Starbucks Transformational Change Analysis
Introduction
Starbucks is a giant coffee company and coffeehouse chain. They provide specialty coffee. Starbucks opened its first store in Seattle. Today, they have more than 21,000 coffee stores across the world spread in US, EMEA, China, India Japan etc.
Starbucks stores offer a wide range of choices of coffee, tea beverages and other related products. They serve packaged roasted whole bean and ground coffees. Starbucks also offer assortment of fresh food offerings, ready-to-drink coffee and tea products, juices and bottled water.
Starbucks’ superior quality coffee and other products, appealing culture, supreme and customized services to the customers are the key drivers of its success over its competitors. Starbucks business was built upon
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The customers had to decide the type as well as the quantity of drink they want to have. The coffee was made as per the instructions of the customer.
Success and complexities: This was a risky approach, which could have backfired, but luckily it didn’t in this case. Customers liked this customization of their drinks giving them a personalized feeling.
Transformational Change: Starbucks became the first company (private) to introduce stock options for its employee. Schultz also introduced free insurance for the employees.
Success and complexities: Increased job satisfaction of employees and hence lower retention rate. This did not work initially as Starbucks faced huge losses at that time. Also, at the time of introduction of subsidies, shareholders did not favor Schultz, as they fear the dilution of their share price.
Transformational Change: In 1992, Howard Schultz decided to sell the shares of Starbucks to public, thus making it a public company.
Success and complexities: In a single day the share prices doubled.
Transformational Change: In 1995, Starbucks introduced a drink called Frappuccino. Starbucks partnered with PepsiCo to produce this drink, bottle them and sell it in
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