Executive Summary: Starbucks Corporation

Topics: Coffee, Starbucks, Espresso Pages: 10 (2818 words) Published: April 4, 2013
1.0 Executive Summary
Starbucks Corporation the leading coffeehouse in the world. It was founded in 1971 by Jerry Baldwin, Zev Siegel, and Gordon Bowker in Seattle, Washington. Howard Schultz was the key person who turned the company a huge success around the globe. Since the beginning Starbucks has been facing many tough challenges and yet it is still remains as the best coffee House in the world. The mission of Starbucks is to inspire and nurture the human spirit- one person, one cup, and one neighborhood at a time. Their main competitors are include Dunkin Donuts, Biggby Coffee, Caribou Coffee, McDonald's, Panera Bread, and Einstein Bagels, ,Secret Recipe, Old Town White Coffee and Coffee Bean. The political stability shows what derived the Starbucks to establish themselves in Malaysia. The economy has shown that this country is one the Asia’s commercial destination where the economic activities boost up every year commercially. The socio-cultural shows a section of people who the corporation could not satisfy through their menu. While the technological analysis shows that e-commercial is possible in Malaysia. The branding itself has created a positive image for Starbucks where they do not need any aggressive promotion to establish themselves. Now days, even homemade coffees are becoming a competitor to the Starbucks. The price-sensitive community in Malaysia finds that the pricing of these products is high and not affordable by all. 2.1 Objectives

The Company's objective is to establish Starbucks as the most recognized and respected brand in the world.

1.2 Vision and Mission
The vision "Establish Starbucks as the premier purveyor of the finest coffee in the world while maintaining our uncompromising principles while we grow”.The mission of this corporation is to inspire and nurture the human spirit- one person, one cup, and one neighborhood at a time. Besides that, they also have their own set of principles to guide their employees on operating the daily business.

2.0 Company Summary

The Starbucks Corporation has arguably been the most successful coffee chain in past few decades. This corporation is the global leader in specialty coffee consumption. Besides that, it is the largest coffee house company in the world with 17009 stores in 55 countries including more than 100 in Malaysia. Starbucks is famous for their drip brewed coffee, espresso-based hot drinks, other hot and cold drinks, coffee beans, salads, hot and cold sandwiches and panini, pastries, snacks, and items such as mugs and tumblers. Other than that, they also run the Starbucks Entertainment division and Hear Music brand where the company also markets books, music, and film. Many of the company's products are seasonal or specific to the locality of the store. Starbucks-brand ice cream and coffee are also offered at grocery stores. Arising almost overnight from a market in Seattle, today it provides quality premium coffees with a superior level of customer service and at a premium price around the world.

3.2 Background
In 1971, Jerry Baldwin, an English teacher, Zev Siegel, a history teacher and Gordon Bowker, a writer established the very first Starbucks which was known as Starbucks Coffee, Tea and Spice in Seattle, Washington. In the beginning, this establishment was not into beverage selling but the retailed coffee beans. In 1982, Howard Schultz became the head of Marketing and Overseeing of the retail stores of Starbucks. He tried to convince the Baldwin, The CEO of Starbucks into beverage selling. In 1984, they opened their fifth outlet in San Francisco where Schultz successfully opened a test espresso bar which became an initial success. But, still the owners were not willing to continue the bar in other outlets. In 1985, a frustrated Schultz left Starbucks to open his own coffee establishment. But, in 1987, Balwin and Bowker sold the company to Schultz where it started to grow rapidly as a beverage selling outlet....
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