Starbucks A business model for success now and in the future

â€Å"Starbucks was named after Starbuck, first mate of the whaleship Pequod in Herman Melville’s Moby Dick†¦Starbuck was pluralized for ease of use† (Burks, 2009, p. 1). Now President, Chairman, and Chief Executive Officer, Howard Schultz formed Starbucks Corporation in 1987 after purchasing the name Starbucks, six stores and a roasting plant from previous owners, Jerry Baldwin and Gordon Bowker (Burks, 2009). Starbucks operates under a successful value chain management strategy. Their value chain encompasses a systematic approach to the way business is done. Robbins and Coulter (2012) point out, â€Å"A good value chain involves a sequence of participants working together as a team, each adding some component of value† (p. 520). Starbucks†¦show more content†¦16). Starbucks doesn’t stop their positive forces in just the communities they are involved in. They also carry the positive culture into their own corporation. â€Å"The employees St arbucks hires are called partners, and the company focuses on its partners, providing opportunities to develop skills, advance careers, and achieve goals† (Burks, 2009, p. 32). As baristas are the core of the Starbucks experience, the Starbucks corporation is diligent in making sure their baristas feel like a valued member of a team. In fact, new hires undergo approximately 20 hours of training on how to create the Starbucks experience for customers through customer service, the art of making coffee shots, and the history of coffee. The type of dedication the Starbucks corporation provides to its partners is precisely what has kept them in Fortune’s â€Å"100 Best Companies to Work For†, every year since 2002 (Greatplacetowork.com, n.d., Fortune). One of the things Baristas learn is how to treat customers which is the final, but most important phase of the Starbucks Experience. Koehn, Besharov, and Miller (2008) mention the five ways a barista should â€Å"beâ⠂¬ . â€Å"Be welcoming, be genuine, be knowledgeable, be considerate, and be involved† (p. 16). The five ways to act towards customers is just one of the ways thatShow MoreRelatedThe Localization Strategy : A Adaptation Strategy1225 Words   |  5 Pagesin which they live in. The localization strategy is geared toward understanding local consumers’ preferences and other locale-specific requirements and then directly adapting the marketing mix and other business strategies to best satisfy those particular consumers’ needs and wants. Since Starbucks primarily operates and competes in the retail of coffee and snacks store industry, it experienced a major slowdown in 2009 due to the recent economic crisis and consumers’ cut in spending. 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