Study of Starbucks business strategy 02224 Essay - 1

Study of Starbucks business strategy 02224 - Essay Example The paper will discuss in details the external and internal environment of the company so as to develop an analysis of its business strategy. Starbucks driving force has been their ability to provide a premium product mix of good quality snacks and beverages. Moreover, they have managed to outsource the best quality of coffee and its related products. Besides having the products of high quality, they have managed to ensure that each customer has a unique experience (Foroohar, 2015).Being in an industry with many competitors, their quality of customer service and company culture have enabled them win customer loyalty. The management of the company values its relationship with other parties in their line of business. The human resource management has been very influential towards maintaining strong internal and external relationships (WORLDCITY, 2014). Good relationships with suppliers have ensured actualization of their business strategies such as constant expansion and developing a good reputation (Starbucks Corporation, 2014). Good management of their labor force has ensured production of high quality products and services and timely services. Constant employee training and highly selective recruitment of new employee ensures that they have a reliable team of employees. According to a report by the Fortune magazine, Starbucks was rated as91 in the best 100 places to work in (Fortune Magazine, 2013). Starbucks has heavily invested in local expansion and globalization. According to their 2014 end year financial reports, they have managed to acquire a 36.7% market share in the United States (Starbucks Corporation, 2014).This shows that their brand is well recognized, and hence they have strong market position. The company has licensed its brands logo and thus ensuring thus solidifying their market position and brand recognition. Internationalization has helped Starbucks grow economically (Grant, 2005). Due to long term