Assignment: Tourism Management
Requirement: My topic is Starbucks
1. Introduce briefly the defining characteristics of the firm, unique background and philosophy of the company, including briefhistory, some of its outstanding qualities, past successes, failures, and products or services. What business they are in, and what in their environment (internal and external) is creating a need for a new strategic plan. Also briefly discuss your plans objectives.
2. Conduct an external and internal analysis of the company. This is essentially a SWOT analysis. Remember, in SWOT, Strengths and Weaknesses are INTERNAL, and Opportunities and Threats are EXTERNAL. For the External analysis, include a broad environment analysis, an industry analysis and an examination of key external stakeholders. Focus on current and future influential trends and factors that will shape the company's future strategic direction. Please note that this section should focus on analyzing significant external factors that you believe will determine the company' s future strategies. In- depth analysis of each external factor is expected to support your recommendations of strategic direction. This section should NOT be a list of the company's current practices or accomplishments. And it should NOT be a comprehensive list of all possible external factors that has little to do with your future strategic directions. For the Internal analysis, include an analysis of resources and capabilities, such as operations, marketing, and/or finance. Please note that this section should focus on analyzing significant internal factors that will have impact on the company's future strategies. In-depth analysis of each significant internal factorisexpected. It is suggested you identify 4-5 of each SWOT component, i.e. 4 Strengths, 4 Weaknesses, etc. This will aid you in your development of strategies for component 4.
3. Explain what the company's overall corporate, business, and functional strategies (where appropriate) are and explain the company's current overall strategic direction. Discuss and evaluate the strategic problems and challenges that the company currently face with these strategies. Publicly traded companies list their strategies on their websites and in their SEC financial reports. It is recommended that you discuss at least 3 of the company's' current strategies.
4. Some conclusions should emerge from your analysis. Based on your conclusions, you should provide specific tactical and strategic recommendations for the company. You should provide suggestions about potential challenges and barriers when implementing such recommendations. This should include at least 3 strategic recommendations for your company based on the SWOT analysis and current strategic direction of the company. These should NOT be the same as current strategies the firm is utilizing.
Format your assignment according to the following formatting requirements:
1. The answer should be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides.
2. The response also includes a cover page containing the title of the assignment, the student's name, the course title, and the date. The cover page is not included in the required page length.
3. Also include a reference page. The Citations and references should follow APA format. The reference page is not included in the required page length.