Howard Schultz Book Report

Entrepreneurship is defined as, “The capacity and willingness to develop, organize and manage a business venture along with any of its risks in order to make a profit.” Although this may seem to be a common business strategy, it is incredibly difficult for an individual to have the strength and perseverance to not only create; but support and foster their idea from scrutiny and destruction. That kind of personal resilience is something that I personally am awestruck by, and it is my hope one day to possess the same qualities when pursuing my own entrepreneurial venture. I can only dream of achieving the same level of achievement as Howard Schultz, but I aspire to be an even greater businessman and innovator during my career. In order for

The book begins with a thorough description of Schultz’ upbringing, and he reveals that, “As the oldest of three children, I had to grow up quickly and started earning money at an early age” (P15). He also tells readers that his widowed mother encouraged him, “To challenge myself, to place myself in situations that weren’t comfortable, so that I could learn to overcome adversity” (P 16). Clearly, by the time Schultz had reached his teenage years he had experienced incredibly unfortunate circumstances, and yet had emerged as a hardworking and driven individual, determined to do bigger and better things. By 1982, Howard Schultz had quickly attained a respectable position at Hammarplast, a division of Perstorp; however he left and moved to Seattle quickly, because he “Saw Starbucks not for what it was, but for what it could be” (P 5). Schultz absolutely fell in love with Starbucks, and understood how incredibly marketable high-quality coffee could be; before other retailers and individuals caught on. His entrepreneurial spirit found a perfect application when he was introduced to Starbucks, and upon tasting the product and seeing the company in Seattle he told his wife, “I know where I want to live: Seattle Washington. It was my Mecca. I had arrived” (P 28). Schultz found what he had always

Coming from a poor family and seeing his father’s daily struggle, Schultz witnessed first-hand the problems and impactions that low-pay and terrible benefits have on a family, and he made it his mission to be the “Employer of choice” (P125). Schultz advocated for even part-time employees, and offered full health-benefits starting in 1988, something unheard of in the industry at that time. Also, in 1991 Starbucks introduced the “Bean Stock Plan” (134) to all employees, and “Everyone is eligible for stock options as soon as he or she has been with Starbucks for six months” (P135). Howard Schultz and the rest of the Starbucks management understood the value of keeping employees happy and literally invested in the company, and followed the mantra that “If you treat your employees as interchangeable cogs in a wheel, they will view you with the same affection” (P138). Starbucks did things outside the norms of a typical business model, and Howard Schultz tried to develop a company he wished his “Dad had worked for” (P 138). Although it wasn’t easy, or the cheapest strategy, it was the right thing to do, and due to these measures and innumerable others implemented over the years; Starbucks has established itself as a world-class and respectable