Case Study: Starbucks Corporation
Starbucks started through a partnership of three, with the desire of selling high-quality roasted coffee beans and equipment. Starbucks opens its first store in 1971, starting selling coffee (not just beans) to fine restaurants in 1982 and in 1984 serves its first Caffe Latte to the public. This is the genesis of the Starbucks Corporation that is known by the world today with its coffeehouse culture stores. In the 1990s Starbucks completes its IPO, and five years later opens its 2500th location and also opens its first store outside of North America. Starbucks also acquired Tazo Tea, launches their website, starts to sell the bottled Frappacino and Starbucks Brand in grocery stores. Starbucks continued to acquire pastry and beverage companies, make a push for ethical sources of beans and give quality experiences for their customers through unique atmospheres and digital platforms. Starbucks’s location count is at 27,339 stores as of the fourth quarter of 2017.
Interestingly enough, Starbucks’ vision and mission statements do not have to do with their coffee. Starbucks actually has a single statement that brings its vision and mission together, even though the statement seems more like a vision. Listed as their Mission statement, it writes that their mission is to, “To inspire and nurture the human spirit-one person, one cup and one neighborhood at a time”. Their vision sets place of what Starbucks does, service and sell “cups”, but also lifts its eyes to transcends above serving beverages alone, but also serving the human spirit.
Starbucks’ goals are found in their values. They desire to have a warm, welcoming environment for all, be courageous in growth of the company and each other while challenging the status quo. To be present, connecting with dignity and respect and to deliver their very best, holding themselves accountable for results. Starbucks also have goals centered on social responsibility as they want to source their product ethically and sustainably, create opportunities and strengthen communities in which they are in, and lead in Green Retail.
Overall, Starbucks’ strengths far outweighs its weaknesses. One of the most prominent strengths of Starbucks is its brand image. Starbucks has the biggest and most dominant hold in their industry and is the most popular, especially in America. Starbucks has a global reach in being in more than 75 countries with more than 26,000 locations making Starbucks have an extensive supply chain, along with their wide spread of global suppliers. Starbucks has a variety of products and services for customers such as, their beverage choices, food/pastry choices, product choices (beverage related equipment, coffee beans and services on a personal and industrial scale). Starbucks also has a variety of subsidiaries, such as Teavana, Tazo Tea, Ethos Water and Evolution Fresh juices. In the fourth quarter of 2017 Starbucks recorded a record $22.4 billion in revenue after...