MGT499 - Strategic Management Mod 4 SLP Essay Example | Topics and Well Written Essays - 500 words

MGT499 - Strategic Management Mod 4 SLP - Essay Example nd the overall Starbucks experience warrants an analysis of how well the company manages its internal strengths and weaknesses by optimizing its core competencies and developing its weaknesses that will allow it to achieve its company mission and objectives. One of the biggest strengths of the company lies in the dedicated and exceptionally skilled workforce who is well trained. Company strategy has always been to reward excellence of employees and Starbucks is today among the best companies to work for as per Fortune 500 ratings and Financial Times ratings. With attractive fringe benefits, stock option plans and high wages and salary scales, the Starbucks refers to its employees as partners, promoting commitment and loyalty and this is one of the key resources of the company which is hard to imitate due to â€Å"social complexity† involved ( Barney 1991). The company utilizes this strength in many ways. It has used the service staff’s skills in customer care and overall enthusiasm to create an in store atmosphere that is cozy, friendly and home like that they have branded it as the â€Å"third place† in life. The regular customers are called by name and the Baristas of Starbucks outlets remember their usual drinks. Such customization has been at the cornerstone of Starbucks success. Another internal strength is the Starbucks special SWOT team specializing on stores opening. They have an excellent track record of location scouting and opening new outlets in cost effective and speedy fashion. This strength has allowed the company to make right location decisions and the use of in-house design and fabrication teams has allowed Starbucks to cut costs in outlet openings and also maintain the unique Starbucks ambiance in line with company expectations. Optimization of this strength has allowed the company to drive its expansion plans aggressively. Financial strength and low costs is strength. This is achieved through large scale roasting and milling facilities,