Starbucks' strategic objectives and business goals

Starbucks Objectives

Starbucks is the ultimate leader of the coffee industry, but it has been faced with several challenges across the years. In this context of emergent difficulties, it is necessary for the organization to readdress the issue of its goals in the meaning of aligning them to the current demands. In this light of events, eight goals are identified as follows:

Maintaining and even increasing global presence, combined with efforts to further strengthen the corporate brand -- attaining this objective is crucial within the national and international markets and it sits at the basis of sustained organizational success. The company brand is a pivotal component in the organizational triumphs and expansion cannot be achieved without it. Global presence should be achieved through the opening of new stores.

Continually emphasizing on a high quality of the products sold and the store atmosphere -- this could be achieve through the signing of more deals with exclusive providers of high quality coffee beans. Additionally, it is necessary to promote the Starbucks stores as a place for the whole family and to create an atmosphere in which the youth can enjoy a coffee and log on to wireless internet, the adults can enjoy a good conversation in the company of friends and a good coffee and the children can play in the playgrounds.

3. Reduce operational costs -- this is necessary to be achieve for two important reasons. The first is the need to increase operational efficiency with the intent of increasing the profitability levels and the second reason is given by the current macroeconomic context. During this internationalized financial crisis, it is necessary for Starbucks to reduce some of its expenditure and implement a prudential approach to business.

4. Increasing market share -- Starbucks continues to be the leader of its industry but has suffered a loss in market share due to reduced demand in the context of the global financial crisis. In order to restore demand and interest for their products, they could introduce new products, cut retail prices or expand to new regions.

5. Developing joint ventures -- this endeavor could for once revolve around the identification of new coffee beans purveyors which sell high quality products and more cost effective rates. Additionally, it is possible to sign contracts with other business partners for purposes such as wireless internet connections or more contracts for franchises.

6. Overcoming the growing competition -- this is imperative for sustained success in both national as well as international markets and could be achieved through a series of strategic approaches focusing on product quality, retail prices, store ambiance or complementary products and services.