stratigic managemen - sim336

8/11/2019 Stratigic Managemen - SIM336

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TABLE OF CONTENT

EXECUTIVE SUMMARY ............................................................................................................ 2

INTRODUCTION .......................................................................................................................... 3

PART 1: CLASSICAL PERSPECTIVE. .................................................................................... 4

I. WHERE IS STARBUCKS NOW?The current position. ............................................. 4

II. WHERE DO STARBUCKS WANT TO BE?Organization goals. .............................. 7

III. HOW DO STARBUCKS GET THERE?Strategic options. ..................................... 9

PART 2: RECOMMENDATION ............................................................................................. 12

CONCLUSION ............................................................................................................................. 14APPENDIX ................................................................................................................................... 15

REFERENCES ............................................................................................................................. 20


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EXECUTIVE SUMMARY

This report analyse strategic management about Starbucks Corporation which the

largest coffeehouse company in the world. In case of Vietnamese market, we will look at ideas of

organizational mission and vision, current situation, strategic implementation. So the classical

perspective was selected as a viewpoint to consider how Starbucks operate strategic

management. In addition, classical strategy is often posed as follows:

- Where are we now?

- Where do we want to be?

- How will we get there?

There are three aspects of this strategy formulation problem. Therefore, we will carry out an

analysis of each aspect in order to understand how well it serves an organization as Starbucks

within its competitive environment.


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INTRODUCTION

Starbucks was established in Seattle, USA in 1971. Starbucks Coffee Company is one of the

leading retailers, roasters and brands of specialty coffee in the world. It is committed to offering

customers the highest quality coffee and the finest coffee experience. In 1987, together with local

investors, Schultz bought Starbucks and established the Starbucks Corporation. The expansion

quickly spread, and by end of fiscal year 2012, Starbucks reported a total of 20,891 stores in 62

countries among which were the United States, Japan, Germany, Spain, United Kingdom,

Canada, Singapore, Taiwan, Malaysia, China, and Korea.

In February, Starbucks opened its first store in Ho Chi Minh City. Vietnam just became

number 62 in terms of countries Starbucks is operating in and number 12 in terms of Starbucks

operation in the Asia Pacific region. This report will focus on strategic management in context of

Starbucks penetrate into Vietnam.


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PART 1: CLASSICAL PERSPECTIVE.

I. WHERE IS STARBUCKS NOW?The current position.

According to UoS (2004), in the classical perspective, the key point for successful strategy is

deeply understanding of the current position of Starbucks in its environment. To answer this

question, the useful tools come from classical perspective are the SWOT, value chain and five

forces.

In case of Starbucks, value chain and five forces undertake a comprehensive analysis of the

organizations internal and external factor. So it could be summarized in SWOT analysis. (See

appendix 1 & 2)

Following businessnewsdaily (2013), a SWOT analysis was originally developed for

business context in order to identifying the positive and negative influencing factors internal and

external of Starbucks. Moreover, SWOT is representative for Strengths, Weaknesses,

Opportunities and Threats. Moreover, it can be understand clearly the SWOT analysis of

Starbucks in Vietnam has been described below:

Internal

Strength Weakness

-

Presence and size in the global market.- Annual revenues of more than $10

billion.

- Brand recognition and popularity.

- Late comer to the Vietnamese

market.- Difference in taste of Starbucks

coffee vs. traditional Vietnamese

coffee.

-

High-price products.

External

Opportunities Threats

- Vietnam is a growing and dynamic

market (rapid growth and

development).

- Emerging middle class greater spending

power.

- Large youth population

- Strong demand for branded products

- Intense competition:

Saturated market.

Difficult to gain market share.

- Vietnam is socialist country with

the differences in political and legal

system.


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To begin with, Starbucks understood clearly their Strengths as the positive attributes before

entering Vietnamese market. So they are within control and can be based on as a basis for

developing a competitive advantage. According to Fortune, Starbucks has been ranked 8thas the

worlds most admired companies. There is a strong brand reputation associated with quality

coffee and excellent customer service. In addition, Starbucks also have a huge number of

financial resources. In 2012, the total revenues of Starbucks accounted $13,29 billion. Starbucks

profitability has been rising for the past few years and is now 14%. Besides, Starbucks also has

others intangible and tangible strength as human, physical resources.

Source: Niesel (2012)

Besides, Weakness is aspects of Starbucks that detract from the value they offer or place at a

competitive disadvantage. In Vietnam, Starbucks has just entered in February, 2013. Although

they can be strong brand in global, but there are differences between Starbucks products and

Vietnamese taste. Therefore, it takes time to build up strong relationship with local consumer. In

addition, Starbucks offers great coffee and customer experience but that results in high price of

its products. Meanwhile, Trung Nguyen premium coffee was price lower than Starbucks coffee

and was better evaluated. So Starbucks need to improve these areas in order to accomplish their

objectives or compete with their competitors.

Vietnams coffee market share


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On the other hand, Opportunities and Threats are external factors which influenced and

affected to Starbucks. Therefore, external factors typically reference things Starbucks does not

control such as: market trends, demographics or economic trends. Furthermore, an opportunity of

Starbucks is Vietnamese have "culture" coffee for a long time, and young generation division is

adaptable to new trends and modern. In fact, coffee consumption in Vietnam has increased 65

percent over the past three years. So it is important to Starbucks operate Vietnam's market chain

management capacity in effective way.

Lastly, they also have to deal with Threats along with opportunities in Vietnam market.

Vietnamese coffee markets in the developed economies are already saturated and with

intensifying competition, Starbucks will find it hard to grow in these markets. For instance, there

is strong competition from the rivals such as: Trung Nguyen, Highlands Coffee, Nestl, and so

on. So these brands offer much lower price and more suited menu for its customer. Vietnamese

drink either hot or with ice and usually costs between 10,000 30,000 VND (US$0.50

US$1.50), depending on which city they are in. Moreover they are consuming the coffee inside a

caf or on street sidewalks. In both situations, Starbucks experiences intense competition and

loses market share. Besides, American companies like Starbucks cannot count on Vietnams rule

of law or enforcement of legal contract. A corruption occurs at all levels of governments.

In summary, a SWOT analysis identifies Strengths, Weaknesses, Opportunities and Threats

in order to assist Starbucks in making strategic plans and decisions. This will be most helpful to

support the vision, mission, and objectives which Starbucks have already defined. Moreover, a

combination should be made between the internal factors, strengths and weaknesses of Starbuck,

and the external factors, opportunities and threats. As a result, an effort can be made to exploit

opportunities and overcome weaknesses and at the same time for Starbucks to protect itself from

the threats of the external environment. In addition, Starbucks has a strong brand reputation

associated with quality coffee and excellent customer service which is strength; meanwhile,

Vietnamese are favorable to foreign products. So it is impossible to Starbuck penetrate into

Vietnam market and develop in long-term.


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II. WHERE DO STARBUCKS WANT TO BE?Organization goals.

According to Simon (2004), organizational goals, or course of action as emerging from a

whole series of constraints imposed by the roles or functions that are enacted within the business.

So these goals are to spread throughout the whole corporation as a direction for their business.

To start with, Starbucks Mission and Vision Statement: "To inspire and nurture the human

spirit one person, one cup and one neighborhood at a time." Starbucks has a unique style of

combining both Mission Statement and Vision Statement together. However, the main content of

Starbucks is still clear, concise, and direct for the target audience. Starbucks combine Mission

and Vision statement can be broken down into six key elements which are the followings:

Firstly, vision statement is an aspirational description of what Starbucks would like to do

business in the long-term. Howard Schultz, chairman and chief global strategist, Starbucks

Coffee Company, shared his vision for Starbucks continued international development, they are

poised to seize the enormous global opportunity for Starbucks and create one of the most

recognized and respected brands in the world. So it can be seen clearly at a time when Starbucks

proposed to open the first store in Vietnam which is the worlds second largest coffee producer

after Brazil. Besides, Starbucks has been re-organizing its business to focus on the Asia Pacific

region, the biggest growth market for the company. It currently has over 3,300 stores in China

and Asia Pacific region. It should be noted that Starbucks has a wise move when entering

Partners

StoresShareholder

Neighborhood

Customer

Coffee


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Vietnam market as a step to seek and source high-quality Arabica coffee supply from the

Vietnam region over the long-term. It will introduce customers globally to the rich Vietnamese

coffee heritage. Moreover, Starbucks has opened first store in Ho Chi Minh City, where most of

the big consumer food brands have made their presence when penetrating the Vietnamese

market. The Vietnamese peoples high sensitivity to the new things and the overly high

enthusiasm of the mass media has both helped promote the US Starbucks brand in Vietnam. It

can be said that Starbucks has succeeded in the first step to enter Vietnams market.

Secondly, the Starbucks mission statement is more than words on a piece of paper its the

philosophy that guides how they do business every day. At the beginning, the US-based

company would operate Starbucks stores in Vietnam via its long-term franchise relationship with

Coffee Concept Vietnam, a subsidiary of Hong Kong Maxims Group. They will be the licensed

for operating Starbucks stores in Vietnam. As a partner, Coffee Concept Vietnam was offered

delivering the Starbucks to customers, and maximizing the growth potential of the Starbucks

brand in Vietnam. So, there is a good decision due to Maxims Group has experience in

managing 130 stores in Hong Kong and China. Besides, their business strategy make Starbucks

stores the third destination for local people, after their home and office.

In balance, if Starbucks success in strategy development which open 5 stores per year in the

first 2 years, they can use strong brands to impose rule on the market. But in fact, existing local

coffee store chains such as Trung Nguyen and Highlands Coffee is still growing well while the

number of foreign brands is not high. Therefore, it is too soon to say whether Starbucks will

succeed in competing with Vietnams traditional coffee shops or not.


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III. HOW DO STARBUCKS GET THERE?Strategic options.

According to UoS (2004), once the firm has some idea of its position with respect to its

industry or market can begin to trace its route towards its goals.

In addition, based on the summary of SWOT analysis, Starbucks has defined their position

when they entered Vietnamese market. In fact, Vietnam is a new market which is different in

culture with other countries in Asian area. Besides, Starbucks brought their original coffee into

Vietnam. It can be seen easily that they selected market development strategies in Ansoff

Matrix (1968) at the beginning. (See appendix 3)

1. Generic strategic options.

a. Franchising:

As a new entrant, Starbucks licensed Hong Kong Maxims Group as a franchisor to operate

Starbucks stores in the Vietnamese market. In addition, Vietnam has a long and distinctive coffee

culture. However, Starbucks Coffee seems to take cautious steps with its business plan in

Vietnam. Unlike other fast food brands, Starbucks Coffee does not intend to enter Vietnam

through the franchising, but it would team up with a Vietnamese partner to set up a joint venture.

Vietnam has opened its market door to franchising, but this remains the playing field for foreign

brands so far. Lawyer Ho Huu Hoanh, Director of Viet Franchise Center, affirmed that the

biggest barrier now is not the legal framework. In addition, the franchisers still need to consider

the infrastructure conditions and seek suitable partners. It is possible that this group's priority

when looking for partners in Vietnam is a capable to manage a chain store of Starbucks. There

are careful steps has made when Starbucks entering a market which is one of the worlds leading

coffee exporters. However, the presence of Starbucks create new competition with home-grown

cafes such as Trung Nguyen and Highlands Coffee, as well as foreign shops operating in

Vietnam such as the US-based Coffee Bean & Tea Leaf and Australias Gloria Jeans. Therefore,

they need to create competitive advantage in order to deal with threatening from the rivals.

b. Competitive advantage:

The first point is brand name recognition. Starbucks is one of famous branding of coffee

product company. According to Venkatraman and Nelson (2008), Starbucks is a gigantic brand.

These emotional brands become meaningful in part because they become interwove with the


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narratives of peoples lives. Starbucks create their brand name with offer good environment of

stores which is captured by four themes such as Starbucks as Home; Starbucks as a

Constellation of Personal Spaces; Starbucks as Exotic; and Starbucks as a Bridge between

Cultures (Venkatraman & Nelson, 2008). In fact, the Starbucks phenomenon not only takes

place in Vietnam, while the phenomenon is foreseeable, because Starbucks is an iconic

emotional brand. These entire themes will create good brand name within Vietnamese customers.

The second point is quality of product. All of products that Starbucks offer to the customer

have high quality of item. Starbucks establish their own Total Quality Management System in

order to provide and control the quality of product that they sell to the customer. Such

experiences are built based on high-quality Arabica coffee, products and especially passionate

and experienced baristas. In addition, Starbucks will work closely with local Vietnamese coffee

farming cooperatives to increase the quality of Arabica coffee. Besides, Starbucks has made a

point to please the locals by making a special drink called the Asian Dolce Latte to appeal to

local flavor. By doing this Starbucks has a better chance to win over the locals that are so keen to

stick to their original tastes. Since Starbucks has a flavor of coffee unlike anything the

Vietnamese are used to, this differentiation can potentially give them the competitive advantage

they need in order to succeed.

The third point is unique chain stores. As I mentioned above, the Starbucks chain stores are

decorated as another in the world. Promote a warm, welcoming, and friendly environment rather

than copy Starbucks' style of self-promoting visuals, structural sameness, and regimented

layouts. Unlike other service and retail businesses, customers can engage multiple times per day

with a cafe or coffee shop, so make them feel like it's a "third location" in cafe with interesting

and changing visuals, a variety of seating arrangements, and let the customer alter the furniture

to suit themselves. Even put together a bunch of off-beat, eclectic, and quirky furniture pieces.

The fourth point is extensive product list. This is one of the competitive advantage of

Starbucks because the product that they produce is always be consumed by the customer. This is

because the demand for food and beverages is constant. With 87,000 drink products, Starbucks

aims to serve different groups of clients with different tastes, from those, who like fine coffee to

those, who likes coffee with 30 percent caffeine. In addition, therefore, the extensive product list

of Starbuck will help them to compete with other company that in the same business.


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Besides that, Starbucks also is a company who has strong financial company. This is because

Starbucks was starts operated in many years ago and has good financial management and

strategies. They will achieve strong financial in company because they have largest market share

in the industry. They also expand their business to the other country and do joint venture with

local business partners to help recruit talented individuals and maintain financial control.

2. Strategic choice and implementation

According to Johnson and Scholes (1999) propose the following categorize of evaluation

criteria that apply for Starbucks strategy in Vietnam:

Suitability:At the moment, the environment is stable and encouraging to foreign investors.

Also, as we know that coffee consumption is high in Vietnam, it is believed that the customers

will appreciate the added value that Starbucks brings to the coffee-drinking experience. As

Starbucks keeps the same standards in all of their chains worldwide, each new store that is

launched goes through the same procedures. This means that the Vietnamese customers can

always expect the same quality products and services as global. There may be other competitors,

and big ones at that, but Starbucks products are unique and different to the regular coffee one

finds in Vietnam. Starbucks is one of expert in chain stores. They know exactly where to open a

store, making sure that there is a lot of traffic around it. In Ho Chi Minh City, the first store

situated in District 1 where there are many businesses activities, as well as shoppers, thereforeincreasing the chance for success. So their expectations fall in line with those of other markets

that they have penetrated: to be recognized as a high quality coffee house, and the coffee house

that customers prefer. As a result, long queues of people stand in front of the caf and wait in

patience for their turn to enjoy the coffee from the US.

Feasibility:Funds are not an issue as Starbucks has money to invest new market. They have

core competencies: high-quality products, expertise to penetration in Vietnams market. Since

Starbucks planned to store in Vietnam, they have selected an expertise as well as Hong Kong

Maxim Group who has experiences and understand deeply Vietnamese business. Besides,

Starbucks also make relationship with local farming as their main supplier to increase the quality

of coffee and meet the local customers demand.


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Acceptability:Vietnamese markets have been grabbed by Starbucks for a year and it seems like

the brand has its system to ensure its maximum level of the success because the method of

market development using by the firm has just a little or even no risks involved in. In fact,

challenge facing Starbucks is changing consumer lifestyles and trends. The Vietnamese have a

long and unique style of coffee. Vietnamese coffee is often sold in small cafes with a few stools,

kiosks, markets, in front of peoples houses and even at street sidewalks. Otherwise, Starbucks

bring their coffee in order to change Vietnamese.

PART 2: RECOMMENDATION

Currently, Starbucks has been entered in Vietnam about 1 year and opened the third store,

but the number of customer come in Starbucks is mainly foreigners and overseas Vietnamese.

However, it cannot define that Starbucks will succeed in Vietnam or not. But there are some

recommendations depend on current situation analysis of Starbucks.

Firstly, Starbucks has been work with local farmer to ensure the high-quality products. So

there will be more spending power in the area, which allows for Starbucks find out about

reputable, local, coffee suppliers in order to reduce costs for the company. Therefore, they can

set up a new price for the consumer as a way to increase demand significantly because a lot of

people cannot afford Starbucks high price. So Starbucks can gain exposure to market since more

customers are willing to pay for cheaper price. Besides, they can help stimulate Vietnamese

economy by developing strong relationship with local suppliers. Moreover, it should be reduced

transportation costs and create positive image to customers.

Secondly, there are differences in taste of Starbucks coffee with traditional Vietnamese

coffee, so it is possible to add local drinks, food and pastries to the menu can go a long way to

get Starbucks into Vietnamese consumers initial consideration set. It can be a costly alternative,

but Starbucks can attract new customer and retain current customer. Furthermore, they can adapt

compete against other coffee shops such as Trung Nguyen and Highlands Coffee.

Lastly, Starbucks can take advantage of its global brands to implement marketing campaigns.

In addition, Starbucks offers recycling programs in the United States, or reward systems for


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having reusable cup, so it is possible to do the same in Vietnam. Besides, Starbucks can offer

discount and promotion to attract Vietnamese consumers demand. As a result, consumers who

may not be able to normally afford Starbucks products will enjoy discount events. So they

should be come back on special occasion in the future.


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CONCLUSION

All in all, although Starbucks is a successful company in the world, however, went they enter

in Vietnam market, they still need to use suitable strategy in order to build brand name and gain

loyal customers. This report answered three questions of classical perspective in order to analyze

how well it served Starbucks in strategic management. As a viewpoint, it can be applied other

Whittingtons School of thought such as: processual and systemic perspective. Besides, there are

some recommendations for Starbucks to improve their performance in my point of view.

Hopefully, Vietnam will be only one of many successful Starbucks retail stores Asian.

Word count: 3292 words


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APPENDIX

Appendix 1:

Value chain analysis allows the firms to understand the parts of its operations that create

value and those that do not. Understanding these issues is important because the firm earns

above-average returns only when the value it creates is greater than the costs incurred to create

the value (Hitt et al, 2009, p.84).

Source: partnerscreatingwealth.com

Primary activities

Inbound logistics: Starbucks inbound logistics ensure to select coffee beans producers mainly

in Vietnam, communication the standards related to the quality of coffee beans, establishing

strategic relationships with local farmers.

Operations: Starbucks has been operated business in 62 countries that including Vietnam in

two ways: direct operation of the stores by the company and licensing for franchisor. Currently

there are 8870 company-operated stores globally, whereas 8139 stores operate on the basis of

license (Starbucks Company Profile, online, 2011).

Outbound logistics: The outbound logistics for Starbucks has directly sold its products

through its stores chain without any intermediates.


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Marketing and Sales:Starbucks does not spend much money to invest in marketing, so they

depended on the word-of-mouth achieved through the high quality of products as well as

customer services.

Service: One of the main objectives of Starbucks is to provide a high level of customer

service, which is also mentioned in the mission statement of the corporation. Accordingly, the

companys staffs are well-trained and encouraged to work their best in order to ensure that the

customers will always satisfy enjoying the coffee and services here.

Support activities

Infrastructure:Starbucks infrastructure includes a range of general support activities such as

management, planning, finance, accounting, legal support and government relations that are

required to support the work of the entire value-chain (Hitt et al, 2009, p.87).

Technology development:Technology is playing an important role in order to help Starbucks

to save costs, to ensure the product qualitys consistency and to offer the high level of customer

experience as well. An example of this is the assurance in the consistency of Starbucks coffee

thanks to the computerized coffee roasters. This is also thing that make customer come back to

the brand.

Procurement:Coffee beans, raw food items or other fixed assets, such as machinery, are all

included in the purchasing items needed for the production or services of Starbucks Coffee.


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Appendix 2:

According mindtools (2014), the Porter five forces is a useful tool that help the firm

understand both of strength of current competitive position, and the strength of a position where

they want to be. With a deeply understanding of where power lies, Starbucks can take fairadvantage of a situation of strength, improve a situation of weakness, and avoid taking wrong

steps. So there is an important tool in select suitable strategies.

Source: hbr.org

Rivalry among existing competitors is high within the industry Starbucks operates in with

major competitors like Trung Nguyen Coffee, Highlands Coffee, Coffee Beans, thousands of

small local coffee shops and cafes.

Starbucks customers possess large amount of bargaining powerbecause there is no and

minimal switching cost for customers, and there is an abundance of offers available for them.

The threat of substitute products and servicesfor Starbucks is substantial. Specifically,substitutes for Starbucks Coffee include tea, juices, soft drinks, water and energy drinks, whereas

pubs and bars can be highlighted as substitute places for customers to meet someone and spend

their times outside of home and work environments.


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Starbuckssuppliers have high bargaining powerdue to the fact that the demand for coffee is

high in global level and coffee beans can be produced only in certain geographical areas.

However, Vietnam is one of the leading produce coffee beans in the world. So it can be said that

the bargaining power of suppliers is quite low.

However, the threat of new entrantsto the industryto compete with Starbucks is low,

because the market is highly saturated and required huge amount of financial resources in order

to enter into the Vietnamese market.

Appendix 3:

According to mindtools (2014), Ansoff Matrix to portray alternative corporate growth

strategies, Igor Ansoff presented a matrix that focused on the firms present and potential

products and markets (customers).The Ansoff Growth matrix is another marketing planning tool

that helps a business determine its product and market growth strategy. So there are four main

strategies:

- Market development: a growth strategy

where the business seeks to sell its existing

products into new markets.

- Diversification: a growth strategy where a

business aims to introduce new products

into existing markets.

- Market penetration: a growth strategy

where the business focuses on selling

existing products into existing markets.

- Product development: growth strategy

where a business markets new products in

new markets.

Source: mindtools.com


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