Starbucks's Strategic Initiatives At Starbucks

1243 Words5 Pages
Introduction Concerned with the disconnect between growing into a large corporation and what they once were, a small entrepreneurial company, the chairman, president and chief executive officer of Starbucks, Howard Schultz, launched a transformation plan, which included focusing on the customer while still achieving value for the shareholders. In January 2008, Starbucks released a statement regarding the strategic initiatives planned to accomplish just that (Starbucks announces strategic initiatives to increase shareholder value; chairman Howard Shultz returns as CEO, 2008). In the announcement Schultz shared that his plan would include refocusing on the customer with new products and store designs, slowing down the pace of new store openings and closing underperforming stores, reestablishing customers attachment and connection with Starbucks, rearranging the organization, reallocating resources and restructuring management, as well as global expansion (Starbucks, 2008). Shultz’s goal was, by 2012, to have tripled annual sales and increase the number of worldwide stores by more than half the current number of 13,500 (Helm, 2007). This paper will focus on the human resource management aspects of the transition plan including the legal environment, talent acquisition, training and employee development, performance management, employee separation and retention, compensation and employee pay, employee benefits, and how HR professionals should prepare themselves as a

More about Starbucks's Strategic Initiatives At Starbucks

Get Access