Millennials are ten times more likely than older generations to change jobs, and 90 percent will change jobs within the first year. 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. AACSB: Ethics, Difficulty: Easy Blooms: Analyze, Evaluate Which of the following are Starbucks' key stakeholders? __ A program where students work on campus to earn money. This is a great way to remind business' that not everything is about the money and how making a few changes can result as success in the long run. An ethical financial advisor must ________. We are, therefore, The shippers have also announced the suspension of both . D. plastic-cover manufacturers, Which are some types of stakeholder relationships that a local chamber of commerce would Car design should focus on being competitive on the road. Has opportunity to lead a team. It is important to focus on employees and customers when considering the ways in which Starbucks is impacted by the principles of stakeholder ethics. Employee diversity in the workplaces can enhance performance and drive innovation. B. her portrayal of the character was not approved It also changed its policy of allowing noncustomers to visit its stores and use restrooms. 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. 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. c. ethics is the guiding principle for dealing with others . Starbucks prioritizes employees in its corporate social responsibility efforts. It is also competing with companies like Peet's Coffee & Tea Company, which have more exclusive products. (Select all that apply. C. Stakeholder perceptions have a large impact on success. 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. 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. External stakeholders have a direct impact if they purchase a product and the relationship they have with a company. From the beginning, Starbucks set out to be a different kind of company. Bonus Eligible : Yes. Which of the following actions are needed to implement Howard Schulz's strategy of putting Starbucks' innovation on display? represents ethical stakeholder theory. 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. AACSB: Application, Difficulty: Easy (promenades; tarries). Describe what type of goal each is. Blooms: Evaluate The Starbucks franchises in New Zealand have also been accused of underpaying their younger workers. Blooms: Apply The coffeehouse company must strengthen its competitive advantages accordingly. In the Supreme Court ruling Citizens United v. Federal Election Commission, which Amendment was at the center of the case? Draw a T-account for the bank. with Starbucks in lieu of a civil action against the corporation. 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. ), milk producers The main reason for forming a corporation is to limit the liability of the owners. beds to show customers the available bed sizes. Which of the following describes the efficacy of legislation like the California Transparency in Supply Chains Act? AACSB: Application, Real-world. b. code of ethics 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? (Select all that apply. Pellentesque dapibus efficitur laoreet. The duty to obey a categorical imperative is irrespective of consequences. B. amenities* Starbucks CEO Kevin Johnson earned a $1.86 million bonus in fiscal year 2020 in addition to a larger retention award, designed to. Most business organizations hold three different kinds of beliefs about themselves. have? To achieve a greater degree of diversity in the workplace, managers' goals should encompass which of the following? (Select all that apply.) Blooms: Understand, Apply What research did the BBC Earth Lab cite to prove or disprove that subliminal advertising is real? About Starbucks, the main challenges related to economic, social, and technological factors. Starbucks confirmed the results of the vote to CNN Business. consumed by 20% of the worlds population. Fusce dui lectus, congue vel laoreet ac, dictum vitae odio. \end{aligned} ), religious beliefs If those entrepreneurs have good morals, it will come natural and it will show. Which concept holds that workers should be paid on the basis of the value of their job to the organization? Utilitarianism (the first normative approach to)- an ethical action is one whose consequence achieves the greatest good for the greatest number of people. c. is an unattainable goal of perfect virtue Sample Answer: Ikea is a multinational furniture store. The phrases Starbucks and Coffee were later removed from the cup so that the brand might potentially extend beyond coffee products. It is not necessary to conduct extensive market research. Felix Madison has $10,000 worth of property damage insurance and a$1,000 deductible collision insurance policy. The people in this economy have $20 million in money, and they deposit all their money in Humongous Bank. Starbucks competes with many other coffeehouses, including Dunkin' Donuts, McDonald's, and Caribou Coffee. D. pet owners, Which of the following are the duties of the board of directors? For the long term, business operations need to inculcate stakeholder Stakeholders: Essentially contested or just confused? Also, it is crucial that the company inform a. community good for business and the right thing to do from an ethical standpoint. Business ethics exists on which of the following three levels? Difficulty: Difficult The main difference between a bribe and a gift is intent. Blooms: Understand As an illustration, Starbucks once became the focus of an alleged controversy involving what some people have claimed is a war on Christmas by issuing holiday cups that were neutral as far as the absence of any references to specific holidays. Which intellectual, emotional, and social human trait affects all decision-making, including ethical decisions? It must determine which are (Select all that apply. Which of the following are Starbucks' stakeholders? The airline is now focused on promoting Muslim Starbucks operates in more than 80 markets, either in the form of direct company-owned stores or licensed stores. 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. marketplace, Starbucks has an opportunity to lead by example. 52,000 workers in the US and many US companies now manufacture their products abroad. I think of it like renting things temporarily rather than selling them permanently. 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 . b. Sarbanes-Oxley c. business should behave ethically, being responsible to all stakeholders Starbucks set out on its current course in the 1980s . even perhaps industry standards? (Select all that apply. 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 ________. b. B. government liaison/lobbying director b. carbon tax celebrated coffee and the rich tradition, but that also brought a feeling of connection. 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 . insufficient. Explain Lynn Stouts view of the role of shareholders and the implication for stakeholder Stakeholder Relationships: It appears there are growing disconnects among at least some of their stakeholders. 16 & 14 & 9 & 11 & 15 & 8 & 12 & 16 & 17 & 13 & 15 & 10 & 9 \\ people do not need some of the promoted products or services. * Which of the following is considered the most important internal stakeholder of a corporation? All Rights Reserved. This includes race, color, religion, national origin or ancestry, sex and so on. Starbucks baristas are paid above the minimum wage, even at the entry-level position. Shippers. A. entities and people invested and influential in the success of an organization* Explain how Ikea has had to adapt its business model in different countries. 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. This is viewed We will send [DOCUMENT_TITLE] to your email. He has the following security-related information: Parvalue$1,000Couponinterestrate6%Taxbracket20%Cost$930Yearstomaturity10\begin{array}{llll} c. utmost conduct 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. Additionally, the company maintains a range of opportunities for internal promotion. Select the best answer. b. Samsung's warned customers that the machines could tip over stresses that a company must sustain trust with stakeholders. b. the doctrine that a corporation has some of the same legal rights and responsibilities enjoyed by natural persons Identify and describe two challenges an employer may face in providing reasonable accommodations under the ADA for employees. Furthermore, there is Humongous Bank is the only bank in the economy. Which is the best example of a novelty craze? Which of the following is not an example of a diffused shareholder? Which legislation was passed in 2002 that mandates reporting transparency by businesses in areas ranging from finance to accounting to supply chain activities? Sample Answer: Greenwashing is the view that companies are acting superficially or are Home4Dance Huddersfield, England, United Kingdom3 weeks agoBe among the first 25 applicantsSee who Home4Dance has hired for this roleNo longer accepting applications. 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. Henry Ford must operate Ford Motor Company primarily to maximize profit for its shareholders. Blooms: Remember . discrepancy is stark. uproar. 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. 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. as compromising the mission of Ben & Jerrys as envisioned by its founders. 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. b. competitors B. shareholders (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. 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. chief executive officer. premise by lawyers and legal-aid groups. It is in a business's best interest to promote human flourishing within the organization by providing ________. A. her portrayal of the character was insincere If Starbucks follows a strategy of competing in more than one business product, which of the following goals could it accomplish? a hypothetical situation in which rational people can arrive at a contract. The way corporations pay their "duties" to the owners is by distributing the profits to shareholders in the form of dividends after earning revenue and deducting expenses. Which of the following laws ensures that employers provide a workplace environment free of risk to employees' safety and health? Lorem ipsum dolor sit amet, consectetur adipiscing elit. PR was necessary for activists to gain a following, formulate a common message against Starbucks, and keep the company accountable to the public for this incident. Miles, S. (2012). Which of the following is an example of an external stakeholder of an organization? d. business values, which of the following definitions best describes consumerism? 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. (2013). 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Once data are validated, managers present the What are some examples of how companies take into account the welfare of stakeholders? C. legal compliance* Today, with over 32,000 stores around the globe, the company is the premier roaster and retailer of specialty coffee in the world. A. industry norms* AACSB: Application, Analytical, Difficulty: Moderate According to Donaldson and Preston, what are the three theoretical approaches to considering stakeholder claims? Intellectual- includes knowledge, wisdom, and prudence (the most important one). ventana canyon golf membership fees; what ships are in port at norfolk naval base? Partners with stakeholders and business hiring managers to ensure that the project has the skillsets and resources required for delivery. \end{array} Which commercial transaction in the New World exemplifies the complexity that results when different cultures, experiences, and ethical codes come into contact? For the coffee producers, Starbucks' position with regards to their needs can have a tremendous impact on the ways in which other coffee purchasers treat them as well. Starbucks Coffee Company supports its competitive advantages through the characteristics of its corporate structure. AACSB: Real-world, Difficulty: Easy c. methodology for arriving at the truth : 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). Today, Starbucks hosted its 30 th annual meeting of shareholders virtually. Which of the following are factors included when applying a legal definition of diversity? Nam risus ante, dapibus a molestie consequat, ultrices ac magna. 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 gender 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 ________. Which is the primary law prohibiting religious discrimination in the private sector workplace? Which of the following are steps in the MITRE stakeholder process? Employees and customers are the two most visible manifestations of the activities of Starbucks and certainly the most visible stakeholders (Mansell, 2013). True or False: The environment is not considered a stakeholder, True or False: Goodwill . The access economy is a business model where goods and services are traded on the basis of access rather than ownership. b. ethical principles that apply everywhere despite differences in time, geography and culture Too Short! safeguard properties lawsuit 2017; syl johnson chad ochocinco father b. means supporting dogmatic rationality C. Defining a companys ongoing mission* In China, Ikea allows its visitors to take naps on One that not only. To uphold honorable standards of behavior. a. the responsibility a company has regarding justice and care governance. As for ethical duties, they are standards based on human principles of right from wrong. 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. Sample Answer: A company needs to be aware of its stakeholders. 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. c. Citizens United 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. which are the universal principles of behavior? ), how to distribute resources fairly and evenly Download Assets. They have clearly defined symbolic speech but have ruled that it is never protected. which of the following most likely contributes to a corporation's positive work atmosphere over the long term? It Which are some types of stakeholder relationships that a local chamber of commerce would have? the cost of stakeholders. In 1981, Howard Schultz (Starbucks chairman and chief executive officer) had first walked into a Starbucks . ), Explore over 16 million step-by-step answers from our library, icitur laoreet. essence of Stouts view is concern that shareholders may want to maximize their investment at Blooms: Analyze Starbucks is opening small cafes half the size of existing cafes. Fusce dui lectus, congue vel laoreet ac, dictum vitae odio. Difficulty: Difficult At times, Starbucks has become embroiled in a range of political and social controversies as well (Freeman & Moutchnik, 2013). This incident caused a global 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? Having theoretical approaches to stakeholders highlights Toward a theory of stakeholder identification and salience: Defining the principle of who and what really counts. What CSR lesson did Starbucks convey when it closed its stores for a day? a. he viewed those outside economic and political circles as virtuous One way to address the issue of shared responsibility between corporations and society is the implementation of a(n) ________. The most immediately visible and representative employees of Starbucks are the individuals that engage as servers in Starbucks stores. How much will money supply increase with that original loan of $19 million? 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). AACSB: Real-world, Difficulty: Moderate Sample Answer: In May 2018, Starbucks closed its stores after an incident in which two African &\text { Defectives }\\ What constitutes a reasonable profit may be unfair. In several sentences, describe how ethical standards can shift with geography and time. Legal duties of a corporation are the legal standards that are in governmental laws for example, a duty to report a felony or to keep premises clean. this is an example of.. 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 best describes information that has economic value because it is not generally known to the public and is kept secret by reasonable means? 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 Job Summary and Mission. D. her portrayal of the character offended stakeholders*, Which of the following is a resource made available to employees, in addition to salary? 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. Summary. Answered over 90d ago. Although Starbucks lost profit from closing stores, it gained some credibility with communities. A stakeholder is any party, individual, or group interested in an organization's actions and outcomes. 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. Blooms: Analyze Yet there D. Car manufacturers need to be quicker to the market. Blooms: Remember Freeman, R. E. & Moutchnik, A. f(x)=x48x2+16f(x)=x^{4}-8x^{2}+16 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). If you feel harassed, prejudiced against, or disadvantaged in your workplace, you may file a complaint with the ________. STEP 1: DEFINE STAKEHOLDER ENGAGEMENT Discuss the meaning of stakeholder engagement. (review sheet 4), Leadership class , week 3 executive summary, I am doing my essay on the Ted Talk titaled How One Photo Captured a Humanitie Crisis https, School-Plan - School Plan of San Juan Integrated School, SEC-502-RS-Dispositions Self-Assessment Survey T3 (1), Techniques DE Separation ET Analyse EN Biochimi 1, Human Resource And Fiscal Mgmt (ADMS 640), Which of the following are Starbucks stakeholders? The C. legislatures b. the challenges of outsourcing production to lower cost and increase profits Consumer responsibility is diminished if advertising is directed toward children. Before-tax cost of debt and after-tax cost of debt: David Abbot is considering purchasing a Sony bond. They can be found working as baristas, store managers, or regional executives. (Select all that apply.). Applying the big box store example from the chapter, which conflicts demonstrate that stakeholder claims vary? Applicants must submit a complete application to receive an interview. It is insufficient to have a mission statement, language on a website, or 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? Deontology is often regarded as a "here and now" philosophy. 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). b. corporations need to maintain initial priority of stakeholders No.The responsibility a producer has is always being honest, even with their marketing campaigns. True or false? Employees Which of the following describes the relationship, if any, between the vision and the mission for a company such as Starbucks? b. set of cultural norms They need to develop sustainable sources of quality beans. a. U.S. jurisprudence d. he thought money should only be allowed for those in trades. The environment is not considered a stakeholder. A company's Board of Directors is responsible for guiding CEO succession, which should be a well-planned event. b. ethics is about what someone does Fu, itur laoreet. 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. Which of the following definitions best describes mercantilism? influence suppliers working conditions. Some prioritization is particular to Certainly, Starbucks is a firm that contains or is associated with many kinds of stakeholders. Coffee producers are a major stakeholder for Starbucks because the firm has staked its reputation on high quality coffee. In a short paragraph, describe the difference between enculturation and acculturation. Describe Kant's "Deontology" view of ethics. 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 .