It has always been, and will always be, about quality. We're passionate about ethically sourcing the finest coffee beans, roasting them with great care, and improving the lives of people who grow them. We care deeply about all of this; our work is never done.? Our Partners? We're called partners, because it's not just a job, it's our passion. Together, we embrace diversity to create a place where each of us can be ourselves. We always treat each other with respect and dignity. And we hold each other to that standard.
When we are fully engaged, we connect with, laugh with, and uplift the lives of our customers- even if just for a few moments. Sure, it starts with the promise of a perfectly made beverage, but our work goes far beyond that. It's really about human connection. Our Stores When our customers feel this sense of belonging, our stores become a haven, a break from the worries outside, a place where you can meet with friends. It's about enjoyment at the speed of life-sometimes slow and savored, sometimes faster. Always full of humanity.
Every store is part of a community, and we take our responsibility to be good neighbors seriously. We want to be invited in wherever we do business. We can be a force for positive action- bringing together our partners, customers, and the community to contribute every day. Now we see that our responsibility-and our potential for good-is even larger. The world is looking to Starbucks to set the new standard, yet again. We will lead. 1. 3. 5 Our Shareholders We know that as we deliver in each of these areas, we enjoy the kind of success that rewards our shareholders.
We are fully accountable to get each of these elements right so that Starbucks-and everyone it touches-can endure and thrive. From all what mentioned above that Starbucks is aiming to success through quality of product, diversify in business and place, to satisfy customers and shareholders, through pleasant and nice existence nearly to everyone. The general financial performance for Starbucks in 2008 was declining from the previous years dramatically. The following analysis will show this fact.
Both the ROE and ROA are lower than the industry's average, which means that the company is not using both the equity and their assets properly to increase their revenue. Starbucks margins are lower also that the industry's average, especially in 2008 where the net profit margin reduced to 3. 03 from 6. 3 in 2007. Starbucks generally manages their debs and liabilities wisely, and this considers a financial strength for the company. 1. 4 Corporate governance Board of directors As part of Starbucks mission they are committed to maintain their uncompromising principles while they grow.
In this regard, their Board of Directors has adopted governance principles and committee charters to lead Starbucks governance practices. Currently, the board has 9 directors, a substantial majority of whom meet all of the independence requirements of NASDAQ(r) and the U. S. Securities and Exchange Commission. Of the nine members of Starbucks board, one is Latino, two are African American (one of which is female), and one other female also serves on the board. Starbucks president and CEO Howard Schultz chair the board.
In Starbucks there are well-defined criteria for the selection of new board members, foremost being a clear demonstration of their own personal integrity and ethics. Board diversity is sought in terms of members' personal and professional backgrounds, gender, race, ethnicity or other differentiating characteristics, enabling a wider range of opinions and perspectives to be considered. This criterias of selection affected the company in a very good way that gave it the opportunity to succeed in the international market. That the diversified background, education, culture and gender in the board was one of the greatest Starbucks strong points.
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