Howard Schucks Case Study Of Starbucks
The acquisition of Starbucks by Howard Schultz was a key juncture in Starbucks’ history. Howard Schultz acquired Starbucks in 1987 for $4 million and combined it with his then current venture, Il Giornale, resulting in a coffee bean and beverage provider with nine retail outlets. The business plan articulated growth to 125 stores within five years for the new combined venture. (Sarasvathy, 2008) In Schultz’ own words:
‘Scott placed on the table between us the business plan, a hundred page confidential doc- ument we had used for the private placement. On its cover were the two logos of Il Giornale and Starbucks. We had written it with meticulous care, spelling out clearly everything I intended to do with Starbucks once Il Giornale bought it. The plans had been our bible for months, and now it had come to life. It was a thrilling moment, the kind you can’t believe you are living through. Scott lifted his coffee cup in a toast, his eyes sparkling. “We did it,” we said at the same time.’(Schultz and Yang (1997) p. 100)
In the 1980’s coffee consumption per capita had been declining for 20 years but the original Starbucks, owned by Gordon Bowker, Jerry Baldwin and Zev Siegl, did not sell coffee by the cup. Could Schultz have predicted the new emerging coffee market? It seems so.
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