W7 Instructions For Capstone Project Part 4 Business Policy

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W7 Instructions For Capstone Project Part 4business Policy And Strateg

W7 Instructions for Capstone Project Part 4 Business Policy and Strategy Instructions for Capstone Project Part 4, see 3 attachment of the project 1-2-3- Please, see paragraph attachments to help you to preparing the project to open the Starbuck business in Costa Rica There are TWO PARTS to this week's Capstone Project Assignment. You MUST DO BOTH.

Assignment Part 1: It’s time to finalize your research and put together your final proposal. Below is the summary of what is required for the final written proposal. Project Part 4 is the final written analysis of your company’s strategic plan.

Be sure to include:

  • Summary
  • Executive Summary
  • Combine all of the previous project parts, incorporating any feedback received from your instructor into the final written paper.
  • Required Sections include:
  • Part 1: Introduction — Introduction and overview of your selected company along with an initial analysis of the growth opportunity, country of choice, mode of entry.
  • Part 2: Cultural Exchange and Marketing Strategy — Cultural differences, distribution methods, product/market, pricing, and positioning.
  • Part 3: Strategic Audit — Internal environment, external environment, strengths, problem analysis, recommendations and implementation costs, evaluation, and control processes.

Submit your final written analysis of the company’s strategic plan for the expansion opportunity overseas.

The entire project should be a minimum of 3000 words (body of the paper), APA style. Additional support items related to APA formatting (e.g., cover page and reference page) are not included in the word requirement. In your paper include a title sheet and 6-10 references. Only three references may be found on the internet (not Wikipedia). The other references must be found in the Grantham University online library. Please see rubric below.

Paper For Above instruction

The critical task of this capstone project is to develop a comprehensive strategic plan for Starbucks’ expansion into Costa Rica, emphasizing cultural integration, marketing strategies, and operational considerations. This extensive analysis consolidates prior project parts, incorporates instructor feedback, and offers a strategic roadmap aligned with global business practices. This paper is organized into three fundamental sections: introduction, cultural exchange and marketing strategy, and strategic audit.

Introduction and Overview

The initial section introduces Starbucks as a global coffeehouse leader with a significant brand presence across continents. Its expansion into Costa Rica, a country renowned for its rich coffee culture and sustainable practices, presents a promising growth opportunity. An initial analysis underscores the economic stability, market readiness, and cultural affinity for coffee beverages, suggesting a conducive environment for Starbucks. The country’s strategic location and trade agreements further support the selection as a viable market entry point.

Mode of Entry

The mode of entry into Costa Rica is primarily through franchising or joint ventures, considering the cultural nuances and market dynamics. Franchising provides a scalable approach that leverages local entrepreneurship, while joint ventures facilitate knowledge sharing, risk mitigation, and alignment with local regulations. A detailed analysis compares these options, emphasizing the importance of adapting Starbucks’ global standards to local preferences while maintaining quality and brand consistency.

Cultural Exchange and Marketing Strategy

Understanding cultural differences is crucial for tailoring Starbucks' offerings and marketing messages. Costa Rica’s cultural values, social customs, and coffee-centric traditions require a localized marketing approach that resonates with consumers. Strategies include culturally relevant advertising, community engagement, and alignment with sustainability initiatives valued by local consumers.

Distribution Methods and Marketing Mix

Distribution channels will encompass both physical stores and digital platforms, including mobile ordering and delivery services, responding to rising e-commerce trends. Product and market strategies involve customizing the menu to include local flavors and coffee styles, pricing strategies balanced between premium positioning and affordability, and positioning that emphasizes quality, sustainability, and community connection.

Strategic Audit

The internal environment analysis highlights Starbucks’ strengths, such as strong brand equity, global supply chain, and innovation capabilities. External analysis focuses on market trends, competitive landscape, and regulatory factors. Identified strengths include a loyal customer base, strong brand recognition, and innovative product offerings, while challenges involve local competition and cultural adaptation.

Problems Identified

Potential problems include cultural misalignment, supply chain disruptions, and regulatory hurdles. To address these, recommendations involve intensive market research, local partnership development, and adaptive marketing strategies. Implementation costs are estimated based on store setup, marketing campaigns, and operational infrastructure. Evaluation and control processes include periodic performance reviews, customer feedback mechanisms, and financial audits to ensure strategic objectives are met.

Conclusion

The strategic plan aims to position Starbucks as a beloved brand within Costa Rica’s coffee culture, emphasizing local relevance, sustainability, and operational excellence. The expansion will harness Costa Rica’s unique market attributes, leveraging Starbucks’ global strengths while embracing local traditions and consumer preferences.

References

  • Ghemawat, P. (2017). Redefining Global Strategies: Crossing Borders in a World Where Differences Still Matter. Harvard Business Review Press.
  • Hollensen, S. (2015). Global Marketing. Pearson Education.
  • Steers, R. M., & Nardon, L. (2012). Leadership in a Globalizing World. Routledge.
  • Yip, G. S. (2012). Total Global Strategy. Pearson Education.
  • Prahalad, C. K., & Hart, S. (2002). The Fortune at the Bottom of the Pyramid. Strategy+Business.
  • Thompson, A. A., Peteraf, M. A., Gamble, J. E., & Strickland, A. J. (2018). Crafting and Executing Strategy: The Quest for Competitive Advantage.
  • Grantham University Library Resources. (2023). Various scholarly articles and market analysis reports.
  • World Bank. (2023). Doing Business in Costa Rica.
  • Costa Rican Ministry of Foreign Trade. (2023). Opportunities for Foreign Investment.
  • Starbucks Corporation. (2022). Company Annual Report and Sustainability Strategy.

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