...Compound Rates of Growth In the modern version of an old legend, an investment banker asks to be paid by placing one penny on the first square of a chessboard, two pennies on the second square, four on the third, etc. If the banker had asked that only the white squares be used, the initial penny would have doubled in value thirty-one times, leaving $21.5 million on the last square. Using both the black and the white squares would have made the penny grow to $92 million billion. People are reasonably good at forming estimates based on addition, but for operations such as compounding that depend on repeated multiplication, we systematically underestimate how quickly things grow. As a result, we often lose sight of how important the average rate of growth is for an economy. For an investment banker, the choice between a payment that doubles with every square on the chessboard and one that doubles with every other square is more important than any other part of the contract. Who cares whether the payment is in pennies, pounds, or pesos? For a nation, the choices that determine whether income doubles with every generation, or instead with every other generation, dwarf all other economic policy concerns. Growth in Income per Capita You can figure out how long it takes for something to double by dividing the growth rate into the number 72. In the twenty-five years between 1950 and 1975, income per capita in India grew at the rate of 1.8 percent per year. At this rate, income doubles...
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...Starbucks’ Structure Starbucks is a well-known coffee, tea and food retailer that has become a household name and operates in numerous countries. They have grown strong through their ability to adapt with needs and wants of the consumers they serve. They have also been able to do so through key business strategies. To succeed, companies must portray a clear message and keep organized through clear job descriptions, the right departmentalization, clear plans to operate in financial difficulty and through the use of the proper organizational strategy. Starbucks message of outstanding customer service is shown through their job descriptions. Typically, they resemble the following: As a barista at Starbucks, you will be responsible for creating the world-class atmosphere our customers have come to expect and enjoy. By providing our customers with an inviting store with clean product displays and knowledge of our products, you will be able to fulfill their desires with a perfectly made beverage or food item while allowing them to escape to a place where everybody knows their name. To ensure this ambience is provided, you will be expected to act in accordance with all Starbucks’ guidelines and company models. In return, you will gain an enjoyable position in a strong, fast-paced company that is not only a great place to work, but also a great place just to be. A barista is more than just being a bartender for coffee; it is a way of life. The job specification, providing the...
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...support your choices. 5. Use at least five (5) quality academic resources in this assignment. Note: Wikipedia and other Websites do not quality as academic resources. Five Guys Burgers and Fries started its operations in 1986 by selling juicy burgers and fries. When Jerry Murrell and his sons started off; it was just five stores in Northern Virginia; but now they have 570 store operations in U.S and Canada with approximately $483 million sales as of 2009. The Company has had strong business philosophy since its origin. Along with a novel idea of juicy hamburgers and fries which appealed to the masses; it has been clever in amalgamating it with a unique recipe and fresh marketing tactics to appeal to the market. The recipe in itself differentiates the product from that of its competitors; the major ones being McDonalds; Wendy’s and Burger King. The company restrains from serving frozen or dehydrated products to customers which sets its taste apart from the clutter. The company makes; what is called the perfect fries with potatoes coming from Idaho with a...
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...RUNNING HEAD: STARBUCK’S STRUCTURE STARBUCK’S STRUCTURE [INSTRUCTOR’S NAME] [STUDENT’S NAME] [COURSE] [DATE] Introduction The structure of famous coffee seller Starbucks is not uncommon one. Executives of Starbucks oversee the company from Seattle, Washington, where its headquarters are located. District managers, around the city, oversee the regional grouping of stores. District managers of Starbucks report directly to Starbucks Corporation. Store manager, at each store acts as a chief. A collection of shift supervisors works under this store manager. These shift supervisors act as managers in absence of store manager. Rest of employees is under the shit supervisors who are named as baristas at Starbucks. Job Description: A key position in the company is the Barista. Starbucks’s have specific criteria in order to be qualifies for the job. A person should be extremely personable and outgoing in order to be qualified for the Barista. Barista set the tone for the store. People are of the primary focus for the Starbucks. This primary focus is also represented by the Starbuck’s relationships with its employees and this relationship then flow to their customers. A priority of Barista is to make the customer’s experience as pleasant as possible, from the welcome as customer enters into store to the serving of great cup of coffee. Job description of Barista at Starbucks includes but not limited to: ...
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...Research/ Analysis Paper Organizational Research/Analysis Paper: Starbucks In 1971 Starbucks was founded on a love for coffee. Three businessmen, Gordon Bowker, Jerry Baldwin, and Zev Siegl, had a desire to share that love with Seattle by opening a small coffee shop known as Starbucks Coffee, Tea & Spice. Ten years later Starbucks had grown to four retail stores located throughout the Seattle area. Whole bean coffee was sold at all four locations. Upon reaching 100 stores in 1992 the company went public. Starbucks grew at an exponential pace thereafter, into a successful, well-known international organization that helps roughly 35 million customers a week (Stanley, 2002). The purpose of this paper is to discuss and analyze Starbucks’ organizational structure, organizational behaviors in communication and ethical decision making, and organizational goals. Organizational structure “is depicted through its organizational chart and recognizes concepts of differentiation and integration” (Anthony, Gales & Hodge, 2003). It’s a “formal composition of task and reporting relationships that allows the company to control, coordinate, and motivate employees so a common goal can be achieved (Hitt, 2008). Starbucks uses a matrix configuration by combining divisional and functional structures. Because of the complexity of matrix structures, Starbucks is categorized as a mechanistic organization, which entails high vertical and horizontal complexity, high formalization, high...
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...representative by the name of Howard Schultz, became interested with the Starbucks Company and was hired to take charge of marketing. As a marketing idea, Schultz came up with a remodeling concept and product adjustment, but was initially denied by the founders. Eventually a trial run was approved and was a success. After a few years, Schultz decided to venture out to pursue his own business. The main focus was selling espresso drinks within the community, which was much different from what Starbucks was doing at that time. As an entrepreneur, Schultz bought Starbucks from the original founders and incorporated his genius ideas that created what the American people love to call “The best coffee cafe in the world”. Starbucks is known for their kindness, exceptional customer service and the variety of coffee and baked goods. Among the key responsibilities is to ensure that every guest is satisfied and pleased with their experience. By doing so, each employee must retain the ability to adapt quickly, work with others in a professional manner and have exceptional interpersonal skills. All employees will demonstrate integrity, proficiency, customs and courtesies at all times. Complete knowledge of each position will be needed to effectively communicate with customers in order to provide information about the products and services. In order to better serve each customer, all newly hired personnel will be paired with a knowledgeable employee that will conduct hands-on training for four...
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...Dessert From Wikipedia, the free encyclopedia For other uses, see Dessert (disambiguation). Not to be confused with desert. Dessert | A flourless chocolate cake (torte) | Type | Usually sweet | Variations | Numerous (biscuits, cakes, tarts, cookies, sandeshs, gelatins, ice creams, pastries, pies, puddings, custards, and sweet soups, etc.) | Cookbook: Dessert Media: Dessert | Apple Pie Baked custard An assortment of desserts on a table Dessert (/dɨˈzɜrt/) is a course that concludes a main meal. The course usually consists of sweet foods and beverages, but may include coffee, cheeses, nuts, or other savory items. In some parts of the world there is no tradition of dessert to conclude a meal. The term dessert can apply to many foods, such as cakes, tarts, cookies, biscuits, gelatins, pastries, ice creams, pies, puddings, custards, and sweet soups. Fruit is also commonly found in dessert courses because of its naturally occurring sweetness. Some cultures sweeten foods that are more commonly savory to create desserts. Contents * 1 Etymology * 2 Usage * 3 History * 4 Ingredients * 5 Varieties * 5.1 Cakes * 5.2 Chocolates and candies * 5.3 Cookies or biscuits * 5.4 Custards and puddings * 5.5 Deep-fried desserts * 5.6 Frozen desserts * 5.7 Jellied desserts * 5.8 Pastries * 5.9 Pies, cobblers, and clafoutis * 5.10 Sweet soups * 6 Gallery * 7 By continent ...
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...I have chosen to review the organizational structure of Starbucks Coffee, both for successful and unsuccessful organization behaviors and concepts that have been intertwined into the Starbucks business structure. At first glance I would have thought that Starbucks has made all of the right business moves along the way as they started in Seattle as a single neighborhood coffee house and have grown to be a globally recognized brand with stores in 50 countries worldwide. However, no organization is perfect and mistakes do get made. In this class I have learned that a good portion of what makes and organization successful is if they are able to take the learning’s from the mistakes made and implement positive changes that benefit the organization for years come. I have also learned that a company’s organizational structure needs to be adaptable. An organization may have a winning financial recipe but as the economy and customer desires change with time, the organization needs to be able to implement a change to the management structure and correct behaviors that are either no longer helping or negatively impacting the organizations stability and financial gain. Starbucks fosters a strong belief in promoting positive group behaviors and working together as a unified team on all levels of the organization. Each person has an accountability and responsibility in supporting the organizations goals and vision. Unity is important is this area as the organizations achievements are not...
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...other branches street, very convenience to get here, with barely traffic according to the average observation. Affordability Due to this street haven’t gone very popular or commercial, not like ciptraland or G walk, so the rent for this place still in an average normal price. 80juta/ year, Neighbors Near this area, we have a lot people live around, and passing by, such as the darmo baru barat, or the darmo permai selatan, kupang indah etc, this street will be a best-pass-by street if they come back from the downtown or work. Parking convenience During the street is quite narrow, so it has a limited parking capacity approximately 4 cars in front the shop, but in front or near the shop has other place to park. Organizational structure Job Description General Manager * Develops and executes sales and profit plans that are in-line with budgetary goals. * Ensures and is accountable for profitability of the store by growing sales and controlling costs of goods, inventory levels, labor, supplies and expenses. * Maintains and utilizes daily, weekly, quarterly and annual financial reporting tools. * Ensures proper team member coverage, scheduling according to the needs of business while maintaining target labor costs. * Oversees all cash and media management functions. Able to perform all POS duties, front and back of house functions including opening and closing procedures, coordinating with the Corporate Office as necessary. * Maintains proper...
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... Business History The Perfect Cup is a new restaurant venture with an expected opening date in March of 2005 in Somewhereville, Texas. The business is a coffee shop located in Old Town, a newly renovated section of town, with antique shops and galleries along the main street. We will specialize in coffee, tea, cappuccino, frozen cappuccino, and homemade cookies and brownies. There are no other shops that only serve coffee in Old Town, the nearest being over five miles away. Our target audience is intellectuals/artists/writers. Currently, there are no places in the surrounding area that cater to artists and writers. The Perfect Cup will serve this area well. Vision and Mission Statement The Perfect Cup will become the foremost coffee shop in the area. We will serve a perfect product at a very reasonable price. We will also be a meeting place for artists and writers and a place for them to show off their work. We will create an atmosphere conducive to creative expression and promote the creative process. Objectives Our primary goals over the next year are: 1. Secure financing for start-up of at least $30,000 for space and equipment. 2. Renovate our space in Old Town. 3. Acquire equipment necessary for business, i.e. coffee pots, cappuccino machines, blenders, etc. 4. Make agreement with coffee distributors, and bakery vendors. 5. Create a cozy, artist friendly environment (i.e. choice of colors, choice of music, decor) 6. Open for business and become...
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...mimetic isomorphism pressure to change was seen when Sarbanes Oxley was passed in order to ensure that an Enron-like scenario never happened again. This was an external vs. internal force for change. None of the above Question 2. 2. (TCO A) Which of the following best shows a company responding to identity pressures? (Points : 7) McDonalds when they started selling coffee drinks and salads Domino’s pizza’s new crust and pizza recipe Dairy Queen when it invented “the Blizzard” The Wall Street Journal when it went online All of the above Question 3. 3. (TCO B) Which of the following best defines the “Six Box” model of diagnosing change? (Points : 7) Includes purpose, structure, rewards, and helpful mechanisms Is based on the conceptualization of the organization as a transformation process Can be a starting point for an organization that has not given attention to the trends that may impact its future operations Includes strategy, structure, process, and lateral capability Includes structure, style, skills, super-ordinate goals, etc. Question 4. 4. (TCO B) Using a model like the Burke-Litwin Model to assist with diagnosing change will help the leader to do what? (Points : 7)...
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...Needs Analysis Paper Learning Team D - Leonora Gjemnica, Jessica Knight, and Wilhelmina Williams HRM/326 May 4, 2015 Carol Jackett Needs Analysis for Starbucks Starbucks Coffee brand portfolio includes, “Starbucks Coffee, Teavana, Tazo, Evolution Fresh, LaBoulange, Torrefazione Italia Coffee, and Seattle’s Best Coffee in the world” (Starbucks Company Profile, 2015). With so many stores around the globe today, Starbucks has become the foremost roaster and retailer of specialty coffee. “The company has stores that are a neighborhood gathering place for meeting friends and family, which customers enjoy quality service, an inviting atmosphere, and an exceptional beverage. As of December 2014 the company operates 21,878 stores within 68 countries”. This paper will include a discussion concerning Starbucks and the needs analysis. The paper will discuss a needs analysis that will include an organizational analysis, a team analysis, and a task analysis. The second part of the paper will consist identifying training objectives and defining a measuring system that identifies those objectives’ effectiveness. Organizational Analysis As we all know, The Starbucks brand continues to grow day by day and has been around for numerous of years. “Establishing itself in 1971, Starbucks has been a successful corporation in the past decade and is continuing to grow (Starbucks, 2014). Starbucks launches...
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...(including franchised) in 18 countries worldwide. Stores range from 4,000 to 8,000 square feet and are generally located in freestanding suburban locations. They also operate smaller satellite stores, kiosks and sell directly through large retailers such as Tesco. Krispy Kreme is a vertically integrated business. Starting with their secret recipe, they make fresh doughnut mix each day, which is distributed to all stores. They manufacture their own doughnut and coffee machinery. Doughnuts are freshly made; they have a simple product line focused on doughnut variations and their own branded coffee (developed from the acquisition of Digital Java in 2001).In the UK Krispy Kreme operates a subsidiary (with a 34% equity interest) with an exclusive development licence to the franchise in the UK. Competition analysis Krispy Kreme operates within the specialty eatery industry; however they compete withevery outlet that a consumer can access in order to satisfy their need for coffee, snacks ortreat-based items. These outlets include other specialty eateries, fast food restaurants,local convenience stores, and other retail environments that stock coffee and otherbeverages.In relation to their core product (doughnuts), Krispy...
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...Communicating the Change Aaron A. Czupryn aaczupryn@yahoo.com HRM-587 Managing Organizational Change Professor John Dibenedetto 08/17/2013 Explanation of Spreadsheet Communication Plan. As the goal of this assignment I have set out to develop a realistic communications plan for Starbucks concerning its organizational changes. The goal of the plan is to reach all stakeholders that will be affected by the upcoming changes and make sure that a common language is being used throughout the plan. The stakeholders’ that I have identified through my research includes the following: board of directors, senior management team, district managers, store managers, shift supervisors, baristas (employee), shareholders, vendors, and contractors. The timeline of communication would begin with the initial communication being sent out by the CEO to the board of directors, senior management, and district managers. The district managers would then forward the communication to the store managers and shift supervisors, who would then pass on the information to the baristas (employee). Two separate communications would be sent in conjunction with the first. The first of these communications would originate from the information sent to the board of directors by way of the CEO. The board of directors would forward the communication in its entirety or omit any non-essential information to the shareholders. The communication would inform them of all upcoming organizational changes so...
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...Lauder Business School, Intercultural Management and Leadership Wendy’s or Vapiano? In initial Research: How companies present quality of their products and services to the public Prepared by Svitlana Kyazimova Vienna, 2010 Table of content Introduction 1. What are my expectations from the restaurants? 2. Wendy’s valuation 3. Vapiano valuation 4. Personal experience of being a Vapiano customer Conclusion Introduction A quality is an attribute or a property. Subjectively, something might be good because it is useful, because it is beautiful, or simply because it exists. Determining or finding qualities therefore involves understanding what is useful, what is beautiful and what exists. Commonly, quality can mean degree of excellence, as in, "a quality product" or "work of average quality". The quality of a product or service refers to the perception of the degree to which the product or service meets the customer's expectations. The quality management and quality control should be performed in all the levels. The scheme bellow demonstrates how the quality management functions in the Fast-food restaurants: In my initial research I would like to investigate two companies from the same business sector which is Entertainment and the industry is Restaurants. My choice fell on fast food Wendy’s from Wendy's/Arby's Group (USA/Canada) and Vapiano International...
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