The Convergence of Business and Economics Principles

Michael Chibba and John Luiz

World Economics, 2021, vol. 22, issue 3, 141-156

Abstract: How did Starbucks grow from its origins as a purveyor of roasted coffee beans to its ubiquitous presence, in a few decades, as the leading global coffee chain? What are the business and economics principles of its phenomenal growth? The firm's rise rests on the mantra and guiding belief that doing good is good for business, as this promotes trust (an emerging economic concept) in the Starbucks brand. Drawing from practice-based observations made over many years, and accompanying analysis, we sketch the ten pillars of Starbucks's impressive success. Finally, this article delineates the linkages to behavioural economics.

Date: 2021
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