Starbucks highlights its mission as “to inspire and nurture the human spirit – one person, one cup and one neighborhood at a time.” And its vision is to “treat people like family, and they will be loyal and give their all.”

The Starbucks Mission And Values

Source: Starbucks

Starbucks highlights its mission as “to inspire and nurture the human spirit – one person, one cup and one neighborhood at a time.”

From this mission statement, a set of core principles make up the core of Starbucks‘ company culture:

•       Creating a culture of warmth and belonging, where everyone is welcome.
•       Acting with courage, challenging the status quo, and finding new ways to grow our company and each other.
•       Being present, connecting with transparency, dignity, and respect.
•       Delivering our very best in all we do, holding ourselves accountable for results.

As pointed out in Starbucks 2018 Annual Report:

Our objective is to maintain Starbucks standing as one of the most recognized and respected brands in the world. To achieve this, we are continuing the disciplined expansion of our global store base, adding stores in both existing, developed markets such as the U.S., and in newer, higher growth markets such as China, as well as optimizing the mix of company-operated and licensed stores around the world. In addition, by leveraging the experience gained through our traditional store model, we continue to offer consumers new coffee and other products in a variety of forms, across new categories, diverse channels and alternative store formats. We also believe our Starbucks Global Social Impact strategy, commitments related to ethically sourcing high-quality coffee, contributing positively to the communities we do business in and being an employer of choice are contributors to our objective

Starbucks Vision In A Nutshell

This instilled a vision at Starbucks to “treat people like family, and they will be loyal and give their all.”

The vision statement is articulated around the concept of family, loyalty, and generosity. 

What it means from the business standpoint is that Starbucks is a place where people spend a lot of time. Therefore, it has to feel like a second home.

Understanding Starbucks Business Model

If we look at the combined financial statements of the company, we can draw a few interesting conclusion:

The company revenues were in the last years primarily driven by company-operated stores. However, if we look at the composition of the company-operated stores vs. the licensed operated stores we can notice how Starbucks runs almost 57% of the total stores as company-operated. And the remaining 43% as licensed stores.

While keeping a majority of its stores as company-operated was critical to control the brand and experience as much as possible. The company also used the licensing model to grow substantially its brand across the world.

For more read the Starbucks Business Model in a Nutshell

Other business resources:

• What Is a Business Model? 30 Successful Types of Business Models You Need to Know
• The Complete Guide To Business Development
• Business Strategy: Definition, Examples, And Case Studies
• What Is a Business Model Canvas? Business Model Canvas Explained
• Blitzscaling Business Model Innovation Canvas In A Nutshell
• What Is a Value Proposition? Value Proposition Canvas Explained
• What Is a Lean Startup Canvas? Lean Startup Canvas Explained
• What Is Market Segmentation? the Ultimate Guide to Market Segmentation
• Marketing Strategy: Definition, Types, And Examples
• Marketing vs. Sales: How to Use Sales Processes to Grow Your Business
• How To Write A Mission Statement
• What is Growth Hacking?
• Growth Hacking Canvas: A Glance At The Tools To Generate Growth Ideas

The post Starbucks Mission Statement and Vision Statement In A Nutshell appeared first on FourWeekMBA.