If I were still a student, and I had a final tomorrow, I would not be happy. Why? Well, the studying fuel that is so easily found across the street from Owen (or the two that are both two blocks from my office) won't be available tonight. That's right, all U.S.-based Starbucks are closing. If only for a night.
While lost revenues may not seem brilliant to you finance types, Starbucks, recently facing some tough times in terms of growth and projections, has chosen this as a way to motivate their staff, clearly communicate their objectives and likely, boost that Barista morale.
The press release calls it "a historic in-store education and training event" that is "designed to energize partners and transform the customer experience." When you can communicate one message to all of your employees at once? That's historic, and an opportunity.
Starbucks used to be known for its unique Baristas with great memories. They knew their customers, knew their drinks and whipped 'em up faster than you can say Mocha-choca-lat-a-ya-ya. But lately that's been diluted more than your average cup of joe. Starbucks has lost the differentiation and gained commoner status. That leads to business troubles, low morale, and creative executives wondering how to mass communicate a vision and mission that have fallen by the wayside.
What's the real message here? Well, think about why Starbucks would forgo at a minimum, $5 million in revenues* just for some training? It's more than that. It's a chance to revitalize what used to be a secret weapon. Here's hoping MBA students are starting to learn that human capital is king, and in the service business it will make or break your empire.
*Typical, major, completely estimable without real data MBA assumption: 7100 stores, 150 transactions in three hours at an average of $5/transaction.
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