Case SummaryIn 1971, three academics, Jerry Baldwin, Zev Sigler, and Gordon Bowker, opened Starbucks Coffee, Team, and Spice in Seattle, Washington. They were inspired by the success of Peet's Coffee and Tea in Berkeley, California. However, they focused on selling high-quality whole beans and coffee products, which made the store consistently profitable. By 1980, Starbucks had four locations in the Seattle area. In 1981, Howard Schultz, vice president and general manager of the U.S. operations of a Swedish coffee and kitchen equipment manufacturer, visited Starbucks and was immediately attracted by the business philosophy and opportunities. For over a year, Schultz lobbied for a position at Starbucks and was finally hired in September 1982. However, Schultz's vision to expand and rebuild Starbucks conflicted with the owner's desire to maintain a business retail. So, in 1986, Schultz struck out on his own and founded Il Giornale Coffee Company. The following year, Schultz acquired Starbucks for $3.8 million when the owners decided to focus their attention on running Peet's Coffee and Tea, which they had acquired in 1984. Howard Schultz named the new company Starbucks Corporation and became the company's first CEO. In 2010, Starbucks became the world's largest specialty coffee roaster and retailer, with 8,812 company-owned and 7,852 licensed stores in more than 50 countries. Schultz resigned as CEO in 2000. Nevertheless, declining stock prices, erosion of customer traffic, and perceived dilution of the Starbucks brand led the board of directors to ask Schultz to return to his role as CEO. CEO and lead a major restructuring and revitalization initiative. Between 2008 and 2010, Schultz led a transformation of the...... middle of paper ......market/community. They must stay true to their concept of providing visually appealing stores, designed to reflect the unique character of the neighborhood in which they serve, and environmentally friendly. Starbucks Corporation is one of the leading roasters, distributors and retailers of specialty coffee worldwide and is expected to continue its global recognition. Works Cited Hottovy, RJ "SBUX: Starbucks Corp Analyst Report | Analyst Report." Starbucks is well positioned to leverage its brands into a global multi-channel growth story. Morning Star, April 25, 2014. Web. April 29, 2014.Peterson, Kim. "Starbucks' growth strategy? Open more Starbucks." Starbucks' growth strategy? Open more Starbucks. CBS Interactive, April 28, 2014. Web. April 29, 2014. Starbucks Corporations, Fiscal Year 2013 Annual Report. Retrieved from… http://investor.starbucks.com/phoenix.zhtml?c=99518&p=irol-irhome