Fin 370 Week2 Team Assignment Starbucks Essay example

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Pages: 5

STARBUCKS PLANNING 1 To understand the relationship between strategic and financial planning we first need to determine both of their meanings. The definition of strategic planning states that it is a “systematic process of envisioning a desired future, and translating this vision into broadly defined goals or objectives and a sequence of steps to achieve them.” Strategic planning is a management tool that helps an organization focuses its energy, to ensure that members of the organization are working toward the same goals, to assess and adjust the organization’s direction in response to a changing environment. In short, strategic planning is a disciplined effort to produce fundamental decisions and actions that …show more content…
He will be implementing a new brewing system and espresso machine to deliver top quality and amazing taste
STARBUCKS PLANNING 3 to the customers. He also will be implementing reward programs, websites to start an online community and other methods to ensure that the Starbucks experience is like no other. The initiative affects the organizations financial plan in a number of different ways. First financially the Starbucks company needs to focus on the money they are spending to put these strategic plans into action. They also will need to develop a break-even point to help them determine when they have made their money back and when they will start bringing in profits. Second these strategic planning