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Company Overview
Established in 1971, since then have grown to become the leading retailer, roaster, and brand of specialty coffee in the world with locations in North America, Latin America, Europe, Middle East, and Asia Pacific. AS OF 2006 Net revenue 7.8 Billion Net earnings 564 Million Earnings per common share diluted $0.71 Number of countries Starbucks is located in 37 Total retail stores world wide (excluding franchises) 12,440 Number of partners (employees) worldwide 145,800
BSC Purpose
The purpose of this BSC is to develop metrics that allow individual Starbucks stores to measure current performance as they align with the overall store strategy. This scorecard incorporates both lagging and leading metrics to create a holistic view of performance as it pertains to the Cybernetic Feedback Model.
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Balance Scorecard
FINANCIAL PERSPECTIVE
CUSTOMER PERSPECTIVE
Starbucks Strategy
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STRATEGY ALIGNMENT
Strategy 1, 3, 4
Employee Satisfaction
Employee work referrals (Leading) Strategy 1, 2, 3, 4 Length of employee tenure (Lagging) Percent employee absenteeism (Lagging) Employee satisfaction surveys (Lagging)
LEGEND Starbucks Store Strategy 1. Quality products/service 2. Contribute to communities 3. Great work environment 4. Profitability
CUSTOMER PERSPECTIVE
GOAL
Customer SatisfactionProduct Mix Customer SatisfactionProduct (Drinks, pastries, etc.) Customer SatisfactionService Continuous Community Involvement
MEASURE
Survey (Lagging) Percent total sale of new products (Lagging) In Store audits (Leading) Number of returned drinks (Lagging) Number of complaints (Lagging) Number of projects/month (Leading) Number of volunteer hours/month (Leading)
STRATEGY ALIGNMENT
Strategy 1, 4
Strategy 1, 4
Strategy 1, 3, 4 Strategy 2, 4
LEGEND Starbucks Store Strategy 1. Quality products/service 2. Contribute to communities 3. Great work environment 4. Profitability
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INTERNAL OPERATIONS
Goal
Minimize Solid Waste
Measure
Number of customers using their own mug (Both) Internal audit of solid waste (Lagging) Percentage of products packaged in recycled/recyclable materials (Leading) Randomly take temperatures of hot drinks (Both) Test employees product knowledge (Leading)
Strategy Alignment
Strategy 2
Strategy 1, 4
Perform and document cleaning and Strategy 1, 4 maintenance inspections hourly (Leading) Injury rate per hours worked (Lagging)
LEGEND Starbucks Store Strategy 1. Quality products/service 2. Contribute to communities 3. Great work environment 4. Profitability
FINANCIAL PERSPECTIVE
Goal
Achieve Profitable YoY Growth
Measure
YoY net revenue growth (Lagging) YoY Operating Margin Growth (Lagging) Revenue per employee (Lagging)
Strategy Alignment
Strategy 1, 3, 4
Strategy 1, 2, 3
LEGEND Starbucks Store Strategy 1. Quality products/service 2. Contribute to communities 3. Great work environment 4. Profitability
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Customer
Internal
Learning/ Growth
Financial
Customer
Customer SatisfactionService Maintain a clean, safe, and orderly store Employee Satisfaction Knowledgeable employees
Internal
Learning/ Growth
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Financial
Customer
Customer SatisfactionService Initialize Quality Assurance Maintain a clean, safe, and orderly store
Internal
Learning/ Growth
Employee Satisfaction
Knowledgeable employees
Causality Relationships for Strategic Objectives Recognize that profitability is essential to success.
Financial
Profitable growth
Customer
Internal
Learning/ Growth
Knowledgeable employees
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SHAREHOLDERS
Setting profitability as a strategy illustrates to shareholders that Starbucks is keeping them in mind
CUSTOMERS
BSC will ensure consistent quality for the customer for each visit
Questions
FINANCIAL
Achieve Profitable YoY Growth Make a meaningful contribution to the community
INTERNAL
minimize solid waste initialize quality assurance maintain a clean, safe, and orderly store
CUSTOMERS
customer satisfaction - product mix customer satisfaction - product (drinks, pastries, etc.) customer satisfaction - service continuous community involvement