According to the annual reports for Starbucks and Costa for 2021 and 2022. Required: Identify, compare, and contrast their corporate and business strategies based on the mentioned guidelines. ( not less than eight pages) Assessment criteria a. Good clear writing style and structure. b. Discussion of each company’s corporate and business strategies for the two years using techniques and concepts covered in Advanced Studies in Managerial Accounting c. Clear discussion that compares and contrasts the two corporate and business strategies identified in part b. Here are some guidelines for the point that I want to cover: Strategies Overview for Starbucks and Costa 1. Management’s Discussion and Analysis (MD&A) – Starbucks – **Purpose**: Provides a comprehensive overview of Starbucks’ performance and financial health. – **Key Components**: – **Performance Overview**: Discusses past performance and current financial conditions. – **Future Projections**: Management shares forward-looking statements about market trends and operational outlook. – **Risk Disclosure**: Highlights uncertainties affecting liquidity and future results. – **Strategic Insights**: – Focus on understanding financial fundamentals and management’s insights. – Emphasizes transparency in financial disclosures to attract investors. 2. Management Commentary – Costa – **Purpose**: Enhances understanding of the business environment and strategic direction. – **Key Components**: – **Nature of the Business**: Defines the core operations and market position of Costa. – **Management Objectives**: Outlines strategic goals for growth and market expansion. – **Significant Resources and Risks**: Identifies critical assets and potential challenges. – **Performance Measures**: Discusses key performance indicators (KPIs) used for evaluation. – **Strategic Insights**: – Emphasis on highlighting trends and significant events impacting operations and capital resources. – Focus on the importance of effective management reporting to guide decisions. 3. Corporate Governance Reports – **Board Composition**: Information about the diversity and expertise of the board members. – **Audit and Risk Committees**: Insights into how risks are managed and compliance with regulations. – **Best Practices Compliance**: Commitment to corporate governance principles that enhance accountability. 4. Industry and Economic Context – **Relevance**: Analyzing industry performance and economic conditions helps contextualize financial results. – **Benchmarking**: Compare performance against peers to assess competitive positioning. 5. Interim Reports – **Purpose**: Provide updated financial performance and insights between annual reports. – **Significance**: Keep stakeholders informed of recent developments and operational adjustments. 6. Press Releases and Analyst Presentations – **Earnings Announcements**: Key updates on financial performance that can influence stock prices. – **Analyst Engagement**: Presentations help convey strategic vision and address investor concerns. 7. Competitive Strategy – **Starbucks**: – **Differentiation Strategy**: Focus on brand loyalty, superior customer service, and unique product offerings. – **Costa**: – **Cost Leadership Elements**: Efficient operations to minimize costs while maintaining quality. 8. Cost Management and Competitive Advantage – **Starbucks**: – Aims to balance cost control with premium offerings to maximize profit margins. – **Costa**: – Strives to reduce costs below competitors while enhancing customer satisfaction. 9. Strategic Management Accounting (SMA) Components – **Strategic Cost Management (SCM)**: Focus on efficient resource allocation and cost control. – **Strategic Revenue Management (SRM)**: Strategies to maximize revenue from various channels. – **Strategic Performance Management (SPM)**: Evaluation of overall performance against strategic goals. 10. Resource Planning – **Starbucks and Costa**: – Allocation of resources across divisions to support strategic objectives. – Importance of sustainability in resource and supply planning. — This illustration captures both companies’ key strategies and elements based on the sections you provided. You can expand or condense any part as needed for your assignment!
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