Strategic Initiative Paper
In the current business environment, companies must take strategic initiatives to prevent the losses and overcome the rough economy we are currently facing. Starbucks Corporation (furthermore, Starbucks) is known as one of the leaders for the retail sales of roasted and specialty coffee. Starbucks is focused on creating a detailed strategic and financial planning that can take the company to the next level. The aim of this paper is to investigate Starbucks’s actions upon creation of strategic and financial plans, and its impact on cost and sales and risks associated. Starbucks has a long-standing effort in ethical conduct and global responsibility. One of the major efforts is sourcing ethically grown coffee. For example, Starbucks’ Annual Report for the 2009 states that “the Company’s focus is on ethically sourcing high-quality coffee, reducing its environmental impacts, and contributing positively to communities. Starbucks Global Responsibility strategy and commitments are integral to the Company’s business strategy.” (Starbucks Corporation, 2009, Annual Report). The strategic plan includes the Shared Planet initiative. Starbucks has commenced plans to make environmental transformations to the company’s business practices through the Shared Planet. These changes include buying ethically traded coffee, which encompasses environmentally responsible grown coffee and the ethical treatment of coffee farmers. Starbucks collaborates with Conservation International to ensure that the company is meeting purchasing guidelines for socially, environmentally, and economically responsible coffee. Starbucks’ Shared Planet also embraces conservation of the growers’ surrounding communities. For example, Starbucks is committed to creating environmentally clean water filter systems in the communities that the coffee is grown. The company has also committed to recycling and reducing waste. Starbucks Initiative Plan states that by the year 2015,
References: Morran, C. (2010), Starbucks Says Rising Cost Of Coffee Beans Won 't Mean Higher Prices For You, The Consumerist Starbucks Corporation (2009), Annual Report Starbucks Corporation, 2008, Annual Report Starbucks Corporation, 2008, Global Responsibility Report Starbucks Corporation, 2006, Investor Relations Starbucks Corporation, 2006, Investor Relations Starbucks Corporation, 2008, Investor Relations Starbucks Corporation, 2010, Mission Statement Starbucks Corporation. (2010). Starbucks coffe company. Retrieved from http://www.starbucks.com/responsibility