The growth and success of Starbucks has resulted from Smith's ability to work with Shultz in making their visions a reality. As Smith retires this month, Starbucks decided to honor him by establishing the company's first scholarship program under his name.
The loss of this valued leader will be felt company. However, the foundation Smith has created during the critical years will ensure sustainable profitability and growth for the company. The chain will more than double the number of stores in the United States in the next six years to 15,000 locations, with plans to multiply its stores in China, India, Brazil, and Russia. (A long-term goal was set for 30,000 stores total).
While some believe the company is growing too rapidly and repeat the mistake McDonald's made by opening too many stores of offsetting its own profits, Starbucks still continues to remain strong. …
