Starbucks’ Three Year Strategic Plan

Part 1: Executive Summary Starbucks is the world's largest coffee roaster and the world's special coffee retailer. We have enjoyed a large dividend return over the past five years. And our growth is growing. We are currently saturated in the US market, but emerging markets in developing countries offer many possibilities for growth and increased revenue. In our US market, we need to consider giving more items to the menu to complement our long-standing tradition of pleasant customers.

Since its establishment in 1971, Starbucks has become famous. Thanks to the longstanding success of Starbucks, the company grew globally. In the next five years, Starbucks will create a strategic plan after completing the HR analysis. Compensation programs, training, and job design are part of Human Resource Management and help Starbucks overcome the problems identified in the analysis and achieve strategic goals. The first year of the strategic plan involves process organization and the formation of two committees. One committee deals with three cultural human resource issues and another committee deals with three new human resource issues.

Successful companies are active in the framework of the plan. Strategic business plans are created at least three years or two years after the current budget year. The program explains the mission of the company to provide services to customers. We analyze the strengths of business and marketing and how to use them. It solves its weaknesses and ways to overcome them. Identify the target market and pricing strategy and identify and describe strategic alliances and business partners that may be essential for planned success. This plan explains the view on long-term soundness or other issues important to business viability.

The business strategy plan is described as a three-tier process. It starts with a business strategy plan, then moves to a functional plan such as marketing plan and financial plan, and ends with a specific plan for that function. For marketing, companies may have specific plans for advertising and product development. (Wells et al., 2000). Marketing communication strategy can not be separated from marketing strategy, and marketing strategy is directly related to corporate strategy. (Smith et al. 1997)

Strategic planning is a long-term plan, usually three to five years, the range is broad and developed by senior management. Strategic planning will involve enterprise and business strategy decisions The strategic decision of the enterprise is about the type of business or market. The decision on business strategy is how companies achieve a specific market. (Langfiled-Smith, 2012) Operational planning is the process of achieving strategic planning. All goals of operational planning must be linked to one or more strategic plans. Otherwise, there will be no impact on the operation plan and the company will waste time and resources. For example, if a manufacturer wishes to establish a second factory, if there is no strategic plan, the employee will spend more time on the priority of the second factory.