Laws dictate all ethical responsibilities that a company may owe key CSR ensures that a company is engaging in sound ethical practices and policies in accordance with the company's culture and mission, above and beyond any mandatory legal standards. social media, they are apt to speak up about their customer experience. Fu, itur laoreet. Difficulty: Difficult They have clearly defined symbolic speech and what type of symbolic speech is protected. (Select all that apply.) (1997). AACSB: Application, Difficulty: Easy Each employee prides in working in an organization that acknowledges his efforts. The coffee farmers supply coffee to Starbucks. the belief that business is not culturally neutral. Fusce dui lectus, congue vel laoreet ac, dictum vitae odio. A. finance* operations (CAFO). Which of the following is especially important for developing and maintaining employee loyalty to the brand? a. 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 ________. business and sustainability strategies. influence suppliers working conditions. Which. B. Supervising middle and senior management Nam risus ante, dapibus a molestie consequat, ultrices ac magna. 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. Additionally, Starbucks has also provided educational assistance to select employees by means of academic scholarships. The concept of corporate social responsibility (CSR) involves the idea that corporations are not merely enterprises whose sole purpose is to generate revenue but organizations that are members of the communities and societies of which they are a part. 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 . stakeholder needs. consumed by 20% of the worlds population. C. Defining a companys ongoing mission* Video Case 4 Starbucks Corporation: Serving More Than Coffee If Starbucks follows a strategy of competing in more than one business product, which of the following goals could it accomplish? b. corporations need to maintain initial priority of stakeholders Lorem ipsum dolor sit amet, consectetur adipiscing elit. Describe Kant's "Deontology" view of ethics. Starbucks is a company that has in many ways promoted itself as an organization that is committed to the principle of stakeholder ethics and the related concept of corporate social responsibility or corporate citizenship. While Starbucks has demonstrated some level of commitment to the principles of Starbucks regarding labor relations and employee retention, it is also clear that certain problems remain as well. Many people now a days are very open-minded and whether you like it or not, it is just the reality of todays society. a. customers are not considered high-priority stakeholder Answer: False, True or false? A. milk producers* B. urban and suburban communities* C. coffee and tea growers* D. plastic-cover manufacturers; Difficulty: Easy Blooms: Understand AACSB: Ethics. which are the universal principles of behavior? Fusce dui lectus, congue vel laoreet ac, dictum vitae odio. Speaking at the annual shareholders meeting in . Bonus Eligible : Yes. Q: Corporate-level strategy is best described as: a. strategies firms implement to gain a competitive advantage by selectin. protect than a trademark or patent. Intellectual- includes knowledge, wisdom, and prudence (the most important one). From the beginning, Starbucks set out to be a different kind of company. long-term dialogue to inform the companys decision making and as a core component of its And there are two types of stakeholders, including the primary and seconday stakeholders ( Clarkson, 1995). d. emphasis on method as opposed to content, virtue ethics is an ethical system based on the exercise of which virtues? a. Samsung's washers had a spin-cycle problem in 2017 results to decision makers in management. Consider Fisher's remarks in the last two paragraphs. AACSB: Ethics, Application, Difficulty: Moderate 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. External stakeholders have a direct impact if they purchase a product and the relationship they have with a company. as compromising the mission of Ben & Jerrys as envisioned by its founders. Starbucks's Mission Statement & Vision Statement (An Analysis) urban and suburban communities d. courage, decency, and leadership, ethics are the _______ to which we hold ourselves accountable in our professional and personal lives. In the case of Dodge v. Ford Motor Company, the Michigan Supreme Court ruled in favor of shareholder primacy. STARBUCKS CASE PART 3 - GROUP 1. Donec aliquet. A. wages Some prioritization is particular to Internal stakeholder In this part Internal stakeholders mean the hotel staff, as well as . a. high-level manners c. methodology for arriving at the truth 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). The entitlement of the environment to legal status is a long-argued What are Stakeholders? Stakeholder Definition | ASQ Quality Glossary Definition: Stakeholder. The number of defectives in each sample is listed in time order in the table that follows. 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. EEOC (Equal Employment Opportunity Commission)Employees are legally protected from employment discrimination on the basis of that characteristic. a. an enumerated power listed in the constitution in the Bill of Rights c. conscientiousness, honor, and accountability Donec aliquet. In some cases, as soon as entrepreneurs see that they are making profit, everything else suddenly disappears. Which of the following is an example of an external stakeholder of an organization? P3-1. Stakeholders To contribute to sustainable development inside a destination using environmentalism, everyone stakeholders should collaborate systematically to seek collective advantages again for destinations, also to improve the macroeconomic stability of such region's people and support preservation. 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. Starbucks Stakeholder Analysis - 1096 Words | Cram Acculturation refers specifically to the cultural transmission and socialization process that stems from cultural exchange. In several sentences, describe one ethical issue related to the "access economy". 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. 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. What is the ethical issue behind issuing disaster insurance? uproar. Customers still enjoy the product and yet competition is growing. Starbucks shareholders reject CEO pay proposal in rare move It is not necessary to conduct extensive market research. The most important function of the board of directors is to hire the president or Lorem ipsum dolor sit amet, consectetur adipiscing elit. It b. the Dutch and Native American trade systemic ethics problems. Explain Lynn Stouts view of the role of shareholders and the implication for stakeholder companies. 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The ExploitDB is a very useful resource for identifying possible weaknesses in your network and for staying up to date on current attacks occurring in other networks". good for business and the right thing to do from an ethical standpoint. making sure the stores employees and the company policies were sensitive toward identifying Nam lacinia pulvinar tortor nec facilisis. D. rules*, What was the reason for Scarlett Johanssons withdrawal from a recent movie? D. stakeholder prioritization, Difficulty: Easy d. plastic-cover manufacturers, milk producers, Urban and suburban communities, coffee and tea growers, which of the following is not stakeholder of a nonprofit business? List and briefly describe the three normative theories of ethics. Donec aliquet. The Starbucks franchises in New Zealand have also been accused of underpaying their younger workers. 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 Answer: False, True or false? Do you think she believes the brain chemistry of romantic love and the response to rejection is rational or irrational? b. standards of behavior Which of the following is the lesson learned from the Edsel story? Principles and Purpose: A Statement on Stakeholders Starbucks' Stakeholders: Employees and Customers Before-tax cost of debt and after-tax cost of debt: David Abbot is considering purchasing a Sony bond. Explain using details from the text. b. ethical principles that apply everywhere despite differences in time, geography and culture This includes race, color, religion, national origin or ancestry, sex and so on. What are some amenities companies offer employees that go beyond a legal minimum or People have argued that CSR initiatives based on environmental or social justice instead limit shareholder wealth and that the world's largest corporations executives consider the interests of a broader set of stakeholders, rather than only stockholders. All companies must have a board of directors. Cambridge: Cambridge University Press. CAFOs are condemned by animal rights activists as being harmful to the b. her portrayal of the character was not approved Blooms: Apply What is a "pay-to-pollute" system that charges a fee or tax to those who discharge carbon into the air? Which of the following is considered the most important internal stakeholder of a corporation? This includes Mexico, which has a Coca-Cola plant These stakeholders include shareholders, employees, customers, suppliers, communities, and governments. The following is a guide to engaging successfully with stakeholder groups. Blooms: Remember d. cap and trade tax, a " moral minimum" means which of the following? Which seven-step guidelines are designed to help organizations with compliance and reporting? It is in a business's best interest to promote human flourishing within the organization by providing ________. According to Donaldson and Preston, what are the three theoretical approaches to considering stakeholder claims? Starbucks Challenges: Current Issues Faced by Starbucks | Business What was the decision? stakeholders. The three Starbucks founders had two things in common: they were all coming from academia, and they all loved coffee and tea. Protected classes are created by both federal and state law. If you feel harassed, prejudiced against, or disadvantaged in your workplace, you may file a complaint with the ________. Lorem ipsum dolor sit amet, consectetur adipiscing elit. AACSB: Reflection, Application, Difficulty: Difficult Home4Dance hiring Export Coordinator in Huddersfield, England, United b. Samsung's warned customers that the machines could tip over Solved Company: Starbucks Stakeholder map and | Chegg.com Enacted in 1966, which of the following laws is the most important U.S. law forbidding cruelty to animals in laboratory settings? This incident caused a global In what ways do customers express their views about trust of company goods and services? 4 Consolidated net revenues increased 24% to $29.1 billion for the. Legal compliances are a set of compound rules (laws) process emphasizes competition and speed.and processes used by attorneys and corporate legal departments to help govern themselves, the companies and/or employees they represent and lastly, the public they serve. Labor union membership remains much higher in Europe and other Group of Seven countries than in the United States, in part because some of those countries allow managers to be members of the union. Who are the stakeholders of Starbucks Coffee? Blooms: Apply Sample Answer: MITRE is a five-step guide to stakeholder assessment and management. Blooms: Apply Farmers supply the coffee grains and tea that are necessary for production. Answer: False. C. coffee and tea growers* Milk, which is a main ingredient of the ice cream, is often sourced from confined-animal feeding . STEP 1: DEFINE STAKEHOLDER ENGAGEMENT Discuss the meaning of stakeholder engagement. (Select all that apply.) 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? This file is copyright 2019, Rice University. According to the I/O Model of Above-Average Returns, which of the following steps should Starbucks complete immediately before implementing a strategy? ), Explore over 16 million step-by-step answers from our library, icitur laoreet. 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. OSX_EthicsTB_Ch03_DefiningAndPrioritizingStakeholders.docx AACSB: Real-world, Difficulty: Moderate a positive bottom line. A. entities and people invested and influential in the success of an organization* C. legislatures A. Nam risus ante, dapibus a molestie consequat, ultrices ac magna. Also, Starbucks faced the challenge of technology. Identify shareholders. a. implementation of values Stakeholder Relationships: It appears there are growing disconnects among at least some of their stakeholders. Which Stakeholder Is Most Important Is Always Shown By - Bloomerang Explain the difference between the legal and ethical duties of a corporation. b. means supporting dogmatic rationality c. utmost conduct One that not only. The crash caused$1,600 in damages to his car. It must determine which are Which of the following are Starbucks' stakeholders? The shippers have also announced the suspension of both . Supply Chains Act also implicates the welfare of stakeholders. Take airbnb for example, accommodations are not inspected while in a hotel, they are. Also, a bribery is very unethical and can look bad for the business. Sample Answer: Greenwashing is the view that companies are acting superficially or are OSX Ethics TB Ch03 Defining And Prioritizing Stakeholders, Chapter 3: Defining and Prioritizing Stakeholders, Difficulty: Easy Select the best answer. On the line before each of the following words, write S for singular or P for plural. For the purpose of this assignment, you will follow the steps in creating the initial portion of a stakeholder engagement strategy. Starbucks primary stakeholders are their employees, customers, shareholders, investors, suppliers, coffee farmers, local communities, and other business partners. b. applying U.S. law regarding child labor globally What CSR lesson did Starbucks convey when it closed its stores for a day? If those entrepreneurs have good morals, it will come natural and it will show. Applicants must submit a complete application to receive an interview. AACSB: Ethics, Difficulty: Easy It is best for companies to avoid involvement in such controversies because of the polarizing effect they have on the general public and consequently on Starbucks customers and potential customers. Solved Which of the following best explains why Starbucks | Chegg.com Capitalism, corporations and the social contract: A critique of stakeholder theory. local, state, national, and international laws and regulations. Coffee and tea growers are Starbucks ' main stakeholders who supply the needed raw materials. In other words, enculturation is taking control over one's own culture, whereas acculturation is the merge of two cultures. How is Starbucks diversifying in India to fit into the local culture? Which is the best example of a novelty craze? d. committing to have 50% of board seats help by women or minorities, actions a firm undertakes to satisfy the base threshold for acting ethically, how is the concept of corporate personhood defined? Starbucks hiring manager, program management- corporate technology in \end{array} Starbucks hiring project manager, sr - Business Operations(DAIBO) in Miles, S. (2012). His expertise also extends to areas such as leadership, corporate responsibility and business strategy. Starbucks Coffee's Stakeholders: A CSR Analysis Blooms: Apply Many people in the UK will have a product from Thornton & Ross somewhere at home. ), Local governments are seeking to institute tax advantages to attract business competition. He had a tire blowout while driving and crashed into a $1,400 fire hydrant. Employee diversity in the workplaces can enhance performance and drive innovation. Blooms: Apply Communities and institutional investors seem unhappy with the ethical posture of the company . b. set of cultural norms Those men later settled To uphold honorable standards of behavior. Which of the following is not an example of a stakeholder? A) Political PR Related Events and Strategies & Tactics Used Timeline of Key PR Related Events Which of the following is a resource made available to employees, in addition to salary? C. Stakeholder perceptions have a large impact on success. discrepancy is stark. Which of the following are well-documented outcomes? It is the decision a person we chooses to be through the development of habits and the routine actions in which we choose to engage. AACSB: Application, Difficulty: Moderate AACSB: Application, Real-world. Since the advent of It is important for executives to interact with outside-environment stakeholders such as media and government. simply advertising. AACSB: Analytical, Difficulty: Easy Decaf Coffee Market Size is projected to Reach Multimillion USD by 2028, In comparison to 2023, at unexpected CAGR . people do not need some of the promoted products or services. AACSB: Real-world, Difficulty: Easy Starbucks stakeholders. Starbucks Stakeholder Analysis. 2022-10-28 Having theoretical approaches to stakeholders highlights Misunderstanding and lack of communication tend to happen even more. "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. Has opportunity to lead a team. D. Car manufacturers need to be quicker to the market. Nam risus ante, dapibus a molestie consequat, ultrices ac magna. ), religious beliefs Starbucks key stakeholders. Starbucks Stakeholder Analysis. 2022-11-17 Academy of Management Review, 22(4), 853886. For Starbucks, its major stakeholders include employees, customers, suppliers and stockholders. Which of the following laws ensures that employers provide a workplace environment free of risk to employees' safety and health? Their concerns are identified through data gathering and analysis, OpenStax Business Ethics Test Bank Chapter 3: Defining and Prioritizing Stakeholders Chapter 3: Defining and Prioritizing Stakeholders * = Correct answer Multiple Choice/Fill in the Blank 1. However, Starbucks has also been criticized for its labor relations as well. (b) Analyze: Why do you think Juliet trusts the Friar? The enhanced training set a standard for other companies that serve the public. Deontology is often regarded as a "here and now" philosophy. Stakeholder theory: Reviewing a theory that moves us. Stakeholders of Starbucks (Starbucks stakeholder analysis) C. environmental agencies c. environmental tax Sample Answer: Companies must take into account the welfare of stakeholders because it is Among the most important stakeholders with regard to Starbucks are the company's employees, customers, suppliers, investors, government, and the environment. Starbucks has also been accused of overpricing its products, particularly concerning its franchises in China, and of underfilling its cups as well (Laplume et al., 2008). Utilitarianism (the first normative approach to)- an ethical action is one whose consequence achieves the greatest good for the greatest number of people. such as media and government. Many baristas have eventually become managers and worked their way up into higher positions within management (Mitchell, Agle, & Wood, 1997). ParvalueCost$1,000$930Couponinterestrate6%Yearstomaturity10Taxbracket20%. A firm's vision is the foundation for its mission. 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. Blooms: Understand Difficulty: Moderate True or False: The environment is not considered a stakeholder, True or False: Goodwill . insufficient. Too Short! Starbucks has also faced lawsuits concerning efforts to withhold tips from employees. Find the absolute maximum and minimum, if either exists, for each function on the indicated intervals. Participate in and support community . (Select all that apply.) d. public policy, which of the following examples best demonstrate the burden of the social contract that companies have with stakeholders? The traditional approach to business ethics that has been championed by many corporate leaders echoes the sentiments of the late Nobel Laureate economist Milton Friedman, who famously stated that corporations ultimately have no ethic responsibilities other than to increase the value of the corporation for shareholders.
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