Starbucks is the world’s largest coffeehouse chain. It’s everywhere, quite literally! Even if you don’t bump into one a few blocks from your house (which is unlikely), you’ll see the logo of the two-tailed siren in most social media. This American company has successfully spread its wings with grace and admiration of many.
| Company Name | Starbucks Corporation |
| Established on | March 31, 1971 |
| Type | Public |
| Mission Statement | “To inspire and nurture the human spirit – one person, one cup, and one neighborhood at a time.” |
| Vision Statement | “To establish Starbucks as the premier purveyor of the finest coffee in the world while maintaining our uncompromising principles while we grow.” (2019) |
Company Overview
From a single store in Seattle, Starbucks expanded to a well-known coffee chain in countries like Japan, Canada, the United Kingdom, China, Taiwan, South Korea, the Philippines, Thailand, Malaysia, Mexico, Australia, Germany, and New Zealand. In 1971, they started with freshly roasted coffee. Howard Schultz led this corporation to success gradually. Today, they function in more than 30,000 retail stores in 80 markets. They provide not only a wide range of coffee selections, but also other beverages, salads, baked goods, and merchandise. Starbucks owns Starbucks Coffee, Seattle’s Best Coffee, Teavana, Evolution Fresh, Ethos Water, and Torrefazione Italia Coffee. Starbucks Corporation’s common stock is listed on NASDAQ, under the trading symbol SBUX. Starbucks ‘ revenue for the twelve months ending March 31, 2020, was $26.663B.
Mission Statement
According to the official website of Starbucks, their mission is, “To inspire and nurture the human spirit – one person, one cup and one neighbourhood at a time.”
Mission Statement Analysis
From the mission statement, it is evident that Starbucks emphasizes on building meaningful human relationships. It is a glimpse of the warmth of the company culture. The statement also shows how the corporate section of this company is aiming to achieve sustainability.
As we can see, there are two clear portions of this statement. The first one is about inspiring and nurturing the human spirit. Here, Starbucks presents its importance on both customer and employee satisfaction. Starbucks makes sure that the customer gets only the best quality products and services they can provide. This company wants the customers to be with it on the journey actively. In fact, the website allows the customers to share any idea they feel like Starbucks should know. In the value section of the Starbucks website, it is mentioned how the company wants to make their company a suitable and efficient workplace for the employees. The company emphasizes on facilitating and empowering the employees. The inclusive company culture enables the company to connect with the people associated with it in a fantastic way.
The second portion of the statement,” one person, one cup and one neighbourhood at a time”, shows a strong organizational objective. Starbucks made it clear that they want to expand while making every customer feel valued. The gradual growth will include the finest quality. Every coffee, every idea, and every Starbucks store will be dedicated to creating a distinct presence in the mind of the public.
Vision Statement
Although there isn’t a directly stated vision statement, the official website states that the vision Starbucks continuously works with is, “To establish Starbucks as the premier purveyor of the finest coffee in the world while maintaining our uncompromising principles while we grow.”
Vision Statement Analysis
Undoubtedly, what Starbucks envisages is inspiring, bold, and consumer-friendly. In the vision statement, they have clarified their goal and organizational values.
By mentioning that this company wants to be the premium purveyor of the finest coffee, they have expressed their will to gain superiority in the market. And to do so, Starbucks targets provide the best coffee-based beverage. Since the focus is now on coffee, this brand will obviously get more leverage in this section.
The fact that they mentioned maintaining and compromising principles is quite admirable. Starbucks has already won the heart of many by providing exclusive service worldwide. As mentioned before, the company culture is very inclusive and accepting. The practice of fairness and ethics is something the company aims to retain in the future as well.
And lastly, the intention to grow further has been portrayed. From the starting point, Starbucks has come a long way and the company wishes to keep this flourishment going.
From a consumer’s point of view, Starbucks is doing an excellent job as a business organization. The mission and vision of Starbucks present and the uniform idea of how the company perceives the business environment. It has been an important component of the alteration of lifestyle choices and preferences. It can be expected that the company will keep on contributing to the market quite evidently with goals and values like these.
References:
Referenceforbusiness.com. (2019). Starbucks Corporation – Company Profile, Information, Business Description, History, Background Information on Starbucks Corporation. Available at:
https://www.referenceforbusiness.com/history2/54/Starbucks-Corporation.html. (Accessed: 25th July 2020).
Starbucks Coffee Company. (2017). Company Information. Available at:
https://www.starbucks.com/about-us/company-information. (Accessed: 25th July 2020).
Lawrence Gregory (2019) Starbucks Coffee’s Mission Statement & Vision Statement (An Analysis), Available at
http://panmore.com/starbucks-coffee-vision-statement-mission-statement (Accessed: 25th July 2020).