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Key Products and Services: The company has several products such as high quality roasted coffee, tea and cocoa. In fact, it makes extraordinary coffee that is known globally, thus attracts potential users. Additionally, the company sells sourced tea and cocoa in its outlets. On the other hand, the services mainly consist of the attention to the customers’ needs and demands. The workers are friendly and respond to the customers promptly to make sure that they meet the clients’ requirements. In essence, customer service is one of the important issues that the employees take seriously to attract potential clients and attract new ones. The company’s customer service is excellent and many of the clients keep on visiting the various chains of coffee outlets that the corporation runs. In order to make sure that the services are executed properly in the organization, issues such as decision making, culture and communication are prioritized as the key pillars of success. In this regard, the leaders must, at all times, promote integrity while offering the services. Success at Starbucks Corporation is directly attributed to, high quality products, effective service delivery, efficient communication, and practical leadership. This has created transparency in the organization because the communication channels are sound and solid.
Key Customers: Mostly, the coffee and tea drinks dominate this industry globally with premium qualities for different categories of customers. Therefore, some of the key customers include individual, family and corporate clients who intend to take breakfast or just stop for a refreshing coffee drink at one of the company outlets. Since the company falls under the hot drink industry, its products comprises of all coffee drink and tea outlets worldwide, attracting many customers. As the customers’ demands increased, the company also made changes in its production and administrative strategies to increase its relevance among its potential clients. It is one of the largest coffee drink outlets in the country and its environs, thus serves many people. Moreover, as a global corporation, it has several branches in other countries and it serves different customers with several products. In company, most of its stores are between 1,000 and 1,500 square feet, large enough to accommodate the available facilities.
Forms of Business Ownership: corporation.
Initially, the business was started and managed by an individual. However, with its growth and development, it became a legal entity that was separate from the proprietor and his partners. Once legal, the person who composed the business might not have much control over its affairs, but the operations should be guided by law, thus the name a corporation. In additions, corporations are managed professionally and within the legal framework as opposed to the situation in sole proprietorships.
Key Competitive Advantages: The firm is unique and competitive compared to other firms in the industry because of several issues. Some of the key competitive advantages may include brand name, financial strength, high quality products and services.
Regarding the brand name, the corporation has coined a niche in the global market, thus making it very competitive compared to the others. For instance, since the company is operated in a chain of coffee shops in various locations across the United States, the United Kingdom and Canada, it commands the market and beverage industry. The name gives it a competitive advantage over other coffee outlets, because many customers identify the company products right from its name. This means that the company has built a brand in the coffee sector of the economy and enjoys monopoly in the local and global market. In addition, its numerous outlets show that the consumers have the freedom to select from a range of coffee drinks and products served at Starbucks restaurants. The other competitive advantage of the company is the development of a strong website that the company uses to advertise its products to potential consumer. Generally, the website is designed to give relevant information about the drinks, outlets and other products that it sells.
Moreover, high quality products that the company sells and its health concerns about the people in the developed nations have created an unending opportunity for the company, giving it a competitive edge over its competitors. Basically, such concern shapes the buyer’s behavior and promotes the company’s growth in the industry, thereby increasing its competitiveness. Certainly, the involvement of the company in corporate social responsibility is also seen as an opportunity for growth.
Concerning the company’s financial strength, its liquidity has improved significantly making it capable of paying employees well. In addition, the company has financed its expansion, marketing strategies, research, and development. Its financial strength and sound leadership made it known as the ethical company in the world.
High Quality Products and Services
The company has made tremendous development in improving the quality of its products and services. For instance, it attracted competent, skilled and experienced employees who did whatever it could take to create high quality products and render better services, which enhance the company’s reputation. The production of premium qualities increased the company’s competitiveness in the local and global market. Starbucks Corporation is one of the global successful companies producing higher quality products and listed in the New York Stock exchange, one desires more and seeks to establish the cause of its achievement, products, services, leadership styles, and structures. With its long existence in business, the company has created a stable base to help it manufacture quality coffee products, which serve the customers’ interests.