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Economic Factors Affecting Starbucks

In: Business and Management

Submitted By Denzeltan
Words 1169
Pages 5
Principle of Management
Assignment 2
Introduction, brief description and core operation.
Starbucks started its humble beginning at a small little shop front down by Pike place market in Seattle. It had pride itself for roasting high quality whole-bean coffee, and producing one of the best coffees in the neighborhood. Today, more than forty years later, Starbucks had become one of the major coffee chains in the world with more than 18,000 storewide in 62 countries.
Starbucks main core operations derive from the sale of their beverages, retail and franchise operation; it also aims to provide the Starbuck’s experience. As stated on Starbuck’s mission statement, “Our mission: to inspire and nurture the human spirit – one person, one cup and one neighborhood at a time”. This statement shows that Starbucks is not just creating a business based on its product and services, it also aim to build a closer connection with their customers through a “people to people” approach. By creating the Starbucks experience with the customers, it enables them to provide an even better service to attract and retain its customer’s loyalty.
Economic/Global impact
Coffee beans and coffee beverage is made up the main core business that Starbucks operates on, with coffee bean as the second highest valuable commodity in market, it means that any economic factors might affect the costing of the coffee beans, which might result in price hike for their beverages.
External

Opportunities and Threats
Threats
Currency Fluctuation.
The U.S., being one of the world’s biggest economies was badly hit during the 2008 financial crisis; it had caused great shift and movement in other countries’ economy as well. Stock markets became bearish, raise in unemployment rates and the increase in the inflation rate had also further led to…...

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