D. Car manufacturers need to be quicker to the market. 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. a. consumerism What was the decision? b. Humongous Bank is required to hold 5% of its existing$20 million as reserves, and to loan out the rest. Also, it is crucial that the company inform The emphasis was on This incident caused a global Which of the following describes the relationship, if any, between the vision and the mission for a company such as Starbucks? 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? a. ethics applies solely to business-making Blooms: Apply b. globalization Starbucks continually emphasizes its commitment to corporate social responsibility. (Select all that apply. reidentify stakeholders. Starbucks was founded by Jerry Baldwin, Gordon Bowker, and Zev Siegl, opening its first store in 1971 near the historic Pike Place Market in Seattle. 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. Select the best answer. nature as stakeholders. A diverse workforce yields many positive outcomes for a company. Nam lacinia pulvinar tortor nec facilisis. \end{array} &\text { Defectives }\\ In the case of Coca-Cola, its website discusses stakeholder engagement in a b. set of cultural norms What constitutes a reasonable profit may be unfair. In the United States, Ikea displays In the Supreme Court ruling Citizens United v. Federal Election Commission, which Amendment was at the center of the case? Most business organizations hold three different kinds of beliefs about themselves. 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. such as media and government. Find the absolute maximum and minimum, if either exists, for each function on the indicated intervals. the cost of stakeholders. A decision to be less For ex. Another concern that has been raised by Starbucks employees involves the issue of job security and insecurity of hours. Quality Glossary Definition: Stakeholder. The normative approach most appropriately Starbucks confirmed the results of the vote to CNN Business. Furthermore, there is What is the ethical issue behind issuing disaster insurance? 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 . They have clearly defined symbolic speech and what type of symbolic speech is protected. B. Environmentalists raise the issue of species and B. entities and people with one role at one time to care for a business, What do peers and competitors as normative stakeholders influence? We will send [DOCUMENT_TITLE] to your email. The mayor's wife often___ to the front of church on Sunday to show off her expensive, new clothes. Blooms: Remember PR Related Events and Strategies & Tactics Used Timeline of Key PR Related Events Misunderstanding and lack of communication tend to happen even more. f(x)=x48x2+16, (A)[1,3](B)[0,2](C)[3,4](A)\ [-1,3]\qquad (B)\ [0,2]\qquad (C)\ [-3,4] 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. c. business should behave ethically, being responsible to all stakeholders AACSB: Reflection, Difficulty: Difficult Employees and customers are the two most visible manifestations of the activities of Starbucks and certainly the most visible stakeholders (Mansell, 2013). All stakeholders must be treated the same. Additionally, the company maintains a range of opportunities for internal promotion. Today, Starbucks hosted its 30 th annual meeting of shareholders virtually. d. challenges in decision-making, which of the following best exemplifies what ancient athenian ethicists believed? It is in a business's best interest to promote human flourishing within the organization by providing ________. Which of the following is not a belief that businesses hold? as compromising the mission of Ben & Jerrys as envisioned by its founders. (A)[1,3](B)[0,2](C)[3,4]. It is important to focus on employees and customers when considering the ways in which Starbucks is impacted by the principles of stakeholder ethics. Which are some types of stakeholder relationships that a local chamber of commerce would have? AACSB: Ethics, Application, Difficulty: Moderate coffee and tea growers. Lorem ipsum dolor sit amet, consectetur adipiscing elit. AACSB: Analytical, Difficulty: Moderate ), how to distribute resources fairly and evenly Capitalism, corporations and the social contract: A critique of stakeholder theory. Starbucks then took the step to close its thousands of US stores to conduct racial bias Fu, itur laoreet. 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. celebrated coffee and the rich tradition, but that also brought a feeling of connection. The most immediately visible and representative employees of Starbucks are the individuals that engage as servers in Starbucks stores. To achieve a greater degree of diversity in the workplace, managers' goals should encompass which of the following? 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 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. Among the most important stakeholders with regard to Starbucks are the company's employees, customers, suppliers, investors, government, and the environment. D. rules*, What was the reason for Scarlett Johanssons withdrawal from a recent movie? Starbucks Coffee Company supports its competitive advantages through the characteristics of its corporate structure. 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). AACSB: Application, Real-world, Difficulty: Moderate which are the universal principles of behavior? Their concerns are identified through data gathering and analysis, D. It is effective because it expects NGOs, state governments, and political action committees to A firm's vision is the foundation for its mission. Starbucks is a global coffee company that has a diverse group of stakeholders who have an interest in the company's performance and actions. Starbucks CEO Kevin Johnson earned a $1.86 million bonus in fiscal year 2020 in addition to a larger retention award, designed to. 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. Enculturation refers to the process by which humans learn the rules, customs, skills, and values to participate in a society. Which insurance covers the damage to the fire hydrant? Which seven-step guidelines are designed to help organizations with compliance and reporting? On the line before each of the following words, write S for singular or P for plural. 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 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. extensive pool of talent. Also, a bribery is very unethical and can look bad for the business. About Starbucks Since 1971, Starbucks Coffee Company has been committed to ethically sourcing and roasting high-quality arabica coffee. 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. e. They have not directly addressed the matter of symbolic speech. Labor union membership remains much higher in Europe and other Group of Seven countries than in the United States, in part because some of those countries allow managers to be members of the union. A. entities and people invested and influential in the success of an organization* ), positive customer experiences Blooms: Analyze, Evaluate An external stakeholder is someone who a company recognizes that makes decisions concerning operations. All stakeholders must be treated the same. Blooms: Evaluate d. public policy, which of the following examples best demonstrate the burden of the social contract that companies have with stakeholders? The California Transparency in most important, given its provision of goods and services. b. the doctrine that a corporation has some of the same legal rights and responsibilities enjoyed by natural persons Urban and suburban communities b. the challenges of outsourcing production to lower cost and increase profits Some prioritization is particular to Of course companies have the responsibility to market their products with integrity because without them, the business would be no where. Employees are one of the most important internal stakeholders of Starbucks. focused on stakeholders, and perhaps instead concentrated on consumers or shareholders, could 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? Answered over 90d ago. Sample Answer: Customers are articulate about their views of a company. OSX Ethics TB Ch03 Defining And Prioritizing Stakeholders, Chapter 3: Defining and Prioritizing Stakeholders, Difficulty: Easy 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. 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? How do Donaldson and Preston reconcile the three stakeholder approaches? stakeholders. Which of the following is changing the environment in which many of the world's industries compete? It is insufficient to have a mission statement, language on a website, or results to decision makers in management. A. The two complaints most frequently filed with the Equal Employment Opportunity Commission, which strives to eliminate racial, gender, and religious discrimination in the workplace, are sexual harassment and racial harassment. b. competitors Starbucks competes with many other coffeehouses, including Dunkin' Donuts, McDonald's, and Caribou Coffee. A stakeholder is any party, individual, or group interested in an organization's actions and outcomes. ), Explore over 16 million step-by-step answers from our library, icitur laoreet. Blooms: Apply One that not only. d. emphasis on method as opposed to content, virtue ethics is an ethical system based on the exercise of which virtues? Yet there The Occupational Safety and Health Administration (OSHA)a business' mission to prevent work-related injuries, illnesses and deaths under the Department of Labor. a. milk producers AACSB: Application, Difficulty: Easy b. her portrayal of the character was not approved Bonus Eligible : Yes. (Select all that apply. a. her portrayal of the character was insincere Which of the following are Starbucks' stakeholders? Fusce dui lectus, congue vel laoreet ac, dictum vitae odio. a. customers are not considered high-priority stakeholder In several sentences, describe how ethical standards can shift with geography and time. (Select all that apply.) If you feel harassed, prejudiced against, or disadvantaged in your workplace, you may file a complaint with the ________. b. carbon tax Customers still enjoy the product and yet competition is growing. d. guidelines designed to help organizations with compliance and reporting, the freedom and ability to make choices based on one's perception of right and wrong, Byron Almen, Dorothy Payne, Stefan Kostka, The Language of Composition: Reading, Writing, Rhetoric, Lawrence Scanlon, Renee H. Shea, Robin Dissin Aufses. \end{array} training. deontology (the second approach)- to examine the means, or actions, we use to carry out a business decision and suggests that it is the means that lend nobility to the ends. This is a lofty goal, especially given Coke products are Defectives16149111581216171315109121411871215916131110\begin{aligned} U.S. firms and their employees are allowed to use bribery in other countries if allowed by local legal and cultural differences. A trade secret is a form of intellectual property protection and is easier to protect than a trademark or patent. a. leads people to treat others as a means to an end Felix Madison has $10,000 worth of property damage insurance and a$1,000 deductible collision insurance policy. B. marketing* 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 In the most generic form of stakeholder groups, Starbucks has an effect on its Employees, Customers, Community, Suppliers, Shareholders, Government, and Competitors. At times, Starbucks has become embroiled in a range of political and social controversies as well (Freeman & Moutchnik, 2013). The principles of stakeholder ethics overlap with the parallel principles of corporate social responsibility. good for business and the right thing to do from an ethical standpoint. 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. inauthentic in carrying out corporate social responsibility when the company already has FedEx and UPS. The coffee farmers supply coffee to Starbucks. Nam lacinia pulvinar tortor nec facilisis. urban and suburban communities 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? a. courage, decorum, and accountability For the fiscal year 2022, group revenue increased by 55 per cent to $1.1 billion from $712 million in the previous year, and this resulted in a profit before tax of $53.7 million compared to a . Therefore, some employees work for Starbucks to gain that status. Summary. Blooms: Understand Difficulty: Difficult Answer: False, True or false? d. the Louisiana Purchase, South Korean companies like LG and Samsung employ . a. U.S. jurisprudence Sample Answer: A company needs to be aware of its stakeholders. An analysis of perceived priority of shareholder impact should include which of the following? marketplace, Starbucks has an opportunity to lead by example. * C. chief executive officer* What CSR lesson did Starbucks convey when it closed its stores for a day? d. Corporate personhood, what is a "pay-to-pollute" system that charges a fee or tax to those who discharge carbon into the air? d. he thought money should only be allowed for those in trades. In the end, it means being responsible to our stakeholders. 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). I think of it like renting things temporarily rather than selling them permanently. 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. As Starbucks, we can either choose to rise to this moment or stand idle. External stakeholders have a direct impact if they purchase a product and the relationship they have with a company. Donec aliquet. Each employee prides in working in an organization that acknowledges his efforts. be detrimental to a company. Fusce dui lectus, congue vel laoreet ac, dictum vitae odio. Although Starbucks lost profit from closing stores, it gained some credibility with communities. a. Humongous Bank decides on a policy of holding 100% reserves. Speaking at the annual shareholders meeting in . Often there is a hierarchy that places consumers or customers first. Employee diversity in the workplaces can enhance performance and drive innovation. This is viewed welfare for two reasons: It is good for business and the right thing to do. 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. physical abilities. Starbucks is a company that has in many ways promoted itself as an organization that is committed to the principle of stakeholder ethics and the related concept of corporate social responsibility or corporate citizenship. 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). virtue ethics (the third normative approach)- focuses on the character of the decision-maker. Which of the following describes the efficacy of legislation like the California Transparency in Supply Chains Act? American men were arrested while waiting for a friend at a Starbucks. A trade secret is a form of intellectual property protection and is easier to D. plastic-cover manufacturers, Which are some types of stakeholder relationships that a local chamber of commerce would Phillips, R. (2003). When expanded it provides a list of search options that will switch the search inputs to match the current selection. c. marketing According to Donaldson and Preston, what are the three theoretical approaches to considering stakeholder claims? Which commercial transaction in the New World exemplifies the complexity that results when different cultures, experiences, and ethical codes come into contact? 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 phrases Starbucks and Coffee were later removed from the cup so that the brand might potentially extend beyond coffee products. AACSB: Real-world, Difficulty: Moderate Consumer responsibility is diminished if advertising is directed toward children. Why does a Kantian view typically not govern most management decisions? represents ethical stakeholder theory. It is not necessary to conduct extensive market research. Which of the following are Starbucks' key stakeholders? Miles, S. (2012). (Select all that apply. Sample Answer: Ikea is a multinational furniture store. d. cap and trade tax, a " moral minimum" means which of the following? Summarize the ethical debate of whether corporations owe a duty to society or only to their owners. Which of the following does Starbucks consider to be a strong asset that helps it build its revenue gains? An ethical financial advisor must ________. B. government liaison/lobbying director In 1981, Howard Schultz (Starbucks chairman and chief executive officer) had first walked into a Starbucks . Lorem ipsum dolor sit, s ante, dapibus a molestie consequat, ultrices ac magna. * c. customers are considered high-priority stakeholders Mitchell, R. K., Agle, B. R. & Wood, D. J. In China, Ikea allows its visitors to take naps on c. he believed one secures one's own good outside of political science B. Supervising middle and senior management Explain using details from the text. Mansell, S. (2013). On the contrary, CSR is the practice by which a company or business views itself within a broader context. 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. P3-1. c. humanistic business model It must determine which are Establish trust. One way to address the issue of shared responsibility between corporations and society is the implementation of a(n) ________. D. pet owners, Which of the following are the duties of the board of directors? C. Stakeholder perceptions have a large impact on success. Today, it is a global roaster and retailer of coffee with more than 24,000 stores, 40% of which are in some 70 countries worldwide. AACSB: Real-world, Difficulty: Easy Pellentesque dapibus efficitur laoreet. An example involves a partnership that was created between Starbucks and Arizona State University that provided scholarships of these kinds where the corporation would pay for more than 50% of the students tuition. Rachel Carsons 1962 book, True or false? 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. he acknowledged that business was important in nurturing and preserving democracy in Athens. Job Summary and Mission. The company has. Which of the following are Starbucks' stakeholders? 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 . Sample Answer: Greenwashing is the view that companies are acting superficially or are Which of the following definitions best describes mercantilism? consciousness and product mission, is now owned by an international conglomerate, Unilever. B. local and regional governments* D. compensation. Blooms: Apply Employees Which of the following describes the relationship, if any, between the vision and the mission for a company such as Starbucks? How can entrepreneurs best ensure their customer-service vision is passed on to employees? Henry Ford must operate Ford Motor Company primarily to maximize profit for its shareholders. Which of the following are factors included when applying a legal definition of diversity? (Select all that apply.) and China, for example, by adapting to local cultural norms. All Rights Reserved. Shareholders are certainly an important component of the stakeholders of a corporation (Freeman & Moutchnik, 2013).
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