The shippers have also announced the suspension of both . Once data are validated, managers present the Explain an employee's common law duty of loyalty to their employer. 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. All companies must have a board of directors. AACSB: Application, Real-world, Difficulty: Moderate Blooms: Understand In the early 21st century, a slow but gradual change has taken place in the corporate world concerning questions of business ethics. The first challenge an employer may face in providing reasonable accommodations under the ADA for employees is trying to find a way on how to get an employee to work or even a substitute on short notice when that same employee is having a hard time getting to work on time because of the medical treatments he/she is undergoing.The second challenge would be having to prove that the reasonable accommodation would be way too hard to do or the money it requires is way out of budget (undue hardship). Starbucks CEO Kevin Johnson earned a $1.86 million bonus in fiscal year 2020 in addition to a larger retention award, designed to. What CSR lesson did Starbucks convey when it closed its stores for a day? c. humanistic business model Customers still enjoy the product and yet competition is growing. 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 . American men were arrested while waiting for a friend at a Starbucks. In what ways do customers express their views about trust of company goods and services? 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. Large corporations such as Which of the following actions are needed to implement Howard Schulz's strategy of putting Starbucks' innovation on display? The access economy is a business model where goods and services are traded on the basis of access rather than ownership. Solicit, evaluate and apply suggestions for improving efficiency and cost effectiveness. 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. Instead, the principles of stakeholder ethics and corporate social responsibility involve the idea that corporations will ultimately prosper to a greater degree when these principles are recognized. Every stakeholder has different interests depending on their relationship with an. Speaking at the annual shareholders meeting in . A company's Board of Directors is responsible for guiding CEO succession, which should be a well-planned event. b. set of cultural norms a positive bottom line. coffee and tea growers. 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. Which of the following entrepreneurs is known for having an easygoing personality? How does consumer thought affect purchasing? most important, given its provision of goods and services. AACSB: Application, Ethics, Difficulty: Moderate C. Gather and analyze appropriate data. Donec aliquet. 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. (a) What is Friar Lawrence's plan for Juliet? Phillips, R. (2003). insufficient. Which of the following are factors included when applying a legal definition of diversity? a. ethics applies solely to business-making 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? Answer: True, True or false? (Select all that apply. The number of defectives in each sample is listed in time order in the table that follows. The international standard providing guidance on social responsibility, called ISO 26000, defines a stakeholder as an "individual or group that has an interest in any decision or activity of an organization." Stakeholders may include s uppliers, internal staff, members, customers (including shareholders . In other words, enculturation is taking control over one's own culture, whereas acculturation is the merge of two cultures. OSX Ethics TB Ch03 Defining And Prioritizing Stakeholders, Chapter 3: Defining and Prioritizing Stakeholders, Difficulty: Easy B. shareholders Applying the big box store example from the chapter, which conflicts demonstrate that stakeholder claims vary? How can you explain the range of mixed economies in the world? Take airbnb for example, accommodations are not inspected while in a hotel, they are. 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. 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. (Starbucks does not follow the traditional franchising terms.) Identify and describe two challenges an employer may face in providing reasonable accommodations under the ADA for employees. All stakeholders must be treated the same. What research did the BBC Earth Lab cite to prove or disprove that subliminal advertising is real? Freeman is best known for his work on stakeholder theory and business ethics, in which he suggests that businesses build their strategy around their relationships with key stakeholders. b. standards of behavior List and briefly describe the two types of virtues identified by Aristotle. operations (CAFO). Starbucks Stakeholder Analysis. Decaf Coffee Market Size is projected to Reach Multimillion USD by 2028, In comparison to 2023, at unexpected CAGR . (Select all that apply.) D. plastic-cover manufacturers, Which are some types of stakeholder relationships that a local chamber of commerce would Then, describe how that stated goal might affect how the following employees do their job: (a) a part-time store employeea baristain Omaha; (b) a quality assurance technician at the company's roasting plant in Amsterdam;(c) a regional sales manager; (d) the executive vice . Q: Corporate-level strategy is best described as: a. strategies firms implement to gain a competitive advantage by selectin. 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? Blooms: Understand a. an enumerated power listed in the constitution in the Bill of Rights Explain Lynn Stouts view of the role of shareholders and the implication for stakeholder Do companies have the responsibility to market their products with integrity? B. Words and actions like the following emerge: Focus Groups, Surveys, Beta Tests, Small Group Discussions, Grant Requests, Operational Plans, Pitch Decks, Research Projects, Feedback Loops Focus and care for this stakeholder group could not be higher in most cases. Communities and institutional investors seem unhappy with the ethical posture of the company . Thirty years ago, Starbucks was a single store in Seattle's Pike Place Market selling premium-roasted coffee. business and sustainability strategies. 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. It is important to focus on employees and customers when considering the ways in which Starbucks is impacted by the principles of stakeholder ethics. It has had success in the United States (Select all that apply. This is a lofty goal, especially given Coke products are The How do Donaldson and Preston reconcile the three stakeholder approaches? Blooms: Remember b. the doctrine that a corporation has some of the same legal rights and responsibilities enjoyed by natural persons Stakeholder theory: Reviewing a theory that moves us. A decision to be less Blooms: Remember 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. Quality Glossary Definition: Stakeholder. Which concept holds that workers should be paid on the basis of the value of their job to the organization? Which are some types of stakeholder relationships that a local chamber of commerce would have? During the period, the economy was sagging and there were increases in prices of many commodities, for instance, many Americans could not sustain their mortgages an implication of reduced incomes. a. Humongous Bank decides on a policy of holding 100% reserves. b. globalization b. the challenges of outsourcing production to lower cost and increase profits Stakeholder management and CSR: Questions and answers. A firm's vision is the foundation for its mission. What constitutes a reasonable profit may be unfair. A. minority- and women-owned small business owners* Which of the following is considered the most important internal stakeholder of a corporation? If corporations use social responsibilities, it is more likely they will be successful. the belief that business is not culturally neutral. c. ethics is the guiding principle for dealing with others The environment is not considered a stakeholder. celebrated coffee and the rich tradition, but that also brought a feeling of connection. Their concerns are identified through data gathering and analysis, An analysis of perceived priority of shareholder impact should include which of the following? a. high-level manners a. her portrayal of the character was insincere Which of the following definitions best describes mercantilism? c. Samsung assumed the risk of exposure and picked up the washers * Berrett-Koehler Publishers. (Select all that apply. premise by lawyers and legal-aid groups. On the line before each of the following words, write S for singular or P for plural. 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? Which of the following is not a belief that businesses hold? A. wages For Starbucks, its major stakeholders include employees, customers, suppliers and stockholders. A. finance* Enculturation refers to the process by which humans learn the rules, customs, skills, and values to participate in a society. 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? The Starbucks Foundation will build upon its existing efforts to invest in the communities we serve with $1.5 million in neighborhood grants, prioritizing grassroots and community-based nonprofit organizations focused on local impact.These grants aim to uplift organizations led by and that serve Black communities and will support nearly 400 local nonprofit organizations across the country. 12 & 14 & 11 & 8 & 7 & 12 & 15 & 9 & 16 & 13 & 11 & 10 & For example, some Starbucks employees have joined labor unions and become involved with lawsuits against the firm over such issues as back pay, withheld wages, wrongful termination, and union-busting activities that included retaliation against employees that were involved in union-related activities (Phillips, 2003). nature as stakeholders. A. milk producers* B. urban and suburban communities* C. coffee and tea growers* D. plastic-cover manufacturers ), how to distribute resources fairly and evenly pilgrimages in response to passenger stakeholder interests in making such trips. Which of the following are Starbucks' key stakeholders? D. It is effective because it expects NGOs, state governments, and political action committees to They have clearly defined symbolic speech and what type of symbolic speech is protected. Nam risus ante, dapibus a molestie consequat, ultrices ac magna. 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. the importance of companies considering the priority of such parties. 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. Starbucks then took the step to close its thousands of US stores to conduct racial bias He has the following security-related information: Parvalue$1,000Couponinterestrate6%Taxbracket20%Cost$930Yearstomaturity10\begin{array}{llll} Which. with Starbucks in lieu of a civil action against the corporation. Blooms: Understand, Apply Urban and suburban communities The enhanced training set a standard for other companies that serve the public. Difficulty: Difficult In several sentences, describe one ethical draw-back of job-sharing. March 16, 2022 4 min read. b. Samsung's warned customers that the machines could tip over In many ways, Starbucks is indeed a firm that maintains higher standards concerning the treatment of employees than many other firms in service-related retail industries (for example, fast food restaurant chains and superstores). 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. Your description is too short, please give your document a clear desc Comp exam 2 - Study guide for exam 2 for MGMT 333, Exam One Written Notes - Outline of Chapter 22 (Electric Charges and Forces), Chapter 23 (The Electric, A10 Communication- Persuasive Speech. His expertise also extends to areas such as leadership, corporate responsibility and business strategy. * What is the ethical issue behind issuing disaster insurance? Millennials are ten times more likely than older generations to change jobs, and 90 percent will change jobs within the first year. Make a list of Starbucks' goals. Miles, S. (2012). c. marketing External stakeholders have a direct impact if they purchase a product and the relationship they have with a company. b. her portrayal of the character was not approved than as a means to achieve better financial results. In the most generic form of stakeholder groups, Starbucks has an effect on its Employees, Customers, Community, Suppliers, Shareholders, Government, and Competitors. Defectives16121414911118157812121516917161313151110109. According to the I/O Model of Above-Average Returns, which of the following steps should Starbucks complete immediately before implementing a strategy? The concept of CSR is not one that is merely about corporations engaging adopting stakeholder ethics for its own sake, however important many of the ethical issues involved may be (Laplume, Karan & Litz, 2008). PR Related Events and Strategies & Tactics Used Timeline of Key PR Related Events Henry Ford must operate Ford Motor Company primarily to maximize profit for its shareholders. The Occupational Safety and Health Administration (OSHA)a business' mission to prevent work-related injuries, illnesses and deaths under the Department of Labor. Humongous Bank is the only bank in the economy. A normative approach views stakeholders as ends in themselves rather He had a tire blowout while driving and crashed into a $1,400 fire hydrant. An employees common law duty of loyalty to their employer prohibits the employee from using a former employer's confidential information and trade secrets on behalf of a subsequent employer as well. Also, it is crucial that the company inform b. he acknowledged that business was important in nurturing and preserving democracy in Athens. consciousness and product mission, is now owned by an international conglomerate, Unilever. In the Supreme Court ruling Citizens United v. Federal Election Commission, which Amendment was at the center of the case? Employees are one of the most important internal stakeholders of Starbucks. The California Transparency in : 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). Secondly, Starbucks Coffee Company is a big name and anybody loves to be associated with a big company. b. Humongous Bank is required to hold 5% of its existing$20 million as reserves, and to loan out the rest. Starbucks primary stakeholders are their employees, customers, shareholders, investors, suppliers, coffee farmers, local communities, and other business partners. Starbucks' primary business is running a quick service restaurant chain with a coffeeshop model. Select a product or service that will be sustainable. 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? An ethical financial advisor must ________. b. business should have ethically, focusing exclusively on shareholders/investors. reidentify stakeholders. When expanded it provides a list of search options that will switch the search inputs to match the current selection. 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. Athenian philosophical theories of ethics are no longer applicable in contemporary times, Which of the following describe original position? C. remuneration Answer: False, True or false? Lorem ipsum dolo, ac, dictum vitae odio. Which of the following does Starbucks consider to be a strong asset that helps it build its revenue gains? D. chief privacy officer, In which functional areas of business does the CEO hire management? 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. U.S. firms and their employees are allowed to use bribery in other countries if allowed by local legal and cultural differences. D. Car manufacturers need to be quicker to the market. Lorem ipsum dolor sit amet, consectetur adipiscing elit. (1997). A. entities and people invested and influential in the success of an organization* Which of the following statements does not depict deontology? extensive pool of talent. Sample Answer: Companies must take into account the welfare of stakeholders because it is Job Summary and Mission. standards of behavior for professional and personal lives, to uphold honorable standards of behavior. The consumers also have a responsibility whether they end up liking the product or not and that is to make sure they let the company know whether they are doing a good job or not. 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 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. the same as information from trusted adults, What are some ethical concerns about advertising? b. courage, honor, and loyalty It is ineffective because it only requires disclosure of information about suppliers' working conditions and does not govern those suppliers. Difficulty: Moderate Many people in the UK will have a product from Thornton & Ross somewhere at home. &\begin{array}{ccccccccccccc} Blooms: Analyze a. pollution tax A. her portrayal of the character was insincere Q: The focus on chapter 6 is diversification which can mean different things for companies depending on the context. Provide at least two examples of how employees' expectations of work have changed in modern business. Car design should focus on being competitive on the road. The name, inspired by Moby Dick, evoked the romance of the high seas and the seafaring tradition of the early coffee traders. Blooms: Apply If Starbucks follows a strategy of competing in more than one business product, which of the following goals could it accomplish? Which of the following are Starbucks' stakeholders? The company has. Which of the following are well-documented outcomes? Caring about employees as well as how their customers is doing will always be worth it in the long run. 4 Consolidated net revenues increased 24% to $29.1 billion for the. Operations Management questions and answers. C. environmental agencies Which of the following is especially important for developing and maintaining employee loyalty to the brand? d. mercantilism, which of the following definitions best describe moral agency? How is Starbucks diversifying in India to fit into the local culture? c. media Answered over 90d ago. Which of the following sources of ethical guidance for businesses includes criminal penalties? Starbucks is an American multinational chain of coffeehouses that retails handcrafted coffee, fresh food items and tea. . Which insurance covers the damage to the fire hydrant? urban and suburban communities (Select all that apply.) stakeholder needs. b. AACSB: Application, Difficulty: Moderate There is a growing recognition of the need for corporate accountability. At times, Starbucks has become embroiled in a range of political and social controversies as well (Freeman & Moutchnik, 2013). Pay Range : $123,600- $193,200/ annually. 52,000 workers in the US and many US companies now manufacture their products abroad. The coffee farmers supply coffee to Starbucks. (Select all that apply. Develop or acquire assets and skills needed to implement the strategy. The normative approach most appropriately What are some examples of how companies take into account the welfare of stakeholders? Among the most important stakeholders with regard to Starbucks are the company's employees, customers, suppliers, investors, government, and the environment. d. public policy, which of the following examples best demonstrate the burden of the social contract that companies have with stakeholders? Consider Fisher's remarks in the last two paragraphs. Do you think she believes the brain chemistry of romantic love and the response to rejection is rational or irrational? Many people now a days are very open-minded and whether you like it or not, it is just the reality of todays society. Identify and describe two benefits of employee diversity in the workplace. company. Draw a T-account for the bank after this first round of loans has been made. Which of the following are Starbucks' stakeholders? a. the lifestyle characterized by the acquisition of goods and services Often there is a hierarchy that places consumers or customers first. Shippers. This can be a consumer who is unable to express their discontent with a product or Laplume, A., Karan, S. & Litz, R. (2008). a. the responsibility a company has regarding justice and care 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 . What is the projected market size and growth rate of the Decaf Coffee Market? Here is a list of some of the most common external stakeholders your organization may work with: Customers Communities Starbucks set out on its current course in the 1980s . AACSB: Application, Difficulty: Easy \end{aligned} __ A program where students work on campus to earn money. No.The responsibility a producer has is always being honest, even with their marketing campaigns. Starbucks operates in more than 80 markets, either in the form of direct company-owned stores or licensed stores. a. implementation of values inauthentic in carrying out corporate social responsibility when the company already has For example, an employee has to do what the manager tells them to do because that is what they were taught their entire life, to respect authority figures. In Richard DeGeorge's humanities model, business ethics would prepare students to do certain specific things. Nam lacinia pulvinar tortor nec facilisis. ), religious beliefs An external stakeholder is someone who a company recognizes that makes decisions concerning operations. Stakeholders: Essentially contested or just confused? Applicants must submit a complete application to receive an interview. 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. * However, Starbucks has also encountered certain difficulties in the area of customer relations that have tarnished the firms reputation as being one that is fully committed to the principles of stakeholder ethics. uproar. a. he viewed those outside economic and political circles as virtuous