Innovating and Managing Entrepreneurially- Lessons learnt in Starbucks

Executive Summary

This paper includes two different sections. The first section of this paper talks about the company, Starbucks and its innovation. The company's strategies have been discussed, as well as, the various models. It is important for the company to ensure that the operations are according to the strategies and that they help Starbucks in earning more. Two different business models have been applied to the company which can help in developing effective strategies for the future of the business.

The second part of the paper discusses the environment of the United Kingdom. In addition to this, the business environment is also discussed with the help of which the companies can take decision as to whether their business will perform well in the environment or not. The innovation data and the policies of the country with respect to the concepts of innovation and entrepreneurship are also discussed in the second part of the paper.

Innovating and Managing Entrepreneurially- Lessons learnt in Starbucks

Part 1: Innovating and Managing Entrepreneurially - How Innovation has helped Starbucks to increase its profits by 10%

Overview of Starbucks

Starbucks is a worldwide coffeehouse chain and coffee company based in Washington. According to the facts Starbucks is considered as the largest coffee company all over the world, comprise of 20,366 stores within 61 countries of the world, including 13,123 stores in the United States. Starbucks trades hot as well as cold drinks, salads, coffee beans cold and hot sandwiches, snacks, sweet pastries and items for instance tumblers and mugs. All through the Starbucks Entertainment distribution in addition to Hear Music product, the corporation also sells books, film as well as music. A lot of the company's goods are usually seasonal or definite to the region of store. On the other hand, Starbucks-brand coffee and ice cream are also on hand at different grocery stores. From the founding of Starbucks in 1971 in Washington like a local coffee beans roaster with retailer, the business of this company has extended quickly. In the past in 1990s, when Starbucks has started opening its new store daily, a speed that sustained in 2000s as well (Bussing-Burks, 2009).

Starbucks confines citizens who are into a relaxing and leisurely European way of life. With the prospective to confine consumers, Howard Schultz carries back the coffee shop late. Throughout tradition, style of advertising, advancement, increased demand for the gourmet coffee; consumers turn out to be trustworthy to Starbucks Nation. In this nation, consumers are capable to use as a great deal of time since they wish for, either evaluating a paper. Starbucks consumers are also permitted to take pleasure in natural-looking environment. If consumers have propositions to get better Starbucks, then they are capable to contribute their personal ideas on the website of Starbucks. As mentioned earlier, Starbucks consumers try to take pleasure in an unhurried life (Bussing-Burks, 2009).

On the other hand, those people who do not have enough time to endeavour a European way of life experience the American ...