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1、Kathleen Corrigan, Jessie Huang, Yang Liu, & Brendan SullivanReport and AnalysisACCT770101Professor M. CrowleyStarbucks History and MissionStarbucks is a premier roaster, marketer and retailer of specialty coffee, operating in 68 countries. Formed in 1985, Starbucks Corporations common stock trades
2、on the NASDAQ under the symbol SBUX.”The first Starbucks opened in the 1971, taking its name from a character in Herman Melvilles 19th century novel, Moby Dick. At this time, Starbucks sold only whole roasted coffee beans. In 1982, Howard Schultz joined Starbucks and eventually purchased the company
3、 in 1987. Schultz redirected the trajectory of Starbucks based on a business trip to Italy, where he visited Milans famous espresso bars. Impressed by the culture and popularity, he tried to imitate what he saw in Italy, giving rise to the current iteration of Starbucks as a hub for communities to c
4、ome and drink coffee in a pleasant environment. After Starbucks initial success in Seattle, the coffee shop expanded throughout the U.S., and then globally. In the 1990s, Starbucks become the first company to offer stock to its part-time employees. In 1992, Starbucks became a publicly traded company
5、 with an initial public offering of $17. At this time, the company had 165 stores. In the 2000s, Starbucks rose to become a world-leading brand, surpassing more than 6,000 locations globally (Fig. 1, The Daily Telegraph). (Fig. 1)From its inception, Starbucks mission statement, “To inspire and nurtu
6、re the human spirit one person, one cup and one neighborhood at a time,” has helped form its core 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, con
7、necting with transparency, dignity and respect. Delivering our very best in all we do, holding ourselves accountable for results. We are performance driven, through the lens of humanity.In turn, these values have helped drive Starbucks strategy and helped differentiate the brand in a competitive ind
8、ustry. Industry and Products Starbucks operates within the specialty coffee shop and quick-service restaurants (QSRs) industry space. The companys business model relies upon sales from purchasing, roasting, and selling high-quality coffees. Additionally, Starbucks sells handcrafted coffee, tea, and
9、other beverages along with a variety of fresh food items, including snack offerings, through company-operated stores. Starbucks also sells products through other channels such as licensed stores, grocery and foodservice accounts. In addition to their flagship Starbucks Coffee brand, they sell goods
10、and services under the following brands: Teavana, Tazo, Seattles Best Coffee, Evolution Fresh, La Boulange and Ethos. In almost all markets in which Starbucks does business, there are numerous competitors. Starbucks believes that their customers choose among specialty coffee retailers primarily on t
11、he basis of product quality, service and convenience, and price. Starbucks has aligned its strategy to support these key attributes and drive the success of its business.Brand Growth and Differentiation StrategyStarbucks success and differentiation depends heavily on the value of its brand. As a res
12、ult, the companys main growth strategy is to build their standing as one of the most recognized and respected brands in the world. Starbucks brand is built upon an excellent reputation for the quality of their coffee products. Through their product, the company delivers a consistent positive consume
13、r experience. Contributing to their favorable brand image are Starbucks social responsibility programs, including leftover food donations (Mashable), which are driven by their core values.Starbucks believes that they must also preserve, grow and leverage the value of other lesser-known Starbucks bra
14、nds like Teavana, Tazo, and La Boulange across all available sales channels. Thus, an important part of the companys strategy is to pursue growth in regions where these brands are less well known.To achieve these growth goals, Starbucks is continuing the disciplined expansion of their global store b
15、ase, adding stores in both existing and developed markets such as the U.S., as well as newer higher growth markets such as China. Starbucks is also supporting this growth by optimizing the mix of company-operated and licensed stores in each market. In addition, by leveraging the experience gained th
16、rough their traditional store model, Starbucks continues to offer consumers new coffee and other products in a variety of forms across new categories and through diverse channels. Expansion through Partnership StrategyStarbucks growth strategy also relies on a variety of business partners for new stores, foodservice, and branded products. Licensee and joint venture relationships are partic
