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Starbucks Corporation
Starbucks is a coffee house that first started its business in Seattle’s Pike Place Market in 1971. Starbucks purchases and roasts high-quality whole bean coffees and sellsthem along with fresh, rich-brewed, Italian style espresso beverages, a variety of pastries and confections, and coffee-related accessories and equipment -- primarily through its company-operatedretail stores. In addition to their sales through their company-operated retail stores, they also sell their whole bean coffees through other retail stores and supermarkets across the globe. One of theirmain objectives is to make Starbucks one of the most recognized and respected brand names in the world. In order for them to achieve this, they would continue to expand their retail operations andchannels to make itself widely available to the general public.
Their mission statement is to establish Starbucks as the premier purveyor of the finest coffee in the world while maintaining theiruncompromising principles while they grow. They base their mission statement on the following six principles:
1. Provide a great work environment and treat each other with respect and dignity.2. Embrace diversity as an essential component in the way we do business.
3. Apply the highest standards of excellence to the purchasing, roasting and fresh delivery of our coffee.4. Develop enthusiastically satisfied customers all of the time.
5.) Contribute positively to our communities and our environment.
6.) Recognize that profitability is essentialto our future success.
Some of the major issues of the Starbucks Corporation that they have dealt with over the past year were the issues concerning their accounting methods. In the past fewmonths, restaurant chains such as McDonald’s Corp., Wendy’s International Inc., and many others announced changes to the way they account for leases. Starbucks believes that its accounting methods...
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