Howard Schultz is the CEO and chairman of Starbucks. His impeccable business practices, core principles and broad minded attitude make him a role model for every business student. Here are some of the lessons that every business student can learn from Howard Schultz.
1. One of the firm beliefs of Howard Schultz was that employee satisfaction is directly proportional to customer satisfaction. This belief of Schultz is responsible for his success. When a worker is happy and pleasant, he would never want the customer to leave with an unpleasant experience.
2. Howard Schultz believed that the satisfaction of employees can be elevated through training and empowerment. He always encouraged his employees to participate in every activity of the organization. This makes the employees feel that they are an important part of the organization. This feeling of belongingness motivates employees to work harder and this fuels the success of the organization.
3. Howard Schultz found out that making beverages of high quality can be done quite easily. It was the idea of Schultz that plenty of combinations of beverages can be produced from using some essential components. The multiple numbers of combinations satisfy the customers.
4. Howard Schultz believed that when customers can have their coffee the way they like it, the business would be more successful. Starbucks allows the customer to choose the amount and type of cream, flavoring, sweetener and ice. The location has some comfortable sofas and chairs which keeps the ambiance pleasant and cozy.
5. Schultz believed that it is important to stay updated about the emerging trends in order to be successful. He provided Wi-Fi to his customers so that they would laze around in Starbucks for a longer time and have many more beverages.
6. Schultz also supported and encouraged promising new technologies. Schultz recognized that the best customers of Starbucks are mostly immersed in technologies. So he created an app for mobile that allowed making payments and orders quickly.
7. Howard Schultz also believed that it is very important to be a nice corporate citizen. He considered that philanthropy is a very important part of corporate leadership. He created jobs for many underprivileged people. This made him a hero in the eyes of people and contributed to his success.
8. Schultz always kept himself open to new markets. He looked at the new markets globally and considered the cultural factors in determining where Starbucks would make good business.
These eight strategies and beliefs of Howard Schultz resulted in his enormous success. Every business student can follow his footprints to achieve success.