Starbucks founder Howard Schultz says company is at an 'inflection point'

MSN---- business insider. ^ | 3-1 | aaltchek@insider.com

[dennisw]

Starbucks' founder posted a letter he wrote to the company's leadership team about its future. Howard Schultz said Starbucks is at an "inflection point" and has an opportunity for a "reset."

The founder encouraged the company's leadership to address Starbucks' systemic issues.

Howard Schultz wants Starbucks to go on a soul-searching journey.

The coffee chain founder and former CEO posted a two-page letter on LinkedIn on Thursday that he sent to the company's leadership in early February.

Schultz, 70, first served as CEO from 1987 to 2000, then from 2008 to 2017, and then returned in April 2022 as interim CEO until March 2023.

He stepped down from Starbucks' board of directors in a planned transition in late 2023 and was given the title "lifelong Chairman Emeritus." Schultz wrote in the letter titled "The Soul of a Brand" that Starbucks is at an "inflection point." He said this crossroad shouldn't be unnerving because most companies go through it at some point.

Rather, the company should seize the moment as an opportunity to reset and reinvent itself, Schultz said. The way to do so is for the brand to return to its core values and rediscover its "soul."

"The organizations that endure — and thrive in — the disruption of today and tomorrow will be those that are not just nimble and innovative," Schultz said in the post. "But those that embrace their core purpose and reason for being."

Schultz said that not all companies stand the test of time or have a "soul," which he describes as a combined sense of history, culture, values, and connection.

[dennisw]

Most of the hotels I stay at (100 or more per year) now have automatic espresso machines in the lobby with all the free lattes, cappuccino, mochas or whatever you want.
__________________

This sounds nice and legit with putting in Keurig or similar machines in the lobby. No need for someone to brew coffee for hotel guests.

[markman46]

sounds like the starbucks unions are starting to have an effect on the bottom line.. HAHA

[StAnDeliver]

They’re in serious trouble. It’s a dying brand. These regional upstarts that don’t even have a walk-in is why Starbucks are locking their doors and just running drive-thrus. There’s no other way to compete against that labor edge of drive-thru-only Scooters, Dutch Bros (mostly drive-thru), 7 Brew, many other smaller chains. Keep your eye on Scooters.

[Firehath]

Has Micheal Moore

Been quiet lately

Maybe

The whole world

All byedend out

Gog byedend out usa

MaGog byedend out nato - un / Vati - yes - we - can’t

Rev 13

[Firehath]

Wow

The whole country

Gog dem losers usa

MaGog dem losers nato / un - vaticant’s

Rev 14

[dennisw]

Thanks! There are lots of go-getters who can undercut and be nicer than Starbucks