The Starbucks Experience Essay

2722 WordsFeb 17, 201311 Pages
The Starbucks Experience 5 Principles for Turning Ordinary into Extraordinary by Joseph A. Michelli McGraw Hill © 2006 208 pages Focus Leadership & Mgt. Strategy Sales & Marketing Finance Human Resources IT, Production & Logistics Career Development Small Business Economics & Politics Industries Intercultural Mgt. Concepts & Trends Take-Aways • Founder Howard Schultz opened the first Starbucks in Seattle in 1971, offering strong coffee, attractive store and product design, and a welcoming atmosphere. • Each week about 35 million customers go to Starbucks. • A $10,000 investment in Starbucks stock in 1992 would be worth $650,000 today. • Starbucks’ first principle is "make it your own": Employees take pride in their work. • The second principle is "everything matters." Quality control is key. • The third principle is "surprise and delight." Provide unexpected bonuses and perks. • The fourth principle is "embrace resistance." Critics are not enemies, they're friends. • The fifth principle is "leave your mark." Starbucks aims to make the world better through socially and environmentally responsible policies. • Employee morale is higher at companies that are involved in their communities. • Starbucks uses a triple bottom line, measuring its social and environmental impact as well as its profits. Rating Overall (10 is best) Applicability Innovation Style 6 7 5 6 or call us at our U.S. office (954-359-4070) or Switzerland office (+41-41-367-5151). getAbstract is an Internet-based knowledge rating service and publisher of book abstracts. getAbstract maintains complete editorial responsibility for all parts of this abstract. The respective copyrights of authors and publishers are acknowledged. All rights reserved. No part of this abstract may be reproduced or transmitted in any form or by any means, electronic, photocopying, or

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