- the action or process of innovating.
Starbuck has always been known for being an innovative company. From business cases created by Harvard, Stanford, MIT and other business schools to books have taken the time to explain the reasons and evolution about the company that has reinvented the business of coffee.
Starbuck has innovated in several concepts, perhaps the both main ideas have been the third place (nor the house or work) and now generating a digital payment application which is by the way one of the most commonly used in America. These improvements maintain the focus to enhancement in customer relations and improve the shopping experience, and adapt the company to to the fluctuations of the market and the new trends.
It is important to analyze how the companies face different periods of change out victorious. The market expect that companies quickly decode the keys in every moment of time and will take appropriate decisions not only for the present but for the future and still remain be leaders in the morning.
Starbuck generates innovations to strengthen its business through a complete integration. A lot of questions could arise like: where is the limits for the innovation? will who mark the limit: the market or restrictions within the company? What will be the long term market’s reaction to Starbucks proposal?
I could not ensure that Starbucks will always keep one step ahead of the rest, however is remarkable his commitment to innovate and detecting both market needs and turbulences. Though, in my opinion is not only innovation is what keeps Starbuck a step forward but also is persistence which allows you to achieve results throughout time: pursue and implement new solutions to existing problems and if the solutions are not ideal persist looking for a new alternative.
- firm or obstinate continuance in a course of action in spite of difficulty or opposition.the continued or prolonged existence of something.
The combination of innovation and persistence is the long term that produces results that can be maintained over time.