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Business environment - Assignment Example

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Business Environment Table of Contents Task 1 4 a)i. Mission of Starbucks 4 a)ii. Practical Objectives of Starbucks 5 b)i. Comprehensive Stakeholder Map 6 b)ii. Efficiency of Starbucks in Recognising the Needs of its Stakeholders 8 c)Starbuck’s Social Responsibilities 9 Task 2 10 a)i…
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Download file to see previous pages Meaning of Perfect Competition 20 b)ii. Perfect Competition in the UK Fast Food Industry 21 c)i. Three Regulatory Mechanisms Currently in Force in the UK Fast Food Industry 22 c)ii. Compliance of Regulations by McDonald’s 23 Task 4 25 a)Role of Foreign Direct Investment (FDI) in Globalisation 25 b)Advantages and Disadvantages of Price Intervention in the EU Agricultural Sector 26 c)Benefits and Disadvantages Gained By UK Businesses from Entry into the European Monetary Union 28 References 30 Task 1 a) i. Mission of Starbucks Starbucks is recognised as one of the most famous coffee manufacturing and marketing companies. The company was established in 1971 and till date it continues with a broad distribution of channel of 1600 shops in almost 50 countries. The company has also been recognised for its significant consideration to the quality maintenance in serving its customers, partners and the community at large (Starbucks Coffee Company, 2010). In order to maintain its focus on the quality aspect along with the overall organisational development, the company considers a mission statement. This mission statement tends to direct the organisational strategies and the strategic objectives of the company as well. The mission statement developed by the company depicts its concern regarding the quality of the products’ served with due consideration to its partners’ interest and the requirements of its targeted customers. The company also concentrates on the aspect of customer satisfaction in terms of efficient services through its retail outlets and restaurants. One of the most significant aspects of the mission statement considered by Starbucks is its concern regarding the environment. It is worth mentioning that the mission statement of the company reflects that Starbucks implement environment friendly strategies in its supply chain management to a significant level (Starbucks Corporation, 2011). a) ii. Practical Objectives of Starbucks Considering the defined mission statement, Starbucks has determined its objectives for the current fiscal year 2011-2012 as follows. To attain a profitable growth in the international industry To emerge as a leader in the single-cup coffee product segment To expand its customer base and its market share globally To accelerate the growth in the retail segment of the company in the US To attain stimulated growth in the Chinese market To be more focussed on the partners interest To repay the community through efficient service (Starbucks Corporation, 2010) It can be apparently witnessed from the above description of Starbucks’ mission and objectives that a rational link exists between the organisational objectives and its mission. b) i. Comprehensive Stakeholder Map Stakeholders have emerged to be one of the significant facets of the modern day phenomenon of business management. Stakeholders are often defined as “persons, groups, neighbourhoods, organizations, institutions, societies, and even the natural environment are generally thought to qualify as actual or potential stakeholders” (Mitchel & Et. Al., 1997). Based on this definition, the stakeholders of Starbucks can be identified as follows: Employees Business Partners Customers Suppliers Shareholders Community members (Starbucks Corpor ...Download file to see next pagesRead More
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