intent and then to compare and contrast those concepts in regards to the strategies of Cisco Systems Inc. Description of Theories/Core Concepts Strategic Planning Strategic planning is the process of identifying a desired future, then transforming that vision into goals or objectives, and then to establish a set of task lists or sequences to achieve the goals. Strategic planning starts with an end-state then works backwards to the organizations currents state. In general, the strategic planning process begins with identifying the mission and/or vision for the company, then setting up the goals and objectives, followed by analyzing the company’s current state, and then setting up a plan based on the current state to meet the established goals and objectives. Lastly strategic planning calls for the implementation of the plan while getting feedback and establishing controls to keep the organization on track. (Stacey, 2007) Strategic Intent Strategic intent is a different approach although there are some similarities. The main principle behind strategic intent is to establish “an obsession with winning at all levels of the organization and then sustained that obsession over the 10-20 year quest for global leadership.” (Hamel, 1989) Using Strategic Intent to provide the path ahead, organizational leaders...
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...Strategic Management Strategic management is the process of designing an organization vision, mission and goals. It develops set of actions for formulating the strategy. Some arguments exist in corporate that ’how strategy is made’ either through design or emergence approach. According to emergence approach, strategy emerges through the initiative taken by the manager for enhancing the performance of firm. Here, the strategy is formed without any long term plan. The manager just frames it, to meet out the day to day operations of the firm. For instance, Sam Walter, the founder of Wal-Mart, established his store in 1962. His competitor opened the store in urban areas, to get huge profit. But for a change, Sam Walton opened his store in rural area, which brings him success, as he got customers 50 miles away from the stores. Here, he does not apply any strategic plan. Strategy came out through his response to the problem. Emergent approach of framing strategy is common in earlier days, and it become quite successful too. But according to design approach, strategy is intentionally formed by the organization to achieve the goals. For instance, consider an organization is going to expand the business globally. For this, a well planned strategy should be devised to meet out the requirements of various countries. Once the strategy is devised, it should be implemented by keeping in mind about the mission and vision of the organization. Mostly top management plays a vital role in this process...
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...Slide 1.1 1: Introducing Strategy Johnson, Whittington and Scholes, Exploring Strategy, 9th Edition, © Pearson Education Limited 2011 Slide 1.2 Learning outcomes • Summarise the strategy of an organisation in a ‘strategy statement’. • Identify key issues for an organisation’s strategy according to the Exploring Strategy model. • Distinguish between corporate, business and operational strategies. • Understand how different people contribute to strategy at work. • Appreciate the contributions of different academic disciplines and theoretical lenses to practical strategy analysis. Johnson, Whittington and Scholes, Exploring Strategy, 9th Edition, © Pearson Education Limited 2011 Slide 1.3 Definitions of strategy (1) • ‘..the determination of the long-run goals and objectives of an enterprise and the adoption of courses of action and the allocation of resource necessary for carrying out these goals’ Alfred Chandler • ‘Competitive strategy is about being different. It means deliberately choosing a different set of activities to deliver a unique mix of value’ Michael Porter Sources: A.D. Chandler, Strategy and Structure: Chapters in the History of American Enterprise, MIT Press, 1963, p. 13 M.E. Porter, ‘What is strategy?’, Harvard Business Review, 1996, November–December, p. 60 Johnson, Whittington and Scholes, Exploring Strategy, 9th Edition, © Pearson Education Limited 2011 Slide 1.4 Definitions of strategy (2) • ‘..a pattern in a stream of decisions’...
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