To sum up about Starbucks core value story:
1) Schultz, 54, previously served as CEO from 1987 to 2000.
2) After that other CEO run the company but they lost their way and Starbucks was facing increasing competition from the fast-food sector, notable McDonald’s and Dunkin’ (Donuts)
3) in 2007, when he was serving as Chairman (not CEO), sales were plummeting and the stock was sinking. “We had lost Starbuck way” he said.
4) In 2018, he returned to be a CEO to drive Starbucks by core values revitalization and focus on customer experience not the expansion and price.
5) In 2008, Schultz decided to
a. shut down all the 7000 Starbucks stores operating in the US because he believed that they needed to be craft and serve the most perfect drink and revitalize the core values not only the profit
b. Upon taking the post, Schultz invited people to email him directly — no sooner did he receive 5,000 emails. He also made personal phone calls to stores across the nation to see how things were going.
c. For the first time in company history, Schultz looked to outside consultants for ideas on how to revive the company
d. Schultz created a customer rewards card
e. Schultz decided to continue offering health insurance to his employees — in order to stay aligned with the company’s guiding principles
f. Starbucks rolled out a new design for all of its stores
6) April, 2017. Howard Schultz was stepping down as Starbucks CEO; current COO to replace him
This is a core value and mission of starbuck krub.
OUR MISSION
To inspire and nurture the human spirit — one person, one cup and one neighborhood at a time.
OUR VALUES
With our partners, our coffee and our customers at our core, we live these values:
· Creating a culture of warmth and belonging, where everyone is welcome.
· Acting with courage, challenging the status quo and finding new ways to grow our company and each other.
· Being present, connecting with transparency, dignity and respect.
· Delivering our very best in all we do, holding ourselves accountable for results.
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