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Corporate culture and management style. Starbucks philosophy.
Курсовая на англ. языке на примере международной сети кофеен Starbucks
Table of Contents
1.Terrence E. Deal and Allan A. Kennedy. The new corporate cultures : revitalizing the workplace after downsizing, mergers, and reengineering / Reading, Mass. : Perseus Books, c1999
2.Jonathan R. Macey. Corporate governance : promises kept, promises broken / Imprint Princeton : Princeton University Press, c2008
3.Nicolas Meisel. Governance culture and development : a different perspective on corporate governance / Imprint [Paris] : OECD Development Centre, c2004
4.Trompenaas, Fons. Riding the waves of culture: understanding cultural diversity in business / Fons Trompenaars, 1993
5.Keith Molenaar, Hyman Brown, Shreve Caile and Roger Smith. Corporate Culture/Professional Safety 47 no7 18-27 Jl 2002
6.Joseph A. Michelli. The Starbucks experience : 5 principles for tu
Показать всеrning ordinary into extraordinary / New York : McGraw-Hill, c2007.
7.Schultz, Howard. Pour Your Heart Into It, Hyperion: New York, 1997.
8.Robert McClure, “Starbucks soon to have it Made in the Shade,” Seattle-Post Intelligencer, August 3, 1999.
9.Starbucks 2008 Annual Report
10.Gill, Michael. How Starbucks saved my life: a son of privilege learns to live like everyone else/New York : Gotham Books, c2007.
11.http://www.companyculture.com An practical informational website for managers, with articles on the theory and principles for understanding company culture and how to change it.
12.http://www.starbucks.com Company websitСкрыть
Corporate culture is the distinctive personality of the organization. It determines how members act, how energetically they contribute to teamwork, problem solving, innovation, customer service, productivity, and quality. It is a company's culture that makes it safe (or not safe) for a person, division or the whole company to raise issues and solve problems, to act on new opportunities, or to move in new, creative directions. A company's culture is often at the root of difficult people-related problems such as motivation, morale, absenteeism, communications, teamwork, retention, injuries, and insurance claims.
Companies with well-developed corporate system focus on their people and create a social environment – or culture – in which employees can thrive achieve superior, long-term busines
Показать всеs success. When people are vested in their work, they work harder, show up on time, stay late when needed, and take pride in the company's products and services. They are loyal, committed, and interested in the collective welfare as well as in their individual careers. They speak up when things need to be changed rather than signing off or shipping out. Not only their hands but their heads and hearts are engaged in the enterprise's mission3.
The biggest single influence on a company's culture is the broader social and economical environment in which the company does business. A corporate culture embodies what it takes to succeed in a particular socioeconomic context. If hard selling is required for success, a culture will encourage people to sell and sell hard. If manufacturing precision is the requisite for success, a company will see that people employ strict standards to guide their work.
Because a company's culture affects everything in it—including profits—culture is the real bottom line. A company with a well-developed culture, open to all that its members want to bring, easily outperforms competitors4.
The survey, conducted by Harvard University in the United States in the 90's, has showed the results as followed5:
Culturally strong companies averaged 571% higher gains in operating earnings than those more culturally deprived over the the eleven years.
Companies with highly rated cultures averaged 417% higher returns on investment than their less culturally robust counterparts.
Companies with strong cultures saw their stock prices increase 363 % more than their culturally challenged peers over the time span of the study.
A great example of a well-developed corporate culture can be Starbucks Corporation. It went public to a stock exchange market in June 1992. On the first day of trading, the stock closed at $21.50 – up from an opening price of $17. Not only did the CEO's net worth zoom; the coffee retailer had finally reached the big leagues. But instead of hoarding his beans, the Chef Executive Officer, Howard Shultz, decided that he would give some of them back to employees i the form of stock options, while others firms offered options only to key senior executives, Shultz made them available to everyone working 20 hours a week or more, including those standing behind the counter at a local Starbucks store6.
Starbucks corporate management style can be found on two very distinct levels in the company:
In its unique corporate culture. Leaders within the business create a unique culture for employees in which empowerment, entrepreneurship, quality, and service define the values of the firm.
In its passing down of these values to its partners. The partners, in turn, help create a unique and personal experience for customers. Understanding these principles and getting to know how Starbucks leadership and partners (the term Starbucks uses for all its employees ) have grown the company offers a powerful blueprint for transforming ordinary into extraordinary.
In the next chapter I will describe Starbucks corporate model in connection with its management style.
2. Starbucks Outline and Its Corporate Model
2.1. Company overview
The company's story began in 1971. Back then it was a roaster and retailer of whole bean and ground coffee, tea and spices with a single store in Seattle’s Pike Place Market.
Starbucks Corporation was formed in 1985 and today is the world’s leading roaster and retailer of specialty coffee.
Starbucks purchases and roasts high-quality whole bean coffees and sells them, along with fresh, rich-brewed coffees, Italian-style espresso beverages, cold blended
beverages, a variety of complementary food items, a selection of premium teas, and coffee-related accessories and equipment, primarily through company-operated retail stores. Starbucks also sells coffee and tea products and licenses its trademark through other channels such as licensed retail stores and, through certain of its equity investees and licensees, Starbucks produces and sells a variety of ready-to-drink beverages. All channels outside the company-operated retail stores are collectively known as specialty operations.
The company’s objective is to establish Starbucks as one of the most recognized and respected brands in the world. To achieve this goal, the Company plans to continue disciplined expansion of its retail operations, to grow its specialty operations and to selectively pursue other opportunities by introducing new products and developing new channels of distribution.
Today, Starbucks is privileged to welcome millions of customers through our doors every day, in more than 16,000 locations in over 50 countries. Starbucks is named after the first mate in Herman Melville’s Moby Dick. The logo is also inspired by the sea – featuring a twin-tailed siren from Greek mythology. It’s a company's goal for all of coffee to be grown under the highest standards of quality, using ethical trading and responsible growing practices. Buyers personally travel to coffee farms in Latin America, Africa and Asia to select the highest quality arabica beans. Once these quality beans arrive at our roasting plants, Starbucks experts bring out the balance and rich flavor of the beans through the signature Starbucks Roast.
Starbucks stores are a welcoming third place for meeting friends and family, enjoying a quiet moment alone with a book or simply finding a familiar place in a new city. Total stores 16,706 (as of Dec. 27, 2009) 8,850 company-operated stores. 7,856 licensed stores. The company is operating in more than 50 countries including Russia. It offers the finest coffees in the world, grown, prepared and served by the finest people. The store partners (employees) are committed to coffee knowledge, product expertise and customer service. Company management believes in treating partners with respect and dignity. The management offers two landmark programs for the partners: comprehensive health coverage for eligible full- and part-time partners and equity in the company in the form of stock options.
The products that company offers are more than 30 blends and single-origin premium arabica coffees, handcrafted beverages, fresh-brewed coffee, hot and iced espresso beverages, coffee and non-coffee blended beverages, Vivanno smoothies and Tazo® teas, home espresso machines, coffee brewers and grinders, coffee mugs and accessories, packaged goods, music, books and gift items.
Starbucks also offers fresh food like baked pastries, sandwiches, salads, oatmeal, yogurt parfaits and fruit cups.
Investor play a very important role in the corporation. Some of the stock market facts are listed below7:
• Starbucks went public on June 26, 1992 at a price of $17 per share (or $0.53 per share, adjusted for subsequent stock splits) and closed trading that first day at $21.50 per share.
• Starbucks was incorporated under the laws of the State of Washington, in Olympia, Washington, on November 4, 1985.
• Starbucks Corporation’s common stock is listed on NASDAQ, under the trading symbol SBUX.
Starbucks has three reportable operating segments, with each segment providing the indicated percentage of total net revenues for fiscal year ended: United States (76%), International (20%) and Global Consumer Products Group (“CPG”) (4%). The United States and International segments both include company-operated retail stores and certain components of specialty operations. Specialty operations within the United States includes licensed retail stores, foodservice accounts and other initiatives related to the company’s core business. International specialty operations primarily consists of retail store licensing operations in more than 30 countries and foodservice accounts in Canada and the United Kingdom (“UK”). The International segment’s largest markets, based on number of retail stores, currently are Canada, Japan and the UK. The CPG segment includes packaged coffee and tea as well as branded products sold worldwide through channels such as grocery stores, warehouse clubs and convenience stores, and operates primarily through joint ventures and licensing arrangements with large consumer products business partners. This operating model leverages the business partners’ existing infrastructures and as a result, the CPG segment reflects relatively lower revenues, a modest cost structure, and a resulting higher operating margin, compared to the company’s other two reporting segments, which consist primarily of retail stores8.
The company’s retail goal is to become the leading retailer and brand of coffee in each of its target markets by selling the finest quality coffee and related products and by providing each customer a unique Starbucks experience or third place beyond home and work, is built upon superior customer service as well as clean and well-maintained company-operated retail stores that reflect the personalities of the communities in which they operate, thereby building a high degree of customer loyalty.
Starbucks strategy for expanding its retail business is to increase its market share by selectively opening additional stores in existing markets and opening stores in new markets to support its long term strategic objectives. The company committed in June 2008 to close approximately 600 underperforming company-operated stores in the US. The decision was an integral part of its transformation strategy, first announced in January 2008, and was a result of a rigorous evaluation of the US Company-operated store portfolio. The store closures were initiated in the fourth quarter of fiscal 2008 .
Starbucks retail stores are typically located in high-traffic, high-visibility locations. Because the company can vary the size and format, its stores are located in or near a variety of settings, including downtown and suburban retail centers, office buildings and university campuses. While the company selectively locates stores in shopping malls, it focuses on locations that provide convenient access for both pedestrians and drivers. The company also locates retail stores in select rural and off-highway locations to serve a broader array of customers outside major metropolitan markets. To provide a greater degree of access and convenience for nonpedestrian customers, the company has continued to expand development of drive-thru retail stores. At the end of fiscal 2008, the company operated approximately 2,800 drive-thru locations, compared to approximately 2,300 at the end of fiscal 2007, representing approximately 35% and 31%, respectively, of company-operated stores in the US and Canada combined9.
All Starbucks stores offer a choice of regular and decaffeinated coffee beverages, a broad selection of Italian-style espresso beverages, cold blended beverages, iced shaken refreshment beverages, a selection of premium teas and distinctively packaged roasted whole bean coffees. Starbucks stores also offer a variety of fresh food items, including several healthy choice selections. Food items include pastries, prepared breakfast and lunch sandwiches, and salads as well as sodas, juices, and bottled water. Starbucks continues to expand its food warming program in the United States and Canada, with approximately half of these stores , providing warm food items, primarily breakfast sandwiches. A range of coffee-making equipment and accessories are also sold in the stores. Each Starbucks store varies its product mix depending upon the size of the store and its location. Larger stores carry a broad selection of the company’s whole bean coffees in various sizes and types of packaging, as well as coffee and espresso-making equipment and accessories. Smaller Starbucks stores and kiosks typically sell a full line of coffee beverages, a limited selection of whole bean coffees and a few accessories such as travel tumblers and logo mugs.
The company’s primary competitors for coffee beverage sales are quick-service restaurants and specialty coffee shops. In almost all markets in which Starbucks does business, there are numerous competitors in the specialty coffee beverage business, and management expects this situation to continue. The company believes that its customers choose among specialty coffee retailers primarily on the basis of product quality, service and convenience, as well as price. Starbucks has been experiencing significantly greater direct competition from large competitors in the United States quick-service restaurant sector, some of whom have substantially greater financial, marketing and operating resources than the company. Starbucks also faces well established competitors in many International markets and increased competition in the US ready-to-drink coffee beverage market.
The company’s whole bean coffees compete directly against specialty coffees sold through supermarkets, specialty retailers and a growing number of specialty coffee stores. Both Starbucks whole bean coffees and its coffee beverages compete indirectly against all other coffees on the market. Starbucks specialty operations face significant competition from established wholesale and mail order suppliers, some of whom have greater financial and marketing resources than the company.
Starbucks also faces intense competition from both restaurants and other specialty retailers for prime retail locations and qualified personnel to operate both new and existing stores.
The company’s business is subject to seasonal fluctuations, including fluctuations resulting from the holiday season. Starbucks cash flows from operations are considerably higher in the fiscal first quarter than the remainder of the year. This is largely driven by cash received as Starbucks Cards are purchased and loaded during the holiday season. Since revenues from the Starbucks card are recognized upon redemption and not when purchased, seasonal fluctuations on the consolidated statements of earnings are much less pronounced. Quarterly results are affected by the timing of the opening of new stores, and the company’s growth may conceal the impact of other seasonal influences. For these reasons, results for any quarter are not necessarily indicative of the results that may be achieved for the full year.
The company is committed to doing business responsibly and conducting themselves in ways that earn the trust and respect of the customers, partners and neighbors. Within this, Starbucks has identified three areas of focus: ethical sourcing, environmental stewardship and community involvement.
The company has developed strong, long-term relationships with farmers all over the world that help ensure buying the high-quality coffee the customers expect. The company's goal that by 2015, all of their coffee will be grown using ethical trading and responsible growing practices.
Starbucks shares their customers’ commitment to the environment. They believe in the importance of caring for the planet and encouraging others to do the same. It is the goal that by 2015, 100% of cups will be reusable or recyclable. They will also work to significantly reduce our environmental footprint through energy and water conservation, recycling and green construction10.
From the neighborhoods where Starbucks' stores are located to the ones where coffee is grown – they believe in being involved in the communities they are a part of. Bringing people together, inspiring change and making a difference in people’s lives – it’s all part of being a good neighbor. By 2015, Starbucks corporation plans to contribute one million volunteer hours each year to it's communities
2.2. Starbucks Corporate System
The corporation system is functional in structure and relatively flat. Corporate organization is tall with four levels of management above store management (appendix 1). Starbucks runs so-called “ a laisses faire” management style which means that manager sets the tasks and gives staff complete freedom to complete the task as they see fit. There is minimal involvement from the manager. The manager however does not sit and watch them work. He or she is there to coach or answer questions, supply information if required (figure2). There are benefits, staff again are developed to take responsibility which may lead to improved motivation.
Store staff were central to the Starbucks experience and the company made special efforts to recruit and keep high-quality personnel. Starbucks was known for its progressive personnel policies and generous compensation packages. Hourly wages were higher than the norm for the fast-food industry, and the company had a comprehensive stock option plan, termed Bean Stock, for every employee from top managers to store personnel (baristas). The plan was unique in the fast food industry. These efforts paid off in a barista turnover of 60 percent, compared with 140 percent for hourly workers in the fast-food business11.
As the company grew, Starbucks spent more on training than on advertising its product. Every new barista took basic courses in Coffee Knowledge, Brewing the Perfect Cup and Customer Service.
Figure 2. Store management structure
After buying Starbucks, Howard Schultz had worked to develop a benefits program that would attract top people who were eager to work for the company and committed to excellence. One of Schultz’s key philosophies was to “treat people like family, and they will be loyal and give their all.” Accordingly, Starbucks paid more than the going wage in the restaurant and retail industries, granted stock options to both full and part-time partners in proportion to their level of base pay, and offered health benefits for both full and part-time partners. In return, Starbucks had a partner turnover rate of 60% compared to the restaurant industry average of 200%12. Furthermore, 82% of the partners rated being “very satisfied” and 15% as “satisfied” with their jobs when asked by outside audit agencies.
The managers in Starbucks treat each workpeople equally. In order to narrow the gap between managers and employees, they also co-work with the basic level staffs in the front line. Due to this, they can maintain a well management system and create a much closer and more familiar atmosphere than other place, which makes not only employees can enjoy their job but also customers are affected by their enthusiasm.
Starbucks has a well-organized communication channel for employees. It places a great importance on labors. For example, managers plan the working hours per workers and arrange the schedule of time off, according to their wants to meet their requirements. There are interviews weekly to see what employees’ need is. A special survey called ‘Partner View Survey’ is taken off approximate every two years. The managers can receive feedbacks through the event to which part should be improved or what issue should be paid more attention to. Скрыть
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