INTRODUCTION TO BUSINESS AND MANAGEMENT Essay Example | Topics and Well Written Essays - 1500 words

INTRODUCTION TO BUSINESS AND MANAGEMENT - Essay Example19). assailable to its wide market network, high quality of its products, and the diversity of its products, Starbucks enjoys a magnificent customer base in the coffee other blend- drinks industry. In the report, the paper identifies the stakeholders groups of the federation, its refer competitors, and an analysis of its current strategy. The paper will in like manner derive some recommendations on the companys current strategy. Findings Starbucks Stakeholder Groups Starbucks stakeholders groups refer to persons, groups, or organization that has reside or concern in the company. The companys stakeholders fall into three categories, which include primary stakeholders, secondary stakeholders, and public stakeholders (Bruhn-Hansen, 2012, p. 19). They specifically entail the shareholders who invented in the companys shares, customers who purchase the companys products and employees who work for the company across the domain. Th e stakeholders also include the suppliers who provide raw materials to the company and farmers who produce coffee and good from the comprehensive programs that the company initiates to help farmers. Recently, families residing within the Silver Spring, Maryland community with children aged five and under became stakeholders. Governments and government agencies in countries where the Starbucks Company operates are also stakeholders in the company (Bruhn-Hansen, 2012, p. 19). Moreover, non-governmental organizations, which partner with Starbucks Company like Conservation International and Ecologic Enterprise Ventures are also stakeholders of the company. Additionally, all the communities that benefit from the companys corporate social responsibility are stakeholders of Starbucks Company. Ultimately, franchisees that purchase the right to use the companys trademarks, related brands, and proprietary knowledge for purposes of opening branches across the adult male also form part of Sta rbucks stakeholders. Starbucks Key Competitors Starbucks has close competitors in specialty coffee shops, doughnut shops, and quick service restaurants. Indeed, the completion comes from different sectors across the world thus demeaning the companys market share. Caribou Coffee, which is specialty coffeehouse with 415 stores in the US, is one of the closest competitors of Starbucks Company. Second Cup which is a Canadian franchiser dealing in coffee is also a significant competitor alongside Java Centrale. Another major competitor is the privately owned Dunkin Donuts, which has virtually 5,000 stores in the U.S dealing with both doughnuts and coffee. Nestle S.A, which is a Swiss multinational food and Beverage Company and the largest food company in the world in terms of revenues offers great competition to Starbucks market share. Additionally we also have Darden Restaurants, Inc., which are a multi-brand restaurant operatorand Yum Brands, Inc., Another worthy competitor is the McD onald, which is actually the worlds largest fast-food chain restaurant (Mourdoukoutas, 2013, p. 1). McDonalds sells its products at a relatively lower price than Starbucks Company thus offering price competition. Indeed, since its upgrade in 2006, McDonalds is becoming an emerging competitor. More so, Paneras Bread, which offers ambiance of casual dining, is also a competitor of Starbucks Company. Starbucks Company Current Strategy Starbucks adopts various