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Leadership is the ability to influence followers to achieve common goals through shared purposes. Leaders, with the help of followers, are responsible for enacting an organization's vision, mission and strategies, and for achieving goals in socially responsible ways.

• Choose one of the companies listed on page 367 of your textbook and research the company's leadership and management, as well as their strategies and structure in meeting stakeholder needs.
• Explain, based on your research, how the company is a "firm of endearment."

Respond to no fewer than two of your peers on two separate days to build the dialog.

BELOW IS THE POST I NEED TO REPLY 2!!!

Effective leadership involves inspiring others to work toward shared goals while maintaining a commitment to ethical practices and social responsibility. Starbucks Coffee Company is a prime example of a company that integrates these values into its leadership approach and business operations. Through its commitment to stakeholder well-being, Starbucks exemplifies the characteristics of a "Firm of Endearment," where long-term relationships and emotional connections drive sustainable success.

Starbucks' leadership is rooted in a values-based philosophy that focuses on human connection, collaboration, and inclusion. Former CEO Howard Schultz laid the foundation for a people-first culture, which continues under current CEO Laxman Narasimhan. The company refers to its employees as "partners" and provides them with comprehensive benefits, including health insurance and access to higher education through the Starbucks College Achievement Plan (Starbucks Corporation, 2024). This emphasis on employee welfare is central to Starbucks' belief that engaged employees lead to better customer experiences.

The company's mission is "to inspire and nurture the human spirit, one person, one cup, and one neighborhood at a time," which reflects its focus on more than just profitability (Starbucks Corporation, 2024). Starbucks honors six stakeholder promises: to its partners, customers, coffee farmers, communities, the environment, and shareholders. By maintaining these promises, Starbucks balances its business strategy with its ethical commitments. The company supports sustainable sourcing through its Coffee and Farmer Equity (C.A.F.E.) program, which ensures ethical and environmentally responsible practices across its supply chain (Business Model Analyst, 2023).

In terms of environmental and community impact, Starbucks has launched multiple initiatives to reduce waste and support local needs. These include offering incentives for reusable cup usage and redistributing surplus food through its partnership with FoodShare (Starbucks Stories & News, 2023). While Starbucks has faced challenges in labor relations, particularly around unionization efforts, the company has publicly reaffirmed its intention to listen to employee concerns and strengthen its internal culture (Gelles, 2023).

Starbucks' consistent efforts to build trust with its stakeholders reflect the core principles of a Firm of Endearment. Its leadership philosophy, stakeholder engagement strategies, and social impact initiatives show that long-term profitability can be achieved by focusing on people and purpose rather than short-term gains. This integrated approach to leadership and responsibility positions Starbucks as a company that prioritizes both business excellence and ethical integrity.

References

Business Model Analyst. (2023). Starbucks corporate social responsibility (CSR). https://businessmodelanalyst.com/starbucks-corporate-social-responsibility/

Gelles, D. (2023, March 23). Starbucks' new CEO plans to work a half-day shift in stores each month. Harvard Business Review. https://hbr.org/2023/03/starbucks-new-ceo-plans-to-work-a-half-day-shift-in-stores-each-month

Starbucks Corporation. (2024). Our mission and values. https://www.starbucks.com/about-us/company-information/mission-statement/

Starbucks Stories & News. (2023). Starbucks FoodShare: Fighting hunger with rescued food. https://stories.starbucks.com/stories/2023/starbucks-foodshare-program-expands/