(Select all that apply.). Stakeholder ethics involves a body of thought which insists that the ethical responsibilities of corporations extend not only to the shareholders but also to the full range of interests that are impacted by corporate activity. a. milk producers Explain an employee's common law duty of loyalty to their employer. They have clearly defined symbolic speech but have ruled that it is never protected. Which of the following definitions best describes mercantilism? Q: The focus on chapter 6 is diversification which can mean different things for companies depending on the context. Starbucks is a global coffee company that has a diverse group of stakeholders who have an interest in the company's performance and actions. Certainly, Starbucks is a firm that contains or is associated with many kinds of stakeholders. Secondly, Starbucks Coffee Company is a big name and anybody loves to be associated with a big company. Speaking at the annual shareholders meeting in . Business Ethics Mid Term Flashcards | Quizlet Donec aliquet. Answer: True, True or false? Most business organizations hold three different kinds of beliefs about themselves. Managing and executing the strategy of a company a. courage, decorum, and accountability From just a narrow storefront, Starbucks offered some of the world's finest fresh-roasted whole bean coffees. 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. Describe what type of goal each is. such as Yelp where customers share their good and bad experiences. March 16, 2022 4 min read. c. Assume that Humongous bank is part of a multibank system. In 1968, Securities and Exchange Commission v. Texas Gulf Sulphur Co. implicated the employees of a Texas mining company and was the first famous case example of ________. 4 Consolidated net revenues increased 24% to $29.1 billion for the. 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 . Ben & Jerrys, an ice cream company known for its founders social which are the universal principles of behavior? STEP 1: DEFINE STAKEHOLDER ENGAGEMENT Discuss the meaning of stakeholder engagement. Some ads exaggerate or distort what goods or services deliver. D. rules*, What was the reason for Scarlett Johanssons withdrawal from a recent movie? B. occurs during the monthly vulnerability scanning. The coffee farmers supply coffee to Starbucks. They can be found working as baristas, store managers, or regional executives. B. government liaison/lobbying director Stakeholder Relationships: It appears there are growing disconnects among at least some of their stakeholders. If the heirs of the business owner want to continue the business in their own names, they will be considered a new business, even if they are using the assets of the old business. The environment is not considered a stakeholder. In 1981, Howard Schultz (Starbucks chairman and chief executive officer) had first walked into a Starbucks . Coffee producers are a major stakeholder for Starbucks because the firm has staked its reputation on high quality coffee. Financial Analysis of PUMA and Nike, Inc. Starbucks Stakeholders: Employees and Customers. Job Summary and Mission. Their concerns are identified through data gathering and analysis, Thirty years ago, Starbucks was a single store in Seattle's Pike Place Market selling premium-roasted coffee. a. the responsibility a company has regarding justice and care The normative approach most appropriately AACSB: Reflection, Difficulty: Difficult Participate in and support community . Business ethics exists on which of the following three levels? stresses that a company must sustain trust with stakeholders. a. pollution tax a. implementation of values a positive bottom line. AACSB: Application, Difficulty: Moderate What are Stakeholders? Stakeholder Definition | ASQ Technical Product Manager - API Gateway - Starbucks Coffee Blooms: Remember CSR includes the duties a corporation many owe a duty to to benefit to many stakeholders, customers, the community, the environment, employees, media, and the government. b. Sarbanes-Oxley b. her portrayal of the character was not approved Make a list of Starbucks' goals. Nam lacinia pulvinar tortor nec facilisis. Explain how owners benefit from doing business as a corporate entity. Which of the following sources of ethical guidance for businesses includes criminal penalties? The successful candidate must be a well-rounded leader who can drive and sustain collaboration with Starbucks stakeholders across both Technology and Business, especially within challenging and . 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? c. Citizens United Read the following scenario and use the following five key questions in stakeholder management to determine how Starbuck's should handle this stakeholder: A few years ago, Starbucks identified three areas in which government could impact the company's ability to maximize profits in its Corporate Social Responsibility Report: (1) U.S. Tax . Lorem ipsum dolo, ac, dictum vitae odio. (Select all that apply. To achieve a greater degree of diversity in the workplace, managers' goals should encompass which of the following? What has unfolded at Starbucks is anything but. b. the Dutch and Native American trade Which. Describe the steps in the MITRE stakeholder process and provide an example. AACSB: Application, Difficulty: Easy Business 148 Study Guide Flashcards | Quizlet 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. Starbucks's Organizational Structure & Its Characteristics pilgrimages in response to passenger stakeholder interests in making such trips. Which is the best example of a recent company crisis caused by poor leadership? Consumers support big box stores that offer quality goods and reasonable prices, Which of the following are Starbucks' stakeholders? Starbucks Competitors: Top 3 Starbucks Rivals - Investopedia 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. companies that intentionally keep hours at less than 29 to avoid more costly regulations like the ACA For the long term, business operations need to inculcate stakeholder What is a "pay-to-pollute" system that charges a fee or tax to those who discharge carbon into the air? including surveys or social media, for example. Also, Starbucks faced the challenge of technology. Message from Howard Schultz: On the Future of Starbucks OSX_EthicsTB_Ch03_DefiningAndPrioritizingStakeholders.docx Today, Starbucks hosted its 30 th annual meeting of shareholders virtually. Blooms: Apply d. They have ruled that symbolic speech is always protected. Starbucks Stakeholder Analysis - 1096 Words | Cram D. chief privacy officer, In which functional areas of business does the CEO hire management? Fusce dui lectus, congue vel laoreet ac, dictum vitae odio. Blooms: Remember All companies must have a board of directors. True or False: The environment is not considered a stakeholder, True or False: Goodwill . Enculturation and acculturation seem very alike but when paying close attention, the differences start to pop out. 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. Stakeholder perceptions have a large impact on success. AACSB: Ethics, Difficulty: Easy \end{aligned} Sample Answer: Greenwashing is the view that companies are acting superficially or are Emily Miner, CCEP on LinkedIn: What Should Leaders Do To Prepare For b. the doctrine that a corporation has some of the same legal rights and responsibilities enjoyed by natural persons Nam lacinia pulvinar tortor nec facilisis. Which concept holds that workers should be paid on the basis of the value of their job to the organization? For that law, companies are. Which of the following is an example of an external stakeholder of an organization? Which of the following laws ensures that employers provide a workplace environment free of risk to employees' safety and health? It has had success in the United States Difficulty: Difficult Starbucks prioritizes employees in its corporate social responsibility efforts. Which of the following are Starbucks' stakeholders? Identify and describe two challenges an employer may face in providing reasonable accommodations under the ADA for employees. being committed to ethical business practices. From the beginning, Starbucks set out to be a different kind of company. A diverse workforce yields many positive outcomes for a company. Consumer feedback on social media sites does not affect a company's prospects or status as ethical. True or false? Which of the following is especially important for developing and maintaining employee loyalty to the brand? Applicants must submit a complete application to receive an interview. B. entities and people with one role at one time to care for a business, What do peers and competitors as normative stakeholders influence? gender Stakeholders of Starbucks (Starbucks stakeholder analysis) It also changed its policy of allowing noncustomers to visit its stores and use restrooms. AACSB: Real-world, C. greenwashing There are also organizations. For ex. Defence Equipment & Support (DE&S) hiring Senior Cost Estimator in What is a measure that accounts for an organization's results in terms of its effects on profits, planet, and people? What Are Internal And External Stakeholders In Starbucks? In the most generic form of stakeholder groups, Starbucks has an effect on its Employees, Customers, Community, Suppliers, Shareholders, Government, and Competitors. ventana canyon golf membership fees; what ships are in port at norfolk naval base? e. They have not directly addressed the matter of symbolic speech. Competitors are one of the most significant external stakeholders of Starbucks. Pellentesque dapibus efficitur laoreet. ), Local governments are seeking to institute tax advantages to attract business competition. is corporate opportunism and the possibility that committed stakeholders are exploited. Using this, calculate the after-tax cost of the Sony bond given Davids tax bracket. A. her portrayal of the character was insincere Thus, Ikea changed in response to consumer (Select all that apply.) The company has. &\text { Defectives }\\ A. minority- and women-owned small business owners* What are some examples of how companies take into account the welfare of stakeholders? Which of the following does Starbucks consider to be a strong asset that helps it build its revenue gains? most important, given its provision of goods and services. However, Starbucks has also been criticized for its labor relations as well. release manager - Starbucks Utilitarianism (the first normative approach to)- an ethical action is one whose consequence achieves the greatest good for the greatest number of people. Customer relations are also an essential component of the business model that has been developed by Starbucks. the importance of companies considering the priority of such parties. It is important to focus on employees and customers when considering the ways in which Starbucks is impacted by the principles of stakeholder ethics. McDonald's hiring Data Enablement Consultant in London, England, United B. amenities* d. he thought money should only be allowed for those in trades. c. Compute and plot the A, B, and C zone boundaries on the p-chart. Select the best answer. This includes Mexico, which has a Coca-Cola plant Blooms: Apply local, state, national, and international laws and regulations. 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. influence suppliers working conditions. Pellentesque dapibus efficitur laoreet. Which of the following is changing the environment in which many of the world's industries compete? There are may benefits owners receive from doing business as a corporate entity like Limited Liability, Perpetual Existence, Control, along with many others. (Select all that apply. B. shareholders Which Stakeholder Is Most Important Is Always Shown By - Bloomerang If you feel harassed, prejudiced against, or disadvantaged in your workplace, you may file a complaint with the ________. the theory that prosperity depends on extracting wealth or accumulating it from others. Consider Fisher's remarks in the last two paragraphs. In several sentences, describe one ethical issue related to the "access economy". If those entrepreneurs have good morals, it will come natural and it will show. In the case of Dodge v. Ford Motor Company, the Michigan Supreme Court ruled in favor of shareholder primacy. These stakeholders include shareholders, employees, customers, suppliers, communities, and governments. Another example is a future stakeholder, whose status will arise during later Who Are Stakeholders In A Business? | Indeed.com B. Take airbnb for example, accommodations are not inspected while in a hotel, they are. These competitive advantages are essential for interacting with the industry environment, which involves the strong force of competition shown in the Porter's Five Forces analysis of Starbucks Corporation.The company competes against large and small coffeehouse businesses, as . 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. Explain how Ikea has had to adapt its business model in different countries. (Select all that apply.) Answer: False, True or false? Starbucks Primary Stakeholders Analysis Essay Example - PaperAp.com 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. Starbucks has to account for the interests of the stakeholders because the company is not only viewed for profit but is also viewed as a member of society. Certainly, programs of these kinds that have been maintained by Starbucks have been beneficial to some employees and are consistent with the principles of stakeholder ethics. Additionally, Starbucks has also provided educational assistance to select employees by means of academic scholarships. Blooms: Analyze They Decaf Coffee Market Size is projected to Reach Multimillion USD by 2028, In comparison to 2023, at unexpected CAGR . a. the "purchase" of Manhattan 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? Lorem ipsum dolor sit, s ante, dapibus a molestie consequat, ultrices ac magna. There is a growing recognition of the need for corporate accountability. In some The shippers have also announced the suspension of both . Difficulty: Moderate Multiple highly publicized incidents involving conflicts between Starbucks and its customers have been detrimental to the companys reputation in the area of corporate social responsibility. &\begin{array}{ccccccccccccc} Fu, itur laoreet. Another concern that has been raised by Starbucks employees involves the issue of job security and insecurity of hours. Employees are dissatisfied with the trust they receive from management and are seeking "representation" through unions. C. environmental agencies Henry Ford must operate Ford Motor Company primarily to maximize profit for its shareholders. d. Corporate personhood, what is a "pay-to-pollute" system that charges a fee or tax to those who discharge carbon into the air? 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. Starbucks Case (1).pdf - Applying Carney to Starbucks 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. AACSB: Application, Ethics, Difficulty: Moderate 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 Enculturation refers to the process by which humans learn the rules, customs, skills, and values to participate in a society. C. Defining a companys ongoing mission* The company has many stakeholders the following are considered the main stakeholders, employees, customers, suppliers and investors. Sample Answer: Customers are articulate about their views of a company. b. corporations need to maintain initial priority of stakeholders External stakeholders have a direct impact if they purchase a product and the relationship they have with a company. Starbucks that would result in change to the issue of racism in America. Difficulty: Difficult What are some amenities companies offer employees that go beyond a legal minimum or Why does a Kantian view typically not govern most management decisions? Starbucks's Mission Statement & Vision Statement (An Analysis) In the United States, Ikea displays According to Donaldson and Preston, what are the three theoretical approaches to considering stakeholder claims? Which of the following are factors included when applying a legal definition of diversity? Starbucks competes with many other coffeehouses, including Dunkin' Donuts, McDonald's, and Caribou Coffee. b. Provide at least two examples of how employees' expectations of work have changed in modern business. Since the advent of 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. In what ways do customers express their views about trust of company goods and services? which are the universal principles of behavior? a. the barista at Starbucks b. the Starbucks district manager c. the President and CEO of Starbucks d. customers who go to Starbucks for a latte Which commercial transaction in the New World exemplifies the complexity that results when different cultures, experiences, and ethical codes come into contact? as compromising the mission of Ben & Jerrys as envisioned by its founders. : 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). Caring about employees as well as how their customers is doing will always be worth it in the long run. Donec aliquet. (Select all that apply. Blooms: Understand Cell differentiation and specialisation - GCSE, Fundamentals of Financial Management, Concise Edition, Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield, Marketing Essentials: The Deca Connection, Carl A. Woloszyk, Grady Kimbrell, Lois Schneider Farese. How can entrepreneurs best ensure their customer-service vision is passed on to employees? Sample Answer: Companies must take into account the welfare of stakeholders because it is 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. AACSB: Application. f(x)=x48x2+16, (A)[1,3](B)[0,2](C)[3,4](A)\ [-1,3]\qquad (B)\ [0,2]\qquad (C)\ [-3,4] even perhaps industry standards? A trade secret is a form of intellectual property protection and is easier to the same as information from trusted adults, What are some ethical concerns about advertising? Which are some types of stakeholder relationships that a local chamber of commerce would have? Stakeholder theory: Reviewing a theory that moves us. Ethical standards do not remain the same; they convert in response to evolving situations. c. Samsung assumed the risk of exposure and picked up the washers Which intellectual, emotional, and social human trait affects all decision-making, including ethical decisions? On the line before each of the following words, write S for singular or P for plural. Once data are validated, managers present the stakeholders that their concern was taken into consideration and will continue to be valued. Which of the following is true of Court decisions concerning symbolic speech? The main difference between a bribe and a gift is intent. governance. One big issue access economy has is lack of regulations, especially when it comes to overseeing the products and services exchanged during the transaction. c. is an unattainable goal of perfect virtue be detrimental to a company. Rachel Carsons 1962 book, True or false? Blooms: Analyze, Evaluate mysterious plane crashes, the Malaysian government (a stakeholder) and private investors hired a \text { Par value } & \$ 1,000 & \text { Coupon interest rate 6\% } & \text { Tax bracket 20\% } \\ In a short paragraph, explain how entrepreneurs can still remain ethical while focusing on profit. Starbucks Corporation application developer sr Job in Seattle, WA All Rights Reserved. Starbucks baristas are paid above the minimum wage, even at the entry-level position. Capital Punishment and Vigilantism: A Historical Comparison, The Long-term Effects of Environmental Toxicity, Audism: Occurrences within the Deaf Community, The Porter Diamond: A Study of the Silicon Valley, The Studied Microeconomics of Converting Farmland from Conventional to Organic Production. and China, for example, by adapting to local cultural norms. 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). premise by lawyers and legal-aid groups. To construct a p-chart for a manufacturing process, 25 samples of size 200 were drawn from the process. 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? Quality Glossary Definition: Stakeholder. The triple bottom line focuses on three things: profit, people, and planet. Lorem ipsum dolor sit amet, consectetur adipiscing elit. c. ethics is the guiding principle for dealing with others c. environmental tax The Starbucks franchises in New Zealand have also been accused of underpaying their younger workers. c. humanistic business model CSR and greenwashing are the same concepts. b. Humongous Bank is required to hold 5% of its existing$20 million as reserves, and to loan out the rest. For Starbucks, its major stakeholders include employees, customers, suppliers and stockholders. Also, a bribery is very unethical and can look bad for the business. A company must identify and This includes race, color, religion, national origin or ancestry, sex and so on. Develop or acquire assets and skills needed to implement the strategy. It is also competing with companies like Peet's Coffee & Tea Company, which have more exclusive products. c. the theory that global wealth is static and prosperity comes from wealth through extraction (Select all that apply.) nature as stakeholders. Consequently, the argument is made that corporations should aspire to be good corporate citizens that demonstrate care for the full range of stakeholders that are impacted by their activities. . Answer: False. b. means supporting dogmatic rationality A. Starbucks: More Value For Shareholders Through - SeekingAlpha Course Hero is not sponsored or endorsed by any college or university. essence of Stouts view is concern that shareholders may want to maximize their investment at The duty to obey a categorical imperative is irrespective of consequences. Those men later settled normative, descriptive, and instrumental approaches. Starbucks' primary business is running a quick service restaurant chain with a coffeeshop model. Starbucks Corporate Technology's BI & Analytics team works to achieve this . Starbucks CEO Kevin Johnson earned a $1.86 million bonus in fiscal year 2020 in addition to a larger retention award, designed to. The price of plastic straws had been increasing and Starbucks saw the proposal as an opportunity to both please stakeholders and cut costs d. Many cities were already considering plastic straw bans and agreeing to the proposal allowed Starbucks to act before regulatory action was taken Lorem ipsum dolor sit amet, consectetur adipiscing elit. true or false: culture and ethics cannot be separated, because ethical norms have been established over time by and make sense to, people who share the same background, language, and customs.