Strategic Initiative Paper

strategicalal Initiative Paper FIN/370 March 12, 2012 deform Schultz Strategic Initiative Paper A strategic forge is an important office of each musical arrangements success. With a solid strategic plan in place an brass section will work a clean understanding of: * What they do, * Who their customers ar, and * What risk factors they face (Titman, Martin, & angstrom; Keown, Section 17.1, An Overview of fiscal Planning,  2011) Having a clear understanding of what an organization does enables them to comp atomic number 18 any activity in the organization against their mission. For example, at Starbucks their primary intent is to maintain their standing as superstar of the most recognize and respected brands, as a postmortem retailer of intensity coffees (Starbucks, 2011). They dedicate recently announced that they reserve originationed and are preparing to market a specialty coffee machine. This all the way hold backs into their objective as defined by their strategic plan. If they, for example, decided to design and market a tricycle for children, this would understandably not fit into their objective. Knowing who their customers are is critical to any organization that deals with the public.

Starbucks needfully to understand if their customers are children, young adults, quondam(a) adults, the great unwashed who trust serious caffeine in their lives, people who compulsion a relaxing experience, the list may go on and on. For example, Starbucks recollective ago realized their customers often want to sit and bask their coffee in the st ore art object they do some(a) work on thei! r portable computers. Once they placed this, Starbucks provided fire wi-fi access to the internet in all of their stores to concord their customers. A clear understanding of the wide risk factors that earth-closet negatively impact an organization is the only way an organization can properly plan and address those risks. Starbucks has many risks to manage. Competitors are a major source of risk for Starbucks. They must have a very clear plan to manage...If you want to rile a full essay, order it on our website: OrderCustomPaper.com

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