influence suppliers working conditions. this is an example of.. Sample Answer: A company needs to be aware of its stakeholders. ), religious beliefs How is Starbucks diversifying in India to fit into the local culture? Supply Chains Act also implicates the welfare of stakeholders. Blooms: Remember 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 . safeguard properties lawsuit 2017; syl johnson chad ochocinco father Environmentalists raise the issue of species and Which of the following sources of ethical guidance for businesses includes criminal penalties? 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. AACSB: Ethics, Application, Difficulty: Moderate protect than a trademark or patent. stakeholders. On the contrary, CSR is the practice by which a company or business views itself within a broader context. f(x)=x48x2+16f(x)=x^{4}-8x^{2}+16 ParvalueCost$1,000$930Couponinterestrate6%Yearstomaturity10Taxbracket20%. 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. Blooms: Remember Operations Management questions and answers. Starbucks has, at times, been accused of racial discrimination as well as transgender discrimination. AACSB: Ethics, Application. 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 B. marketing* stakeholder needs. Mansell, S. (2013). Answer: False. In the end, it means being responsible to our stakeholders. UmweltWirtschaftsForum, 21(1), 59. d. public policy, which of the following examples best demonstrate the burden of the social contract that companies have with stakeholders? List and briefly describe the three normative theories of ethics. What are some examples of how companies take into account the welfare of stakeholders? Freeman, R. E. & Moutchnik, A. 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. Explain how the "triple bottom line" goes beyond the traditional goal of shareholder profit. d. business values, which of the following definitions best describes consumerism? Maybe complaining online or in customer service reviews would be Which of the following is an example of an external stakeholder of an organization? (Select all that apply.) Consumer responsibility is diminished if advertising is directed toward children. Which of the following is true of Court decisions concerning symbolic speech? Protected classes are created by both federal and state law. Managing and executing the strategy of a company From the beginning, Starbucks set out to be a different kind of company. B. entities and people with one role at one time to care for a business, What do peers and competitors as normative stakeholders influence? d. mercantilism, which of the following definitions best describe moral agency? There are dedicated sites In several sentences, describe one ethical issue related to the "access economy". Blooms: Analyze Financial Analysis of PUMA and Nike, Inc. Starbucks Stakeholders: Employees and Customers. (Select all that apply.) 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? Summary Of Experience Applying the big box store example from the chapter, which conflicts demonstrate that stakeholder claims vary? Which of the following is especially important for developing and maintaining employee loyalty to the brand? Enacted in 1966, which of the following laws is the most important U.S. law forbidding cruelty to animals in laboratory settings? Pellentesque dapibus efficitur laoreet. 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 . Home4Dance Huddersfield, England, United Kingdom3 weeks agoBe among the first 25 applicantsSee who Home4Dance has hired for this roleNo longer accepting applications. Decaf Coffee Market Size is projected to Reach Multimillion USD by 2028, In comparison to 2023, at unexpected CAGR . a. courage, decorum, and accountability Which of the following does Starbucks consider to be a strong asset that helps it build its revenue gains? (Select all that apply. a. an enumerated power listed in the constitution in the Bill of Rights Which of the following statements does not depict deontology? a. consumerism 52,000 workers in the US and many US companies now manufacture their products abroad. B. shareholders AACSB: Application, Difficulty: Difficult Sample Answer: Customers are articulate about their views of a company. The principles of stakeholder ethics overlap with the parallel principles of corporate social responsibility. Our responsibility starts with being accountable to Starbucks stakeholdersour partners, customers, shareholders, suppliers, community members and othersand communicating openly about our business practices and performance. 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. All stakeholders must be treated the same. making sure the stores employees and the company policies were sensitive toward identifying Berrett-Koehler Publishers. 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. * Starbucks CEO Kevin Johnson earned a $1.86 million bonus in fiscal year 2020 in addition to a larger retention award, designed to. c. environmental tax 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. \end{array} (Select all that apply.) How are Ben & Jerrys and Coca-Cola respective examples of greenwashing? The number of defectives in each sample is listed in time order in the table that follows. Sample Answer: In May 2018, Starbucks closed its stores after an incident in which two African 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? ventana canyon golf membership fees; what ships are in port at norfolk naval base? Blooms: Apply What has unfolded at Starbucks is anything but. Aristotle believes that prudence plays the major role because it helps individuals avoid excess and deficiency. 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? To achieve a greater degree of diversity in the workplace, managers' goals should encompass which of the following? (Select all that apply. A diverse workforce yields many positive outcomes for a company. AACSB: Reflection, Application, Difficulty: Difficult C. Stakeholder perceptions have a large impact on success. It is in a business's best interest to promote human flourishing within the organization by providing ________. Which of the following are Starbucks' stakeholders? b. carbon tax a. community What is a "pay-to-pollute" system that charges a fee or tax to those who discharge carbon into the air? From just a narrow storefront, Starbucks offered some of the world's finest fresh-roasted whole bean coffees. The coffeehouse company must strengthen its competitive advantages accordingly. 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). Which of the following entrepreneurs is known for having an easygoing personality? operations (CAFO). A firm's vision is the foundation for its mission. Copyright 2023 StudeerSnel B.V., Keizersgracht 424, 1016 GC Amsterdam, KVK: 56829787, BTW: NL852321363B01, Chapter 3: Defining and Prioritizing Stakeholde, A. minority- and women-owned small business owners*, A. c. a business owner's protection against loss of personal assets Which of the following are Starbucks' stakeholders? Nam risus ante, dapibus a molestie consequat, ultrices ac magna. 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? I think of it like renting things temporarily rather than selling them permanently. Consumer feedback on social media sites does not affect a company's prospects or status as ethical. D. dining/food service, Which of the following are stakeholders? A. milk producers* B. urban and suburban communities* C. coffee and tea growers* D. plastic-cover manufacturers a. Samsung's washers had a spin-cycle problem in 2017 ), Local governments are seeking to institute tax advantages to attract business competition. 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. a. humanity in ethics b. he acknowledged that business was important in nurturing and preserving democracy in Athens. the risk of stakeholder displeasure and critique, which could result in bad publicity for a In China, Ikea allows its visitors to take naps on 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 Explain how owners benefit from doing business as a corporate entity. 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. Which of the following is not a belief that businesses hold? Bonus Eligible : Yes. Starbucks that would result in change to the issue of racism in America. urban and suburban communities AACSB: Analytical, Difficulty: Moderate AACSB: Application, Ethics, Difficulty: Moderate Difficulty: Difficult The environment is not considered a stakeholder. The emphasis was on What is the responsibility of the producer and the consumer? Here is a list of some of the most common external stakeholders your organization may work with: Customers Communities is corporate opportunism and the possibility that committed stakeholders are exploited. A. chief legal officer 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. a. the "purchase" of Manhattan D. Car manufacturers need to be quicker to the market. List and briefly describe the two types of virtues identified by Aristotle. Which of the following are well-documented outcomes? b. courage, honor, and loyalty Which of the following are considered intellectual virtues? c. They have extended protections to only some forms of symbolic speech. AACSB: Application, Difficulty: Easy The main difference between a bribe and a gift is intent. Today, with over 32,000 stores around the globe, the company is the premier roaster and retailer of specialty coffee in the world. stresses that a company must sustain trust with stakeholders. How has Starbucks used technology to improve its products? Acculturation refers specifically to the cultural transmission and socialization process that stems from cultural exchange. The name, inspired by Moby Dick, evoked the romance of the high seas and the seafaring tradition of the early coffee traders. It must determine which are AACSB: Application, Real-world, Difficulty: Moderate Nam lacinia pulvinar tortor nec facilisis. \end{array} a positive bottom line. local, state, national, and international laws and regulations. Sample Answer: Lynn Stout believed that shareholders do not necessarily behave as a class. The firm issued $3 billion in bonds, taking advantage of the. Also, a bribery is very unethical and can look bad for the business. C. Gather and analyze appropriate data. Starbucks is a global coffee company that has a diverse group of stakeholders who have an interest in the company's performance and actions. Among the most important stakeholders with regard to Starbucks are the company's employees, customers, suppliers, investors, government, and the environment. Which of the following are Starbucks' stakeholders? American men were arrested while waiting for a friend at a Starbucks. Each employee prides in working in an organization that acknowledges his efforts. Having theoretical approaches to stakeholders highlights While there are many disadvantages of job-sharing including need for additional supervisory time, possible disruption of work flow, scheduling challenges for training and meeting, but the worst one in my opinion is communication. ), Explore over 16 million step-by-step answers from our library, icitur laoreet. Another concern that has been raised by Starbucks employees involves the issue of job security and insecurity of hours. D. chief privacy officer, In which functional areas of business does the CEO hire management? Blooms: Remember 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 . Answer: False, True or false? A company must identify and So many customers now . Blooms: Apply They can be found working as baristas, store managers, or regional executives. a. pollution tax Many people now a days are very open-minded and whether you like it or not, it is just the reality of todays society. good for business and the right thing to do from an ethical standpoint. Which of the following does Starbucks consider to be a strong asset that helps it build its revenue gains? We will send [DOCUMENT_TITLE] to your email. business and sustainability strategies. What is the projected market size and growth rate of the Decaf Coffee Market? 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. Capitalism, corporations and the social contract: A critique of stakeholder theory. A. finance* represents ethical stakeholder theory. The California Transparency in Those men later settled The most immediately visible and representative employees of Starbucks are the individuals that engage as servers in Starbucks stores. A company's Board of Directors is responsible for guiding CEO succession, which should be a well-planned event. This file is copyright 2019, Rice University. AACSB: Analytical. Blooms: Remember ), positive customer experiences Additionally, Starbucks has also provided educational assistance to select employees by means of academic scholarships. There are may benefits owners receive from doing business as a corporate entity like Limited Liability, Perpetual Existence, Control, along with many others. Summarize the ethical debate of whether corporations owe a duty to society or only to their owners. consciousness and product mission, is now owned by an international conglomerate, Unilever. and China, for example, by adapting to local cultural norms. which of the following is the best description for what it means to be a professional of integrity? which are the universal principles of behavior? Ben & Jerrys, an ice cream company known for its founders social Furthermore, there is Starbucks set out on its current course in the 1980s . such as Yelp where customers share their good and bad experiences. These stakeholders include shareholders, employees, customers, suppliers, communities, and governments. This is a lofty goal, especially given Coke products are discrepancy is stark. A trade secret is a form of intellectual property protection and is easier to 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. (Select all that apply.) consumed by 20% of the worlds population. Consumers support big box stores that offer quality goods and reasonable prices, Which of the following are Starbucks' stakeholders? Partners with stakeholders and business hiring managers to ensure that the project has the skillsets and resources required for delivery. U.S. firms and their employees are allowed to use bribery in other countries if allowed by local legal and cultural differences. Solicit, evaluate and apply suggestions for improving efficiency and cost effectiveness. Misunderstanding and lack of communication tend to happen even more. c. customers are considered high-priority stakeholders Today, Starbucks hosted its 30 th annual meeting of shareholders virtually. C. her portrayal of the character offended shareholders AACSB: Application, Analytical, Difficulty: Moderate Describe at least two ethical duties an employer owes to their employees. Employees are dissatisfied with the trust they receive from management and are seeking "representation" through unions. Customer relations are also an essential component of the business model that has been developed by Starbucks. c. methodology for arriving at the truth STEP 1: DEFINE STAKEHOLDER ENGAGEMENT Discuss the meaning of stakeholder engagement. Difficulty: Moderate The Occupational Safety and Health Administration (OSHA)a business' mission to prevent work-related injuries, illnesses and deaths under the Department of Labor. that uses billions of liters of water in a community where many people are without water. Lorem ipsum dolor sit amet, consectetur adipiscing elit. have? "Business and trade" is defined as the exchange of goods and services in a dedicated market for the purpose of commerce and creating value for its owners and investors. welfare for two reasons: It is good for business and the right thing to do. (Starbucks does not follow the traditional franchising terms.) Identify and describe two factors that determine the ethics of "gift-giving" as opposed to bribery. c. Samsung assumed the risk of exposure and picked up the washers 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. Blooms: Understand (promenades; tarries). AACSB: Ethics, Difficulty: Easy Pinched supply chains, the decimation caused by COVID, heightened tensions and political unrest, a racial reckoning and a rising generation which seeks a new accountability for business. c. Compute and plot the A, B, and C zone boundaries on the p-chart. Intellectual- includes knowledge, wisdom, and prudence (the most important one). D. Evaluating the salary and benefits of senior management*, Which employee typically reports directly to a board of directors? chief executive officer. Also, Starbucks faced the challenge of technology. Among the most important stakeholders with regard to Starbucks are the companys employees, customers, suppliers, investors, government, and the environment. 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. Defectives16149111581216171315109121411871215916131110\begin{aligned} essence of Stouts view is concern that shareholders may want to maximize their investment at Blooms: Apply changes. a. the responsibility a company has regarding justice and care (Select all that apply.) Stakeholders: Essentially contested or just confused? Explain how Ikea has had to adapt its business model in different countries. Identify and describe two challenges an employer may face in providing reasonable accommodations under the ADA for employees.
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