Starbucks Strategic and Planning Initiatives
Maria Parker, Olga Pena, Terrance Kirkland Sr.
FIN/370 – Finance for Business
February 20, 2014
University of Phoenix
Professor C. Furlan
Introduction
For an organization to be successful, clean and concise business planning is instrumental for future growth and expansion. Starbucks has been at the pinnacle of the coffee industry for years however; they are constantly being pursued by its competitors. To remain at the top, Starbucks has been required to change with the times. With the advent of social media, and online shopping, many people are introduced to new products through avenues such as Facebook, and other media outlets. Customers are no longer required to leave the comfort of their homes to order some of their favorite products. Businesses have been required to map out their plans for the future both strategically, and financially. Strategic planning involves an organization to do an honest and truthful analysis of where it is in the business. This required studies of various data from a number of sources to include customers, investors, and employees. Once this data is gathered and analyzed, the organization can begin moving into the financial planning phase. The financial planning phase consists of the organization determining how it will push itself forward to ensure it still able to provide customers what they require. Both the strategic and financial planning portions require each other to operate and keep an organization moving forward. In recent years, the advent of the Keurig coffee brewing system has provided customers a way of ordering and enjoying their favorite brands of coffee without having to leave the comfort of their homes. Many coffee industry leaders such as Dunkin Donuts have enthralled themselves into the “K” cup business as a way to meet the needs off