Until recently, Starbucks has relied heavily on word of mouth and its strong brand as the main marketing tools but with increased competition and imitation, the company has moved fast to enhance repeat business and customer loyalty. Starbucks Essay - 827 Words | Bartleby Stronger market position through additional partnerships or alliances. It now has over 15,000 stores in over 44 countries. In light of the companys weaknesses, the threat of imitation involves firms that try to copy the taste, look, and feel of Starbucks products. Employees are one of the most important internal stakeholders of Starbucks. For example, further diversification can reduce the coffee companys dependence on a single market, market segment, or industry, thereby reducing risks and improving revenue growth opportunities. Stakeholders can affect the firm's actions. That's why they implemented a mobile employee app to reach their biggest asset: their customer-facing workforce. This competitive environment requires that the company continuously improve its business strengths to optimize its financial performance and growth trajectory. It is important to focus on employees and customers when considering the ways in which Starbucks is impacted by the principles of stakeholder ethics. Starbucks should continue to be more innovative in the design and development of new products. And she became the siren.. We use cookies for website functionality and to combat advertising fraud. Internal stakeholder group External stakeholder group As seen from the Fig. Dunkin' Brands engages with internal and external stakeholders about company strategy, current practices and future goals. Selling the Brand Inside - Harvard Business Review Weaknesses are internal factors that reduce or limit the capabilities of the coffeehouse company. IvyPanda. The following are the main stakeholders in Starbucks Coffees business: Employees. Starbucks Ethics & Compliance supports our mission and values and helps protect our culture and our reputation by fostering a culture that is committed to ethical leadership and conducting business with integrity by providing resources that help partners make ethical decisions at work.
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