CVS Caremark Global Expansion to United Kingdom Global Business Management Abstract CVS Corporations was founded by Sid Goldstein, Stanley Goldstein and Ralph Hoagland, May 8, 1963 in Lowell, Massachusetts. In 2007 CVS pharmacy merged with Caremark Rx which created CVS Caremark. CVS Caremark is currently the number two pharmacy store in the United States with revenues exceeded $100 billion dollars and has over 7,400 hundred stores in 42 states. The corporation has been successful for over 40 years in the United States. CVS Caremark is designing a global expansion strategy to target areas that are profitable and promising demographically.
Because of the great culture Starbucks has established as being a caring, and growing organization which puts great emphasis on their mission, core and shared values, they tend to recruit the best talented people. Once employed in the organizations employees become more than just an employee they are considered “partners” starting a career where they become involved in the corporations success of making and selling coffee. Partners receive training and classes which help develop them so that they are promoted from within, into management positions. Training and developmental classes also prepare organizational management to recruit, manage and conduct performance appraisals, and retain its best talent. Finally, I feel that Starbucks strategic plan to maintain an effective and profitable workforce stems from the extraordinarily diverse compensation and benefits package it offers its partners and management team.
Life Map III. Questions I. Introduction Starbucks brand has been a household name in the coffee enterprise not only in the United States but also in different parts of the world. They have opened about twenty thousand coffee shop branches in sixty-two countries globally. It has been rapidly growing and opens about two branches a day on average.
Part One&Two 4 Works Cited Starbucks announces new leadership structure to accelerate global growth. (July , 11 2011). Retrieved from http://news.starbucks.com/article_display.cfm?article_id=547 Gaar, B. (2010, 0925). At whole foods, team management goes all the way to the top.
Mission Statement “To inspire and nurture the human spirit – one person, one cup and one neighborhood at a time.” Company Description Founded in 1971, Starbucks began with one store located in Seattle, Washington’s Pike Place Market and served as a roaster and retailer of whole bean and ground coffee, tea and spices. Today, Starbucks Corporation has become the world’s largest coffee house company. The company boasts over $10 billion in annual revenue, employs more than 200,000 people called “partners” (because of their ability to own stock in the company), and serves nearly 60 million visitors a week in 17,000 stores in 54 countries. (Schultz, 2011) Starbucks primarily sells drip brewed coffee and espresso-based drinks along with coffee beans, teas, salads, hot and cold sandwiches, pastries, and merchandise such as coffee and tea brewing equipment, mugs and accessories, music, and books. The company has also expanded their offerings into grocery stores which distribute Starbucks-brand ice cream and coffee.
PRINCIPLES OF MANAGEMENT CASE STUDY: Starbucks - Planning Summary Planning is the foremost need of every business organization. It is done at all levels of management. No matter what type or extent of planning a manager does, the important thing is that planning takes place. Starbucks has many stores in almost 37 countries. Starbucks long term goal is 15,000 US stores and 30,000 stores globally and to earn a good amount of revenue of 20 to 25% from them.
319).” Starbucks did recently face its own struggles from the recent recession, but I believe it is a company that is fearless, hungry, and innovative which is why it will continue to climb to the top. Starbucks is a business that has what it takes. “We are not in the coffee business serving people, but in the people business serving coffee (pg. 323).” That statement says it all! I have so many good things to say about this company, and it’s not because I’m a regular there.
Pleasing the personnel is one of the principal goals of any business to survive and develop in this huge competitive trade. This indeed is a vast trial that is to be reached by the business. For the personnel to be pleased it
Starbucks deals with customer equity by having highly trained as well as skilled employees. By training an employee in correctly they will know how to do their job in a fast and efficient manner impressing customers who go there for the convenience. Starbucks also assembled several policies regarding partner compensation and benefit packages. Starbucks deals with brand equity by continuing to focus on the customer and his/her point of views. They position themselves by appealing to adults of all ages.
Onward by Howard Schultz and Joanne Gordon Onward is the story of Starbucks Coffee Companys’ success. The company originated in Seattle, Washington. Starbucks in the early 1980s was not like the Starbucks we walk into today. In that time, Starbucks was a chain of four small stores that sold coffee beans and ground coffee. The Starbucks Coffee Company we know of today rose from the passion and love that CEO Howard Schultz has for coffee itself.