Objective
This assignment aims to enhance understanding of the challenges face
Objective
This assignment aims to enhance understanding of the challenges faced by businesses during crises like the COVID-19 pandemic, using Starbucks Corporation as a case study. Students will analyze the company’s annual report, focusing on the importance of transparent financial disclosures during adverse times. This task will improve their ability to interpret complex business documents, articulate insights in written form, and apply this knowledge to make strategic decisions. It also highlights the role of ethical and effective communication in business, especially in adapting to and managing change during uncertain times.
Background
Many companies have been affected during the COVID-19 global pandemic. In particular, Starbucks Corporation (NASDAQ: SBUX) noted in its annual report, “Our financial results have been and could continue to be adversely affected by the impact of the COVID-19 pandemic, which has resulted in a disruption of customer routines, changes to employer “work-from-home” policies, reduced business and recreational travel, and changes in consumer behavior.”
Visit this https://www.sec.gov/ix?doc=/Archives/edgar/data/829224/000082922421000086/sbux-20211003.htm to an external site. to Starbucks Corporation’s annual report for the year ending October 3, 2021 (Or you can access the report attached to this discussion board Starbucks 2021 10K.pdf) https://cerritos.instructure.com/courses/79950/files/8904636?wrap=1
Question
Suppose you are the chief financial officer (CFO) responsible for the financial statements of Starbucks Corporation. Why is it important to disclose the adverse impact COVID-19 has had on Starbucks Corporation’s business and financial results? What would you do?
Please arrange your answers in a 2 – 4 page report.
Assignment Format Requirements:
1. Cover page: should include Assignment Title, Your Name, Course Name and Code, and Submission Date.
2. Formatting:
Font: Times New Roman
Font Size: 12pt
Line Spacing: Double-spaced
Margins: Standard 1-inch margins on all sides
3. Citation of Sources: All sources of information must be properly cited utilizing APA style. Include citations for any ideas, facts, or information that are not your own.
4. The required page count does not include the cover page and the reference page.
5. Ensure clarity and conciseness in your writing.
View Rubric