37317Discussion Question 2 Chapter 5
Construct a value chain for a public company,one per class(in other words,once Apple has been used,it cannot be used again). Be very thorough, including raw material sourcing.I what areas do you see a need to improve efifciency?
Source will be the book I attached chapter 5 and one other outside source
Construct a value chain for a public company, one per class (in other words, once Apple has been used, it cannot be used again). Be very thorough, including raw material sourcing. In what areas do you see a need to improve efficiency?
Extra Useful Sights:
THIS IS AN EXAMPLE ++++++++++ BELOW
I choose to use Starbucks for my value chain, because I used to work there, and I’ve always been in awe of their business model. I think that they run a very efficient company; their tremendous growth rate is proof of their success. Another factor that puts them above the rest is their exceptional customer service, which is now growing too. Starbucks in recent years has developed their customer loyalty program in as a part of their app based ordering and payment system.
Inbound logistics-Starbucks selects only the best quality beans to be roasted for their beverages. These raw materials are critical in delivering that perfect cup of coffee that we all expect. To do this, they are in partnership with coffee growers in several different countries, which include Costa Rica, Mexico, Ethiopia and Columbia. As a best practice Starbucks has coffee bean farmer support centers in the areas that provide the beans. Each support center has resources for the farmers such as an agronomist, who can help the farmer with decisions regarding their crops.
Operations-Starbucks currently has over 28,000 stores in 75 countries. These numbers are astonishing to me, because it all started with just six stores in Washington. Starbucks has not only its free-standing coffee stores, but has also began to open up Teavana Tea stores, where consumers can purchase fresh full leaf teas. It seems as though there is a Starbucks everywhere you go. This is a part of their strategic positioning, to ensure that no matter where you are, they are always the most convenient coffee stop for consumers.
Outbound Logistics-Products are available at any licensed Starbucks store. There are a limited number of products that you can find at your local grocer or retailer, but you won’t find them to have the same freshness or experience as if you had purchased them from an actual Starbucks. Starbucks not only sells their products, but they also sell full lines of coffee and tea making machines, similar to the technology used in their stores. And those product offerings wouldn’t be complete without the inclusion of a Starbucks mug or insulated cup. Their products are complementary of each other, I can tell you their mugs are the best, they keep your coffee hot for far longer than any other mug, I really don’t know how they do it.
Marketing & Sales-Does Starbucks really need to market? Or do their products sell themselves? In my opinion, I think it sells itself. Because of their customer service, and offerings, I think that they have been able to get away with minimal marketing. You rarely see signage, or commercials for Starbucks, but yet their stores have lines out the door every time you go. I believe that a good customer experience and the positive things that a customer says about a company go far more than any amount spent on marketing can. Starbucks has recently increased their marketing with the development and implementation of their app based payment and ordering system. Customers now get emails or phone alerts to their upcoming promotions and seasonal offerings.
Service-Starbucks service is the cornerstone of it all. Without their hip cafes and welcoming baristas, I do not believe that they would be as successful. Every café is equipped with free Wi-Fi for its customers, charging stations for your phones or computers, and relaxing music. Their new app allows for ordering on the go, and a guaranteed time of when your product will be ready, usually in just a few short minutes. This delivers so much value to their customer base, because most people are stopping in a hurry, usually on their way into the office. The app also allows you to use it to pay in store, which earns you rewards for every dollar spent towards a free item of your choice. While working at Starbucks, I learned that it was also not uncommon to treat a customer to a free cup of coffee. I love this concept because it builds repeat customers and enhances consumer loyalty.
In regards to improvements, and increasing efficiency, I think they are very efficient, but no matter how profitable, a company always has room for growth. In future, I think that Starbucks has a huge opportunity to be able to diversify and enter into new market segments, such as they did with their Teavana Tea stores. The consumer demand for healthier options right now is huge, and I think that Starbucks has the means to diversify into that area of the market. I would also like to see such a profitable company give back more to society. I know that they are socially responsible in the countries in which they farm and operate, but giving back to communities, and community involvement would only further the loyalty of their customers.
Starbucks Value Chain
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