人民大2024战略管理（第13版）案例教师手册 david_sm13e_cn_13.docx

StarbucksCorporation-2009CaseNotesPreparedby:Dr.MernoushBantonCaseAuthor：SharynnTomlinA. CaSeAbStraCtStarbucksCorporation(www.S)isacomprehensivestrategicmanagementcasethatincludesthecompany'sFiscalyear-endSeptember28,2008financialstatements,competitorinformationandmore.Thecasetimesettingistheyear2009.Sufficientinternalandexternaldataareprovidedtoenablestudentstoevaluatecurrentstrategiesandrecommendathree-yearstrategicplanforthecompany.HeadquarteredinSeattle,Washington,StarbucksCorporationistradedontheNewYorkStockExchangeundertickersymbolSBX.B. ViSiOnStatement(ACtUaI)Toinspireandnurturethehumanspiritoneperson,onecup.andoneneighborhoodatatime.C. MiSSiOnStatement(Actual)OurCoffeeIthasalwaysbeen,andwillalwaysbe,aboutquality.We'repassionateaboutethicallysourcingthefinestcoffeebeans,roastingthemwithgreatcare,andimprovingthelivesofpeoplewhogrowthem.Wecaredeeplyaboutallofthis;ourworkisneverdone.OurPartnersWerecalledpartners,becauseit'snotjustajob,it'sourpassion.Together,weembracediversitytocreateaplacewhereeachofuscanbeourselves.Wealwaystreateachotherwithrespectanddignity.Andweholdeachothertothatstandard.OurCustomersWhenwearefullyengaged,weconnectwith,laughwith,andupliftthelivesofourcustomers-evenifjustforafewmoments.Sure,itstartswiththepromiseofaperfectlymadebeverage,butourworkgoesfarbeyondthat.Ifsreallyabouthumanconnection.OurStoresWhenourcustomersfeelthissenseofbelonging,ourstoresbecomeahaven,abreakfromtheworriesoutside,aplacewhereyoucanmeetwrthfriends.It'saboutenjoymentatthespeedoflifesometimesslowandsavored,sometimesfaster.Alwaysfullofhumanity.OurNeighborhoodEverystoreispartofacommunity,andWetakeourresponsibilitytobegoodneighborsseriously.Wewanttobeinvitedinwhereverwedobusiness.Wecanbeaforceforpositiveaction-bringingtogetherourpartners,customers,andthecommunitytocontributeeveryday.Nowweseethatourresponsibilityandourpotentialforgoodisevenlarger.TheworldislookingtoStarbuckstosetthenewstandard,yetagain.Wewilllead.OurShareholdersWeknowthataswedeliverineachoftheseareas,weenjoythekindofsuccessthatrewardsourshareholders.WearefullyaccountabletogeteachoftheseelementsrightsothatStarbucksandeveryoneittouches-canendureandthrive.MiSSiOnStatement(Proposed)OurCoffeeIthasalwaysbeen,andwillalwaysbe,aboutquality.We,repassionateaboutethicallysourcingthefinestcoffeebeans,roastingthemwrthgreatcare,andimprovingthelivesofpeoplewhogrowthem.Wecaredeeplyaboutallofthis;ourworkisneverdone.(2,7)OurPartnersWe,recalledpartners,becauseit'snotjustajob,it'sourpassion.Together,weembracediversitytocreateaplacewhereeachofuscanbeourselves.Wealwaystreateachotherwithrespectanddignity.AndWeholdeachothertothatstandard,ensuringthelatesttechnologyisimplementedforproducingsuperiorproductstoourloyalcustomers.(4,8,9)OurCustomersWhenwearefullyengaged,Weconnectwith,laughwith,andupliftthelivesofourcustomersevenifjustforafewmoments.Sure,itstartswiththepromiseofaperfectlymadebeverage,butourworkgoesfarbeyondthat.It'sreallyabouthumanconnection.(1)OurStoresWhenourcustomersfeelthissenseofbelonging,ourstoresbecomeahaven,abreakfromtheworriesoutside,aplacewhereyoucanmeetwithfriends.Ifsaboutenjoymentatthespeedoflifesometimesslowandsavored,sometimesfaster.Alwaysfullofhumanity.(6)OurNeighborhoodEverystoreispartofacommunity,andWetakeourresponsibilitytobegoodneighborsseriously.Wewanttobeinvitedinwhereverwedobusiness.Wecanbeaforceforpositiveactionbringingtogetherourpartners,customers,andthecommunitytotributeeveryday.Nowweseethatourresponsibilityandourpotentialforgoodisevenlarger.TheworldislookingtoStarbuckstosetthenewstandard,yetagain.Wewilllead.(3)OurShareholdersWeknowthataswedeliverineachoftheseareas,Weenjoythekindofsuccessthatrewardsourshareholders.WearefullyaccountabletogeteachoftheseelementsrightsothatStarbucksandeveryoneittouches-canendureandthrive.(5)CustomerProductsorservicesMarketsTechnologyConcernforsurvival,profitability,growthPhilosophySelf-nceptConcernforpublicimageConcernforemployeesD.EXtemalAUdltCPM-CompetitiveProfileMatrixStarbucksMcDonald*sDunkinDonutsCriticalSuccessFactorsWeightRatingWeightedScoreRatingWeightedScoreRatingWeightedScoreAdvertising0.0620.1240.2430.18TopManagement0.0730.2140.2820.14CustomerService0.0840.3220.1630.24TechnologicalAdvances0.0730.2140.2820.14InternationalMarketSales0.1030.3040.4010.10GlobalExpansion0.1030.3040.4010.10FinancialPosition0.1220.2440.4830.36Customer1.oyalty0.1040.4020.2030.30MarketShare0.0920.1840.3610.09ProductQuality0.0840.3220.1630.24Marketing0.0530.1540.2020.10PriceCompetitiveness0.0810.0840.3220.16Total1.002.833.482.15Opportunities1. Gourmetcoffeeconsumptionrosewiththedrinker'seducationallevel.Thosewhofinishedcollegebought49percentmoregourmetcoffeeonaverage,andthosewithsomepostgraduateeducationbought71percentmore2. SixteenpercentoftheU.S.adultpopulationconsumedspecialtyffeeonadailybasis,whereas63percentindulgedoccasionally3. Thegrowthinpopularityofspecialtyffeeshasincreased,asonly13percentand59percentofpeoplereporteddailyandoccasionalconsumption,respectively,in20024. Anothertrendthathassurfacedinthepastdecadehasbeenconsumerrequestsfororganiccoffees,andmoreemphasiswasplacedbyretailersonthegrowingenvironmentofthebeans5. Consumersarebecomingmorehealthconsciousandarelookingforsweatsandsnacksthatarelowincarbs!sugarandcalorie6. Internationalmarkethasastrongereconomyandaccordingly,consumerswouldbeabletopaypremiumpriceforspecialtyorgourmetcoffeeThreats1. The2007-2009globalrecessionnegativelyaffectedthespecialtycoffeeindustry2. Recenttrendshaveshownthatsomeoftheconsumingpublicisconcernedaboutthenutritionalvalueofsuchproductsasthoseofferedbythespecialtyffeesectorandhaveevenchallengedthecorrectnessofthelabelingandcalorieinformationpostedontheproductsavailableatretailoutlets.3. Volatilityintheslocksandcoffeepricecouldimpactthepurchasingpowerforthebuyers4. Smallercompetitorsareexpandingtheirmarketsaswellastheirproductlineofferings5. CompetitorssuchasMcDonald'sandDunkinDonutsarebemigstrongerinofferingspecialtyffeealongwithothercomplementaryproductsExternalFactorEvaluation(EFE)MatrixKeyExternalFactorsWeightRatingWeightedScoreOpportunities1.Gourmetcoffeeconsumptionrosewrththedrinker'seducationallevel.Thosewhofinishedcollegebought49percentmoregourmetcoffeeonaverage,andthosewithsomepostgraduateeducationbought71percentmore0.130.32.SixteenpercentoftheU.S.adultpopulationconsumedspecialtycoffeeonadailybasis,whereas63percentindulgedoccasionally0.0840.323.Thegrowthinpopularityofspecialtycoffeeshasincreased,asonly13percentand59percentofpeoplereporteddailyandoccasionalconsumption,respectively,in20020.0940.364.Anothertrendthathassurfacedinthepastdecadehasbeenconsumerrequestsfororganiccoffees,andmoreemphasiswasplacedbyretailersonthegrowingenvironmentofthebeans0.130.35.Consumersarebecomingmorehealthconsciousandare100kingforsweatsandsnacksthatarelowincarbs/sugarandcalorie0.0840.326.Internationalmarkethasastrongereconomyandaccordingly,consumerswouldbeabletopaypremiumpriceforspecialtyorgourmetcoffee0.0930.27Threats1.The2007-2009globalrecessionnegativelyaffectedthespecialtyffeeindustry0.120.22.Recenttrendshaveshownthatsomeoftheconsumingpublicisconcernedaboutthenutritionalvalueofsuchproductsasthoseofferedbythespecialtycoffeesectorandhaveevenchallengedthecorrectnessofthelabelingandcalorieinformationpostedontheproductsavailableatretailoutlets.0.0920.183.Volatilityinthestocksandcoffeepriceuldimpactthepurchasingpowerforthebuyers0.0720.144.Smallermpelitorsareexpandingtheirmarketsaswellastheirproductlineofferings0.120.25.CompetitorssuchasMcDonald'sandDunkinDonutsarebemingstrongerinofferingspecialtycoffeealongwithothercomplementaryproducts0.120.2Total1.002.79PositioninaMaoNumbercSxxes(High)McDonald'sStarbucksMarrowFVoduci1.<eOfferingWdeProductUneOtTefqDunkinDonutsNumberofStores(low)E.InternalAUditStrengths1. Starbucksexpectstoaddapproximately20netnewstorestoitsglobalstorebaseinfiscal2. 2009byclosingapproximately425company-operatedstoresintheUnitedStatesandaddingofapproximately60company-operatedstoresinternationally3. Thecompanyplanstoopenapproximately65netnewlicensedstoresintheUnitedStatesandapproximately320netnewlicensedstoresinternationally4. Capitalexpendituresforfiscal2009areexpectedtoremainunchanged,atapproximately$600million.5. 1.icensingrevenuesincreasedprimarilyduetohigherproductsalesandroyaltyrevenuesasaresultofopening438newlicensedretailstoresinthelast12month6. StrongmarketingandpromotionalcampaignsuchasproductplacementinmajorTVseries7. Starbucksalsoprovideselectricaloutletsand,insomestores,wirelessaccess,forcustomerswhomightneedtousetheirMP3playersorlaptopcomputers8. Starbucks'productscanbefoundinconveniencestores,grocerystores,departmentstores,movietheaters,businesses,schools,andevenairports9. StarbucksisratedbyFortuneasoneofthebesttop10placestowork10. StarbucksalsoencouragestheuseofitsWebsitewherecustomersareabletoregistertheirStarbucks'cards,receivenutritionalinformationaboutStarbucks'products,shoponline,searchforcareers,andmuchmoreWeaknesses1. 47percentdropinearningsinoneyear(2008)2. Forthe26weeksendingMarch2009,Starbucks'revenuesdecreased7percentto$4.95billionandnetincomedecreased72percentto$89.3million3. Moody'sInvestorsServicerecentlydowngradedStarbucks'creditratings4. TheU.S.companyoperatedretailbusinesscontinueddeterioratingtrends5. Forthesecondquarteroffiscal2009U.S.totalnetrevenueswere$1.8billion,adeclineof$131.5million,or6.8percent,duetodecreasedrevenuesfromcompanyoperatedretailstores6. ManyofStarbucks'InternationaloperationsareinearlystagesofdevelopmentthatrequireamoreextensivesupportorganizationrelativetothecurrentlevelsofrevenueandoperatinginmeintheUnitedStates7. Internationaltotalnetrevenueswere$433.7millionforthe13weeksendedMarch29,2009,downS59.7million,or12.1percent,comparedwiththesameperiodlastyear,primarilyduetotheimpactofastrongerU.S.dollarrelativetotheBritishpoundandCanadiandollar8. GlobalConsumerProductsGroup(CPG)totalnetrevenuesdecreasedby2percentto$94.8millionforthesecondquarteroffiscal2009,dueprimarilytolowermarginonsalesofpackagedffeeasaresultofdiscounting,aswellaslowervolumetothetradeFinancialRatioAnalysis(December2009)GrowthRates%WellsFargoIndustryS&P500Salos(Q:rvsyearagoqtr)3.700.70-4.80NetIncome(YTDvsYTD)23.9018.206.00NetIncome(Qtrvsyearagoqtr)2,677.801.832.1026.80Sales(5-YearAnnualAvg.)13.0514.1112.99NetIncome(5-YearAnnualAVgJ0.104.3412.69Dividends(5-YearAnnualAVgJNANA11.83PriceRatiosWellsFargoIndustryS&P500CurrentP/ERatio44.237.426.7P/ERatio5-YearHigh65.44.868.0P/ERatio5-Year1.ow16.11.59.9PriceZSaIesRatio1.751.932.25Price/BookValue5.625.243.48Price/CashFlowRatio18.4017.3013.70ProfitMargins%WellsFargoIndustryS&P500GrossMargin20.719.938.9Pre-TaxMargin5.79.010.3NetProfitMargin4.05.97.15YrGrossMargin(5-YearAvg.)22.321.238.65YrPreTaxMargin(5-YearAvg.)8.611.416.65YrNetProfitMargin(5-YearAvg.)5.67.511.5FinancialConditionWellsFargoIndustryS&P500DebVEquityRatio0.180.201.09CurrentRatio1.31.41.5QuickRatio0.91.11.3InterestCoverageNA9.323.71.everageRatio1.81.73.4BookVaIueZShare4.105.7721.632ntralrnsncomAVaP，EPrice/SaleSPrice，'BOOkNetProfitMarain(%)09'0924.501.514.844.009/0843.701.074.423.009/0736.102.148.477.110/0645.603.4711.567.510/0543.503.219.207.810'0440.703.677.607.3AdaptedfromWWWrTl09/0336.602.915.626.509/0240.102.544.736.409/0145.002.224.136.810/0067.803.556.564.3BookValue/ShareDebtEquityReturnonEquity(%)ReturnonAssets(%)InterestCoverage09/09$4.100.1812.87.014.409/08$3.390.5112.75.69.409/07$3.090.5529.412.627.610/06$2.950.3226.113.1106.410/05$2.720.1323.714.1NA10/04$3.110.0015.711.5NA09/03$2.630.0012.89.6NA09/02$2.220.0012.39.5NA09/01$1.810.0013.19.8NA10/00$1.530.018.26.3NAAdaptedfromWWWInternalFactorEvaluation(IFE)MatrixKeyInternalFactorsWeightRatingWeightedScoreStrengths1.Starbucksexpectstoaddapproximately20netnewstorestoitsglobalstorebaseinfiscal0.0640.242.2009byclosingapproximately425mpany-operatedstoresintheUnitedStatesandaddingofapproximately60company-operatedstoresinternationally0.0540.23.Thecompanyplanstoopenapproximately65netnewlicensedstoresintheUnitedSlatesandapproximately320netnewlicensedstoresinternationally0.0740.284.Capitalexpendituresforfiscal2009areexpectedtoremainunchanged,atapproximately$600million.0.0630.185.1.icensingrevenuesincreasedprimarilyduetohigherproductsalesandroyaltyrevenuesasaresultofopening438newlicensedretailstoresin0.0740.28thelast12month6.StrongmarketingandpromotionalcampaignsuchasproductplacementinmajorTVseries0.0940.367.Starbucksalsoprovideselectricaloutletsand,insomestores,wirelessaccess,forcustomerswhomightneedtousetheirMP3playersorlaptopcomputers0.0630.188.Starbucks'productscanbefoundinconveniencestores,grocerystores,departmentstores,movietheaters,businesses,schools,andevenairports0.0740.289.StarbucksisratedbyFortuneasoneofthebesttop10placestowork0.0430.1210.StarbucksalsoencouragestheuseofitsWebsitewherecustomersareabletoregistertheirStarbucks'cards,receivenutritionalinformationaboutStarbucks'products,shoponline,searchforcareers,andmuchmore0.0630.18Weaknesses1.47percentdropinearningsinoneyear(2008)0.0710.072.Forthe26weeksendingMarch2009.Starbucks'revenuesdecreased7percenttoS4.95billionandnetincomedecreased72percentto$89.3million0.0620.123.Moo<Jy'sInvestorsServicerecentlydowngradedStarbucks'creditratings0.0410.044.TheU.S.companyoperatedretailbusinesscontinueddeterioratingtrends0.0610.065.Forthesecondquarteroffiscal2009,U.S.totalnetrevenueswere$1.8billion,adeclineof$131.5million,or6.8percent,duetodecreasedrevenuesfromcompanyoperatedretailstores0.0420.086.ManyofStarbucks'InternationaloperationsareinearlystagesofdevelopmentthatrequireamoreextensivesupportorganizationrelativetothecurrentlevelsofrevenueandoperatingincomeintheUnitedStates0.0310.037.Internationaltotalnetrevenueswere$433.7millionforthe13weeksendedMarch29,2009,down$59.7million,or12.1percent,mparedwiththesameperiodlastyear,primarilyduetotheimpactofastrongerU.S.dollarrelativetotheBritishpoundandCanadia