Essay Available:
page:
4 pages/≈1100 words
Sources:
-1
Style:
Chicago
Subject:
Management
Type:
Research Paper
Language:
English (U.S.)
Document:
MS Word
Date:
Total cost:
$ 20.74
Topic:
Starbucks Strategic Management
Research Paper Instructions:
Hi,
This is a group project and we have been working on it for the first two parts. I need help with Part 3. Please read the guideline. This part needs to create a separate sheet on excel but i think it would be confusing for you so i have create tables in my draft for you so you just need to research and fill in the box and start writing the report after filling in the box. Please note that this part is continued from previous part of the assignment, i will attach them as well so you can read before doing part 3.
Research Paper Sample Content Preview:
Market Development
Threat 1
Description
Type
Probability of Event
Cost Event
Risk Value
Competition from cheap coffee retailers
Competition
Moderate
$25,000,000
$25,000,000
Manage the Risk
Yes
No
Explanation
Could you avoid the risk?
Yes
The risk could be avoided by enhancing marketing strategies and promoting Starbucks services across different marketing channels.
Could you share the risk?
Yes
Risk sharing can be attained by diversifying the product portfolio and ensuring that there are different prices for different customer segments.
Could you control the risk?
Yes
The risk can be controlled by buying out emerging retailers offering cheap prices.
Could you prevent the risk?
No
It is impossible to prevent the risk because there are many people interested to enter the sector
Threat 2
Description
Type
Probability of Event
Cost Event
Risk Value
Competition from established companies and outlets
Competition
High
$60,000,000
$60,000,000
Manage the Risk
Yes
No
Explanation
Could you avoid the risk?
No
Big and established companies have the wherewithal to make massive investments and compete with Starbucks.
Could you share the risk?
Yes
Diversifying the products could reduce the risk.
Could you control the risk?
Yes
Risk control can be controlled through mergers and purchase of competitors.
Could you prevent the risk?
No
The risk can never be prevented because there are many companies within the sector
Threat 3
Description
Type
Probability of Event
Cost Event
Risk Value
Imitation
Competition
High
$20,000,000
$20,000,000
Manage the Risk
Yes
No
Explanation
Could you avoid the risk?
No
Imitation arises from other companies as they seek to overcome the competitive advantage of Starbucks.
Could you share the risk?
Yes
Diversifying products and opening centers in new regions would share the risk.
Could you control the risk?
Yes
The main strategy to control the risk is buying out competitors and copyrighting products to avoid replication without permission.
Could you prevent the risk?
No
There is no way the risk could be prevented because it originated from the external environment.
Market Penetration
Threat 1
Description
Type
Probability of Event
Cost Event
Risk Value
Policy Limitations
Legal
Medium
$15,000,000
$15,000,000
Manage the Risk
Yes
No
Explanation
Could you avoid the risk?
No
The regulation and policies are developed independently by government agencies.
Could you share the risk?
No
The risk can be shared through investments in states with favorable policies.
Could you control the risk?
No
The decision to formulate the laws originated from external stakeholders.
Could you prevent the risk?
Yes
The risk can be negated by ensuring that
Threat 2
Description
Type
Probability of Event
Cost Event
Risk Value
Third-Party Suppliers
Marketing
High
$24,000,000
$24,000,000
Manage the Risk
Yes
No
Explanation
Could you avoid the risk?
Yes
The risk can be avoided by having chains that are directly managed by Starbucks without the need for third-party suppliers
Could you share the risk?
Yes
Reducing the ratio of Starbucks chains managed by third-parties. This is done by replacing chains managed by third-parties have strict conditions to ensure competitiveness
Could you control the risk?
Yes
By eliminating the need for third-party suppliers.
Could you prevent the risk?
No
After including third-parties in the supply chain system, it is difficult to control the management approach because they act independently.
Threat 3
Description
Type
Probability of Event
Cost Event
Risk Value
Emergence of Independent Coffeehouse Movements
Market/Competition
High
$6,000,000
$6,000,000
Manage the Risk
Yes
No
Explanation
Could you avoid the risk?
No
The market is free an anyone can establish an independent coffeehouse in their locality, which opposes the expansion of multinational chains.
Could you share the risk?
No
Because the risk emerged from the external environment, it was impossible to share.
Could you control the risk?
No
It is impossible to control the risk because it emerged from the external environment.
Could you prevent the risk?
No
Starbucks has no control on the external environment, but can establish mitigation measures for emerging risks.
Product Development
Threat 1
Description
Type
Updated on
Threat 1
Description
Type
Probability of Event
Cost Event
Risk Value
Competition from cheap coffee retailers
Competition
Moderate
$25,000,000
$25,000,000
Manage the Risk
Yes
No
Explanation
Could you avoid the risk?
Yes
The risk could be avoided by enhancing marketing strategies and promoting Starbucks services across different marketing channels.
Could you share the risk?
Yes
Risk sharing can be attained by diversifying the product portfolio and ensuring that there are different prices for different customer segments.
Could you control the risk?
Yes
The risk can be controlled by buying out emerging retailers offering cheap prices.
Could you prevent the risk?
No
It is impossible to prevent the risk because there are many people interested to enter the sector
Threat 2
Description
Type
Probability of Event
Cost Event
Risk Value
Competition from established companies and outlets
Competition
High
$60,000,000
$60,000,000
Manage the Risk
Yes
No
Explanation
Could you avoid the risk?
No
Big and established companies have the wherewithal to make massive investments and compete with Starbucks.
Could you share the risk?
Yes
Diversifying the products could reduce the risk.
Could you control the risk?
Yes
Risk control can be controlled through mergers and purchase of competitors.
Could you prevent the risk?
No
The risk can never be prevented because there are many companies within the sector
Threat 3
Description
Type
Probability of Event
Cost Event
Risk Value
Imitation
Competition
High
$20,000,000
$20,000,000
Manage the Risk
Yes
No
Explanation
Could you avoid the risk?
No
Imitation arises from other companies as they seek to overcome the competitive advantage of Starbucks.
Could you share the risk?
Yes
Diversifying products and opening centers in new regions would share the risk.
Could you control the risk?
Yes
The main strategy to control the risk is buying out competitors and copyrighting products to avoid replication without permission.
Could you prevent the risk?
No
There is no way the risk could be prevented because it originated from the external environment.
Market Penetration
Threat 1
Description
Type
Probability of Event
Cost Event
Risk Value
Policy Limitations
Legal
Medium
$15,000,000
$15,000,000
Manage the Risk
Yes
No
Explanation
Could you avoid the risk?
No
The regulation and policies are developed independently by government agencies.
Could you share the risk?
No
The risk can be shared through investments in states with favorable policies.
Could you control the risk?
No
The decision to formulate the laws originated from external stakeholders.
Could you prevent the risk?
Yes
The risk can be negated by ensuring that
Threat 2
Description
Type
Probability of Event
Cost Event
Risk Value
Third-Party Suppliers
Marketing
High
$24,000,000
$24,000,000
Manage the Risk
Yes
No
Explanation
Could you avoid the risk?
Yes
The risk can be avoided by having chains that are directly managed by Starbucks without the need for third-party suppliers
Could you share the risk?
Yes
Reducing the ratio of Starbucks chains managed by third-parties. This is done by replacing chains managed by third-parties have strict conditions to ensure competitiveness
Could you control the risk?
Yes
By eliminating the need for third-party suppliers.
Could you prevent the risk?
No
After including third-parties in the supply chain system, it is difficult to control the management approach because they act independently.
Threat 3
Description
Type
Probability of Event
Cost Event
Risk Value
Emergence of Independent Coffeehouse Movements
Market/Competition
High
$6,000,000
$6,000,000
Manage the Risk
Yes
No
Explanation
Could you avoid the risk?
No
The market is free an anyone can establish an independent coffeehouse in their locality, which opposes the expansion of multinational chains.
Could you share the risk?
No
Because the risk emerged from the external environment, it was impossible to share.
Could you control the risk?
No
It is impossible to control the risk because it emerged from the external environment.
Could you prevent the risk?
No
Starbucks has no control on the external environment, but can establish mitigation measures for emerging risks.
Product Development
Threat 1
Description
Type
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