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Essay / Research Paper Abstract
A 4 page paper. This essay provides a brief background of each company and discusses some of the activities and strategies each uses to control costs. The essay also compares the price of coffee from each company. Bibliography lists 11 sources.
Page Count:
4 pages (~225 words per page)
File: MM12_PGsrcr.RTF
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Unformatted sample text from the term paper:
perhaps thousands, other outlets (Bramhall, 2006). Caribou Coffee was founded much more recently, in 1992 (Funding Universe, 1999). The founders actually named the company for the animal (Funding Universe, 1999).
It is only recently that Caribou is actually posing any kind of threat to Starbucks but Starbucks is still the leader in this industry. Today, Caribou has more than 440
stores across 18 states (Caribou Coffee, 2006). Starbucks overall corporate strategies include rapid expansion, aggressive marketing, human resource management, relationships and careful selection of partners. One of their
practices is to maintain a healthy cash account and carries very little debt (Rosato, 2004). One of the ways Starbucks controls costs is by maintaining that reserve. Another way is
that they always finance their new outlets from their own cash reserves and they do significant research before deciding to open another outlet (Rosato, 2004). They continually look for ways
that will allow them to improve quality and service but that will also control their costs (Rosato, 2004). For example, Starbucks innovated a prepaid card, which customers can load with
$5.00 to $500 (Cardline, 2004). The card can be automatically refilled on a monthly basis from the customers debit or charge card (Cardline, 2004). As of October 2004, there was
$1 billion on 35 million customer cards (Cardline, 2004). The company also installed automatic machines for making the coffee (Paetz, 2007). This speeds up the process of filling orders and
speed cuts costs in that it allows more cups of coffee to be served in shorter periods of time. In 2002, Starbucks shifted their emphasis on products that realize higher
profits (Maceda, Corbett and Altman, 2002). At that time, Starbucks was selling a lot of additional products, such as mugs and other merchandise and since many of these items were
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