Business strategic management Assignment Example | Topics and Well Written Essays - 1500 words

Business strategic management - Assignment Example The global business environment is offering a broad range of business opportunities and new clients, and thus allowing Starbucks to create different brands to cater for its market needs. The company is continuing to work towards realizing its long-term goals so as to emerge as the most reputable coffee company across the globe. However, despite the growth that the company is realizing, questions arise as to whether Starbucks is growing in the best way or whether it is exceeding its quest for growth (Richard Ivey School of Business, 2009). This paper will address the various issues that face Starbucks in its quest to emerge as the most preferred company in the world. Every company that undertakes its operations in the global market place encounters a number of issues that hinder their progress, even in the case of the most profitable companies such as Starbucks. Though the company has managed to witness outstanding reputation, it is still facing a number of issues like any other company in the global market place. For instance, with the advent of financial crisis, most companies suffer from the state of the economy, and Starbucks is no exception. There has been a number of store closures as a result of poor economic performance in major economies around the world. The number of stores that Starbucks depended on various factors such as finalization of third party agreements, income tax, expected cost savings as well as other benefits that are affiliated with the closure of stores. For instance, with the growing competition, from various companies in different parts of the globe, Starbucks has been unable to cope with the deteriorating performance of its stores, and hence leading to their closure (Richard Ivey School of Business, 2009). Competition is a common state of affairs in every business enterprise. There are a large number of coffee stores in various parts of the world. As a result, it