Question

1. Vision statement of Starbucks is “Treat people like family, and they will be loyal and give their all.” The first step for developing a vision statement is to define where the management wants to take the organization and what are they offering for their stakeholders. In case Starbucks, stakeholders refer to their consumers. The statement, “treat people like family” is specifically and clearly stating that the management wants their staff to treat their customers as they are their family members. Therefore, here this statement develops the view of the Starbucks’ management. Secondly, by treating their customers like family, they are offering some sort of comfort towards their stakeholders and as a result they will be retained towards Starbucks and will spend their money for coffee in Starbucks only rather than going to other coffee shops.

2. Walmart had launched their e-commerce business in 2019. After launching their online business, the revenue rose about 40% the next year. This is an example of financial objective.

            Apple give more emphasis on their product quality and durability. Apple’s products are usually having more longevity if we compare them with its rival companies like Samsung, LG, Nokia, etc. Apple uses product development as its main intensive strategy for growth. There, it can be said that it is an example of strategic objective of Apple.

Do you agree with the post above? why?

Answer 1

I am completely agree with vision statement of Starbucks. By saying “Treat people like family, and they will be loyal and give their all.”, they insert more energy in to their staff as well as Customers. It also attract customers emotionally. It is the good stratergy to deal with customers. Definately it will help company to take them higher. Onc customers attached not only professionally but emothinally as well. In that case they will not even spend single money to other place. They will be royal customers of Starbucks always. Hence it is the good strategy to increase business and keep their employees humble and sweet.

The retail giant (walmart) during its first quarter earnings that U.S. e-commerce sales have grown 37% year over year and it will rose about 40% next year. It is the example of financial objective. Walmart e-commerce strategy resets on a few key pillars. First, it has been building out a variety of omnichannel services like grocery pickup and the ability to place an online order with an in-store associate, to get customers who visit its stores to go to its website. Secondly it has been broadening its assortment of premium brands like Betsey Johnson and Levi's in Kids apparel. Lastly it has been buidling out a robust logistics network so it is better equipped to roll out faster delivery options. They are very clear in their financial objective and are moving in right direction.

When we talk about Apple, what usually comes to mind is its product line, which has become equated wit high quality, invention and innovation. Preorders come rolling in even months before the release of a new product, and customers barely even blink when it comes with a steep price tag attached. Because it is an Apple product, which means that it is not something to tale lightly. But what this really means is that Apple has a solid product strategy in place and it is actually working. Hence we can say that Product development is the key strategy of Apple to achieve their objectives.