Starbucks Strategy Selection, Implementation and Evaluation

Introduction
(The Introduction paragraph is the first paragraph of the paper and will describe to the reader the intent of the paper, explaining the main points covered in the paper. This intent should be understood before reading the remainder of the paper so the reader knows exactly what is being covered in the paper. Therefore, write the introduction last to ensure all of the main points are covered.)
Alternative Strategy Generation
To generate a pool of strategies, you will look at the organization’s business-level strategy, corporate-level strategy, and global strategy. Then, using the information and data collected from your research and the analytical outcomes from (a) external factor analysis in your Project 1 and (b) internal factor analysis in Project 2, you will generate a pool of strategies.
Generate a minimum of three possible alternative strategies for the company.
Identify and discuss cultural and organizational factors that should be considered in analyzing and choosing among the alternative strategies.
Strategy Prioritization
Prioritize strategies and explain using the course material to support the reasoning – Use the tools learned in the course.
Strategy Selection
Your strategy selection will be based on the use of the Quantitative Strategic Planning Matrix (QSPM). The QSPM produces a composite analysis. A composite analysis is one in which you will bring in a combination of relevant factors from the various analyses (EFE Matrix, IFE matrix, CPM matrix, SWOT, Grand Strategy Matrix, and QSPM). The QSPM is a tool that helps determine the relative attractiveness of feasible alternative strategies based on the external and internal key success factors.
Develop a Quantitative Strategic Planning Matrix (QSPM) analysis.
Discuss the value of a QSPM analysis for strategy selection. Be specific.
Strategy Implementation
Recommend procedures for strategy implementation.
Discuss who, what and how to implement the selected strategy or strategies at the corporate level, business-unit level, and functional level.
Strategy Evaluation
Use frameworks and tools discussed throughout the course. Support the reasoning and conclusions made.
Discuss procedures for strategy review and evaluation
Discuss the appropriate evaluative measures (including who, what, when, and how at the corporate level, business-unit level, and functional level)
Discuss a corrective action plan (including who, what, when, and how) at the corporate, business unit, and functional levels.
Conclusion
Create a conclusion. The Conclusion is intended to emphasize the purpose/significance of the analysis, emphasize the significance/consequence of findings, and indicate the wider applications derived from the main points of the project’s requirements. Finally, you will conclude the findings of the external environment analysis.

Sample Solution

Possible strategies for Starbucks, along with their implementation and evaluation:

Strategy 1: Expand into new markets. Starbucks could expand into new markets, both domestically and internationally. This would allow them to reach new customers and grow their business. To implement this strategy, Starbucks would need to do market research to identify new markets that are attractive and feasible. They would also need to develop a marketing plan to reach new customers in these markets.

Strategy 2: Develop new products and services. Starbucks could develop new products and services to attract new customers and grow their business. This could include new coffee drinks, food items, or merchandise. To implement this strategy, Starbucks would need to conduct research to identify new products and services that are in demand. They would also need to develop a marketing plan to launch these new products and services.

Strategy 3: Improve customer service. Starbucks could improve their customer service to attract new customers and retain existing ones. This could include providing better training for employees, creating a more welcoming environment in stores, and offering more convenient ways to order and pay. To implement this strategy, Starbucks would need to assess their current customer service practices and identify areas for improvement. They would then need to develop and implement a plan to improve their customer service.

Implementation

The implementation of any of these strategies would require a number of steps. These steps would vary depending on the specific strategy, but they would generally include the following:

Developing a plan for implementing the strategy.
Assigning responsibility for implementing the strategy.
Providing training and resources to those responsible for implementing the strategy.
Monitoring the implementation of the strategy and making adjustments as needed.

Evaluation

The success of any strategy can be evaluated by tracking its progress and measuring its results. This can be done by tracking metrics such as sales, customer satisfaction, and market share. By tracking these metrics, Starbucks can determine whether the strategy is meeting its objectives and make adjustments as needed.

Conclusion

These are just a few possible strategies that Starbucks could pursue. The best strategy for Starbucks will depend on a number of factors, including the company’s current situation, its goals, and the external environment. By carefully considering these factors, Starbucks can choose a strategy that is most likely to be successful.

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Starbucks Strategy Selection, Implementation and Evaluation

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