Strategic Initiative Paper

strategic Initiative Paper

FIN/370
March 12, 2012
Rick Schultz

Strategic Initiative Paper
A strategic plan is an important office of any organizations success. With a solid strategic plan in place an organization will have a clean understanding of:
* What they do,
* Who their customers ar, and
* What risk factors they face (Titman, Martin, & Keown, Section 17.1, An Overview of fiscal Planning,  2011)
Having a clear understanding of what an organization does enables them to compare any activity in the organization against their mission. For example, at Starbucks their primary intent is to maintain their standing as one of the most recognize and respected brands, as a premier retailer of intensity coffees (Starbucks, 2011). They have recently announced that they have originationed and are preparing to market a specialty coffee machine. This clearly hold backs into their objective as defined by their strategic plan. If they, for example, decided to design and market a tricycle for children, this would clearly not fit into their objective.
Knowing who their customers are is critical to any organization that deals with the public.



Starbucks needfully to understand if their customers are children, young adults, older adults, people who trust serious caffeine in their lives, people who want a relaxing experience, the list may go on and on. For example, Starbucks recollective ago realized their customers often want to sit and bask their coffee in the store while they do some(a) work on their portable computers. Once they determined this, Starbucks provided fire wi-fi access to the internet in all of their stores to accommodate their customers.
A clear understanding of the wide risk factors that earth-closet negatively impact an organization is the only way an organization can properly plan and address those risks. Starbucks has many risks to manage. Competitors are a major source of risk for Starbucks. They must have a very clear plan to manage...If you want to get a full essay, order it on our website: Ordercustompaper.com



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