Innovation plays a vital role in the organisation as every enterprise need to do when they start up their new life of business with the innovation and effective strategies. Thus, transfer a innovative ideas into the various different structures for the main purpose of utilising the new development opportunities in the innovation. Starbucks is the best example in which they understand the innovation and blend of strategy. They are majorly known as a unique strategy they choice under the blue ocean company it was capable to capture an effective market share and growth earlier. For the purpose of inspiring the most new entrepreneurial opportunities and the framework of innovation to be discussed in this project report. The main objective under the topic of innovation and strategy in which its is driving forces that enable the Starbucks to obtain the market position and capture a market share (Skålén and et. al., 2016). There is an also a critical analysis are to be discussed under which they have to performed for attributes understanding under which they have to contributed to organisation's success after adoption and application of blue ocean strategy.
a) Key drivers, entrepreneurial opportunities, strategy and innovation frameworks
Main driver of innovation
Each and every new entrepreneur, innovation and business strategies they are inseparable terms. It is the most necessary in which both employer and employee are able to handling the situations under the innovation and creativity. There are main drivers that are adopted which are as discussed below-
Developing talent- It is a most important of development as well as innovation which can be included under the human resource or manpower through establishing the fresh talent. Therefore, it is an individual responsibility of the company in which they are mainly recognising the fresh talent that can be possible through the conducting the training and development programs. Thus, Starbucks is an organisation under that it include a fresh talent as well as creativity worker. Thus, it is an entertainment organisation in that they are brining the new ideas as well as various innovative ways through which the customer or audience does not feel getting bored as they enjoy and fun (Mentink, 2014). Thus, they not feel bored with the repetitive acts. Thus, under this creative process in which the people act as innovative and therefore they sometimes feel that they are come up with new ideas and innovative things.
Establishment creativity- They go with the creative and innovation in which they create a friendly environment at the workplace in which there is a brainstorming in that they develop creativity. There are three main elements are the motivation, technology and knowledge through they can come up with the new ideas. Thus, the another elements that impact negatively at the workplace is that are the stress and pressure which break the new ideas (Hussain and et. al., 2013). Starbucks establish a creative environment through which they deliver an efficient resources that assist them in establishing a better innovative ideas that can be implemented in the entertainment acts and while at the time of culture.
Develop and maintain the relationship- Each and every company are come up with the team in which the organisation have to resolve all the barriers they bring up at the time of functioning of these team. Therefore, adopting the new methods are the most vital in the team member within the organisation that are establish the effective bonding relation. Therefore, it is the most vital to encourage the effective internal environment of the company.
Encourage the fresh culture- Culture is the most important factor under which it directly affecting on the the organisation. Thus, the enterprise have to develop or initiating the innovation by develop modernisation in the culture. Thus, at the time of innovation culture that can be not highly informed within the workers. There is a overload as well as monotonous work style and regular routines that are in just to induce the refreshment.
Enforcing limits- The Comfort is the most important part that uplifting the organisation and the Starbucks does not loose their comfort zone. Thus, it become possible to them to attain the brand recognition in effective manner all over the world. Thus, if the limitation are to be extended, people put their more efforts in the work and increase in the hard work. Thus, it will directly impacting on the business in a positive manner and also improves performance of both employer as well as employee (Thijsen, Tong and van Leer, 2014). Thus, if there is a repetitive work of assignments are included in its work, the workers are come up with the new innovative ideas they are unique in the workplace. Thus, it can be said they are come up with the new innovation ideas in that particular circumstances that assist them in identifying the future bearer for the organisation.
Starbucks is a highest quality of Coffee under a American Company under which it explore the new entrepreneurial opportunities. Thus, it is the best example how the entrepreneurial enhancing its skills and knowledge for their own benefits that help them to obtain a gaining position which can used through anyone at that time when the strategy planning and innovation are going to be stopped. Thus, there are some various entrepreneurial attributes that are needed to established of Starbucks that are as described as follows-
1. Great purpose- The main purpose of Starbucks is that to enhance the quality in which they induce the finest beans of coffee through they can enhance the live of the people. Thus, they engaged with the customers in which they share few moments of laugh and uplifting the lives of customers(Baporikar, 2015). Thus, its purpose assist in ignoring the diversions that gives harm to the entrepreneur. The orientation is the most important purpose in that they earn huge amount of profitability that are the main goal as they are not a main purpose. Thus, it will give success but not in longer time period.
2. Creative workplace- Workplace is the most important part of the organisation under that the firm have to satisfied highly with the working situation. Thus, if the team would be more creative that it will enhance the chance of creativity. Thus, unique strategies and problem solving methods give the various advantages that leads to increase creativity within the workplace. Thus, it is main moral of employer responsibilities that make sures that there is a credibility in the workplace.
3. Take risks- Being as a entrepreneurial that include the major risk as there no support regard to securities investment when opened up a new business. Thus, there is an already presence of various MNC that are the major biggest threat factors for the smaller and micro level enterprises. Until the organisation gaining the brand image, development of new goods or services and minimum popularity is the main risk (do Rosário Cabrita, Matos and Cruz-Machado, 2015). Thus, but they are implemented effectively which can gives them a huge amount of profits. The entrepreneurial have no threat regard to risk and as they develop a coffee firm with the dedication power and creativity at the maximum extent. Thus, if the unique strategy is going to be implement that gives them to gain the better standards and give them success in a quick manner.
There is an need of business growth in that that are very essential and important part of the organisation. Thus, the success is not so, effective only due to development of new innovation ideas and implementing the strategies that it does not get any responsibilities on the off shoulder. Starbucks establish and adopted a strategies through using the growth matrix tool under which there is a Ansoff matrix (Clark and et.al, 2015). Thus, it will assist in analysing the all the areas where there is a growth opportunities and it induce the to growth in the single segment. Ansoff's matrix that is a 2*2 matrix under which there is a scaled on the target markets and goods of a firm. It can be categorised into the various parts that are as follows-
1. Market development- There is an various new areas as well as new segmentation of this particular existing markets which are being targeted and explored through the firm within its existing goods or services. It that manner there is a particular development strategies are to be used. Thus, it does not involve any kind of risks as it is more easier and comfortable in that manner due to which its will enhancing the firms growth as the same kind of goods that has been already succeed and adapted that was used. There are various types of marketing and sales that can adopted under this particular