What are distinctive competencies of Starbucks?

Answer 1

A] Starbucks Coffee Company:

The Starbucks Company was founded in the 1970's in Seattle. The actual brand was formally launched in 1982 and has since grown at a rapid pace with over 10,000 stores in 2005. The chain has become a worldwide phenomenon with wide acceptance wherever it has expanded its business to. This is due to the competitive edge maintained by the company, some of its distinctive competencies are described below:

Superior quality/innovation:First off is the fact that the chain actually provides its customers top of the line coffee in an upbeat and comfortable meeting environment. The branding has been done in such a way that the retail outlets have gained acceptance from all segments of a population. Instead of hardcore marketing strategies, the have relied on word of mouth and storefront appeal to win over customers.

Brand reputation: Over the years, the company has been able to build a reputation for quality products, consistency of service, and an overall attention to excellence in customer service. This is quite important as in effect this is the only value addition which they do apart from competitors and are exactly the criteria for which people look for in a coffee outlet.

Best place to work: In 2008, for the tenth time and for the seventh straight year, Starbucks was recognized as FORTUNES 100 Best Companies to work for. Also, for five years running FORTUNE has ranked the company among the ten most admired companies in the USA. The work culture and HR polices make this happen and the company has really come out with a winning formula in this regard.

Strong financial growth: Starbucks has reported a steady increase in income and operating profits over the years. This has further helped the company as it increases the perception in the minds of consumers as a successful company that can be trusted.

Type

2008

2007

2006

Revenue ($ mil.)

10,383.00

9,411.50

7,786.9

Gross Profit ($ mil.)

5,737.70

5,412.4

4,608.10

Operating Income ($ mil.)

503.9

945.9

894

Answer 2

Some skills needed are customer service, ability to learn fast, patience with customers, staying on task and keeping busy

Answer 3

The Starbucks core values are expressed in their mission statement: "To inspire and nurture the human spirit--one person, one cup, and one neighborhood at a time."