It was 1971 when three partners opened the first Starbucks. The company began as a local roaster and retailer of whole bean and ground coffee, and as the business grew, it drew inspiration from the Italian coffeehouse tradition. Italian cafes are a place for conversation and conviviality, a stopover between home and work. This experience was something Starbucks wanted to bring to the United States. They had found their place. Following this, Starbucks quickly expanded and began opening multiple stores across the country, and soon after around the world. Since Starbucks' founding in Seattle, the company has grown exponentially. Starbucks is today the world's leading specialty coffee roaster and retailer, with more than 18,000 stores in 62 countries (Starbucks, 2014). This essay aims to discuss the company that is Starbucks, with a focus on its financial business functions. The discussion will include Starbucks' internal and external environment to better understand the company as a whole. As the company's focus is very much on expansion, this essay will conclusively seek to evaluate financial functions and their importance to this cause, as well as the problems these functions might face. External Environment Starbucks operates primarily in the retail coffee shop market. The UK cafe market alone is estimated at over 16,000 outlets and recorded a strong growth of 6.4% in sales in 2013 (FDIN, 2014). The branded coffee chain segment recorded a turnover of £2.6 billion, representing above-market sales growth of 9.3% (FDIN, 2014). The coffee shop sector has grown tremendously over the past 15 years and Allegra Strategies (cited in FD...... middle of document......in the most efficient and beneficial manner.• Technological advancements – Industry developments in the technology involved in coffee preparation and software used in cash registers will enable Starbucks staff to work more efficiently. The average waiting time for each customer will be reduced, allowing more service to be provided. of customers in a day This will improve customer relations and profitability Works Cited Starbucks 2014 Our Heritage [Online] Available: http://www.starbucks.com/about-us/our-heritage [March 24, 2014. ] The Food & Drink Innovation Network, FDIN, 2014. UK coffee market demonstrates strong sales growth [Online] Available: http://www.fdin.org.uk/2014/01/uk-coffee-shop -market-demonstrates-strong-sales-growth/ [March 25, 2014] Worthington & Britton, 2006. The Business Environment 5th ed. Harlow: Pearson Education Limited..