question archive write 600 words with min 2-3 peer reviewed references "Zooming In" Activity 6: Starbucks page 437 - Part 1 Answer critical thinking
write 600 words with min 2-3 peer reviewed references "Zooming In" Activity 6: Starbucks page 437 - Part 1 Answer critical thinking
Subject:BusinessPrice: Bought3
write 600 words with min 2-3 peer reviewed references
"Zooming In" Activity 6: Starbucks page 437 - Part 1
Answer critical thinking.
Critical Thinking
• Howard Schultz is betting on constant reinvention of his company. He said, “Innovation is in our DNA.”12 What kind of information should Starbucks gather to help it decide whether and how to introduce a new product to avoid pitfalls such as the failed Sorbetto beverage?
• How could Howard Schultz test his assumption that the intimate communal coffee-drinking experience is intact at Starbucks?
• How can collected information be transmitted to Starbucks’ decision makers?
Guffey, Mary Ellen; Loewy, Dana. Business Communication: Process & Product (p. 437). Cengage Learning. Kindle Edition.
Your submission must be double-spaced with uniform 1-inch margins and using 12-point Times New Roman font.
Please refer below article and reference inorder to answer this questions
Material:
Business Communication: Process & Product (9th Edition) by Guffey and Loewy (ISBN-13: 9781305957961) Publication Manual of the American Psychological Association (7th Edition) (ISBN-13: 9781433832161)
Starbucks: Innovate or Die! The Global Chain That Wants to Remain Local Amid fierce global competition, Starbucks is reinventing itself with innovative store concepts, constant expansion, and new beverages. The company continues to reign as the world’s largest coffee shop chain by number of outlets and revenue, having soared to more than 24,000 retail locations in 70 countries.1 The specialty coffee roaster and retailer has bolstered its presence in China, its second-largest and fastest-growing market.2 The company has also entered India, a traditionally tea-loving country. In its own words, Starbucks set out to be “a different kind of company”3 by providing a unique experience to customers and trying to create a connection “one person, one cup, and one neighborhood at a time.”4 Yet the global behemoth serves a whopping 60 million customers a week and employs almost 240,000 people.5 With annual sales of $20.2 billion and a market capitalization of $85.3 billion, the company is “firing on all cylinders,” according to The Wall Street Journal, even when its stock dips, as it has lately.6 Adding to its accolades, Starbucks consistently ranks among the top ten in the Fortune magazine list of the World’s Most Admired Companies. It is known for its social responsibility initiatives such as fair-trade coffee sourcing, energy conservation, farmer loans, and ethical employment practices. Moreover, the retailer is regularly named among the top 100 on the Forbes list of America’s Best Employers, not least because Starbucks gives health insurance and stock options to all employees, whom it calls partners.7 Howard Schultz successfully bucked traditional retail wisdom, for example, by locating stores so densely together that they cannibalized each other’s sales. The New York metro area alone has 430 locations.8 Schultz famously relied on his entrepreneurial instinct and scorned conventional market research. Although he is one of the most admired corporate executives of our time, Howard Schultz suffered a few flops, too. His headlong introduction of Sorbetto failed miserably, and Starbucks had to abandon the sugary beverage.9 The company also has had mixed results with its music and film offerings. Moreover, Schultz admitted that he misread the depth of the Great Recession and its impact on his business. However, he scored a winner with Via, Starbucks’ instant coffee, because this time he embraced focus groups and listened to his executives, who advocated a slow, methodical introduction. The CEO’s latest promising ventures are the opening of the coffee chain’s first store in South Africa10 and a foray into a new high-end ready-made chilled coffee as iced coffee is booming in the United States.11 The company is expanding its mobile ordering and payment options and tweaking a new customer loyalty rewards system. You will learn more about Starbucks and be asked to complete a relevant task later in this chapter.
