External Macro Environmental Factors of the Starbucks Brand
It’s been 40 years since Starbucks was founded in 1971, and a lot has changed since they first opened their doors as a small store front is Seattle’s Pikes Place Market. Their headquarters is still based out of Seattle where they got their start but Starbucks has built a brand that is recognized throughout 50 countries across the globe. Despite small changes over the years the Siren logo that adorns the entire product line is recognizable throughout the world. Starbucks mission statement is ‘to inspire and nurture the human spirit – one person, one cup and one neighborhood at a time’ (Starbucks 2011a - Starbucks Mission Statement). With over 17,000 stores worldwide, they seem to be living the statement, but they didn’t make their name on coffee alone.
In 1991, Starbucks became the first privately held U.S. Company to offer stock options program that included part - time employees. Since then Fortune named Starbucks One of “The 100 Best Companies to Work For” four separate times. They have also been named one of the world’s most ethical companies by Allegra Strategies. The list of awards given to Starbucks goes on and on. What they all add up to is a brand that withstood the test of time. Starbucks has expanded their brand from brewed coffee and lattes to a full menu of gourmet drinks, breakfast sandwiches, and pastries. They offer Wi-Fi service to allow for working coffee breaks and last minute study sessions. They have transformed the corner coffee shop into a hub that supports diversity in demographics across the community. But as the macro-environment that surrounds this brand empire shifts will they be able to change with it?
There are so many things in business that we can control, and yet there are still so many factors that seem to be out of our hands. The recent economic crisis is a living testament to that.
Despite warnings from...