History of Starbuck’s:
Starbucks was founded in 1971 in Seattle’s: Pike Place Market, by Jerry Baldwin, Zev Siegel, and Gordon Bowker, each sharing a love for fine coffee and exotic teas. In 1981, Howard Schultz was first introduced to Starbuck’s, and became hooked after three sips. Throughout the year Schultz had meetings with Baldwin and Bowker and in 1982 Howard Schultz joined Starbuck’s as the head of retail and marketing operations. During a trip to Milan, Italy Schultz discovered a market for freshly brewed coffee, espresso and cappuccino. Upon his return home, he brought this new idea to Baldwin and Bowker but encountered strong resistance when he shared his thoughts on modifying the format of Starbuck’s stores. Schultz left Starbuck’s in 1985, to start his own coffee-bar business, II Giornale and in 1987 acquired Starbuck’s assets with support from its investors, and changed its name to Starbuck’s Corporation. In 1991 Starbuck’s corporation became the first privately owned U.S. Company to offer stock options to include part-time employees and in 1992 made its initial public offering (IPO). As the company continued to grow (currently at 425 stores) they were able to open their first drive-thru location in 1994. From 1996-2013 Starbuck’s corporation continually opened stores world-wide growing to a total of 19,767 stores.
One of Starbuck’s greatest strengths is their strong market position and global brand recognition. With operations in over 62 countries and 36.7% of the market sh...
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...ders. All of these principles contribute to the business strategy of Starbuck’s.
Structure and Controls:
Starbuck’s has a very detailed organizational structure, with Howard Schultz as the CEO and chairman of the company. Starbucks uses a Business Ethics and Compliance program which distributes awareness materials to employees. Another control is Starbuck’s financial controls, they understand that profitability is a key to their success.
I would recommend Starbuck’s take a closer look into the international market and consider further expansion. Also, Starbuck’s would be smart to look into expanding their product line to include fresh juices and smoothies as this is a growing trend in today’s market. Lastly, I would recommend Starbuck’s making more technological advances, as the world continues to become a technologically advanced society.
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