Executive Summary
1. Starbucks: Company background
1.1 Introduction
Howard Schultz bought over Starbucks in 1987, thus becoming its president and CEO. Under his astute stewardship, Starbucks has grown phenomenally in statue to become a multinational specializing in the specialty coffee market, with 10,241 store locations and profits of $494.5 million by 2005.
1.2 Vision and Mission
Howard Schultz’s original vision for Starbucks was:
- To be the premier purveyor of the finest coffee
- To become a national company with values and guiding principles that employees could be proud of
- To become the world’s most respected brand name in coffee
- To be admired for its corporate responsibility
This vision later evolved into “The Starbucks Experience”:
“You get more than the finest coffee when you visit a Starbucks ' you get great people, first-rate music and a comfortable and upbeat meeting place. We establish the value of buying a product at Starbucks by our uncompromising quality and by building a personal relationship with each of our customers. Starbucks is rekindling America’s love affair with coffee, bringing romance and fresh flavor back to the brew.”
Starbucks’ mission statement is: “To inspire and nurture the human spirit— one person, one cup, and one neighborhood at a time.” Starbucks is also committed to a role in environmental leadership in all facets of their business.
The vision of the Starbucks Experience is both vivid and easily comprehendible. The mission statement further elaborates on the company’s purpose by stating specifically how it deals with its stakeholders. Both vision and mission statements are well defined and Starbuck’s strategic actions are seamlessly aligned with them.
1.3 Core Values
“To build a company with soul” ' Starbucks would never stop pursuing the perfect cup of coffee. Thus, they were against franchising so as to ensure quality standards across stores, they do not use artificially...