Starbucks: Performance Measures
Starbucks is indeed a ubiquitous part of modern society. However, Starbucks did not always possess this all-pervasive presence. There was a time, just a couple decades ago when Starbucks was not on every corner and not everyone knew about or frequented the coffee chain.
Community Giving
One of the fundamental elements which makes the balance scorecard of Starbucks so positive and the history of the company so compelling, is that it really is steeped in humanity. The founder and CEO of the company, Howard Schulz, explains this in copious examples in his book, "Onward: How Starbucks Fought for Its Life without Losing Its Soul." Schulz gives countless examples of the genuine attempts of Starbucks to funnel money and time to help support "local needs in the communities it serves, promoting sustainable farming communities and ethically sourcing coffee, and packaging and transporting its products with sensitivity to their environmental impact. It's also meant creating what Schultz calls a 'third place' between home and office, where people can connect with each other or spend time alone, comfortably and relatively inexpensively" (Schwartz, 2011). This is truly a tremendous service given to the community at large and one which should absolutely not be underestimated. Any company can give money to help develop the surrounding community where the business thrives so it in turn can thrive; however, the fact that Starbucks does this with such consistency and transparency is indeed admirable, and a factor no doubt, in its success. Too many people don't consider the sheer community development that the "third space"...
However, the company has in general enjoyed success overseas and as a result international sales now account for 27% of operating income (2010 Starbucks Annual Report). The international division remains a key source for growth at Starbucks, in particular the Chinese market, where Starbucks has enjoyed considerable success and now sits at over 500 stores. The company struggled in the mid-2000s due to two main factors. The first was the
A fourth foundational element is the strength of the Starbucks brand itself and is ubiquity globally. As a result of rapid and well-defined strategies for opening up retail stores, Starbucks is now considered one of the most preeminent and strongest brands globally. Starbucks has generated the strength of their brand through combining high-quality coffee and tea beverages with the third-place concept to generate customer loyalty and world-of-mouth among customers and their
Starbucks is a global quick service provider, one of the largest in the world, and the largest with a coffee focus. According to the company's latest annual report, it operates just over 23,000 stores globally, around 53% of which are company-owned. The rest are franchised. The franchise business model is utilized in many of the company's major markets, and has been a feature of some of its major international expansion
Proposed Ecosystem Hub for Starbucks Overview Each day, technologists working at Starbucks, in collaboration with other stakeholders, work on innovations that could only be described as groundbreaking. This is the team responsible for the unique Starbucks experience. However, without this level of dedication and inventiveness, Starbucks technology-centeredness would not have been possible. Thanks to these efforts, Starbucks now boasts of superior customer connection with the enterprise and continues to further promote customer
Finance Starbucks is engaged in the quick service food industry, primarily focused on coffee and related snacks. The company has come under strong competitive and economic pressures recently, and this has impacted its performance. However, Starbucks has turned around its financial performance in the past year, which has restored investor confidence in the company. Starbucks is both liquid and solvent. In the past year or so, they have improved their liquidity and
Marketing Plan Description of the Product The product is coffee, or specifically it is high end coffee, expertly roasted and made available to coffee shops, institutional customers and retail customers over the Internet. There are several elements to the product. The first is the beans, which are sourced from equatorial regions around the world. There are different breeds and cultivars of coffee available on the market. Coffee, like wine grapes, picks up
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