Starbuck’s Triple P and Circular Economy

Starbuck’s Triple P and Circular Economy

1.       How are they doing with this Triple Bottom Line approach to running their business? Are they doing well on all 3 dimensions?

Starbuck’s is doing extremely well in regards to the triple bottom line approach. They continue to look at each area to see what can be improved. Profit is their ability to continue to gain new vision as to what the customers want to see and or desire from them as a company. They utilize their customer’s ideas via technology and other sources. They are always aware of the needs of their employees, as we have seen with their tuition initiative. Starbucks has a huge connection with the community and the environment. This is a great way for them to gain positive support via word of mouth.

2.       How does their approach fit with the “circular economy” article?

They are trying to encompass a circular economy model but given the nature of the service they provide, that will be extremely difficult. Human beings have good intentions when it comes to wanting to do the right thing but ease and convenience tends to control their lives. They can offer or sell all the reusable cups they want but it will not reduce the number of cups and other disposables they require for operations. I was the chairman of the recycling committee where I worked and trying to put circular economy into motion was a huge undertaking, we are dealing with free will. I found that taking the redundant waste at the beginning was more beneficial but in the case of Starbuck’s they only have a couple of choices. Biodegradable cups, which adds cost and or partner with a company that can take used paper cups and recycle them into something else of value, not an easy task in regards to food related items.

3.       Does this corporation mission and set of values fit with marketing?

In my opinion it does, they have identified with numerous groups and have developed a following. Their credibility has increased and keeps increasing. They continue to develop and grow in ways set forth by customer satisfaction and desire. Customer is king, this is evident when we review the highlights of all of the most successful company’s such as Nordstrom’s. Appealing to the masses in ways that touch them emotionally or a way that identifies with a cause or ideal.