Business Wars Starbucks vs Dunkin - Trouble is Brewing | 4
Mar 11, 2020
Howard Schultz, the former CEO of Starbucks, grapples with the rapid decline in sales and intense competition from Dunkin' Donuts. He reveals the emotional toll of his leadership during a corporate crisis, discussing radical measures like store closures for employee retraining. As Dunkin' capitalizes on Starbucks' missteps, a nationwide taste test reveals surprising preferences that shift the coffee landscape. Schultz emphasizes the need for a return to core values and improved customer satisfaction to navigate through these turbulent times.
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Schultz's Concern
- Howard Schultz was deeply troubled by Starbucks' declining sales in late 2007.
- He felt a personal responsibility for the company's struggles and was determined to find a solution.
Schultz Returns as CEO
- In a surprise move, Howard Schultz replaced Jim McDonald as CEO of Starbucks in January 2008.
- He held a secret meeting at his house to inform his leadership team.
Return to the Roots
- Schultz visited the original Starbucks store in Seattle after returning as CEO.
- He reflected on the company's history and the initial confidence he felt.
