Starbucks-ViaSynopsis: Inspired by the book and movie about Moby Dick, Starbucks first opened its doors as a storefront in Pike Place Market in 1971. It t was only in 1984 that Howard Schultz joined the operation. as chairman, president and CEO, and introduced Starbucks to the new Italian breed of coffee beans and the Italian style of coffee drinking; a style that refreshed the idea of ​​socializing and interacting among people from all walks of life at a time when the corporate lifestyle was taking precedence over the family friendly lifestyle. This goal was established by officially making the company's mission statement; “to inspire and nourish the human spirit – one person, one cup and one neighborhood at a time” (Starbucks, nd). After 43 years in business, Starbucks currently operates in 18,000 locations in sixty-two countries (Starbucks, n.d.). The annual report released by the company for the year 2013 indicates a total revenue of $14.89 billion, compared to $1.5 billion made in 2012 (MarketWatch, 2014). However, such success requires a lot of maintenance. In fact, due to high competition and declining revenue, in 2005, Starbucks introduced new items to its menu, including pastries, sandwiches, and desserts. Such a strategy helped the company regain its market power. Unfortunately for investors, such a static situation only provides short-term relief in a very volatile and competitive market. Mr. Schultz expressed concern that the company is going down a path that is causing the brand to lose its well-known image as a friendly coffee shop (Seaford, et. al, 2012). The market that was once cornered by Starbucks began to slip out of the company's clutches once McDonald's, Dunkin Donuts,...... middle of paper ......quest.com.proxy.davenport.edu/ pqcentral/docview/208382294/2A876B37643D443EPQ/2?accountid=40195Hall, J. and Schneider, J. (April 1, 2011). April 2011. Harvard Business Review. Accessed March 30, 2014, from http://hbr.org/2011/04/why-most-product-launches-fail/ar/1Our Starbucks Mission Statement. (nd). Starbucks coffee company. Retrieved March 29, 2014, from http://www.starbucks.com/about-us/company-information/mission-statementSeaford, B., Culp, R., & Brooks, B. (2012). STARBUCKS: MAINTAIN A CLEAR POSITION. Journal of the International Academy of Case Studies, 18(3), 39-57. Accessed March 29, 2014, from http://search.proquest.com.proxy.davenport.edu/pqcentral/docview/1037815154/F93C2836F2E04403PQ/2?accountid=40195Starbucks Corp. (nd). SBUX annual income statement. Accessed March 29, 2014 from http://www.marketwatch.com/investing/stock/sbux/financials