Starbucks, founded in 1971 in Seattle’s historic Pike Place Market, is the number one global company in the food service industry and the third most admired company in the world according to the Fortune magazine’s latest research (Starbucks, 2017). It is the largest coffeehouse company in the world with more than 24,000 stores in 70 countries. The great global partnerships and respect for local cultures are the factors that made Starbucks Coffee International (SCI) one of the leading and admirable company worldwide. The CEO, Howard Schultz, mentioned it as, “We remain highly respectful of the culture and traditions of the countries in which we do business. We recognize that our success is not an entitlement, and we must continue to earn the trust and respect of customers every day.” (SCI, 2017).
Starbucks’s government policy is based on truthfulness and honesty. While doing international business, the company always encourages its partners to comply with all the local and foreign laws about customs and trade. They need to be truthful and accurate in demonstrating business transactions to government agencies. In the standards of business conduct (SoBC), it is clearly mentioned as, “Starbucks policy is to deal honestly and fairly with government authorities and to comply with valid governmental requests and processes” (SoBC, 2017). The company, Starbucks, is devoted to fully compliance with the local laws and regulations of the countries in which it operates or going to operate.
Starbucks has captured the global market in less than fifty years, since the first store opened. Major factors that have contributed to this successful business expansion and brand recognition are the entry mode selection and promotional strategies used by the company.
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- Date February 24, 2018
- Tags Academic Report Writing, Academic Writing services