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Intro to business - Research Paper Example

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One business that keeps going in all conditions and stays on even during political disturbances, economic slowdown or other unfavorable conditions is the food and beverage industry. Although their sales and production may show slightly low, they do not reach a state of close…
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Intro to business
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Intro to business

Download file to see previous pages... spending i.e., food and beverages, and recorded a steady growth; in a way it invented a new market structure through its monopolistic structure, a thorough competitive activity, industry costs and capital structure, all achieved through a systematic approach and healthy business practices.
Its journey from Seattle to other parts of the United States and then rest of the world is said to have begun in the 1990s (Starbucks Coffee Company, par.1). Although Starbucks’ main products include a variety of coffee, they also provide food services within the same outlets. Their main business objectives include production of high quality product, aim for customer delight, ensuring utmost employee satisfaction and strategic business performance. Operating in multiple locations across the globe requires a great deal of effort, excellent team of executives and an effective leadership. Starbucks’ leaders infused this culture into every employee through healthy management practices such as team working, training, empowerment of employees, alignment to the mission and vision of Starbucks, appropriate performance measurement and feedback system. From a business perspective, their supply chain network is highly established and well managed through practices such as Coffee and Farmer Equity (C.A.F.E ) program, supplier certification, and robust product evaluation mechanisms. It also abides by all the social, legal, ethical responsibilities towards environment and State through appropriate practices (Starbucks Corporation, p.22). Starbucks has laid much stress on continuous improvement, which includes a continuous identification of areas of improvement; taking up these areas as opportunities to perform better and has successfully implemented Total Quality Management (TQM) system in all sectors (Starbucks Corporation, p.11).
The advantages of such business include potential to attract more customers, continuous revenue generation, increasing popularity and can attract best ...Download file to see next pagesRead More
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