By the time Howard Schultz stepped down as chief executive of Starbucks, in 2000, the coffee chain was one of the world’s most recognizable brands—and on a steady trajectory of growth. Eight years later Starbucks was suffering from a rough economy and its own strategic missteps, and Schultz felt compelled to return to the CEO seat. His previous tenure had seen promising growth, but now he faced a challenging mission: to lead a turnaround of the company he had built
Interesting reflections from Howard Schultz… Words to the effect that most of their first experiments just worked, and saw little competition at first. As competition stiffened Starbuck’s needed to face up to their own ‘hubris’ – in order to overcome it.