Summary. C. legislatures 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. Among the most important stakeholders with regard to Starbucks are the companys employees, customers, suppliers, investors, government, and the environment. have? the belief that business is not culturally neutral. B. occurs during the monthly vulnerability scanning. Donec aliquet. which are the universal principles of behavior? The name, inspired by Moby Dick, evoked the romance of the high seas and the seafaring tradition of the early coffee traders. Which of the following is true of Court decisions concerning symbolic speech? His expertise also extends to areas such as leadership, corporate responsibility and business strategy. A trade secret is a form of intellectual property protection and is easier to The Starbucks franchises in New Zealand have also been accused of underpaying their younger workers. Car design should focus on being competitive on the road. such as Yelp where customers share their good and bad experiences. The Many baristas have eventually become managers and worked their way up into higher positions within management (Mitchell, Agle, & Wood, 1997). 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. and avoiding bias. AACSB: Analytical, Difficulty: Moderate An ethical financial advisor must ________. Which of the following are considered intellectual virtues? In other words, enculturation is taking control over one's own culture, whereas acculturation is the merge of two cultures. c. he believed one secures one's own good outside of political science Which of the following are well-documented outcomes? Employees are dissatisfied with the trust they receive from management and are seeking "representation" through unions. pilgrimages in response to passenger stakeholder interests in making such trips. In Richard DeGeorge's humanities model, business ethics would prepare students to do certain specific things. A. entities and people invested and influential in the success of an organization* In the most generic form of stakeholder groups, Starbucks has an effect on its Employees, Customers, Community, Suppliers, Shareholders, Government, and Competitors. 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Defining a companys ongoing mission* It is important to focus on employees and customers when considering the ways in which Starbucks is impacted by the principles of stakeholder ethics. insufficient. Malaysian Airlines is another example of a company responsive to the stakeholder process. (Select all that apply. the risk of stakeholder displeasure and critique, which could result in bad publicity for a Which commercial transaction in the New World exemplifies the complexity that results when different cultures, experiences, and ethical codes come into contact? a. promising to earn less profit per share Blooms: Remember a positive bottom line. Maintain strategic stakeholder engagement by working alongside fellow Project Delivery teams, Senior Management and your customers delivery lead/function to identify strategic issues; Oversee the quality assurance of estimates or model within the function to ensure they are fit for purpose 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? It is the decision a person we chooses to be through the development of habits and the routine actions in which we choose to engage. 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. Difficulty: Difficult 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. No one is born with culture; all humans have to learn what is considered appropriate behavior in their surrounding cultures. 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. In addition with many other laws, current employees are not to work for competitors or set up competing companies that divert potential clients and opportunities. b. set of cultural norms a. implementation of values Pellentesque dapibus efficitur laoreet. Each employee prides in working in an organization that acknowledges his efforts. As for ethical duties, they are standards based on human principles of right from wrong. It is insufficient to have a mission statement, language on a website, or local, state, national, and international laws and regulations. (Select all that apply.) &\begin{array}{ccccccccccccc} 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 Defectives16121414911118157812121516917161313151110109. protect than a trademark or patent. and China, for example, by adapting to local cultural norms. One big issue access economy has is lack of regulations, especially when it comes to overseeing the products and services exchanged during the transaction. 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. Employees and customers are the two most visible manifestations of the activities of Starbucks and certainly the most visible stakeholders (Mansell, 2013). This 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. 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". c. Compute and plot the A, B, and C zone boundaries on the p-chart. However, Starbucks has also been criticized for its labor relations as well. Find the absolute maximum and minimum, if either exists, for each function on the indicated intervals. (promenades; tarries). operations (CAFO). Answer: False. The environment is not considered a stakeholder. As Starbucks, we can either choose to rise to this moment or stand idle. In China, Ikea allows its visitors to take naps on 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 __ A program where students work on campus to earn money. The coffeehouse company must strengthen its competitive advantages accordingly. a. U.S. jurisprudence How is Starbucks diversifying in India to fit into the local culture? Before-tax cost of debt and after-tax cost of debt: David Abbot is considering purchasing a Sony bond. c. the freedom and ability to make choices based on one's perception of right and wrong c. marketing There are may benefits owners receive from doing business as a corporate entity like Limited Liability, Perpetual Existence, Control, along with many others. Download Assets. In the early 21st century, a slow but gradual change has taken place in the corporate world concerning questions of business ethics. 16 & 14 & 9 & 11 & 15 & 8 & 12 & 16 & 17 & 13 & 15 & 10 & 9 \\ d. committing to have 50% of board seats help by women or minorities, actions a firm undertakes to satisfy the base threshold for acting ethically, how is the concept of corporate personhood defined? It is important to focus on employees and customers when considering the ways in which Starbucks is impacted by the principles of stakeholder ethics. 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). a. the lifestyle characterized by the acquisition of goods and services want companies to treat stakeholders well to encourage customer and employee loyalty. Blooms: Analyze, Evaluate A company's Board of Directors is responsible for guiding CEO succession, which should be a well-planned event. Misunderstanding and lack of communication tend to happen even more. Draw a T-account for the bank. be detrimental to a company. Consumer feedback on social media sites does not affect a company's prospects or status as ethical. Which of the following is a resource made available to employees, in addition to salary? Operations Management questions and answers. 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. 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. It is important for executives to interact with outside-environment stakeholders such as media and government. Which of the following are Starbucks' key stakeholders? The entitlement of the environment to legal status is a long-argued consciousness and product mission, is now owned by an international conglomerate, Unilever. Which of the following are Starbucks' stakeholders? c. the Dakota land trade b. Samsung's warned customers that the machines could tip over 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. Starbucks then took the step to close its thousands of US stores to conduct racial bias 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? Starbucks is opening small cafes half the size of existing cafes. ), religious beliefs This is viewed Academy of Management Review, 22(4), 853886. This incident caused a global STEP 1: DEFINE STAKEHOLDER ENGAGEMENT Discuss the meaning of stakeholder engagement. C. It is ineffective because it uses consumer stakeholders to pressure suppliers and make Today, with over 32,000 stores around the globe, the company is the premier roaster and retailer of specialty coffee in the world. Solicit, evaluate and apply suggestions for improving efficiency and cost effectiveness. D. rules*, What was the reason for Scarlett Johanssons withdrawal from a recent movie? Applying the big box store example from the chapter, which conflicts demonstrate that stakeholder claims vary? B. local and regional governments* the cost of stakeholders. The most immediately visible and representative employees of Starbucks are the individuals that engage as servers in Starbucks stores. which of the following most likely contributes to a corporation's positive work atmosphere over the long term? Employee diversity in the workplaces can enhance performance and drive innovation. If you feel harassed, prejudiced against, or disadvantaged in your workplace, you may file a complaint with the ________. This button displays the currently selected search type. Nam risus ante, dapibus a molestie consequat, ultrices ac magna. (Select all that apply.) Ethical standards do not remain the same; they convert in response to evolving situations. U.S. firms and their employees are allowed to use bribery in other countries if allowed by local legal and cultural differences. D. dining/food service, Which of the following are stakeholders? Starbucks operates in more than 80 markets, either in the form of direct company-owned stores or licensed stores. Utilitarianism (the first normative approach to)- an ethical action is one whose consequence achieves the greatest good for the greatest number of people. Organizational responsibility statements are usually straightforward: They say comply with the applicable ________. Communities and institutional investors seem unhappy with the ethical posture of the company . reidentify stakeholders. One that not only. For Starbucks, its major stakeholders include employees, customers, suppliers and stockholders. A normative approach views stakeholders as ends in themselves rather new CEO with a tourism background. EEOC (Equal Employment Opportunity Commission)Employees are legally protected from employment discrimination on the basis of that characteristic. (A)[1,3](B)[0,2](C)[3,4]. D. compensation. C. environmental agencies What is a measure that accounts for an organization's results in terms of its effects on profits, planet, and people? Speaking at the annual shareholders meeting in . Answer: True, True or false? The Occupational Safety and Health Administration (OSHA)a business' mission to prevent work-related injuries, illnesses and deaths under the Department of Labor. AACSB: Application, Ethics, Difficulty: Moderate 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 a. pollution tax Develop or acquire assets and skills needed to implement the strategy. welfare for two reasons: It is good for business and the right thing to do. 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. Difficulty: Moderate Many people now a days are very open-minded and whether you like it or not, it is just the reality of todays society. including surveys or social media, for example. (Starbucks does not follow the traditional franchising terms.) good for business and the right thing to do from an ethical standpoint. 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? b. Humongous Bank is required to hold 5% of its existing$20 million as reserves, and to loan out the rest. c. actions a firm undertakes to satisfy the base threshold for acting ethically Starbucks Stakeholder Analysis. gender (2013). Blooms: Remember 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. Q: Corporate-level strategy is best described as: a. strategies firms implement to gain a competitive advantage by selectin. B. 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 . P3-1. One way to address the issue of shared responsibility between corporations and society is the implementation of a(n) ________. I think of it like renting things temporarily rather than selling them permanently. 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. being committed to ethical business practices. How can entrepreneurs best ensure their customer-service vision is passed on to employees? The following is a guide to engaging successfully with stakeholder groups. Fusce dui lectus, congue vel laoreet ac, dictum vitae odio. ), True or false? Additionally, the company maintains a range of opportunities for internal promotion. 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. Fusce dui lectus, congue vel laoreet ac, dictum vitae odio. Blooms: Understand, Apply 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. 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; Which of the following is not considered a stakeholder? b. the Dutch and Native American trade We will send [DOCUMENT_TITLE] to your email. Sample Answer: MITRE is a five-step guide to stakeholder assessment and management. According to the I/O Model of Above-Average Returns, which of the following steps should Starbucks complete immediately before implementing a strategy? Which of the following is not an example of a diffused shareholder? Starbucks primary stakeholders are their employees, customers, shareholders, investors, suppliers, coffee farmers, local communities, and other business partners. In a perpetual existence, when a sole proprietor or partner dies, the assets may go to the heirs, but the business no longer exists. b. carbon tax If those entrepreneurs have good morals, it will come natural and it will show. Select the best answer. If Starbucks follows a strategy of competing in more than one business product, which of the following goals could it accomplish? Many people in the UK will have a product from Thornton & Ross somewhere at home. OSX Ethics TB Ch03 Defining And Prioritizing Stakeholders, Chapter 3: Defining and Prioritizing Stakeholders, Difficulty: Easy In 1981, Howard Schultz (Starbucks chairman and chief executive officer) had first walked into a Starbucks . Enacted in 1966, which of the following laws is the most important U.S. law forbidding cruelty to animals in laboratory settings? AACSB: Ethics, Difficulty: Easy D. Evaluating the salary and benefits of senior management*, Which employee typically reports directly to a board of directors? 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 a. Samsung's washers had a spin-cycle problem in 2017 Starbucks is a global coffee company that has a diverse group of stakeholders who have an interest in the company's performance and actions. 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. How does a corporation prioritize stakeholder claims? c. Citizens United D. Car manufacturers need to be quicker to the market. Freeman, R. E. & Moutchnik, A. Applicants must submit a complete application to receive an interview. changes. A. finance* B. entities and people with one role at one time to care for a business, What do peers and competitors as normative stakeholders influence? A firm's vision is the foundation for its mission. What has unfolded at Starbucks is anything but. 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 baristas are paid above the minimum wage, even at the entry-level position. There is a growing recognition of the need for corporate accountability. 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. simply advertising. Quality Glossary Definition: Stakeholder. (Select all that apply. stakeholders that their concern was taken into consideration and will continue to be valued. b. competitors ventana canyon golf membership fees; what ships are in port at norfolk naval base? Which of the following laws ensures that employers provide a workplace environment free of risk to employees' safety and health? Starbucks that would result in change to the issue of racism in America. 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 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. * What are some examples of how companies take into account the welfare of stakeholders? d. public policy, which of the following examples best demonstrate the burden of the social contract that companies have with stakeholders? (a) What is Friar Lawrence's plan for Juliet? Another concern that has been raised by Starbucks employees involves the issue of job security and insecurity of hours. a. Humongous Bank decides on a policy of holding 100% reserves. mysterious plane crashes, the Malaysian government (a stakeholder) and private investors hired a Acculturation refers specifically to the cultural transmission and socialization process that stems from cultural exchange. 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? Which of the following actions are needed to implement Howard Schulz's strategy of putting Starbucks' innovation on display? Blooms: Apply Which are some types of stakeholder relationships that a local chamber of commerce would have? beds to show customers the available bed sizes. than as a means to achieve better financial results. UmweltWirtschaftsForum, 21(1), 59. About Starbucks, the main challenges related to economic, social, and technological factors. Donec aliquet. Employees Which of the following describes the relationship, if any, between the vision and the mission for a company such as Starbucks? (Select all that apply.) Blooms: Analyze The normative approach most appropriately Answered over 90d ago. It is not necessary to conduct extensive market research. Sample Answer: A company needs to be aware of its stakeholders. inauthentic in carrying out corporate social responsibility when the company already has C. her portrayal of the character offended shareholders 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). And there are two types of stakeholders, including the primary and seconday stakeholders ( Clarkson, 1995). a. he viewed those outside economic and political circles as virtuous 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. discrepancy is stark. These are standard stakeholders of almost every business that operates in the United States or overseas. 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. Explain Lynn Stouts view of the role of shareholders and the implication for stakeholder The enhanced training set a standard for other companies that serve the public. essence of Stouts view is concern that shareholders may want to maximize their investment at A. milk producers* The crash caused$1,600 in damages to his car. nature as stakeholders. It is ineffective because it only requires disclosure of information about suppliers' working conditions and does not govern those suppliers. Explain the difference between the legal and ethical duties of a corporation. Starbucks has, at times, been accused of racial discrimination as well as transgender discrimination. 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. Difficulty: Difficult Which of the following is changing the environment in which many of the world's industries compete? b. business should have ethically, focusing exclusively on shareholders/investors. a. business should behave ethically, focusing only on environmentalism Customers still enjoy the product and yet competition is growing. Blooms: Remember 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 c. coffee and tea growers Consumer responsibility is diminished if advertising is directed toward children. Internal stakeholder In this part Internal stakeholders mean the hotel staff, as well as . a. high-level manners a. consumerism AACSB: Real-world, Difficulty: Moderate Coffee and tea growers are Starbucks ' main stakeholders who supply the needed raw materials. Blooms: Apply The California Transparency in Customer relations are also an essential component of the business model that has been developed by Starbucks. a. leads people to treat others as a means to an end a. community Which of the following definitions best describes mercantilism? he acknowledged that business was important in nurturing and preserving democracy in Athens.