Free Essay

Model

In: Business and Management

Submitted By abby5955
Words 3691
Pages 15
Abiola Idowu
Ashford University
BUS640
Operations Management
September 26, 2011

Introduction:
Porter’s model is based on the insight that a corporate strategy should meet the opportunities and threats in the organizations external environment, especially competitive strategy should be based on the understanding of an industry’s structure and the way they change. Porter has identified five competitive forces that shape every industry and every market. These forces determine the intensity of competition and hence the profitability and attractiveness of an industry. The objective of corporate strategy should be to modify these competitive forces in a way that improves the position of the organization. Porter’s model supports the analysis of the driving forces in an industry. Based on the information derived from the five forces analysis, management can decide how to influence or to exploit particular characteristics of their industry. The five competitive forces are typically described as follows: bargaining power of suppliers, the term 'suppliers' comprises of all sources for inputs that are needed in order to provide goods or services, supplier bargaining power is likely to be high when the market is dominated by a few large suppliers rather than a fragmented source of supply, there are no substitutes for the particular input, the suppliers, customers are fragmented so their bargaining power is low, the switching costs from one supplier to another are high there is the possibility of the supplier integrating forwards in order to obtain higher prices and margins this threat is especially high when the buying industry has a higher profitability than the supplying industry, forward integration provides economies of scale for the supplier, the buying industry hinders the supplying industry in their development (e.g. reluctance to accept new releases of products),the buying industry has low barriers to entry in such situations, the buying industry often faces a high pressure on margins from their suppliers the relationship to powerful suppliers can potentially reduce strategic options for the organization. The bargaining power of customers determines how much customers can impose pressure on margins and volumes, customers bargaining power is likely to be high when they buy large volumes, there is a concentration of buyers, the supplying industry comprises a large number of small operators, the supplying industry operates with high fixed costs, the product is undifferentiated and can be replaced by substitutes, switching to an alternative product is relatively simple and is not related to high costs, customers have low margins and are price sensitive.
Executive summary
Starbucks mission is to inspire and nurture the human spirit one person, one cup, and one neighborhood at a time. Starbucks is one of the top coffee serving industries in the US. They also do many things to help the economy, in fact one of the coffee industry problems is destroying the estimated 5 million bags of coffee on the current global market that do not meet such standards and would simultaneously lower supply and raise quality, potentially reversing the trend whereby farmers pay more to produce coffee than they make on it. Starbucks has come up with a way to avoid this economic problem that is affecting the world globally. Starbucks roasts high-quality whole bean coffees and sells them along with fresh, rich-brewed, Italian style espresso beverages, a variety of pastries and confections, and coffee-related accessories and equipment, primarily through its company, operated retail stores. In addition to sales through our company-operated retail stores, Starbucks sells whole bean coffees through a specialty sales group and supermarkets. Additionally, Starbucks produces and sells bottled Frappuccino coffee drink and a line of premium ice creams through its joint venture partnerships and offers a line of innovative premium teas produced by its wholly owned subsidiary, Tao Tea Company.
The Company's objective is to establish Starbucks as the most recognized and respected brand in the world. Starbucks has always figured that putting people before products just made good common sense. So far, it's been working out for them. Their relationships with farmers yield the highest quality coffees. The connections they make in communities create a loyal following. And the support they provide their baristas pays off every day, Starbucks embraces diversity to create a place where each person can be themselves. The company was started in 1971 in Seattle, Washington. When Howard Schultz first joined the company in the early 1980s, Starbucks was already a highly respected local roaster and retailer of whole bean and ground coffees. A business trip to Italy opened Schultz's eyes to the rich tradition of the espresso beverage. He purchased Starbucks with the support of local investors in 1987. In addition to well-situated stores, Starbucks sells coffee, tea, food and entertainment products through its specialty operations. Starbucks stores may be found in urban and suburban areas, as well as many rural communities worldwide. As many as 55 stores grew from 1989 to over 2200 stores today. Some of the products sold include beverages, pastries, whole coffee beans, coffee related retail items.
Definition
Policy economics entails using the economic laws and principles to formulate economic policies. The tools being used in the paper to explain my theory is the characteristics of the market structure, behavior of market structure, producer maximization, consumer maximization, graphical analysis, and mathematical analysis. A company can operate under four basis types of market structure: Monopolistic Competition, Oligopoly, Pure Competition, and Pure Monopoly.
Monopolistic Competition is a market structure in which many firms sell a differential product, into which entry is relatively easy, in which the firm has some control over its product price and in which there is considerable non-price competition. Pure competition is a market structure in which a very large number of firms sells a standardized product, into which entry is very easy, in which the individual seller has no control over the product price, and in which there is no non-price competition; a market characterized by a very large number of buyers and sellers. Pure Monopoly is a market structure in which one firm sells a unique product, into which entry is blocked, in which the single firm has considerable control over product price, and in which non-price competition may or may not be found. Oligopoly is a market structure in which a few firms sell either a standardized or differentiated product, into which entry is difficult, in which the firm has limited control over product price because of mutual interdependence except when there is collusion among firms, and in which there is typically non-price competition. Starbucks coffee industry operates under Monopolistic Competition. Factors or Costs
To conduct the market structure of the Starbucks coffee company I will go over five parts that make up the market structure; The global market structure, major players in the coffee industry, Starbucks market segments, Starbucks market channels, SWOT analysis of Starbucks Coffee. Starbucks Coffee Company announced that the average price per pound for all its coffee increased from US$1.28 in fiscal year 2005 to US$1.42 in fiscal year 2006. During the same period the industry average "C" market price was $1.04 per pound. Additionally, Starbucks announced that the coffee Company purchased through its independently verified coffee sourcing and purchasing guidelines, known as C.A.F.E. Practices, increased from 77 million pounds in fiscal year 2005 to 155 million pounds in fiscal 2006, 53 percent of the total coffee purchased by the Company. This represents a year-over-year increase of 100 percent. The real problem is destroying the estimated 5 million bags of coffee on the current global market that do not meet such standards would simultaneously lower supply and raise quality, potentially reversing the trend whereby farmers pay more to produce coffee than they make on it. "At Starbucks, our commitment to pay premium prices for premium quality coffee has not wavered over the years," said Dub Hay, senior vice president, Coffee. "It's an approach that not only serves the short- and long-term economic interests of coffee farmers and suppliers; it also serves our needs by creating an incentive for farmers to improve quality and increase production. That, in turn, contributes to a more sustainable supply of the high-quality coffee we depend on to support our continued growth." Starbucks developed C.A.F.E. Practices (Coffee and Farmer Equity Practices) in partnership with Conservation International and Scientific Certification Systems to provide incentives for coffee to be cultivated and processed in a sustainable manner. Beyond paying premium prices for premium quality coffee, coffee purchased under C.A.F.E. Practices guidelines meets criteria around social responsibility in the farming community, economic transparency to help ensure equitable payment to farmers for their crops, and by expanding purchases through its C.A.F.E. Practices program and paying premium prices, Starbucks is providing farmers with an important incentive to grow coffee in an environmentally friendly manner.
The industry and competitive analysis of Starbucks Company is the Starbucks operates under a monopolistic competition which characteristics are that there are many buyers and sellers, products differentiate, there are few barriers to entry and exit, each firm has a tiny monopoly and the firm has some control over price. Monopolistic competitive firms produce products that are not perfect substitutes or are at least perceived to be different to all other brands products. Unlike in perfect competition the monopolistic competitive firm does not produce at the lowest possible average total cost. Monopolistic competition is inefficient, perfect competition is the most efficient, with supply meeting demand and production therefore matching this, so stock is not sat in storage for prolonged periods of going to waste.
Many companies are in the market and competition is fierce. Competitors use location, product mix, and store atmosphere differentiation to establish market niche. Major coffee company's competitors are LION Coffee, Dietrich Coffee, Panera Bread, Krispy Kreme, McDonalds, Burger King, and Dunkin Doughnuts. Special Eatery industry fits within the largest segment of disposable income spending, e.g. food and beverages. Steady growth in this segment in the 19902 has led to an abundant number of new companies. As demand for convenience has made eating out a normal routine, the demand for specialty food services has increased in recent years. Something Starbucks has gotten right is the frighteningly rapid explosion of stores across the world. Starbucks is mainly adult-focused and aims to connect with their customers, communities, and children through various advertising tactics. The vast majority of these customers come from urban areas, where individuals are willing to go the extra mile to purchase costly gourmet coffee. Another new and large growing target market within the coffee industry is college aged students and post graduate individuals residing in urban areas. These two segments account for the largest portion of gourmet coffee drinkers. There have been studies showing that coffee consumption has been increased with the drinker's education level. Those who have finished college have bought a lot of coffee but those who are in post graduate level have bought 71 percent more. Urban areas have the most coffee drinkers because it is where most of the educated professionals are located as well as large universities. More and more individuals are becoming educated which shows that there will be a growth in the market of coffee drinkers. Since the largest number of consumers are those being educated or beyond that stage, sales should be increasingly steady. Starbucks compared to other companies such as Tim Horton’s, experiences large degree of profitability in urban areas due to its creative ability to cater to the needs of the large market of young professional adults.
Starbucks is a company that embraces diversity, not limiting themselves to one specific demographic, behavioral, or geographic segment. Individuals appreciate how regardless of any little difference, at Starbucks they are always treated as equals. Most adults are very open- minded which is why they are a good target market. The company promotes minorities and women who own businesses. It helps to promote diversity and thus set new goals to create more inclusive businesses. This helps to increase the feeling among all their customers that are valued.
Adults like to see companies embrace all groups because in that way their children will be prepared to part of the global community where people of diverse backgrounds will have to learn to work together to promote greater harmony in the world. Starbucks advertising is under very sensitive review which refers to the idea that and offensive material will be altered to avoid upsetting certain ethnic, racial, religious, or youth groups and other aspects that could turn customers away from Starbucks. Adults have strong opinions regarding a large variety of issues such as race, religion, age, money, and politics, and there are many things that could be potentially upsetting to various communities. This review is highly important because it prevents customers from being angered, and thereby avoiding negative publicity. The advertising maybe for adults but it must remain child and minority friendly.
No has ever seen a Starbucks ad, billboard, television commercial, or mass media marketing. This is something that will continue to be part of Starbucks company philosophy. "Avid fans and devoted employees can do more to boost a brand than the best of marketing programs," says CEO Jim Donald. Though their strength in consumer brand loyalty, Starbucks will focus on supplying high quality coffee product and letting word of mouth, minuscule local advertising, and internet blogs and websites carry their product further. A Starbucks rank 6th in the market share percentage and shows the least amount of advertising through mass media for the top ten restaurant chains.
Some of the strengths of Starbucks coffee are customer loyalty, employee loyalty, each Starbucks store has its own individual theme, social issues such as the fair trade organization and the fact that coffee is still up and coming industry and Starbucks is growing right along with this business. Some weakness Starbucks produces are some of the stores may be over powering to the cultures they merge into, they have a somewhat small product line for their stores overseas, some people feel as though the lack of advertising is a negative business strategy, over expansion; to many stores and to many products. Some opportunities Starbucks could achieve are they could add on the product line multiple brand extensions such as sandwiches, desserts, or breakfast items and there is a great deal of oversea country expansions. Some of Starbucks threats are their competitive market.
Measurement
A managerial decision I recently had to make which required a complete review of the economic considerations involved whether to transition into a digital format with our portable espresso machines by performing transformation upgrades to both existing equivalent units or to trade them in and use their value to offset the total price incurred by the purchase of new units.
Value Considerations: Current Value of equivalent systems: Flat value: $12,000 each, Intrinsic value: Exams (units)/day: 8.5, Average revenue/unit: $65.00 $553/day X 365 = $201845/year
Cost Consideration #1: Upgrade existing units Total cost and ROI of upgrade, Upgrade =$176000 176000 / 65 = 2727.7exams, 2727.7 / 8.5 = 318.6 days, 318.6 / 2 = 159.3 days/unit Breakeven: 159.3 days .Total cost and ROI of demo purchase (value considerations remain the same) two Units = $312000
Consideration #2: Purchase two new demo units: Trade-in value of existing units = $24000
$288000 1st year of service contract = $37000, $325000, 325000 / 65 = 5000 exams, 5000 /8.5 = 588.2 days, 588.2 / 2 = days/unit Breakeven = 294.1 days
Cost consideration #3: the price of each unit is $193000. 2 Units = $386000 ,Trade-in value of existing units = $24000 $362000 362000 / 65 = 5569.2 exams 5569.2 / 8.5 = 655.2 days 655.2 / 2 = 327.6 days/unit 11.8 day difference in ROI Opportunity loss cost (possible) 6 days downtime
$553/day opportunity 6 x 553 = $3318.00 (applied to demo unit only)
Analysis
Cost Consideration #1: Upgrade existing units: The cost to upgrade two espresso machines $88,000 each. The upgrade utilizes the existing units transport appliance, battery pack and charging components, the current espresso machine. When the reconditioning is complete, each unit will perform the same task as a new digital unit manufactured by GE. However, there is no warranty on the upgraded system outside of the actual work performed. Therefore, any performance issue that was present prior to the upgrade would most likely still be present after the upgrade and would not be serviced as part of the upgrade. The equivalent systems in their current state are both past their predicted usable life and are no longer under any warranty or eligible for any manufacturer service contract.
Cost Consideration #2: Purchase two new demo units: The demo units have been used in the field by sales staff to demonstrate the units. There is no indication as to how many exposures have been made to date on the units. The units have no warranty left and will require an immediate purchase of a service contract. The price of each unit is $156000. Consideration 3 Purchase two brand new units: The new units come with one year warranty. After that, a full service maintenance contract would be required. Summary of Findings
Starbucks is popular enough to sustain the possible downfalls of taking risks. The drive-thru may not be risky but I recommend that there be risks taken to diversify it and differentiate it from the usual drive thru. Perhaps while customers are waiting, interesting non-elevator type music could be played. Between the windows making the order to collecting it, there could be a wide screen television advertising Starbucks products. A drive thru will do best in the urban areas where there are a lot of students, and in family oriented areas where families and children have been reported to be the purchasers of the second largest chunk of the coffee sales. The idea of the drive thru may not be original but it is popular among those in a rush, or pure laziness of not wanting to get out of the one's vehicle and should be incorporated into the majority of Starbucks stand-alone stores across the nation for the greatest benefit of the company. New advertising venues such as internet, retail stores, bar promotional ads. For Starbucks, only retail outlets serve as ads. However the company mainly aims to see itself as an experience an environment that is created in a store and become a community that is meaningful to the people who go there.
Conclusion
The recommendation is exclusive and new product lines such as made to order gourmet sandwiches and specialty food items. This new product line has already been tested and deemed successful, and the company is looking for a way to take the lead in gourmet coffee market. One way they could take the lead is by reducing the time it takes to place the customer’s order. A viewer-friendly kiosk could allow the customer to order there food to specialty coffee in a private and personal way. This is good because some food places do not allow people to talk on the phone while ordering because it distracts the customer, which leads to a longer wait time, which could potentially loose some its customers.

References
Bramhall, J. (2007, January 5). hoc Starbucks corporation. Starbucks Corporation.”. Retrieved August 9, 2011, from Hoovers. Online. RIT Library Online Database Search. 5 January 2007
Kramer, L. K. (2006). Starbucks and their Competition Coffee and Tea Industry. Starbucks and their Competition Coffee and Tea Industry, vol 20 ( iss 36 ), 261pgs. Retrieved August 8, 2011, from Hoovers. com New York 2006
Murphy, C. (2006, November 7). Revolution in a Coffee Cup. EBSCO Host Research Databases. Retrieved August 10, 2011, from RIT Library Online Database Search
Porter five forces analysis - Wikipedia, the free encyclopedia. (2008, February 5). Wikipedia, the free encyclopedia. Retrieved August 15, 2011, from http://en.wikipedia.org/wiki/Porter_five_forces_analysis
Porter's Five Forces - Problem Solving Techniques from MindTools.com. (2009, April 16). Mind Tools - Management Training, Leadership Training and Career Training. Retrieved August 15, 2011, from http://www.mindtools.com/pages/article/newTMC_08.htm
Schultz, H., & Yang, D. J. (1997). Pour your heart into it: how Starbucks built a company one cup at a time. New York, NY: Hyperion.
Server Error | Starbucks Coffee Company. (2008, May 14). Starbucks Coffee Company. Retrieved August 15, 2011, from http://www.starbucks.com/assets/company-profile-feb10
Simon, B. (2009). Everything but the coffee: learning about America from Starbucks. Berkeley, Calif: University of California Press.
Starbucks - Business Exchange. (2006, April 24). Business Exchange. Retrieved August 15, 2011, from http://bx.businessweek.com/starbucks
Starbucks - Business Exchange. (2006, November 9). Business Exchange. Retrieved August 15, 2011, from http://bx.businessweek.com/starbucks
Starbucks - Wikipedia, the free encyclopedia. (1997, January 6). Wikipedia, the free encyclopedia. Retrieved August 15, 2011, from http://en.wikipedia.org/wiki/Starbucks
Starbucks Foodservice | Training | Equipment Espresso Equipment | Fully Automated Soultion. (2008, February 25). Starbucks Foodservice | We Proudly Serve. Retrieved August 15, 2011, from http://www.starbucksfs.com/Support/Equipment/Fully_Automated
Starbucks Market Share and Media Spend « Brand Autopsy. (2007, January 8). Brand Autopsy. Retrieved August 15, 2011, from http://www.brandautopsy.com/2007/01/starbucks_marke.html
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...Health is defined based on three dimensions: physical, mental and social health; a fairly recent modification from the 18th century viewpoints (Ware,1987). Health is perceived differently according to the different models of health that help in guiding and understanding of health and health issues. In relation to the following essay, two models; biomedical model and social model will be discussed and compared in terms of their relevancy in the modern times. The second half of the essay will focus on the effectiveness of the social model in explaining the increasing prevalence of health conditions related to the obesity epidemic. During the early part of the 20th century, infectious diseases predominated as the highest cause of mortality in both developing and non-developing counties affecting 42% of the world’s population (Tulchinsky and Varavikova,2000; Boutayeb and Boutayeb,2005). This is the era that was heavily reliant on the biomedical model to diagnose illness which focused primarily on the proximal causes of disease (factors that act directly to cause a disease) and was confined to the objective measures for disease treatment (diagnosis solely based on medical facts without considering other possibilities)(Johnson,2012). Since the leading causes of death at those times were infections based i.e. pneumonia (11.8%), T.B. (11.3%) and diarrhoea (8.3%) (National Office of Vital Statistics,1947), the biomedical model’s germ theory which stated that all diseases were......

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Models

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