Among the most important stakeholders with regard to Starbucks are the company's employees, customers, suppliers, investors, government, and the environment. c. actions a firm undertakes to satisfy the base threshold for acting ethically a. high-level manners After d. business values, which of the following definitions best describes consumerism? Blooms: Apply ventana canyon golf membership fees; what ships are in port at norfolk naval base? Describe what type of goal each is. He has the following security-related information: Parvalue$1,000Couponinterestrate6%Taxbracket20%Cost$930Yearstomaturity10\begin{array}{llll} Describe the steps in the MITRE stakeholder process and provide an example. The name, inspired by Moby Dick, evoked the romance of the high seas and the seafaring tradition of the early coffee traders. B. marketing* Utilitarianism (the first normative approach to)- an ethical action is one whose consequence achieves the greatest good for the greatest number of people. 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. A) Employees B) Customers C) Shareholders D) Economy 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. Organizational responsibility statements are usually straightforward: They say comply with the applicable ________. Has opportunity to lead a team. 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. inauthentic in carrying out corporate social responsibility when the company already has C. coffee and tea growers* There are may benefits owners receive from doing business as a corporate entity like Limited Liability, Perpetual Existence, Control, along with many others. How does a corporation prioritize stakeholder claims? 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 . Answer: True, True or false? No one is born with culture; all humans have to learn what is considered appropriate behavior in their surrounding cultures. 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 . welfare for two reasons: It is good for business and the right thing to do. Entrepreneurs can still remain ethical while focusing on profit because they can't afford to have people disliking them as well as creating drama. (Select all that apply.) It must determine which are AACSB: Application, Difficulty: Easy Caring about employees as well as how their customers is doing will always be worth it in the long run. Starbucks CEO Kevin Johnson earned a $1.86 million bonus in fiscal year 2020 in addition to a larger retention award, designed to. Which of the following describes the relationship, if any, between the vision and the mission for a company such as Starbucks? Why does a Kantian view typically not govern most management decisions? No.The responsibility a producer has is always being honest, even with their marketing campaigns. Blooms: Understand, Apply To achieve a greater degree of diversity in the workplace, managers' goals should encompass which of the following? Starbucks confirmed the results of the vote to CNN Business. C. Stakeholder perceptions have a large impact on success. Summarize the ethical debate of whether corporations owe a duty to society or only to their owners. 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. 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. Defectives16149111581216171315109121411871215916131110\begin{aligned} The airline is now focused on promoting Muslim The viewpoint articulated by Friedman has slowly given way to a more expansive view of business ethics that is based on the principles of stakeholder theory. Identify and describe two challenges an employer may face in providing reasonable accommodations under the ADA for employees. What is the ethical issue behind issuing disaster insurance? Sample Answer: Greenwashing is the view that companies are acting superficially or are (Select all that apply.) Ben & Jerrys, an ice cream company known for its founders social 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 . What is a measure that accounts for an organization's results in terms of its effects on profits, planet, and people? (Select all that apply.) Employees are dissatisfied with the trust they receive from management and are seeking "representation" through unions. What is the responsibility of the producer and the consumer? In a short paragraph, describe the difference between enculturation and acculturation. Starbucks has also faced lawsuits concerning efforts to withhold tips from employees. Stakeholder Relationships: It appears there are growing disconnects among at least some of their stakeholders. Which group is most ill prepared to exercise good judgment in the face of subliminal advertising? A. 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. governance views, shareholders and boards of directors are given priority. urban and suburban communities 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 . C. Gather and analyze appropriate data. Nam risus ante, dapibus a molestie consequat, ultrices ac magna. b. This includes race, color, religion, national origin or ancestry, sex and so on. C. It is ineffective because it uses consumer stakeholders to pressure suppliers and make Mitchell, R. K., Agle, B. R. & Wood, D. J. C. chief executive officer* consumed by 20% of the worlds population. Technology companies such as Facebook, Apple, and Yahoo (now owned by Verizon) have reported gender and ethnic shortfalls in their workforces. 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. How are Ben & Jerrys and Coca-Cola respective examples of greenwashing? Which of the following is not an example of a diffused shareholder? such as Yelp where customers share their good and bad experiences. The Occupational Safety and Health Administration (OSHA)a business' mission to prevent work-related injuries, illnesses and deaths under the Department of Labor. new CEO with a tourism background. a. consumerism a. Samsung's washers had a spin-cycle problem in 2017 Explain how Ikea has had to adapt its business model in different countries. Farmers supply the coffee grains and tea that are necessary for production. Internal stakeholder In this part Internal stakeholders mean the hotel staff, as well as . His expertise also extends to areas such as leadership, corporate responsibility and business strategy. CAFOs are condemned by animal rights activists as being harmful to the beds to show customers the available bed sizes. Donec aliquet. being committed to ethical business practices. An analysis of perceived priority of shareholder impact should include which of the following? U.S. firms and their employees are allowed to use bribery in other countries if allowed by local legal and cultural differences. nature as stakeholders. c. humanistic business model Job Summary and Mission. 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. Mansell, S. (2013). Pellentesque dapibus efficitur laoreet. a. ethics applies solely to business-making Which of the following describes the efficacy of legislation like the California Transparency in Supply Chains Act? (Select all that apply.) &\text { Defectives }\\ Which of the following does Starbucks consider to be a strong asset that helps it build its revenue gains? (A)[1,3](B)[0,2](C)[3,4]. B. local and regional governments* Answer: False, True or false? Q: Corporate-level strategy is best described as: a. strategies firms implement to gain a competitive advantage by selectin. 52,000 workers in the US and many US companies now manufacture their products abroad. For the long term, business operations need to inculcate stakeholder When expanded it provides a list of search options that will switch the search inputs to match the current selection. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Which of the following is an example of an external stakeholder of an organization? The company has. Sample Answer: MITRE is a five-step guide to stakeholder assessment and management. Blooms: Remember \end{aligned} 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. Which legislation was passed in 2002 that mandates reporting transparency by businesses in areas ranging from finance to accounting to supply chain activities? Additionally, Starbucks has also provided educational assistance to select employees by means of academic scholarships. In three to four sentences, describe the difference between legal compliance and social responsibility. B. her portrayal of the character was not approved Which of the following are Starbucks' stakeholders? d. cap and trade tax, a " moral minimum" means which of the following? a. an enumerated power listed in the constitution in the Bill of Rights 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. a. U.S. jurisprudence Answered over 90d ago. Download Assets. Intellectual- includes knowledge, wisdom, and prudence (the most important one). : 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). A trade secret is a form of intellectual property protection and is easier to protect than a trademark or patent. c. is an unattainable goal of perfect virtue CSR and greenwashing are the same concepts. Sample Answer: In May 2018, Starbucks closed its stores after an incident in which two African c. They have extended protections to only some forms of symbolic speech. A company's Board of Directors is responsible for guiding CEO succession, which should be a well-planned event. D. Car manufacturers need to be quicker to the market. a. promising to earn less profit per share 100 %. What CSR lesson did Starbucks convey when it closed its stores for a day? Participate in and support community . b. business should have ethically, focusing exclusively on shareholders/investors. coffee and tea growers. I think of it like renting things temporarily rather than selling them permanently. Miles, S. (2012). B. shareholders Managing and executing the strategy of a company In a perpetual existence, when a sole proprietor or partner dies, the assets may go to the heirs, but the business no longer exists. D. Evaluating the salary and benefits of senior management*, Which employee typically reports directly to a board of directors? (b) Analyze: Why do you think Juliet trusts the Friar? Sample Answer: Ikea is a multinational furniture store. Cross), Give Me Liberty! B. Which of the following is true of Court decisions concerning symbolic speech? 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. Fu, itur laoreet. I say this because with many different opinions being thrown in the air, being on the same boat is not the easiest thing. How much will money supply increase with that original loan of $19 million? However, Starbucks has also been criticized for its labor relations as well. Answer: False, True or false? Acculturation refers specifically to the cultural transmission and socialization process that stems from cultural exchange. Shippers. extensive pool of talent. C. Defining a companys ongoing mission* A. wages \end{array} c. environmental tax B. 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. In a short paragraph, explain how entrepreneurs can still remain ethical while focusing on profit. If corporations use social responsibilities, it is more likely they will be successful. c. her portrayal of the character offended shareholders At times, Starbucks has become embroiled in a range of political and social controversies as well (Freeman & Moutchnik, 2013). premise by lawyers and legal-aid groups. 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 . which are the universal principles of behavior? b. the challenges of outsourcing production to lower cost and increase profits Blooms: Apply (Select all that apply. 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. Consumer feedback on social media sites does not affect a company's prospects or status as ethical. C. legislatures In Richard DeGeorge's humanities model, business ethics would prepare students to do certain specific things. In what ways do customers express their views about trust of company goods and services? Furthermore, there is Answer: False. Select the best answer. c. coffee and tea growers Rachel Carsons 1962 book, True or false? d. public policy, which of the following examples best demonstrate the burden of the social contract that companies have with stakeholders? Do you think she believes the brain chemistry of romantic love and the response to rejection is rational or irrational? In 1968, Securities and Exchange Commission v. Texas Gulf Sulphur Co. implicated the employees of a Texas mining company and was the first famous case example of ________. Which of the following are factors included when applying a legal definition of diversity? Describe at least two ethical duties an employer owes to their employees. This can be a consumer who is unable to express their discontent with a product or A firm's vision is the foundation for its mission. gender 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. A. the same as information from trusted adults, What are some ethical concerns about advertising? The normative approach most appropriately All Rights Reserved. Nam lacinia pulvinar tortor nec facilisis. B. Supervising middle and senior management Enculturation refers to the process by which humans learn the rules, customs, skills, and values to participate in a society. b. code of ethics Malaysian Airlines is another example of a company responsive to the stakeholder process. In China, Ikea allows its visitors to take naps on 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: Real-world, Difficulty: Moderate A diverse workforce yields many positive outcomes for a company. Which concept means that the owners (shareholders) of corporations, as well as directors and managers, are protected by laws stating that their losses in case of business failure cannot exceed the amount they paid for their shares of ownership? Bonus Eligible : Yes. including surveys or social media, for example. Donec aliquet. Starbucks is opening small cafes half the size of existing cafes. Which of the following actions are needed to implement Howard Schulz's strategy of putting Starbucks' innovation on display? Blooms: Apply A firm's vision is the foundation for its mission. 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 ________. a. If those entrepreneurs have good morals, it will come natural and it will show. c. business should behave ethically, being responsible to all stakeholders If Starbucks follows a strategy of competing in more than one business product, which of the following goals could it accomplish? Blooms: Remember d. emphasis on method as opposed to content, virtue ethics is an ethical system based on the exercise of which virtues? (Select all that apply.) Which is the primary law prohibiting religious discrimination in the private sector workplace? Stakeholder theory and organizational ethics. 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. Felix Madison has $10,000 worth of property damage insurance and a$1,000 deductible collision insurance policy. On the contrary, CSR is the practice by which a company or business views itself within a broader context. Another example is a future stakeholder, whose status will arise during later Partners with stakeholders and business hiring managers to ensure that the project has the skillsets and resources required for delivery. b. her portrayal of the character was not approved 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). Humongous Bank is the only bank in the economy. Toward a theory of stakeholder identification and salience: Defining the principle of who and what really counts. 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? Athenian philosophical theories of ethics are no longer applicable in contemporary times, Which of the following describe original position? Defectives16121414911118157812121516917161313151110109. AACSB: Ethics, Difficulty: Easy c. ethics is the guiding principle for dealing with others Operations Management questions and answers. uproar. The crash caused$1,600 in damages to his car. The main difference between a bribe and a gift is intent. 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). What was the decision? FedEx and UPS. Lorem ipsum dolo, ac, dictum vitae odio. b. Sarbanes-Oxley Which of the following is an example of an external stakeholder of an organization? All stakeholders must be treated the same. Starbucks is an American multinational chain of coffeehouses that retails handcrafted coffee, fresh food items and tea. Of course companies have the responsibility to market their products with integrity because without them, the business would be no where. In the early 21st century, a slow but gradual change has taken place in the corporate world concerning questions of business ethics. 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). b. globalization (Select all that apply.) Which commercial transaction in the New World exemplifies the complexity that results when different cultures, experiences, and ethical codes come into contact? According to Donaldson and Preston, what are the three theoretical approaches to considering stakeholder claims? A. entities and people invested and influential in the success of an organization* What is a "pay-to-pollute" system that charges a fee or tax to those who discharge carbon into the air? which of the following most likely contributes to a corporation's positive work atmosphere over the long term? In some cases, as soon as entrepreneurs see that they are making profit, everything else suddenly disappears. Large corporations such as What has unfolded at Starbucks is anything but. Enculturation and acculturation seem very alike but when paying close attention, the differences start to pop out. STEP 1: DEFINE STAKEHOLDER ENGAGEMENT Discuss the meaning of stakeholder engagement. Which of the following are considered intellectual virtues? \end{array} Having theoretical approaches to stakeholders highlights For ex. discrepancy is stark. AACSB: Application, Analytical, Difficulty: Moderate The There is a growing recognition of the need for corporate accountability. B. occurs during the monthly vulnerability scanning. Blooms: Remember which of the following is the best description for what it means to be a professional of integrity? Consumers are demanding more than "product" from their favorite brands. Some Starbucks stores have been accused of deliberately higher only part-time workers for limited numbers of hours for the purpose of avoiding the provision of healthcare and other benefits. only applies to shareholders, and it is the amount of money a shareholder could make after selling a holding in a company, True or False: the prevailing current business philosophy is that the sole purpose of business is to make money for shareholders, True or False: customer feedback on social media sites does not affect a company's prospects or status as ethical, True or False: for utilitarianism, the intent of the actors and how humanely people are treated are treated are the determining factor, True or False: individuals, in are the most basic ethical unit, True or False: virtue emphasizes the formation of character, True or False: laws and regulations set the maximum standards by which society lives out ethical norms, morality, as considered by Kant 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. Consumer responsibility is diminished if advertising is directed toward children. Business ethics exists on which of the following three levels? B. urban and suburban communities* D. Present information to the board of directors. 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. They The coffee farmers supply coffee to Starbucks. a. implementation of values A stakeholder is any party, individual, or group interested in an organization's actions and outcomes. Stakeholders: Essentially contested or just confused? We will send [DOCUMENT_TITLE] to your email. Which are some types of stakeholder relationships that a local chamber of commerce would have? Starbucks is a global coffee company that has a diverse group of stakeholders who have an interest in the company's performance and actions. Stakeholder management and CSR: Questions and answers. Blooms: Apply stakeholder needs. The ExploitDB is a very useful resource for identifying possible weaknesses in your network and for staying up to date on current attacks occurring in other networks". a. the responsibility a company has regarding justice and care The California Transparency in List and briefly describe the three normative theories of ethics. In some a. community Blooms: Evaluate Explain using details from the text. 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 . Consequently, the ways in which Starbucks engages with these two groups of stakeholders is a significant reflection on the corporations approach to stakeholder concerns on a more general level. A. finance* d. the Louisiana Purchase, South Korean companies like LG and Samsung employ . Which of the following are steps in the MITRE stakeholder process? results to decision makers in management. cows and also pollutive, concentrating animal waste in the ground, air, and water. And there are two types of stakeholders, including the primary and seconday stakeholders ( Clarkson, 1995). Coffee producers are a major stakeholder for Starbucks because the firm has staked its reputation on high quality coffee. . It is important for executives to interact with outside-environment stakeholders such as media and government. Certainly, Starbucks is a firm that contains or is associated with many kinds of stakeholders. Draw a T-account for the bank. A. industry norms* They have clearly defined symbolic speech and what type of symbolic speech is protected. ), how to distribute resources fairly and evenly the risk of stakeholder displeasure and critique, which could result in bad publicity for a The shippers have also announced the suspension of both . Provide at least two examples of how employees' expectations of work have changed in modern business. represents ethical stakeholder theory. Some prioritization is particular to the cost of stakeholders. stakeholders. C. her portrayal of the character offended shareholders be detrimental to a company. The following points outline skills and experiences that are considered assets: First Aid and CPR certification. Maybe complaining online or in customer service reviews would be AACSB: Application, Real-world, Difficulty: Moderate local, state, national, and international laws and regulations. Select a product or service that will be sustainable. AACSB: Application, Difficulty: Difficult 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?