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Starbucks - Isites.harvard.edu

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Maria Risholm, Salomon Sacal, Kamel Ait El Hadj, Geraldo Carvalho & Yanee Zhang
Starbucks
п‚ћ
Mission:
 to inspire and nurture the human spirit – one person, one cup
and one neighborhood at a time
п‚ћ
Who?
п‚— Seattle 1971
п‚— 1984 coffehouse consept
п‚— IPO in 1992
п‚— Market Capitalization: US $18.6Bn
п‚ћ
Where?
п‚— More than 50 countries and 16,700 stores
Source: www.starbucks.com, http://finance.yahoo.com/
Starbucks’ Success Formula
п‚ћ
Motivated employees = superior customer
service
п‚— Focus on recruiting & developing
п‚— Attractive compensation policies
в—‹ Stock options
в—‹ Medical benefits
Internationalization
п‚ћ
Licensing пѓ Lack of control
п‚ћ
Strategy Alternatives
п‚— Local Joint-Venture (licensed format)
п‚— Acquisition (Wholly owned)
п‚— Greenfield investment (Wholly owned)
Local joint venture = Preferred Strategy
Local Joint-Venture Advantages
п‚ћ
Control
п‚ћ
A facility entry into foreign market
п‚ћ
Shared fixed costs & associate risks
п‚ћ
Local partner’s knowledge
п‚— Competitive conditions, Culture, Political system, etc.
Approaches and Acquisitions in Countries such as :
(EMEA)
•Japan – “スターバックス (transliteration: sutābakkusu), and the
abbreviation スタバ is also used as slang”
•Thailand – ” สตาร์บคั ส์ pronounced [satāːbākʰ]”
•Europe
-
Joint Ventures and Parameters
“International operating margin
improved to 7.7%, from 1.4% in
Q2 FY09”
Source: http://news.starbucks.com/article_display.cfm?article_id=378
Starbucks in China:
Objective:
Develop the largest overseas market in China
Current Situation:
п‚— 700 coffee stores in Greater China(PRChina, HK, Macau,
Taiwan) , including over 360 in mainland China (2009)
 10% of Starbucks’ US$ 6.4 global sales (2005)
п‚— A growth of 30% in Beijing recent years and in Shanghai,
less than 2 years, net profit reached 4 million dollars
Ownership Structure:
п‚ћ
Licensing and Joint Venture
Beijing Meida Coffee Co Ltd
Shanghai Uni-President Starbucks Coffee Ltd
Maxim's Caterers Ltd
Problems:
Licensing:
пЃ¬
Unable to regulate the cash flow
Joint Venture:
пЃ¬
Lack of controlling stakes results in the weak
management control
пЃ¬
The three individual companies work
independently within their own regions. Unable to
help to achieve Starbucks' national expansion
plans.
Solutions:
п‚ћ
Whole ownership: Changzhou, Chengdu,
Chongqing, Dalian, Dongguan, Foshan, Hangzhou,
Kunshan, Nanjing, Ningbo, Qingdao, Shaoxin,
Shenyang, Shenzhen, Suzhou, Tianjin, Wuxi,
Wuhan and Xi’an.
п‚ћ
Starbucks Greater China Support Center in
Shanghai (2005)
Other advice for the expansion:
пЃ¬
Develop new products
Tea drinks
пЃ¬
Social responsibilities:
п‚ћ
Starbucks China Education Project (US$5 million)
China Soong Ching Ling Foundation
China Women Development Foundation
Chengdu Education Foundation
п‚ћ
2008 Sichuan Earthquake relief ($100,000)
Theoretical patterns
Internalization/market imperfections theory
п‚ћ
Licensing system is flawed: (1) limited or no
control over the licensee and (2) Starbucks’
specific culture cannot be licensed
Greenfield investments
Dunning’s Eclectic paradigm
Source: International Business, Charles W.L. Hill, McGraw-Hill 7th ed.
Conclusion
п‚ћ
No strategy fits all models
п‚ћ
Main factors to take into consideration when
selecting a course of action: (1) immaterial
elements (2) level of control
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