This paper contains business assessment of internal and external factors at Starbucks Company. Internal factors of the company are strengths and weaknesses of the company while external factors comprise of the threats to the company.
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Assessment is considered essential as it provides information to the management on how performance can be improved even in the future. Four functions of management at the Starbucks Company can be affected by both internal as well as external factors. Resources at the company need to be utilized in an effective and efficient way within the company.
Current practices at Starbucks Company are also discussed in this paper where role of the human resource is more entrenched on the strategic roles of the company. The company has embraced technology in its operations. Human resource is charged with mandate of recruiting and selection where they have to make sure that only the best are selected. At Starbucks Company, maintenance of the employees needs to be at the level that guarantees job security and satisfaction to the entire workforce of the company. These new trends affect business strategies and human resource.
Recommendations for increasing success factors of the business are for Starbucks Company to make investments on the execution infrastructure in some of its ventures. The processes that the management engages in should ensure that they have high probabilities of success. It is also vital that the human resource engages in those decisions that have major and long-term effects on the employment workforce. Those strategies at Starbucks Company need also to be innovative and imaginative, clear, actionable, selective and flexible. Human resource managers of Starbucks Company are mandated with roles and responsibilities in ensuring that the company achieves its objectives and goals.
Assessing Business Strategies in the Light of Internal and External Factors
Business assessment of Starbucks Company looks at the internal and external operations of business. External assessment involves threats in the business and external factors. Internal assessment looks at the strengths and weaknesses in the business including strategies, technology, marketing, finance and human resource. An assessment is important as it provides the management with information on the performance and focuses on implementing strategies that will promote future growth. It is usually recommended that assessment should be done annually, where the owner of the business and the management meet face-to-face.
A sample of business assessment of the Starbucks Company includes the positives about the business. Here successes of the business are lsted down and this also includes those things that are working in favor of the business. Another thing included in the business assessment is the list of challenges that are facing the business. Finally, the assessment list contains the reasons as to why the business is facing challenges.
The Starbucks Company management has four functions that include organization, leadership, planning and controlling. Functions of the management can be affected by both internal and external factors that may be present in the business. External factors include sociological issues such as work ethics, personal values and the emerging trends. Information on the external factors affecting business helps the management understand the uniqueness of the business environment and also to plan for the future.
Suppliers, customers and competitors comprise of the external factors of the business. Technology as an external factor can have dramatic effects on the business, especially when it changes. It is thus very important that business becomes flexible so that it will be able to cope with changing technology.
Internal factors in the business include all the organizational resources available to help the business achieve its objectives and goals. Resources available in the business include human, physical, technological and financial resources. The management at Starbucks Company is required to have all these resources and also use them effectively and efficiently within the business organization.
Current Practices of Human Resource Management in Relation to the Business Strategies
The human resource department at Starbucks Company currently has more defined role in the strategic roles of business. Strategies in human resource involve executive leadership sides deliberating with experts in human resource in an effort to develop complementary goals that will be useful not only to the human resource but also to the entire business. The human resource department is usually responsible in the recruitment and selection process. It should have appropriate strategies so as to ensure that there is a productive workforce. The strategies used in recruitment and selection should ensure that it selects the best employees. The workforce also needs to be maintained at the level that guarantees job satisfaction and security to the workforce so that the business goals can be achieved.
New trends in the business at the company affect human resource and business strategies. Business managers are now blending human resource strategies with the business strategies. The human resource technologies are now becoming important in advancing the needs of the business. They not only support transactions that occur in the business but also take into consideration future of the business. It can be argued that the information systems present in human resource are useful in developing performance management, recruitment and selection processes.
The relationship between business strategies and human resource is equated to the quality of interaction between managers in human resource and the company managers. It has been determined that various factors influence the relationship between the business strategies and human resources. It is thus important for the managers to derive benefits acquired from aligning goals in human resource with goals of the business.
Recommendations for Increasing Success Factors of Business
For Starbucks Company to witness growth, it is required to strengthen its execution infrastructure by investing in those ventures that may be considered safe. The company infrastructure should support those executions that are regarded as successful. All the indicators and performance drivers that may indicate success need to be utilized as well as promoting the growth of leaders in the business in the managerial and non-managerial positions. The management should start processes that those strategies that can lead to high success probability.
The human resource strategies are concerned with decisions that have major and also long-term effects on the employment. Strategies in the human resource address intentions of the business and how it will manage its human resources. There are some key requirements in human resource strategies where it is required to be justified from the business strategy.
The human resource strategies at Starbucks Company need also to be innovative and imaginative, clear, actionable, selective and flexible. It should, however, be noted that there is no single standard format of the statement of human resource strategies. The strategies entirely depend on the circumstances. However, key issues in the human resource strategies can be justified by business strategies.
The human resource department at Starbucks Company has a role towards achievement of goals of the business. As professionals, they have roles and responsibilities within the organizations. They formulate strategies that are used in recruiting and retaining employees. The human resource professionals also ensure that business products are promoted widely. Professionals in human resource help the businesses save costs by developing assistant programs. Advancements in technology promote the need for programs that are highly developed that representatives in the human resource are best qualified to implement.