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Strategic Management Process: Vision, Goals & Objectives

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Strategic Management Process/Vision, Goals, Objectives

Is Starbucks' Mission (vision, goals, objectives) aligned with its strategies? In other words, can Starbucks continue its growth as a multi-billion dollar company, and yet maintain its entrepreneurial character?

Case Instructions:

Visit the Starbucks website, identify Starbucks' mission statement, and analyze it.

Then read the following two articles about Starbucks, as well as conduct additional research. When you visit the Starbucks website, be sure to review the most recent Annual Reports under the "About Us/Investor Relations" sections of the site (these reports are important - they are essentially a company's self-analyses).

Analyze Starbucks' mission statement, as well as the company's goals and objectives.

Identify and analyze Starbucks' main stakeholders, and whether the company mission meets stakeholders' goals.

Analyze how Starbucks' strategies meet its mission, vision, and objectives.

Write a five page paper, answering the question above!

Required Articles:

Helm, B. (2007). Saving Starbuck's Soul: Chairman Howard Schultz is on a mission to take the company back to its roots! Oh, yeah-- he also wants to triple sales in five years. Business Week. New York: April 09, 2007, Issue 4029, p. 56

Rae, J. (2006), The Importance of Great Customer Experiences. Business Week. New York: November 27, 2006. Issue 4011, page 32

Helpful Hints

Business school case assignments are meant to offer practice opportunities for future business people, such as you, who are earning their MBA degrees. Therefore, case assignments should not be descriptive. Consider yourself a consultant hired to make these assessments.

There are no right or wrong answer to the Case question, as long as it is well-supported and argued.

Study in-depth Background Materials and identify main strategy concepts.

Recognize the concepts of mission/vision/goals, stakeholders, as well as the strategic process.

Apply strategy concepts to facts in the Case and your own research (such as the company's website, etc.). Be sure you have the most current information!

Analyze the mission statement. Be very critical and do not let yourself be influenced by a company's statements. Analyze the mission against the organization's actual strategies.

Analyze how the company meets its major stakeholders' goals.

Identify and appraise some of the strategic choices Starbucks has made (e.g., product differentiation, R&D, operations)

Compare their strategic choices to the mission statement, goals, and objectives.

Make a decision (yes or no), and critically defend it using arguments based upon your analysis of mission/vision and strategic choices.

Ensure that you apply strategic concepts to facts.

Use your analysis in order to defend your position.

Format!

Writing! This is a business report that you develop for the board of directors and shareholders if you were the CEO, or for the CEO if you were the consultant. This is a professional and objective document. Use Tips of Good Writing to structure your report. This is an important business skill to acquire.

Executive summary:

Starbucks' mission/strategic choices/Do they align

Introduction:

Starbucks' mission, summary of your analysis

Main Body: Sections (use titles/headings)

Mission Statement

Analysis

Your conclusion

Apply strategy concepts to facts about Starbucks

Conclusion: Summarize paper

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Solution Preview

Executive Summary

This report is related relation between the mission and strategies of the company. In order to understand the profitability and success level of an organization it is necessary to understand the alignment of mission and strategies with each other.

In this report, I am going to analyze the various parameters that are associated with the stakeholder's goals and strategies of the company to operate at the internal level as a multi-billion dollar company. This report explains that the management has implemented various strategies to gain high profit so that the stakeholders of the company can enjoy good services and facility both in monetary terms and non-monetary terms.

By means of this report the reader would be able to understand the role of effective strategies to achieve the mission of the organization.

Introduction

Mission of an organization is directly linked with the objective and goals of the company. Without having a good vision and mission it is not possible to get success in the industry (Starbucks Mission, 2009). Starbucks is big corporate name, which has a mission and some objectives, In order to achieve the mission of the company the management has worked on some strategies that are directly associated with the performance and need of the stakeholders of the company.

The mission of Starbucks is to make a commitment to ensure the quality in its products and continuous improvement in the product according to the need of the customers. It also ensures it partners to create a standard for them (Wilson & Gilligan, 2005). It offers quality products to its customer that uplifts their life standard. The management of the company also committed to being a good corporate citizens and being honest for its shareholders by providing a significant return on their investment (Starbucks Mission, 2009). By developing a positive relationship between the strategies and objectives of the company, it is very easy for the company to get success in the market and expand the business at the international level.

About Starbucks

Starbucks is a United State based MNC engaged in coffee and coffeehouse chain business. It is one of the world's largest coffeehouse companies. It has expanded its business in about 49 countries with nearly 16, 120 stores (Starbucks Corporation, 2009). Its products include espresso-based hot drinks, drip brewed coffee, other hot and cold drinks, snacks, mugs and coffee beans. A variety of complementary food items, coffee-related accessories and equipments is also sold by the company (Starbucks Unveils New Strategic Initiatives To Transform and Innovate the Customer Experience, 2008). Its entertainment division and Hear Music brand markets various books, music and films. The other products of the company are generally seasonal and locality specific. The ice- cream and coffee brands of Starbucks are sold at grocery stores (Starbucks Corporation, 2009).

The aim of the Starbucks is to establish it as one of the most recognized and respected world brand. In order to achieve this, the company is trying to plan an expansion strategy for its specialty stores and even take those opportunities which would leverage its brand image (Starbucks Unveils New Strategic Initiatives To Transform and Innovate the Customer Experience, 2008).

The success of Starbucks has attracted global attention and it ...

Solution Summary

This solution discusses vision, goals and objectives in the strategic management process.

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PROJECT: Strategic Management Process/Vision, Goals, Objectives

I just need some guidance and help regarding this case assignment. I would appreciate a detailed guide responding to this. Your help would mean a lot as I understand that you are not trying to finish my work for me. Your assistance would mean a lot. Thank you.

Background

In the Session Long Project (SLP) of MGT599, we will create a "strategic toolkit," which once assembled, will allow you to undertake strategic planning and implementation projects in any organization. Upon completion of each SLP assignment, you will immediately be able to put a specific skill to work, and you will be capable of completing the Case assignment in each module. The goal of the SLP is thus one of skill-building â?" i.e., in each module we will focus on developing a skill for a different phase of the strategy-making process. Throughout this course, you should complete the SLP before you complete the Case. Before you begin the SLP, you need to read the background materials thoroughly.

Required Reading

Welch, J., & Welch, S. (2008). State your business: Too many mission statements are loaded with fatheaded jargon. Play it straight. Business Week, (4066)80. Retrieved from: http://www.businessweek.com/magazine/content/08_02/b4066080139784.htm?chan=search
Assignment

In this module, you will be learning what constitutes a good mission and vision statement. You will also be developing a list of criteria for evaluating such statements. You will then use these criteria to evaluate a corporate vision and mission statement in the Case.

Keys to the Assignment

The key aspects of this assigned that should be covered in your paper include:

Step 1: Read the background materials and conduct additional research on websites dedicated to writing mission statements. You may rely solely on the websites in the background materials or supplement them if you wish. You will find that there are a great many opinions on what constitutes a "good" mission statement. Your job is to identify five criteria that YOU believe are crucial to devising good mission statements.

Step Two: Research the background websites dedicated to writing vision statements. Again, you may supplement them if you wish. Identify five criteria you think are critical to good vision statements.

Step Three:
List the five criteria you have chosen for mission and vision (5 each). This can be a bulleted list.
Justify your choices. Explain why you think these particular criteria are important.
Compare what the two lists have in common and in what ways they differ.
Assignment Expectations

Your paper will be evaluated on the following points:

Precision - Does the paper address the question(s) or task(s)?
Breadth - Is the full breadth of the subject, i.e., all the keys to the assignment, addressed?
Depth - Does the paper address all elements of the topic in sufficient depth? Does it include and apply the background readings and other background resources? Are they included as references?
Application - Are the concepts of the module appropriately applied to the subject organization?
Organization - Is the paper organized in a coherent and systematic manner? Are headings included in all papers greater than 2 pages?
Clarity - Is the writing clear and the concepts articulated properly? Are paraphrasing and synthesis of concepts the primary means of response to the questions, or are thoughts conveyed through excessive use of quotations?
Referencing (citations and references) - Does the paper use citations and quotation marks where appropriate? Are all references listed in the bibliography used and referred to via citation?

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