Starbucks Company Overview

Starbucks Company Overview Starbucks, a well-managed assertive company, has consistently achieved growth since its archeozoic beginnings. Starbucks is the largest retailer of specialty coffee drinks and coffee beans in the nation interchange through company-owned retail outlets and super provender market chains (Starbucks Corporation, 2009). The Starbucks realize has earned its place as an innovative organization that represents a sense of community and shared ideals among its customers, its employees, and the public at large and its brand is equivalent to quality.By combining its well- kip downn name and brand with focused superior customer service, Starbucks is positioning itself in the market with enhancing both its product line and its marketing channels since it first loose its doors in 1971. Current expansion has obtained growth of over 2,000 locations throughout the fall in States, the United Kingdom, Canada, and Asia. Starbucks brings the exciting coffee experience to its customers almost anywhere (The bon vivant Retailer, 2009). Starbucks, formerly known as Starbucks hot chocolate, Team and Spice was founded 1971 in state highway Place Market, Seattle, Washington.The owners, two men by the names of Gerald Baldwin and Gordon Bowker used to bit and roast the coffee themselves in an old industrial building succeeding(prenominal) to a meat packing plant. Baldwin and Bowker founded Starbucks because they loved coffee and tea and cute Seattle to have the best. Based on many of fundamental ideas of Alfred Peet from Peets Coffee and Tea in Berkeley, Baldwin and Bowker had a solid dividing line of selling bewitching coffees, with 5 stores operating throughout Seattle area. Howard Schultz joined Starbucks in 1982 as doubtfulness of marketing.At Schultzs urging, Starbucks began testing its first espresso bar in Seattle, on April of 1984. tally to Schultz and Jones Yang (1999), Within two months, the store was serving 800 customers a day (p. 60). The mean(a) number of customer before the espresso bar opened was 250. After geezerhood of being in business, Gerald Baldwin and Gordon Bowker decided to sell Starbucks in March of 1987. By August of 1987, Howard Schultz bought Starbucks for $4 million dollars. On August 18, 1987, the Starbucks as we know it was born.By 1990, Starbucks had opened 84 stores. On June 26, 1992, Starbucks went public and was listed on the NASDAQ with a harm of $21 a share. Starbucks for the next decade continued to expand its stores domestically and internationalistly. Starbucks also continued to widen their menu selections by offering food and specialty drinks. By the end of 1999, Starbucks had opened 2,498 stores. By 2007, Starbucks opened 15, 756 stores. From 2000 to authoritative year, Starbucks continues to be the leader in the coffee industry. MarketRole of governing Regulations Government regulations has study implications in different aspects of Starbucks business. First of all, being a p ublicly listed company, presidential term regulations has major implications on financial reporting and news report activities of the company. For example, Starbucks choose to abide by with strict government regulations such as Sarbanes Oxley Act of 2002 and other sulfur/US GAAP related compliance issues pertaining to financial reporting and accounting policies. (Sutherland Asbill &038 Brennan LLP, April 2003, p. ) Non adherence to such regulations can result in significant penalties and fines for Starbucks. Government regulations also play an important role in global business of Starbucks, such as import of raw materials like Coffee and international operations of the company. Changes in government policies pertaining to import duties, tariffs, etc. can collision the import pricing of Companys raw materials such as Coffee. Similarly, policies pertaining to international gross can affect the profitability of its international subsidiaries.Government regulations also affect ar eas pertaining to environmental protection. As Starbucks is a socially responsible corporation, it adheres to government regulations pertaining to environmental protection, electric pig of waste, etc. Other areas where government regulations impact Starbucks operations are regulations pertaining to gay resources of the company in areas such as recruitment and hiring, salary, etc. Starbucks need to keep up with labor laws to avoid penalties and fines related to such laws.Starbucks also has to comply with federal and state regulations that are applicable to the organization. Issues and Opportunities Summary and Conclusion References Starbucks Corporation. (2009). Starbucks. com. Retrieved phratry 2, 2009, fromhttp//www. starbucks. com/aboutus/overview. asp The Gourmet Retailer. (2009). gourmetretailer. com. Retrieved September 2, 2009, fromhttp//www. gourmetretailer. com/gourmetretailer/magazine/article_display. jsp? vnu_conte nt_id=1086864 Schultz, H. , &038 Jones Yang, D. (1999) .Pour your heart into it. How Starbucks built a company one cup at a time. New York Hyperion. Sutherland Asbill &038 Brennan LLP (April 2003). juristic Alert Sarbanes-Oxley Act of 2002 Compliance Update. Retrieved September 5, 2009, from http//www. sutherland. com/files/ newsworthiness/3523433c-b3c0-4daf-9da3-526153639409/Presentation/NewsAttachment/887a0e6b-bb72-4b68-9824-8d77f8a3de86/926210_2. pdfhttp//www. sutherland. com/files/News/3523433c-b3c0-4daf-9da3-526153639409/Presentation/NewsAttachment/887a0e6b-bb72-4b68-9824-8d77f8a3de86/926210_2. pdf