Masters of Scale
How to do good and do good business, w/Starbucks' Howard Schultz
Oct 18, 2022
Howard Schultz, former CEO and chairman of Starbucks, is renowned for revolutionizing coffee culture and prioritizing employee welfare. In this engaging discussion, he shares insights on blending social impact with business growth, emphasizing the necessity of integrating societal contributions into company values. Schultz highlights Starbucks' innovative employee benefits, like tuition assistance, and underscores the significance of fostering connections between employees and customers to enhance brand loyalty. He also addresses how businesses can combat loneliness in today's society.
42:03
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Quick takeaways
- Creativity and innovation in company values can drive both social impact and business success.
- Investing in employee happiness, such as providing health insurance and involving parents, can contribute to business growth and retention in the Chinese market.
Deep dives
Groupon's Success with Digital Red Pockets in China
Groupon expanded into China and partnered with WeChat to launch a Digital Red Pockets campaign, offering extra money in virtual envelopes. The campaign quickly crashed WeChat's online platform, but once it was up and running, it became hugely successful and continues as an annual event during the lunar celebration.
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