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Essay / Research Paper Abstract
This 4 page paper reviews and critiques an article looking at the way Starbucks turned its ailing fortunes in 2011, discussing some of the strategies adopted, comparing the firm to GM and Whole Foods. The financial aspects of the change are considered. The bibliography cites 5 sources.
Page Count:
4 pages (~225 words per page)
File: TS65_TE2011changesb.doc
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Unformatted sample text from the term paper:
GM had faced bankruptcy, which forced it to change becoming a learner more efficient competitor, rationalizing operations and product lines and expanding into Asia (Motavalli, 2012). Whole Foods suffered as
a result of high prices when the recession hit as well as adopting some political stances which alienated customers, the firm recovered in 2011 by cost cutting and changing strategy
to focus on lower cost items and healthy foods. The largest segment of the article looks at Starbucks (Motavalli, 2012). The firm started to suffer in late 2007 with
declining sales and a lack of inspired leadership without Howard Schultz at the helm (Motavalli, 2012). The firm became a target for other competitors, such as McDonalds with their
gourmet coffee and adverts that $4 is Dumb (Motavalli, 2012). By the last quarter of 2008 profits had declined by 97% (Motavalli, 2012). The recession had an impact, which was
exacerbated by the preceding strategies, including over enthusiastic store openings.. The measures adopted for the recovery following the return of Schultz in 2008 included closing 600 underperforming stores, the shedding
of 6,700 jobs as well developing new products and increasing the expansion into Asia with particular attention to the Chinese market (Motavalli, 2012). By the second quarter of 2010 the
profits had increased eightfold (Motavalli, 2012). Continued recovery has been aided by the acquisition of Evolution Fresh which would help with a related diversification strategy. The changes were seen as
preserving the core values of the firm while adapting to meet the changing consumer environment. When looking at the review of the strategies adopted there are references to problems
and issues which are present in business theories, but which Starbucks appeared to ignore. The ongoing growth strategy was undertaken with the acceptance of cannibalization, Kotler and Keller (2008) warn
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