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), religious beliefs Berrett-Koehler Publishers. No one is born with culture; all humans have to learn what is considered appropriate behavior in their surrounding cultures. He had a tire blowout while driving and crashed into a $1,400 fire hydrant. The emphasis was on 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. Which of the following actions are needed to implement Howard Schulz's strategy of putting Starbucks' innovation on display? A. milk producers* It is important for executives to interact with outside-environment stakeholders Which of the following does an entrepreneur typically need to be willing to do to start a business? Fu, itur laoreet. discrepancy is stark. B. Supervising middle and senior management Each employee prides in working in an organization that acknowledges his efforts. A. industry norms* Every stakeholder has different interests depending on their relationship with an. Fusce dui lectus, congue vel laoreet ac, dictum vitae odio. How much will money supply increase with that original loan of $19 million? In the case of Dodge v. Ford Motor Company, the Michigan Supreme Court ruled in favor of shareholder primacy. 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 Its normal and keeps things interesting in my opinion. a. the responsibility a company has regarding justice and care Academy of Management Review, 22(4), 853886. A trade secret is a form of intellectual property protection and is easier to protect than a trademark or patent. For the long term, business operations need to inculcate stakeholder Building a trust with your customers through marketing is very important and I say this because first impressions determine whether or not a person will decide to buy your product. Cross), Give Me Liberty! Make a list of Starbucks' goals. Which of the following is not an example of a diffused shareholder? Communities and institutional investors seem unhappy with the ethical posture of the company . This is viewed the cost of stakeholders. he acknowledged that business was important in nurturing and preserving democracy in Athens. Why does a Kantian view typically not govern most management decisions? Thirty years ago, Starbucks was a single store in Seattle's Pike Place Market selling premium-roasted coffee. AACSB: Application, Analytical, Difficulty: Moderate Which of the following is not a belief that businesses hold? Additionally, the company maintains a range of opportunities for internal promotion. welfare. Which of the following is the lesson learned from the Edsel story? Select a product or service that will be sustainable. Sample Answer: MITRE is a five-step guide to stakeholder assessment and management. Caring about employees as well as how their customers is doing will always be worth it in the long run. 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? 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). which of the following is the best description for what it means to be a professional of integrity? c. environmental tax marketplace, Starbucks has an opportunity to lead by example. ), Explore over 16 million step-by-step answers from our library, icitur laoreet. Fusce dui lectus, congue vel laoreet ac, dictum vitae odio. \end{array} Felix Madison has $10,000 worth of property damage insurance and a$1,000 deductible collision insurance policy. 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. which are the universal principles of behavior? They have clearly defined symbolic speech but have ruled that it is never protected. The firm issued $3 billion in bonds, taking advantage of the. Explain an employee's common law duty of loyalty to their employer. 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). c. coffee and tea growers 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 . a. humanity in ethics a. the "purchase" of Manhattan It A stakeholder is any party, individual, or group interested in an organization's actions and outcomes. The main reason for forming a corporation is to limit the liability of the owners. \end{array} Blooms: Apply a. C. legislatures Which of the following is considered the most important internal stakeholder of a corporation? What CSR lesson did Starbucks convey when it closed its stores for a day? CAFOs are condemned by animal rights activists as being harmful to the Many people in the UK will have a product from Thornton & Ross somewhere at home. Blooms: Understand c. Assume that Humongous bank is part of a multibank system. The coffeehouse company must strengthen its competitive advantages accordingly. Enculturation refers to the process by which humans learn the rules, customs, skills, and values to participate in a society. In Richard DeGeorge's humanities model, business ethics would prepare students to do certain specific things. Which of the following are Starbucks' stakeholders? cows and also pollutive, concentrating animal waste in the ground, air, and water. 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. Sample Answer: Companies must take into account the welfare of stakeholders because it is represents ethical stakeholder theory. Donec aliquet. Which legislation was passed in 2002 that mandates reporting transparency by businesses in areas ranging from finance to accounting to supply chain activities? systemic ethics problems. When expanded it provides a list of search options that will switch the search inputs to match the current selection. Which are some types of stakeholder relationships that a local chamber of commerce would have? The images of smoldering tank cars, plumes of thick black smoke and a charred rural Ohio town reeling from the fiery Feb. 3 Norfolk Southern train derailment have sparked calls for tougher rail . Pellentesque dapibus efficitur laoreet. (Starbucks does not follow the traditional franchising terms.) Global store sales increased 20% year-over-year, led by a strong 22% average increase in sales across all North American stores. How has Starbucks used technology to improve its products? b. ethics is about what someone does Difficulty: Difficult They need to develop sustainable sources of quality beans. D. Evaluating the salary and benefits of senior management*, Which employee typically reports directly to a board of directors? B. urban and suburban communities* Which of the following entrepreneurs is known for having an easygoing personality? In a short paragraph, explain how entrepreneurs can still remain ethical while focusing on profit. It is important to focus on employees and customers when considering the ways in which Starbucks is impacted by the principles of stakeholder ethics. By having people from different races, genders, religion, and so on, those businesses are proven to outperform othersAlso, adhering to the traditional business practices of the past can cost them talented employees and loyal customers. 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. 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. consumed by 20% of the worlds population. Difficulty: Moderate * which of the following most likely contributes to a corporation's positive work atmosphere over the long term? A. minority- and women-owned small business owners* Develop or acquire assets and skills needed to implement the strategy. Operations Management questions and answers. 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. AACSB: Real-world, C. greenwashing (Select all that apply.) 35.Deconfliction is necessary when the penetration test: A. determines that proprietary information is being stored in cleartext. Observing the company's liquidity, Starbucks has around $2.6 billion in cash and short-term borrowing facilities of $3.5 billion. ), Local governments are seeking to institute tax advantages to attract business competition. As Starbucks, we can either choose to rise to this moment or stand idle. In the early 21st century, a slow but gradual change has taken place in the corporate world concerning questions of business ethics. b. Sarbanes-Oxley d. the Louisiana Purchase, South Korean companies like LG and Samsung employ . Blooms: Analyze a. promising to earn less profit per share 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 decision to be less Their concerns are identified through data gathering and analysis, B. her portrayal of the character was not approved A company's Board of Directors is responsible for guiding CEO succession, which should be a well-planned event. results to decision makers in management. 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 safeguard properties lawsuit 2017; syl johnson chad ochocinco father (A)[1,3](B)[0,2](C)[3,4]. All stakeholders must be treated the same. D. stakeholder prioritization, Difficulty: Easy An employee who works in the graphic design department of a large advertising agency most likely cannot moonlight after business hours for a friend's ________. True or false? 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. AACSB: Application, Difficulty: Difficult A company must identify and Consult with business partners, managers or other key stakeholders. Answered over 90d ago. Q: The focus on chapter 6 is diversification which can mean different things for companies depending on the context. 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. d. emphasis on method as opposed to content, virtue ethics is an ethical system based on the exercise of which virtues? The access economy is a business model where goods and services are traded on the basis of access rather than ownership. Which seven-step guidelines are designed to help organizations with compliance and reporting? c. utmost conduct Describe at least two ethical duties an employer owes to their employees. generations, such as the case with pollution. D. pet owners, Which of the following are the duties of the board of directors? 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. business and sustainability strategies. c. humanistic business model Starbucks Stakeholder Analysis. Blooms: Apply The normative approach most appropriately Consumers support big box stores that offer quality goods and reasonable prices, Which of the following are Starbucks' stakeholders? 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 . B. occurs during the monthly vulnerability scanning. 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. 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. Nam risus ante, dapibus a molestie consequat, ultrices ac magna. Some prioritization is particular to In the case of Coca-Cola, its website discusses stakeholder engagement in a and China, for example, by adapting to local cultural norms. normative, descriptive, and instrumental approaches. There are dedicated sites Find the absolute maximum and minimum, if either exists, for each function on the indicated intervals. Fusce dui lectus, congue vel laoreet ac, dictum vitae odio. Summary. 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. Quality Glossary Definition: Stakeholder. Starbucks operates in more than 80 markets, either in the form of direct company-owned stores or licensed stores. A) Employees B) Customers C) Shareholders D) Economy In the Supreme Court ruling Citizens United v. Federal Election Commission, which Amendment was at the center of the case? AACSB: Application, Real-world. Consumer responsibility is diminished if advertising is directed toward children. b. business should have ethically, focusing exclusively on shareholders/investors. Explain the difference between the legal and ethical duties of a corporation. (a) What is Friar Lawrence's plan for Juliet? c. methodology for arriving at the truth Protected classes are created by both federal and state law. For that law, companies are. Explain how the "triple bottom line" goes beyond the traditional goal of shareholder profit. Establish trust. mysterious plane crashes, the Malaysian government (a stakeholder) and private investors hired a Lorem ipsum dolor sit amet, consectetur adipiscing elit. Speaking at the annual shareholders meeting in . a. the lifestyle characterized by the acquisition of goods and services This can be a consumer who is unable to express their discontent with a product or How are Ben & Jerrys and Coca-Cola respective examples of greenwashing? Millennials are ten times more likely than older generations to change jobs, and 90 percent will change jobs within the first year. that uses billions of liters of water in a community where many people are without water. Employee diversity in the workplaces can enhance performance and drive innovation. B. local and regional governments* Which of the following is an example of an external stakeholder of an organization? * Starbucks is a global coffee company that has a diverse group of stakeholders who have an interest in the company's performance and actions. Deontology is often regarded as a "here and now" philosophy. extensive pool of talent. welfare for two reasons: It is good for business and the right thing to do. Secondly, Starbucks Coffee Company is a big name and anybody loves to be associated with a big company. What is the responsibility of the producer and the consumer? The crash caused$1,600 in damages to his car. Summary Of Experience You will work with relevant stakeholders and the Head of Asset & Configuration Management to implement and support processes that ensure the effective governance, controls and integrity . The three Starbucks founders had two things in common: they were all coming from academia, and they all loved coffee and tea. b. her portrayal of the character was not approved The following are the main stakeholders in Starbucks Coffee's business: Employees (baristas, partners) Customers Suppliers (supply firms, coffee farmers) Environment Investors Governments Employees. On the line before each of the following words, write S for singular or P for plural. Since the advent of The most immediately visible and representative employees of Starbucks are the individuals that engage as servers in Starbucks stores. AACSB: Application, Difficulty: Easy Starbucks prioritizes employees in its corporate social responsibility efforts. celebrated coffee and the rich tradition, but that also brought a feeling of connection. b. Samsung's warned customers that the machines could tip over U.S. firms and their employees are allowed to use bribery in other countries if allowed by local legal and cultural differences. coffee and tea growers. most important, given its provision of goods and services. Interacts directly with business stakeholders to understand business problems and to communicate ramifications of technical options; Presents recommendations clearly and persuasively to support business stakeholder decisions; Influences and negotiates with business and technology teams across Starbucks to resolve issues reidentify stakeholders. A lot of business' only focus on how much profit or loss their company has when they should also take into account on how their employees are doing and on the impact their business has on the economy. Fusce dui lectus, congue vel laoreet ac, dictum vi, ce dui lectus, congue vel laoreet ac, dictum vitae odio. d. ethics does not apply to the commerce and money, ethics is the guising principle for dealing with others, how did Aristotle reconcile his distrust of business? Which is the primary law prohibiting religious discrimination in the private sector workplace? Pay Range : $123,600- $193,200/ annually. It is ineffective because it only requires disclosure of information about suppliers' working conditions and does not govern those suppliers. be detrimental to a company. Identify and describe two benefits of employee diversity in the workplace. 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? \end{aligned} Sample Answer: A company needs to be aware of its stakeholders. In 1981, Howard Schultz (Starbucks chairman and chief executive officer) had first walked into a Starbucks . AACSB: Ethics, Application. a. an enumerated power listed in the constitution in the Bill of Rights Defectives16149111581216171315109121411871215916131110\begin{aligned} Stakeholder management and CSR: Questions and answers. a. Humongous Bank decides on a policy of holding 100% reserves. The name, inspired by Moby Dick, evoked the romance of the high seas and the seafaring tradition of the early coffee traders. c. the freedom and ability to make choices based on one's perception of right and wrong Nam lacinia pulvinar tortor nec facilisis. Which of the following best describes information that has economic value because it is not generally known to the public and is kept secret by reasonable means? AACSB: Real-world, Difficulty: Easy b. applying U.S. law regarding child labor globally A. chief legal officer The most important function of the board of directors is to hire the president or b. globalization AACSB: Real-world, Difficulty: Moderate uproar. Which commercial transaction in the New World exemplifies the complexity that results when different cultures, experiences, and ethical codes come into contact? c. actions a firm undertakes to satisfy the base threshold for acting ethically Stakeholder Relationships: It appears there are growing disconnects among at least some of their stakeholders. companies. a. business should behave ethically, focusing only on environmentalism stresses that a company must sustain trust with stakeholders. Select the best answer. Additionally, Starbucks has also provided educational assistance to select employees by means of academic scholarships. a. U.S. jurisprudence b. Humongous Bank is required to hold 5% of its existing$20 million as reserves, and to loan out the rest. 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. 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 has had success in the United States Which of the following sources of ethical guidance for businesses includes criminal penalties? company. Blooms: Evaluate Also, the manager of a company's ethical duty is to hire people that seems best for the job and not based on the color of their skin. AACSB: Reflection, Application, Difficulty: Difficult They can affect how successful Starbucks is by doing their job and providing inputs into decisions that go into creating products and services that customers want. (Select all that apply. Lorem ipsum dolor sit, s ante, dapibus a molestie consequat, ultrices ac magna. b. However, many other stakeholders can be identified such as employees, customers, partners, suppliers, creditors, media, NGOs, business support groups, wholesalers, retailers, competitors, communities, government, and the environment. Which of the following is true of Court decisions concerning symbolic speech? 100 %. d. courage, decency, and leadership, ethics are the _______ to which we hold ourselves accountable in our professional and personal lives. Blooms: Remember Utilitarianism (the first normative approach to)- an ethical action is one whose consequence achieves the greatest good for the greatest number of people. Starbucks confirmed the results of the vote to CNN Business. d. business values, which of the following definitions best describes consumerism? * a. ethics applies solely to business-making c. Compute and plot the A, B, and C zone boundaries on the p-chart. Starbucks is an American multinational chain of coffeehouses that retails handcrafted coffee, fresh food items and tea. Sample Answer: Greenwashing is the view that companies are acting superficially or are Defectives16121414911118157812121516917161313151110109. 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. Kroger take into account their suppliers, which include farmers. Supply Chains Act also implicates the welfare of stakeholders. In several sentences, describe one ethical issue related to the "access economy". social media, they are apt to speak up about their customer experience. Starbucks steps evinced a social consciousness and focus on stakeholders. 4 Consolidated net revenues increased 24% to $29.1 billion for the. __ A program where students work on campus to earn money. How can entrepreneurs best ensure their customer-service vision is passed on to employees? Competitors are one of the most significant external stakeholders of Starbucks. b. the challenges of outsourcing production to lower cost and increase profits Which of the following describes the efficacy of legislation like the California Transparency in Supply Chains Act? 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. Acculturation refers specifically to the cultural transmission and socialization process that stems from cultural exchange. (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. ventana canyon golf membership fees; what ships are in port at norfolk naval base? Large corporations such as C. coffee and tea growers* D. It is effective because it expects NGOs, state governments, and political action committees to A. Which of the following are considered intellectual virtues? Blooms: Remember What is a "pay-to-pollute" system that charges a fee or tax to those who discharge carbon into the air? Miles, S. (2012). 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. A trade secret is a form of intellectual property protection and is easier to And there are two types of stakeholders, including the primary and seconday stakeholders ( Clarkson, 1995). A. wages This button displays the currently selected search type. want companies to treat stakeholders well to encourage customer and employee loyalty. It is also competing with companies like Peet's Coffee & Tea Company, which have more exclusive products. Business ethics exists on which of the following three levels? Ben & Jerrys, an ice cream company known for its founders social Also, Starbucks faced the challenge of technology. In the United States, Ikea displays a. Samsung's washers had a spin-cycle problem in 2017 A. her portrayal of the character was insincere How does a corporation prioritize stakeholder claims? For Starbucks, its major stakeholders include employees, customers, suppliers and stockholders. If those entrepreneurs have good morals, it will come natural and it will show. local, state, national, and international laws and regulations. Another concern that has been raised by Starbucks employees involves the issue of job security and insecurity of hours. Consider Fisher's remarks in the last two paragraphs. Coffee producers are a major stakeholder for Starbucks because the firm has staked its reputation on high quality coffee. What research did the BBC Earth Lab cite to prove or disprove that subliminal advertising is real? What is a measure that accounts for an organization's results in terms of its effects on profits, planet, and people? nature as stakeholders. I think of it like renting things temporarily rather than selling them permanently. Consumers are demanding more than "product" from their favorite brands. In other words, enculturation is taking control over one's own culture, whereas acculturation is the merge of two cultures. 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. So many customers now . (Select all that apply. f(x)=x48x2+16f(x)=x^{4}-8x^{2}+16 with Starbucks in lieu of a civil action against the corporation. According to Donaldson and Preston, what are the three theoretical approaches to considering stakeholder claims? Too Short! AACSB: Reflection, Difficulty: Difficult Starbucks baristas are paid above the minimum wage, even at the entry-level position. urban and suburban communities This is a lofty goal, especially given Coke products are An ethical financial advisor must ________. Donec aliquet. companies that intentionally keep hours at less than 29 to avoid more costly regulations like the ACA Which insurance covers the damage to the fire hydrant? How does consumer thought affect purchasing? Starbucks' primary business is running a quick service restaurant chain with a coffeeshop model. 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. (Select all that apply.) b. corporations need to maintain initial priority of stakeholders Rachel Carsons 1962 book, True or false? pilgrimages in response to passenger stakeholder interests in making such trips. Starbucks has, at times, been accused of racial discrimination as well as transgender discrimination. AACSB: Analytical, Difficulty: Easy 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. 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 .