It is important to focus on employees and customers when considering the ways in which Starbucks is impacted by the principles of stakeholder ethics. C. coffee and tea growers* In China, Ikea allows its visitors to take naps on a. business should behave ethically, focusing only on environmentalism As for ethical duties, they are standards based on human principles of right from wrong. Berrett-Koehler Publishers. a hypothetical situation in which rational people can arrive at a contract. Starbucks continually emphasizes its commitment to corporate social responsibility. d. the resistance to a culture or way fo life emphasizing consumer goods, the lifestyle characterized by the acquisition of goods and services, which commercial transaction in the New World exemplifies the complexity that results when different cultures, experiences, and ethical codes come into contact? b. Sarbanes-Oxley The normative approach most appropriately Intellectual- includes knowledge, wisdom, and prudence (the most important one). Laplume, A., Karan, S. & Litz, R. (2008). An ethical financial advisor must ________. Applicants must submit a complete application to receive an interview. normative, descriptive, and instrumental approaches. What CSR lesson did Starbucks convey when it closed its stores for a day? D. dining/food service, Which of the following are stakeholders? The access economy is a business model where goods and services are traded on the basis of access rather than ownership. The Porter's Five Forces analysis of Starbucks Corporation shows that these competitors and related industry factors and market factors combine to create the strong force of competitive rivalry in the food service industry environment. CAFOs are condemned by animal rights activists as being harmful to the It is also competing with companies like Peet's Coffee & Tea Company, which have more exclusive products. d. They have ruled that symbolic speech is always protected. The viewpoint articulated by Friedman has slowly given way to a more expansive view of business ethics that is based on the principles of stakeholder theory. Among the most important stakeholders with regard to Starbucks are the company's employees, customers, suppliers, investors, government, and the environment. Take airbnb for example, accommodations are not inspected while in a hotel, they are. a. implementation of values Partners with stakeholders and business hiring managers to ensure that the project has the skillsets and resources required for delivery. Defectives16149111581216171315109121411871215916131110\begin{aligned} Stakeholder theory and organizational ethics. "Business and trade" is defined as the exchange of goods and services in a dedicated market for the purpose of commerce and creating value for its owners and investors. A trade secret is a form of intellectual property protection and is easier to protect than a trademark or patent. Having theoretical approaches to stakeholders highlights The people in this economy have $20 million in money, and they deposit all their money in Humongous Bank. Applying the big box store example from the chapter, which conflicts demonstrate that stakeholder claims vary? d. a company's duty to maximize profits for stockholders as specified in federal law, the doctrine that a corporation has some of the same legal rights and responsibilities enjoyed by natural persons, what are the three components of the triple bottom line. as compromising the mission of Ben & Jerrys as envisioned by its founders. Large corporations such as They What is a "pay-to-pollute" system that charges a fee or tax to those who discharge carbon into the air? Starbucks baristas are paid above the minimum wage, even at the entry-level position. a. pollution tax B. government liaison/lobbying director (Select all that apply.) How can entrepreneurs best ensure their customer-service vision is passed on to employees? When it comes to paying their "duties" to society, a corporation can do that by donating to places that need it or by using eco-friendly products. Enculturation refers to the process by which humans learn the rules, customs, skills, and values to participate in a society. d. Corporate personhood, what is a "pay-to-pollute" system that charges a fee or tax to those who discharge carbon into the air? want companies to treat stakeholders well to encourage customer and employee loyalty. d. cap and trade tax, a " moral minimum" means which of the following? reidentify stakeholders. This is a lofty goal, especially given Coke products are B. amenities* Legal duties of a corporation are the legal standards that are in governmental laws for example, a duty to report a felony or to keep premises clean. being committed to ethical business practices. Make a list of Starbucks' goals. An external stakeholder is someone who a company recognizes that makes decisions concerning operations. D. rules*, What was the reason for Scarlett Johanssons withdrawal from a recent movie? c. Compute and plot the A, B, and C zone boundaries on the p-chart. There are also organizations. B. c. a business owner's protection against loss of personal assets This incident caused a global Which of the following is not an example of a diffused shareholder? a. courage, decorum, and accountability Which of the following are steps in the MITRE stakeholder process? We will send [DOCUMENT_TITLE] to your email. a. the "purchase" of Manhattan A. minority- and women-owned small business owners* Employees are one of the most important internal stakeholders of Starbucks. protect than a trademark or patent. Caring about employees as well as how their customers is doing will always be worth it in the long run. Aristotle believes that prudence plays the major role because it helps individuals avoid excess and deficiency. Starbucks is an American multinational chain of coffeehouses that retails handcrafted coffee, fresh food items and tea. (Select all that apply.). AACSB: Real-world, Difficulty: Moderate For the fiscal year 2022, group revenue increased by 55 per cent to $1.1 billion from $712 million in the previous year, and this resulted in a profit before tax of $53.7 million compared to a . Some Starbucks stores have been accused of deliberately higher only part-time workers for limited numbers of hours for the purpose of avoiding the provision of healthcare and other benefits. A. milk producers* Speaking at the annual shareholders meeting in . His expertise also extends to areas such as leadership, corporate responsibility and business strategy. CSR and greenwashing are the same concepts. Nam risus ante, dapibus a molestie consequat, ultrices ac magna. Starbucks then took the step to close its thousands of US stores to conduct racial bias Global store sales increased 20% year-over-year, led by a strong 22% average increase in sales across all North American stores. B. marketing* True or False: CSR and greenwashing are the same concepts, True or False: it is important for executives to interact with outside-environment stakeholders such as media and government, True or False: the most important function of the board of directors is to hire the president of chief executive officer, True or False: all stakeholders must be treated the same, which of the following are the opposing views of how large, publicly held corporations should approach social responsibility and ethics? c. Assume that Humongous bank is part of a multibank system. have? As Starbucks, we can either choose to rise to this moment or stand idle. A trade secret is a form of intellectual property protection and is easier to a. honesty and integrity b. virtue ethics and utilitarianism c. loyalty to management d. respect for business diversity honesty and integrity True or False: The environment is not considered a stakeholder false . Starbucks Coffee Company supports its competitive advantages through the characteristics of its corporate structure. He has the following security-related information: Parvalue$1,000Couponinterestrate6%Taxbracket20%Cost$930Yearstomaturity10\begin{array}{llll} \end{array} Some prioritization is particular to insufficient. From just a narrow storefront, Starbucks offered some of the world's finest fresh-roasted whole bean coffees. changes. influence suppliers working conditions. Course Hero is not sponsored or endorsed by any college or university. Rawls's theory of justice views individuals as human resources, with their natural state as needing governance, and subjects them to a social contract of subjugation. According to Donaldson and Preston, what are the three theoretical approaches to considering stakeholder claims? Starbucks competes with many other coffeehouses, including Dunkin' Donuts, McDonald's, and Caribou Coffee. A common law or principle stating that officers, directors, and managers of a corporation are not liable for losses incurred when the evidence demonstrates that decisions were reasonable and made in good faith is known as ________. Corporations, directors and managers are all protected by laws saying that in most circumstances, their losses in case of business failure cannot exceed the amount they paid for their shares of ownership. How has Starbucks used technology to improve its products? d. business should behave ethically, fulfilling a strategic mission, business should behave ethically, being responsible to all stakeholders, which of the following are starbucks' stakeholders? ), Explore over 16 million step-by-step answers from our library, icitur laoreet. Customer relations are also an essential component of the business model that has been developed by Starbucks. Managing and executing the strategy of a company, B. Supervising middle and senior management, D. Evaluating the salary and benefits of senior management*, Campbell Biology (Jane B. Reece; Lisa A. Urry; Michael L. Cain; Steven A. Wasserman; Peter V. Minorsky), Civilization and its Discontents (Sigmund Freud), Chemistry: The Central Science (Theodore E. Brown; H. Eugene H LeMay; Bruce E. Bursten; Catherine Murphy; Patrick Woodward), Educational Research: Competencies for Analysis and Applications (Gay L. R.; Mills Geoffrey E.; Airasian Peter W.), Forecasting, Time Series, and Regression (Richard T. O'Connell; Anne B. Koehler), Brunner and Suddarth's Textbook of Medical-Surgical Nursing (Janice L. Hinkle; Kerry H. Cheever), Principles of Environmental Science (William P. Cunningham; Mary Ann Cunningham), Business Law: Text and Cases (Kenneth W. Clarkson; Roger LeRoy Miller; Frank B. It In some * Nam risus ante, dapibus a molestie consequat, ultrices a, View answer & additonal benefits from the subscription, Explore recently answered questions from the same subject, Explore documents and answered questions from similar courses. A. chief legal officer : an American History (Eric Foner), Psychology (David G. Myers; C. Nathan DeWall), Biological Science (Freeman Scott; Quillin Kim; Allison Lizabeth), The Methodology of the Social Sciences (Max Weber). training. Car design should focus on being competitive on the road. Answer: False, True or false? True or False: The environment is not considered a stakeholder, True or False: Goodwill . d. Samsung's recall paid refunds and limited potential lawsuits, Samsung's recall paid refunds and limited potential lawsuits, what was the reason for Scarlett Johansson's withdrawal from a recent movie? PR was necessary for activists to gain a following, formulate a common message against Starbucks, and keep the company accountable to the public for this incident. beds to show customers the available bed sizes. Q: Corporate-level strategy is best described as: a. strategies firms implement to gain a competitive advantage by selectin. __ A program where students work on campus to earn money. On one hand, Starbucks is frequently praised as a company that is committed to corporate social responsibility and stakeholder ethics when it comes to labor relations (Miles, 2012). Starbucks confirmed the results of the vote to CNN Business. with Starbucks in lieu of a civil action against the corporation. the belief that business is not culturally neutral. Blooms: Apply chief executive officer. new CEO with a tourism background. he acknowledged that business was important in nurturing and preserving democracy in Athens. In 1981, Howard Schultz (Starbucks chairman and chief executive officer) had first walked into a Starbucks . Stakeholder Relationships: It appears there are growing disconnects among at least some of their stakeholders. the importance of companies considering the priority of such parties. Why does a Kantian view typically not govern most management decisions? STEP 1: DEFINE STAKEHOLDER ENGAGEMENT Discuss the meaning of stakeholder engagement. Copyright 2023 StudeerSnel B.V., Keizersgracht 424, 1016 GC Amsterdam, KVK: 56829787, BTW: NL852321363B01, Chapter 3: Defining and Prioritizing Stakeholde, A. minority- and women-owned small business owners*, A. Employee diversity in the workplaces can enhance performance and drive innovation. Some ads exaggerate or distort what goods or services deliver. Milk, which is a main ingredient of the ice cream, is often sourced from confined-animal feeding Also, it is crucial that the company inform A normative approach views stakeholders as ends in themselves rather \text { Cost } & \$ 930 & \text { Years to maturity } 10 & The following is a guide to engaging successfully with stakeholder groups. f(x)=x48x2+16, (A)[1,3](B)[0,2](C)[3,4](A)\ [-1,3]\qquad (B)\ [0,2]\qquad (C)\ [-3,4] Blooms: Apply For the coffee producers, Starbucks' position with regards to their needs can have a tremendous impact on the ways in which other coffee purchasers treat them as well. It is important for executives to interact with outside-environment stakeholders such as media and government. Secondary stakeholders are media outlets, government, enviromentalist groups, and their competitors. Fusce dui lectus, congue vel laoreet ac, dictum vitae odio. March 16, 2022 4 min read. C. legal compliance* In several sentences, describe one ethical draw-back of job-sharing. From the beginning, Starbucks set out to be a different kind of company. gender Unless key leaders have a vision for the organization and themselves, and a path to achieving it, there can be no balance of beliefs about profitability and responsibility, or integration of business with culture. Blooms: Remember AACSB: Reflection, Application, Difficulty: Difficult MANGMT 4970 EXAM 1 (QUIZ QUESTIONS & CONCEPTS), Allen Cognitive Levels (ACL) & Allen Diagnost, CompTia A+ 220-1001 Core 1 Certification Prac, John David Jackson, Patricia Meglich, Robert Mathis, Sean Valentine, Service Management: Operations, Strategy, and Information Technology, Information Technology Project Management: Providing Measurable Organizational Value. Advocates of the right to bear arms as well as proponents of gun control have criticized Starbucks for the companys policies regarding the carrying of firearms in Starbucks stores by customers. Shareholders are certainly an important component of the stakeholders of a corporation (Freeman & Moutchnik, 2013). The phrases Starbucks and Coffee were later removed from the cup so that the brand might potentially extend beyond coffee products. UmweltWirtschaftsForum, 21(1), 59. Q: The focus on chapter 6 is diversification which can mean different things for companies depending on the context. Shippers. Answer: False. An analysis of perceived priority of shareholder impact should include which of the following? standards of behavior for professional and personal lives, to uphold honorable standards of behavior. Establish trust. b. means supporting dogmatic rationality In addition with many other laws, current employees are not to work for competitors or set up competing companies that divert potential clients and opportunities. Which legislation was passed in 2002 that mandates reporting transparency by businesses in areas ranging from finance to accounting to supply chain activities? Ability to create, manage and deliver Workday reports and Dashboards for different stakeholder groups; Experience of managing and support of Operational changes such as re-organisations, identifying impacts on Workday; Experienced with internal and external audits, able to demonstrate a positive improvement approach In a short paragraph, explain how entrepreneurs can still remain ethical while focusing on profit. Fu, itur laoreet. In Richard DeGeorge's humanities model, business ethics would prepare students to do certain specific things. Maintain strategic stakeholder engagement by working alongside fellow Project Delivery teams, Senior Management and your customers delivery lead/function to identify strategic issues; Oversee the quality assurance of estimates or model within the function to ensure they are fit for purpose Which is the best example of a recent company crisis caused by poor leadership? a. leads people to treat others as a means to an end The most immediately visible and representative employees of Starbucks are the individuals that engage as servers in Starbucks stores. &\begin{array}{ccccccccccccc} celebrated coffee and the rich tradition, but that also brought a feeling of connection. consciousness and product mission, is now owned by an international conglomerate, Unilever. d. corporations need to manage expectations of customers, customers are considered high-priority stakeholders, True or False: sustainability is a short-term approach to the interaction between business activity, environmental responsibility and societal impact on the environment and other stakeholders, True or False: social responsibility does not have to mean being unprofitable, True or False: the concept of limited liability means the owners of corporations are protected by laws stating that, in most circumstances, their losses in case of business failure cannot exceed the amount they paid for their shares of ownership, which court decision rule that corporate and nonprofit business entities may seek to persuade the voting public by spending an unlimited amount of money on political advertisements? Our responsibility starts with being accountable to Starbucks stakeholdersour partners, customers, shareholders, suppliers, community members and othersand communicating openly about our business practices and performance. b. courage, honor, and loyalty A. milk producers* B. urban and suburban communities* C. coffee and tea growers* D. plastic-cover manufacturers; Difficulty: Easy Blooms: Understand AACSB: Ethics. D. Present information to the board of directors. Blooms: Apply Explain how Ikea has had to adapt its business model in different countries. Pay Range : $123,600- $193,200/ annually. Blooms: Remember Rachel Carsons 1962 book, True or false? Secondly, Starbucks Coffee Company is a big name and anybody loves to be associated with a big company. Stakeholders: Essentially contested or just confused? Blooms: Understand Additionally, Starbucks has also provided educational assistance to select employees by means of academic scholarships. Often there is a hierarchy that places consumers or customers first. (Select all that apply.) Using this, calculate the after-tax cost of the Sony bond given Davids tax bracket. Certainly, Starbucks is a firm that contains or is associated with many kinds of stakeholders. Pinched supply chains, the decimation caused by COVID, heightened tensions and political unrest, a racial reckoning and a rising generation which seeks a new accountability for business. Which of the following laws ensures that employers provide a workplace environment free of risk to employees' safety and health? b. set of cultural norms In several sentences, describe one ethical issue related to the "access economy". If Starbucks follows a strategy of competing in more than one business product, which of the following goals could it accomplish? pilgrimages in response to passenger stakeholder interests in making such trips. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Employees Which of the following describes the relationship, if any, between the vision and the mission for a company such as Starbucks? Blooms: Application This includes race, color, religion, national origin or ancestry, sex and so on. Starbucks is a global coffee company that has a diverse group of stakeholders who have an interest in the company's performance and actions. In other words, enculturation is taking control over one's own culture, whereas acculturation is the merge of two cultures. c. Citizens United results to decision makers in management. The principles of stakeholder ethics overlap with the parallel principles of corporate social responsibility. Thornton & Ross, part of the Stada group, are one of the UK's fastest-growing, leading producers of household pharmaceutical products & own some of the country's most loved brands such as Covonia, Hedrin, Cetraben as well as the leading disinfectant Zoflora. d. challenges in decision-making, which of the following best exemplifies what ancient athenian ethicists believed? b. the Dutch and Native American trade Stakeholder theory: Reviewing a theory that moves us. As an illustration, Starbucks once became the focus of an alleged controversy involving what some people have claimed is a war on Christmas by issuing holiday cups that were neutral as far as the absence of any references to specific holidays. Which of the following are Starbucks' stakeholders? The following are the main stakeholders in Starbucks Coffee's business: Employees (baristas, partners) Customers Suppliers (supply firms, coffee farmers) Environment Investors Governments Employees. What are some amenities companies offer employees that go beyond a legal minimum or What constitutes a reasonable profit may be unfair. In the Supreme Court ruling Citizens United v. Federal Election Commission, which Amendment was at the center of the case? On the other hand, Starbucks has often been criticized as a firm that is hypocritical in his approach to such matters by claiming to be a company that abides by the principles of stakeholder ethics while treating its employees poorly. Decaf Coffee Market Size is projected to Reach Multimillion USD by 2028, In comparison to 2023, at unexpected CAGR . this is an example of.. Today, Starbucks hosted its 30 th annual meeting of shareholders virtually. 12 & 14 & 11 & 8 & 7 & 12 & 15 & 9 & 16 & 13 & 11 & 10 & Identify and describe two factors that determine the ethics of "gift-giving" as opposed to bribery. The Starbucks franchises in New Zealand have also been accused of underpaying their younger workers. c. the freedom and ability to make choices based on one's perception of right and wrong AACSB: Real-world, Difficulty: Easy Which of the following are Starbucks' stakeholders? is corporate opportunism and the possibility that committed stakeholders are exploited. Blooms: Analyze c. utmost conduct The two complaints most frequently filed with the Equal Employment Opportunity Commission, which strives to eliminate racial, gender, and religious discrimination in the workplace, are sexual harassment and racial harassment. (Select all that apply. Mellody Hobson, Starbucks Board of Directors chair, joined Kevin Johnson, president and chief executive officer, for opening remarks following today's news that Johnson made the personal decision to retire from . B. Starbucks has also faced lawsuits concerning efforts to withhold tips from employees. a. the lifestyle characterized by the acquisition of goods and services A bribe is given with either an explicit or implied expectation of return that will benefit your business while a gift is given without any expectation of return and does not benefit your business. D. plastic-cover manufacturers, Which are some types of stakeholder relationships that a local chamber of commerce would Which of the following statements does not depict deontology? true or false: during the industrial revolution and the postindustrial era, the goal of businesses was to earn as high a profit as possible for shareholders, with little concern for outside stakeholders, true or false: even in business, ethics is not about human morality but rather about human consumption, true or false: unless key leaders have a vision for the organization and themselves, and a path to achieving it, there can be no balance of beliefs about profitability and responsibility, or integration of business with culture, true or false: religion's role in business is less certain today; we are perhaps more likely to see a universal, secular code of ethics develop than to see religion serve as common ground for different cultures to come together, businesses that wish to achieve the dual goal of human flourishing and responsible profits should model which ethical behavior? Once data are validated, managers present the (Select all Access to over 100 million course-specific study resources, 24/7 help from Expert Tutors on 140+ subjects, Full access to over 1 million Textbook Solutions. long-term dialogue to inform the companys decision making and as a core component of its (Select all that apply.) AACSB: Real-world, Difficulty: Moderate B. her portrayal of the character was not approved such as Yelp where customers share their good and bad experiences. Which of the following are well-documented outcomes? Do you think she believes the brain chemistry of romantic love and the response to rejection is rational or irrational? Since the advent of Phillips, R. (2003). premise by lawyers and legal-aid groups. Blooms: Evaluate They can be found working as baristas, store managers, or regional executives. Miles, S. (2012). Participate in and support community . Managing and executing the strategy of a company About Starbucks, the main challenges related to economic, social, and technological factors. Blooms: Understand AACSB: Application, Difficulty: Moderate When expanded it provides a list of search options that will switch the search inputs to match the current selection. (Select all that apply.). Also, a bribery is very unethical and can look bad for the business. Fusce dui lectus, congue vel laoreet ac, dictum vitae odio. Difficulty: Moderate (promenades; tarries). Donec aliquet. I say this because with many different opinions being thrown in the air, being on the same boat is not the easiest thing. (Select all that apply.) C. Stakeholder perceptions have a large impact on success. Answer: False, True or false? Urban and suburban communities Provide at least two examples of how employees' expectations of work have changed in modern business. Suppose that they do, and receive something completely different than what was shown on the market, do you think they will keep buying from that place? JFR Crew Member applicants must be a full-time high school student between the ages of 16-18 as of July 1 of the current year. that uses billions of liters of water in a community where many people are without water. Find the absolute maximum and minimum, if either exists, for each function on the indicated intervals. Describe what type of goal each is. Which of the following is not a belief that businesses hold? D. compensation. * C. her portrayal of the character offended shareholders OSX Ethics TB Ch03 Defining And Prioritizing Stakeholders, Chapter 3: Defining and Prioritizing Stakeholders, Difficulty: Easy What is the ethical issue behind issuing disaster insurance? Yet there A decision to be less local, state, national, and international laws and regulations. D. her portrayal of the character offended stakeholders*, Which of the following is a resource made available to employees, in addition to salary? b. applying U.S. law regarding child labor globally How does consumer thought affect purchasing?

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