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🌟 Exciting news brewing in the business world! Let's discuss the recent controversy surrounding Starbucks' new CEO and his lengthy commute. What are your thoughts on the situation? Share your perspectives in the comments below! ☕ #Starbucks #CEO #BusinessNews https://ift.tt/ctrN9oZ

Starbucks, (NASDAQ:$SBUX), has seen a leadership shake-up with the dismissal of CEO Laxman Narasimhan after the company faced back-to-back quarterly revenue declines—a first since the challenging days of COVID 2020. Following the Q1 2024 earnings report, Starbucks saw a massive $40 billion wiped off its market value. It seems that when economic times get tough, Starbucks is one of the first luxuries people cut from their budgets, and with the current economic climate, that trend is only expected to keep growing. Replacing the CEO after just 16 months might not be the magic bullet the company needs, especially when consumers are tightening their belts on premium purchases. Now, all eyes are on the incoming CEO, who recently left Chipotle, to see if they can steer Starbucks back on course. What really went wrong at Starbucks? Time will tell. #Starbucks #LeadershipChanges #CEOTransition #BusinessStrategy #CorporateLeadership #RevenueDecline #MarketTrends #ConsumerBehavior #RetailIndustry #BusinessNews #StockMarket #EconomicOutlook #BusinessGrowth #CEOInsights

Here’s the CEO who came back twice from a well-earned retirement to nurse his beloved brand back to glory. I’m not much of a coffee drinker, but it’s difficult to miss that after 40+ years, Starbucks remains one of the world's most valued brands and a cultural icon. The leader who has to be credited with scripting the blockbuster that Starbucks turned out to be is Howard Schultz. How did he do this? Some tough calls I have noticed Starbucks stick with over the years: 🔸 EMPLOYEE FIRST: For Starbucks, it’s their people that make the difference! Through upturns and downturns, the leadership ensured transparency on what’s working and what’s not working at the company. When the going got tough, they didn’t buckle by cutting employee benefits though they could have got away with it. This earns them the trust of their large workforce. 🔸 CONSUMER RELATIONSHIPS: In Schultz’s own words, it's not just about the quality of the coffee but more importantly, about the relationship that the barista has with the customer and whether or not the customer feels valued, appreciated, and respected. This has been the hallmark of Starbucks and something other retailers have tried to emulate. 🔸 HIGH ACCOUNTABILITY: Over the years, there have been phases when the relevance of Brand Starbucks has been seriously questioned. Every time the leadership would come out with uncommon candidness on the areas in which they have gone wrong and then set themselves to getting back on track. 🔸 NO FRANCHISEE: Starbucks has steadfastly maintained that their secret sauce is how well its baristas understand its culture, vision, and value statement and believes that this is easier if their outlets are company-owned. That they have done this without diluting their financial performance is a testament to both their belief and execution. As Schultz says, “A lot of what we ascribe to luck is not luck at all; it’s seeing what other people don’t see!” What are your takeaways from this caffeinated saga? #Starbucks #HowardSchultz #branding #success

"Values" lip service versus "Living the values". The reason being Starbucks CEO Laxman Narasimhan firing. Service to the Customer is one of the 4 values of Walmart where I had recently worked. Every leader would lead from the front. Store managers would work weekends because that's where the maximum footfall was. And yes they would work till late and often overnight with their teams in monthly audits. Every senior person would lead by example and live the values. Starbucks values also have emphasis on similar aspects. One of them is Belonging. Another is exceed the expectation of peoe they serve. If the front end Baristas, junior and senior managers find their CEO valuing his family time to the detriment of the business, it's a matter of time morale will dip. A 25% jump in the stock price because of replacinga CEO of a global company is unheard of. Interesting lessons to take from it. #culture #values #mission #vision

Due to minor errors, I decided to delete the previous post and update my research: ☕ Starbucks Corporation Financial Analysis☕ Starbucks continues to grow with its Reinvention Plan, launched in 2022. Under the leadership of new CEO Laxman Narasimhan, Starbucks is focused on growth through store format innovation, including drive-thru, delivery-only, and pick-up concepts, alongside a major investment in global expansion. This plan aims to achieve 7-9% annual growth in comparable store sales. Despite challenges like post-pandemic recovery and rising supply chain costs, Starbucks’ resilience is evident. In 2023, the company achieved a revenue increase from $32.3B to $36.0B, and its operating income surged by 28%, reflecting its strong commitment to reinvention. Moreover, Starbucks’ strategy to expand internationally through licensed stores is paying off, with a 47.73% increase in international operating income last year! See my report on how the policies and accounting methods affect the financial statements! #Starbucks #FinancialAnalysis #GrowthStrategy #BusinessInnovation #FinancialStatement #Accounting

An interesting read about the management changes at Starbucks. As a (former?) fan of the company, it was pretty evident that the company had lost its soul. As a coffee lover, it is pretty sad to see the decadence of its coffee shops all over the world (or at least across Europe and the USA). There are now much (much!) better options if you want a great coffee and a decent breakfast. Let’s see if the new CEO can turn the company around. He did it before with Chipotle! #transformation #strategy

What do we think of Starbucks? Strategically I mean. After sales have declined for the fourth quarter in a row, I’d say there *might* be a need for a strategy review. Here are some things I’d be looking at: ☕️In the early days, Starbucks pretty much claimed the ‘third space’ territory. Under CEO Howard Schultz, the coffee shop built a name for being a comfy home from home. Overstuffed chairs, the smell of roasting coffee, staff that wrote your name (often badly) on your cup. People would hang out. ☕️ Now there are wooden chairs to encourage people to move on, machines printing orders and pre-roasted coffee in sealed bags. Starbucks has lost its Starbucks-ness. ☕️ The loyalty programme is questionable: if people are loyal to Starbucks, why give them a free coffee? They’d buy that anyway. If Starbucks was once about quality products and above market experience, why give a commodity product as a reward? ☕️ The team members were once key players in the customer experience. There was a sense of fun and banter. Now, process *improvements* mean the staff are order takers and delivery agents. Fine if you want a transactional relationship, not fine if you’re trying to stand for quality and time well spent. ☕️ When the Seattle Board gives me a call to be their next CEO, the first thing I’ll be saying is, “let’s get back to being Starbucks and stop being driven by short term process efficiencies”. Thoughts? #leadership #coffee #ceo #strategy

Here is how Starbucks grew to $3,700,000 in free cash flow in 2023. I was listening to a great interview with Howard Schultz, the former CEO of Starbucks. He said the magic happened at Starbucks when two things occurred. He acknowledged that he had good ideas and concepts for the business. But then iterated the business based on feedback from customers. When you go to Starbucks, you know you can have them make the drink the way you like it. At The EnM Group, we have many forward-thinking ideas -- yet our core focus is taking feedback from our clients and iterating to best serve them. How do you plan on making $3,700,000?

I loved the feel of the Starbucks in our local 📚 Barnes & Noble, 20 years ago. To recapture that feel, ☕ Starbucks needs to move away from its current assembly-line approach and allow employees to play a central role in the customer experience once again. The energy of baristas and the personal connections they formed with customers is what originally gave Starbucks the feel of a neighborhood coffee shop. What do you think? Annie --- Starbucks is in trouble again. In its last quarterly-earnings report, it announced disappointing results, including a 4% drop in same-store sales (11% in China, its second-biggest market). After that announcement, its stock plunged. (It is still well below its 12-month high.) And its founder and three-time CEO Howard Schultz once again fired off a missive on LinkedIn pleading with Starbucks’ current leaders to rediscover and embrace the company’s core purpose, its reason for existence. Schultz’s open letter, which followed another he issued in February, largely echoes the growing sentiments of many long-time customers: Going to Starbucks isn’t what it used to be, and the brand itself isn’t what it used to mean. The fundamental problem: Starbucks has been commoditizing itself. ...READ More... Starbucks #CXBrandExperience #CustomerCentricity #BrandLoyalty #CXStrategy Hon.