Starbucks Corporation has been a giant in the coffee market for several years. Competition in the eatery sector is becoming extremely competitive due to innovations, taste, and preferences among other significant factors. Players in the industry such as Starbucks have to come up with new ideas that will help their organization remain relevant and fashionable in the industry. This calls for new entrepreneurial opportunities such as;

1. Investing in fast-growing economies- investing in such economies is an excellent opportunity for growth. In such an economy, there is an increased literacy level; employment is also high translating to high purchasing power, there is also an excellent entrepreneurial spirit; infrastructure is developed among other factors which will help in making the business a success in such regions.
2. Introduction of mobile order and pay- as time goes by; people are increasingly avoiding hustle when it comes to being served. By researching trends in the eatery sector, casual dining has been overtaken by mobile order and pay. People prefer getting their meals wherever they are whenever they want. Offering such a service is very important in attracting more customers and increasing sales. Especially for coffee lovers with hectic schedules.
3. Investing in a bakery- Taking coffee only may not be preferred by most customers. There is a need for spending on a bakery that will supplement coffee with cakes, bread, and other foodstuffs. It will help the Corporation maximize its sales
4. Introducing other delicacies – the company needs to invest in incorporating other treats in their menu especially lunch dishes such as barbecue, chicken, and soups. It should also include a varying range of drinks such as sodas and tea. The move to increase the variety of delicacies can be of great benefit to the company since it will attract even non-coffee users reducing opposition
5. Introducing region-based foods- as mentioned in PEST analysis, the company is opposed in some regions due to the choice of dishes. There is a need to enter foodstuffs that are loved in an area to gain trust and attract customers, and it will make them feel considered.
6. Target cold regions- Coffee in most cases is highly consumed in the cold areas compared to warm and hot regions. Cold areas are a very viable entrepreneurial opportunity. It will help increase sales and provide consistent supply and demand.
7. Opening outlets in big institutions – Large institutions such as universities is a very viable entrepreneurial opportunity due to a constant high population creating high demand and increased sales. Investing in regions with a low community will affect sales due to weak demand. This means a high society is a significant investment opportunity.
8. Target filling stations and bus stops- In bus stops, people may have a minute or two to grasp a drink. Offering takes- away coffee drinks in such areas is a perfect investment opportunity due to the available market.

Entrepreneurial assessment

Investing in rapidly growing economies is the most viable entrepreneurial opportunity for the corporation. Rapid growing economies create a good business environment in various ways.  In a growing economy, several factors are improved creating room for a competitive business environment. These factors include; improved infrastructure, employment rate, security, literacy levels, and living standards among other economic aspects. This aspect s play an important role in determining the other economic factors mentioned above. Starbucks Corporation should observe regions experiencing economic growth in the expansion of its outlets.

Economic growth rate influences the following;

• Job creation- Growth creates new jobs. Increase in employment rate will translate to income and purchasing power of the general population will be high. Investing in such an environment is encouraged by purchasing power. Thus the corporation can take advantage of this factor by investing in the region
• Improved infrastructure- operating in a situation where infrastructure is good is cheap and convenient. Poor support discourages business due to production cost, supply among other factors. Once the foundation is good, the corporation can smoothly run its business.
• Improved literacy levels- Economic growth influences education leading to improved literacy levels. Literate people are easy to deal with in business since they can be informed of different products reducing resistance. Training of literate people is straightforward and cheap. This is very important when dealing with customers and hiring employees.
• An improved living standard is a characteristic of economic growth. This influences leisure activities and embraces of new products in the market creating a competitive environment. Leisure activities such as group meetings for fun encourage more customers.
• Most growing economies have a stable political system. In business, a stable political situation is crucial since it will help in avoiding losses caused by political unrest.
• The entrepreneurial spirit is encouraged in a growing economy. This is mainly because there are laws that are put in place to protect business and property and hence reducing opposition and unfair practices that may be put in place by individuals to frustrate the industry.
• In a growing economy, there is an excellent interaction between people of various regions thus making it easy for people to embrace new products such as coffee which may not have been in their market traditionally.
• Growing economies also characterize a cheap and reliable workforce. The unemployment rate is still experienced hence getting trained competitive workforce is very easy reducing production cost and maximizing profits.

The best example of the importance of investing in a growing economy is Starbucks number one foreign market China. China is one of the fastest developing economies in the world. The company has experienced an immense profit in investing in the region. According to 2018 fourth-quarter report, the company reported $0.62 per share on $6.3 billion revenue which is beyond the company expectation of $0.60 per share on $6.27 billion in revenue. The Corporation has also opened more than 2500 outlets in China indicating good investment opportunities in growing economies.

Trends affecting the global eatery sector

Millennial goals are one significant trend impacting the eatery sector including coffee business. With an increase in lifestyle diseases such as diabetes, cancer, and obesity among other conditions, people are becoming more cautious about the foods and drinks they take. This trend is affecting the demand for some products. Coffee has not been left out since it believed that too much intake of coffee is harmful to one’s health especially for young ones and pregnant women. This has an impact on sales in a negative way.

A change in technology is another significant trend affecting the eatery sector. Each other day, there are new developments in technology affecting service provision and supply. Players in the industry have to adjust to the latest trends to be more competitive in business. A good example is the introduction of mobile orders pay and supply. Most customers embrace this trend due to convenience compared to casual dining.

Political instability is affecting almost all businesses including the eatery sector. In the recent past, there has been political unrest even in developed countries. This creates a bad business environment since it may result in damage to business premises, poor customer turn-up, risking the life of employees among other factors. A good example is 2015 United States politics where Trump a presidential candidate then told his supporters to boycott Starbucks outlets since his ideologies were in contrast with Starbucks leaders. Starbucks wanted to bring in more refugees to work for the Corporation. This ideology contradicted Trump ideology.

Environmental trends are also affecting the eatery sector. With an increase in climatic changes and environmental cautiousness, new laws are introduced that are in favors to a favorable environment. A good example is a ban on plastics. Plastics are used in the eatery sector in no small extent. A good example is the use of plastic takeaway coffee cups. With the bun of these plastics, players in the industry have to come up with other products that serve the same purpose and are environmentally friendly. Climatic changes are also affecting the consumption of some foods. An example is the consumption of hot drinks is reducing due to increasing environmental temperatures.

Social trends are also affecting business in the eatery sector by a great deal. In the past, people embraced social gatherings and had time to meet for a cup of coffee or lunch or dinner. This is changing with the widening of the social gap. People are becoming busy with their career and personal ventures due to increased bills and expenses. This is, in turn, hurting the eatery business due to reduced customers.

Purchasing power is another changing trend in the eatery sector. With unemployment and increased bills and cost of living, people are increasingly reducing the number of meals they take per day. This affects eatery business since consumers are more cautious on budget and are cutting down on consumption.

Witch-hunt is another emerging trend in the eatery sector. Competition is drastically becoming very stiff in eatery business. Some players use crude means to change the perception of consumers regarding their competitors. Allegations of use of inferior goods or harmful goods or customer harassments are used to taint images of some players unfairly and to glorify others. This trend is affecting good competitive advantage in eatery business.

Duplication of ideas is a trend that is so common in the eatery sector. Once an organization or individual comes up with a plan that is projected at increasing sales and its competitive advantage, all the other players immediately take up the idea and personalize it. Its good for growth but in the long run, it kills the innovative spirit.

Impact of global trends in the eatery sector to entrepreneurial opportunities

Mobile order and pay is an entrepreneurial opportunity that I identified. But with the constant change in technological trends, there will be more advanced technologies in the future which may make this opportunity obsolete due to better options. Even though it’s currently an excellent investment opportunity, its future is blurred. It’s a solution that will naturally experience changes in the future.

Introduction of other delicacies such as soups, meat products tea, sodas is also an essential entrepreneurial opportunity that I identified. With increased health cautiousness and millennial goals that are affecting coffee consumption and consumption of other dishes, the corporation can remain relevant in the eatery sector by incorporating dishes that are healthy attracting the millennial generation.

Purchasing power is another changing trend in the global environment. Due to the high population, unemployment and constant increase in the cost of living, investing in underdeveloped regions may not be an excellent business opportunity since the cost of production may be above sales due to low demand.

Change in political trends and political instability affects all the mentioned entrepreneurial opportunities. An unstable political environment may lead to chaos, which results in the destruction of property and injury to employees. This is a terrible trends, and hence there is a need to invest in a politically stable environment above other factors. A business should also at all costs avoid being at the center stage of any political drama such as taking sides as Starbucks did in 2015 politics by taking Hillary Clinton side against Donald Trump. That on my personal opinion with entrepreneurial knowledge was no9t a good move.

Witch-hunt also affects all the mentioned entrepreneurial opportunities. All the suggested opportunities are projected at increasing profits, customer base, and a higher competitive advantage. The coffee business is becoming more and more competitive. These entrepreneurial opportunities will give the Corporation an upper hand compared to its competitors making them a victim of witch-hunt that may impact business negatively.

All the above entrepreneurial opportunities are aimed at improving competitive advantage against competitors, but it will not last for long due to the trend of duplicating ideas. All the other players will take up the idea of creating a constant need for more advanced entrepreneurial opportunities to improve competitive advantage.

How trends affect the sustainability of Starbucks business

Starbucks Corporation is opening outlets in a wide range of regions. Even though prior research on political stability is done, it’s challenging to determine how the political environment will be in the future. With the changing of political trends even in very stable economies, investing in any region is becoming a gamble when it comes to politics.

Millennial goals and health awareness are affecting Starbucks business directly. The Corporation is all about coffee and coffee is among the products that millennial are considering unhealthy due to caffeine. Coffee intake, especially daily, is strongly discouraged by millennia’s. This is hurting Starbucks business to some extent.

Duplication of ideas is a trend that Starbucks can take to its advantage. Since this trend is unavoidable in the industry, Starbucks can research what other competitors are doing since it’s not easy to run in the business with individual ideas. These ideas will help the corporation reduce the cost of trying out if some new ideas are sustainable since other players will have done this.

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