Reference no: EM133183956

Provide Updated information on Starbucks. Provide an external, internal analysis and recommended strategy per instructions below.

1.The external analysis of the firm, which describes the institutional and industry context in which the firm must compete. A thorough external analysis will first address the general environment, recognize challenges and opportunities faced by the company, then look at the industry dynamics and competitive market. The Porter's 5-forces model is a good tool to organize your work when defining the competitive environment.

2. The internal analysis of the firm describes the strengths and weaknesses the firm. What resources can a firm leverage against its competitors and/or to tap new markets? What resources can a firm complement its partners? What weaknesses might we see that will handicap the firm in the future? What are the key strategies the firm is pursuing? Assess the company's current business strategy.

3. The recommended strategy. Having analyzed the firm, you should have an idea of what strengths the firm should be leveraging and you can look again at the external environment to see what opportunities it should pursue. In many of the cases, the firm in question is contemplating, or has implemented, several specific strategic actions. Propose recommended strategy to the company. Explain why you believe this is the best option for the firm.