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Starbucks first store opened in 1971 and today it has more than 5,500 coffeehouses in more than 50 countries. Starbucks has built such a huge success story on a number of pillars. “Acting responsibly” is one of them through which the company strives to be responsible towards the planet as presented in their “Starbucks Shared Planet”
Ethical sourcing, supporting the tea & coffee communities, engaging to become part of the community where it operates are certain values the company cherishes. Project like “swastha” and “CHAI project” are some of the examples in this regard. Starbucks believes in communicating and collaborating openly with different stakeholders. There are other values and principles like these which have led Starbucks to where it stands today.
The mission statement as on their website reads as:
“Our Mission: to inspire and nurture the human spirit-one person, one cup and one neighbourhood at a time”
From a limited number of products Starbucks has grown into providing a wide product line across geographies with varying facilities in different stores. The emerging competition landscape and social trends have also brought new opportunities and threats for the company. Starbucks faced certain challenges around the time when economic downturn began to unfold. In the light of these challenges and opportunities, the company adopted certain measures which could not be as rewarding as it was expected....
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