Question

Is Starbucks a ‘Conscious Capitalism’ company? Explain your answer in at least a page, and cite your sources.

Answer 1

Suppose that you get a chance to earn 5 times more the profits of the similar firms by implementing a system, would you like to do so? Of course yes, no. You must be thinking what all you need to give up in order to achieve that. If I say nothing, what would be your reaction?

Well, there is a way of doing business which could actually help you achieve that without losing your soul. All you need to do is taking care of your customers and employees more than your shareholders. It asks you to be truly authentic and sticking to your morals and ethics. The system which lets you do this is known as Conscious Capitalism. Companies such as Mae and Walgreens outperformed by 300 percent that too just by doing the business "the right way".

Starbucks is also one such company which fits the aspect of conscious capitalism. The stock value of Starbucks has grown over 12300 percent since it went public. the CEO Howard Schultz attributes this success of the company to its idea of balancing business and social consciousness. He once said that the profitability is a shallow goal and if one has a real purpose, it has to be to share its profits with others. He has spoken about the inequalities in the societies, the same sex marriages, polities and even on the race. He feels that the conversation has the power to change the minds and even the hearts.

Under its plan of social consciousness, the CEO has shown his commitment to the communities. At Starbucks, the workers are offered healthcare services. The Starbucks has promised to hire as many as 10000 refugees by 2022 in its stores. It also has goals of giving employment to10000 veterans and military spouses. As far as its success is concerned, the company has already employed 36000 young adults under its youth program. Apart from this, the company has also offered part-time and full-time reimbursements for up to four years' tuition at Arizona state university online program.

No matter, how good you do. The haters gonna haters. He has also been criticised for using a touchy topic merely for exploiting the marketing opportunities. Not just the outsiders, even the company's own employees and customers have not taken his suggestions. Still, nobody could bring him down. His moto still remains to not let blur the divide between profitability and the right way of doing the business. In an interview, he has said that the government is unable to act in many cases, so it is really important for the businesses to step up and perform their responsibility of doing good for the society.

However, conscious capitalism is still a part of capitalism. So in the end, how its financial results would be would tell if the company's efforts were worth the costs.

1.Fan of the "Conscious Capitalism" Movement?

2.Starbucks CEO Howard Schultz: 'Profitability Is A Shallow Goal'

3.Conscious Capitalism and Starbucks

4.How Starbucks wants to be the face of ‘conscious capitalism’

5. Is Starbucks the face of ‘conscious capitalism’?