Analysis of Starbucks’ Vision Statement
After analyzing Starbucks’ vision statements, the ‘directional’ element can be found. One neighborhood is the company’s direction on where it is heading to. By having this element in the vision statement, Starbucks possesses the strength of having a clear view on what it wants to be that benefits the community. As mentioned before, Starbucks aims to be a responsible and good neighbor no matter where they do business. This eventually provides the opportunity to widen the market segment and serve more people. Unfortunately, being a globalised company, the directional element may not be synchronized around the globe because different region has different management system. Thus not all will follow exactly the original protocol set
Next, the ‘graphic’ element can be found where it shows clearly what type of company Starbucks is. Being as a food and beverage company, Starbucks holds the strength of having the ability to generate high income because food is necessity. Besides, customers will obtain satisfaction from various products offered thus it creates high demand from diverse customer range. On the other hand, the major weakness of a food and beverage company is that the shelf life of fresh food items or perishable items is relatively short so it will cause wastage.
The ‘focus’ element in the vision statement indicates that Starbucks emphasizes on providing premium quality coffee beverages. By having this clear focus, Starbucks has the ability to meet the customers’ needs precisely which is known as strength for the company. But if Starbucks stresses too much on only one product category, the company may overlook the opportunity of other product categories that may generate profitable revenue. Thus, Starbucks should search for opportunities such as venturing into other product line to expand its business.