How Starbucks, Walmart, and ESPN are innovating from within
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How Starbucks, Walmart, and ESPN are innovating from within
"Shortly after taking the Starbucks job a year ago, Niccol launched a back-to-basics strategy. He culled the bloated menu, launched an ad campaign that refocused consumers' attention on the quality of the coffee itself, jettisoned those printed drink-order stickers on cups for cute handwritten Sharpie notes, and worked to improve the physical experience of sitting in a Starbucks and enjoying your drink."
"When people think "innovation," they tend to think "startup." There's no question that the most transformative ideas in business often emerge from young ventures: new entrepreneurs building new companies powered by new ideas. At Fast Company, we peer around a lot of corners, trying to identify the most compelling stories emerging from this undiscovered terrain. But I have a little secret to share."
People often equate innovation with startups, but established companies can also produce transformative ideas by reinventing core experiences. Fast Company seeks compelling examples across overlooked corners of business. Starbucks' CEO Brian Niccol implemented a back-to-basics plan: he reduced an overextended menu, launched ads emphasizing coffee quality, replaced printed order stickers with handwritten Sharpie notes, and improved the in-store experience. Prior emphasis on operational efficiency, including a sophisticated pickup app, had diminished some of the brand's magic. Niccol stabilized the company but has yet to meet shareholder expectations and plans a second-year redesign of 1,000 stores.
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