It is suggested that you choose a company that you are interested in or would like to work for. It is critical that you gain a solid understanding of the industry that your chosen company operates in to ensure you present a well-informed business strategy for your product/service launch. Task:, You will be required to complete each of the following tasks to develop a workbook of your chosen company. As well as the templates provided you should address the following: ..Company Background; explain what the company does and sells. Include some background knowledge of the compel% and a picture of their logo and website. 200-
. Stakeholder analysis — who has a vested interest in the product and its success. Consider both internal and external stakeholders
. Step 1— create am mind map of all your stakeholders. Put your company in the middle and work outwards . Step 2 — complete the stakeholder analysis chart Step 3 —Write 100- :words explaining the information found in the stakeholder analysis chart
..PESTEL— identify the political, economic, social, technological, environmental and legal aspects that a business must consider. This can be done using the template prodded. Write 100-' words explaining the PESTEL
Business Analysis: Starbucks
Starbucks Corporation was established in 1985 and it is currently operating in more than 75 countries. This is an organization that was established and registered in the United States of America. It is estimated that the total number of stores owned by Starbucks is around 3000 all around the world. This organization is roaster, marketer, and retailer of coffee and over a period of time, it has become very popular among customers. One of the primary value proposition of this organization is the quality of coffee that is used by them (Hossain and Islam, 2015). In addition to that frequent innovation in product and services offered to customers is also an important factor that contributed to the success of this organization.
Stakeholder management register that will be useful for Starbucks is as follows-
|Stakeholders||Interest||Power||What do we do with them|
|Employees||Employees of the organization are interested as they are required to be paid salaries and commission on a regular basis and there in direct contact with customers.||Medium||Leadership and motivation strategy should be adopted for increasing the efficiency of employees|
|Customers||These are the final users of a product and services offered by the company and they expect to receive product and services in accordance with the price charged.||High||A quality management strategy should be adopted for maintaining the effective quality of product and services.|
|Government||They expect to receive regular returns and tax on income generated by the company.||High||Payment of tax and other legal formalities should be completed within stipulated time.|
|Investors||Investors expect to receive proper returns on their investment.||Medium||Financial performance of the company should be communicated effectively with the help of financial statements.|
Level of competition in the industry of roasting, marketing and retailing of coffee is very high in the United States of America. There are some business organizations that are in direct competition with the company such as a Costa Coffee. In addition to that the majority of fast food chains such as the Dunkin doughnuts Mcdonalds, KFC, etc. are also providing coffee at their stores which increases the level of competition (Van den Hurk, 2014). It can be said that the level of competition is very high and it is important to maintain quality at a competitive price.