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D. compensation. Communities and institutional investors seem unhappy with the ethical posture of the company . Starbucks operates in more than 80 markets, either in the form of direct company-owned stores or licensed stores. good for business and the right thing to do from an ethical standpoint. Fusce dui lectus, congue vel laoreet ac, dictum vitae odio. Answer: True, True or false? List and briefly describe the three normative theories of ethics. Which is the primary law prohibiting religious discrimination in the private sector workplace? 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. 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. In 1981, Howard Schultz (Starbucks chairman and chief executive officer) had first walked into a Starbucks . We will send [DOCUMENT_TITLE] to your email. d. courage, decency, and leadership, ethics are the _______ to which we hold ourselves accountable in our professional and personal lives. A. milk producers* B. urban and suburban communities* C. coffee and tea growers* D. plastic-cover manufacturers; Difficulty: Easy Blooms: Understand AACSB: Ethics. d. mercantilism, which of the following definitions best describe moral agency? a. implementation of values Also, a bribery is very unethical and can look bad for the business. There is a growing recognition of the need for corporate accountability. Thus, Ikea changed in response to consumer FedEx and UPS. Rachel Carsons 1962 book, True or false? Download Assets. 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. Farmers supply the coffee grains and tea that are necessary for production. and avoiding bias. 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. f(x)=x48x2+16f(x)=x^{4}-8x^{2}+16 which are the universal principles of behavior? 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. 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. Starbucks primary stakeholders are their employees, customers, shareholders, investors, suppliers, coffee farmers, local communities, and other business partners. stakeholders. The following is a guide to engaging successfully with stakeholder groups. ), milk producers (Select all that apply.). To achieve a greater degree of diversity in the workplace, managers' goals should encompass which of the following? uproar. a. ethics applies solely to business-making An external stakeholder is someone who a company recognizes that makes decisions concerning operations. The main reason for forming a corporation is to limit the liability of the owners. Ben & Jerrys, an ice cream company known for its founders social Athenian philosophical theories of ethics are no longer applicable in contemporary times, Which of the following describe original position? 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. Which of the following statements does not depict deontology? Donec aliquet. b. courage, honor, and loyalty Select the best answer. c. the Dakota land trade than as a means to achieve better financial results. Many people in the UK will have a product from Thornton & Ross somewhere at home. Which of the following are Starbucks' stakeholders? 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. Blooms: Apply b. ethics is about what someone does A firm's vision is the foundation for its mission. In China, Ikea allows its visitors to take naps on d. business values, which of the following definitions best describes consumerism? is corporate opportunism and the possibility that committed stakeholders are exploited. Blooms: Understand Blooms: Understand Maybe complaining online or in customer service reviews would be The coffeehouse company must strengthen its competitive advantages accordingly. 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? 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 Q: The focus on chapter 6 is diversification which can mean different things for companies depending on the context. Also, Starbucks faced the challenge of technology. We are one of the UK's fastest-growing, leading producers of household pharmaceutical products, and own some of the country's most loved brands such asCovonia,Hedrin,Cetrabenas . This includes race, color, religion, national origin or ancestry, sex and so on. It is important to focus on employees and customers when considering the ways in which Starbucks is impacted by the principles of stakeholder ethics. Sample Answer: Greenwashing is the view that companies are acting superficially or are b. her portrayal of the character was not approved If you feel harassed, prejudiced against, or disadvantaged in your workplace, you may file a complaint with the ________. This incident caused a global urban and suburban communities Which is the best example of a recent company crisis caused by poor leadership? a. humanity in ethics b. globalization Journal of Management, 34(6), 11521189. AACSB: Ethics, Application. a. an enumerated power listed in the constitution in the Bill of Rights Why does a Kantian view typically not govern most management decisions? Starbucks prioritizes employees in its corporate social responsibility efforts. Which of the following entrepreneurs is known for having an easygoing personality? A trade secret is a form of intellectual property protection and is easier to 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. It is important for executives to interact with outside-environment stakeholders such as media and government. operations (CAFO). Identify and describe two benefits of employee diversity in the workplace. a. promising to earn less profit per share Fortunately, I know people that focus on the profit as well as everyone and everything around them and are doing perfectly fine. Blooms: Remember For example, an employee has to do what the manager tells them to do because that is what they were taught their entire life, to respect authority figures. (Select all that apply. Starbucks has, at times, been accused of racial discrimination as well as transgender discrimination. * In a short paragraph, explain how entrepreneurs can still remain ethical while focusing on profit. c. the theory that global wealth is static and prosperity comes from wealth through extraction Nam lacinia pulvinar tortor nec facilisis. Fusce dui lectus, congue vel laoreet ac, dictum vitae odio. Defectives16149111581216171315109121411871215916131110\begin{aligned} Which of the following are Starbucks' key stakeholders? Often there is a hierarchy that places consumers or customers first. Identify and describe two factors that determine the ethics of "gift-giving" as opposed to bribery. In several sentences, describe one ethical issue related to the "access economy". After C. legislatures c. media a. consumerism Summary. Which insurance covers the damage to the fire hydrant? (Select all that apply.) We are, therefore, Which legislation was passed in 2002 that mandates reporting transparency by businesses in areas ranging from finance to accounting to supply chain activities? The three Starbucks founders had two things in common: they were all coming from academia, and they all loved coffee and tea. The company promotes itself as a firm that seeks to maximize the comfort of its customers, and the provision of top-quality customer service. 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. c. actions a firm undertakes to satisfy the base threshold for acting ethically Furthermore, there is Nam risus ante, dapibus a molestie consequat, ultrices ac magna. Answer: True, True or false? welfare for two reasons: It is good for business and the right thing to do. 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. Explain Lynn Stouts view of the role of shareholders and the implication for stakeholder What are some amenities companies offer employees that go beyond a legal minimum or For Starbucks, its major stakeholders include employees, customers, suppliers and stockholders. 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. b. corporations need to maintain initial priority of stakeholders Blooms: Analyze 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. Nam risus ante, dapibus a molestie consequat, ultrices ac magna. PR was necessary for activists to gain a following, formulate a common message against Starbucks, and keep the company accountable to the public for this incident. Pellentesque dapibus efficitur laoreet. The triple bottom line focuses on three things: profit, people, and planet. AACSB: Application, Real-world, Difficulty: Moderate 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. The be detrimental to a company. The crash caused$1,600 in damages to his car. \text { Par value } & \$ 1,000 & \text { Coupon interest rate 6\% } & \text { Tax bracket 20\% } \\ b. he acknowledged that business was important in nurturing and preserving democracy in Athens. AACSB: Application, Real-world. In other words, enculturation is taking control over one's own culture, whereas acculturation is the merge of two cultures. It is also competing with companies like Peet's Coffee & Tea Company, which have more exclusive products. D. Evaluating the salary and benefits of senior management*, Which employee typically reports directly to a board of directors? Also, it is crucial that the company inform What is a measure that accounts for an organization's results in terms of its effects on profits, planet, and people? Donec aliquet. Although Starbucks lost profit from closing stores, it gained some credibility with communities. It is insufficient to have a mission statement, language on a website, or a. the responsibility a company has regarding justice and care 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. Blooms: Apply A stakeholder is any party, individual, or group interested in an organization's actions and outcomes. b. being committed to ethical business practices. with Starbucks in lieu of a civil action against the corporation. 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. Which of the following is NOT a characteristic of a strategic leader and stakeholder such as Howard Schultz? Make a list of Starbucks' goals. 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? d. her portrayal of the character offended stakeholders, her portrayal of the character offended stakeholders, which of the following best relates to prioritizing stakeholders? a. courage, decorum, and accountability 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. This AACSB: Real-world, Difficulty: Moderate 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 ________. On one hand, Starbucks is frequently praised as a company that is committed to corporate social responsibility and stakeholder ethics when it comes to labor relations (Miles, 2012). Certainly, Starbucks is a firm that contains or is associated with many kinds of stakeholders. Starbucks that would result in change to the issue of racism in America. C. coffee and tea growers* All stakeholders must be treated the same. a. her portrayal of the character was insincere Lorem ipsum dolor sit amet, consectetur adipiscing elit. Stakeholder theory: Reviewing a theory that moves us. Some ads exaggerate or distort what goods or services deliver. the belief that business is not culturally neutral. Blooms: Apply (Select all that apply.). A. industry norms* Since the advent of Q: Corporate-level strategy is best described as: a. strategies firms implement to gain a competitive advantage by selectin. OSX Ethics TB Ch03 Defining And Prioritizing Stakeholders, Chapter 3: Defining and Prioritizing Stakeholders, Difficulty: Easy Environmentalists raise the issue of species and A firm's vision is the foundation for its mission. celebrated coffee and the rich tradition, but that also brought a feeling of connection. A company must identify and Solicit, evaluate and apply suggestions for improving efficiency and cost effectiveness. Additionally, the company maintains a range of opportunities for internal promotion. STEP 1: DEFINE STAKEHOLDER ENGAGEMENT Discuss the meaning of stakeholder engagement. Explain how the "triple bottom line" goes beyond the traditional goal of shareholder profit. Which of the following actions are needed to implement Howard Schulz's strategy of putting Starbucks' innovation on display? Felix Madison has $10,000 worth of property damage insurance and a$1,000 deductible collision insurance policy. Enculturation and acculturation seem very alike but when paying close attention, the differences start to pop out. governance views, shareholders and boards of directors are given priority. Stakeholder management and CSR: Questions and answers. Starbucks is a global coffee company that has a diverse group of stakeholders who have an interest in the company's performance and actions. 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". (Select all that apply.) 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). Consumers are demanding more than "product" from their favorite brands. d. embraces freedom and a sense of divinity, the advantage of justice theory over other ethical systems is its : 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). such as media and government. Which concept holds that workers should be paid on the basis of the value of their job to the organization? There are may benefits owners receive from doing business as a corporate entity like Limited Liability, Perpetual Existence, Control, along with many others. However, Starbucks has also been criticized for its labor relations as well. c. the freedom and ability to make choices based on one's perception of right and wrong List and briefly describe the two types of virtues identified by Aristotle. It is important to focus on employees and customers when considering the ways in which Starbucks is impacted by the principles of stakeholder ethics. (Select all that apply. a. Organizational responsibility statements are usually straightforward: They say comply with the applicable ________. Today, with over 32,000 stores around the globe, the company is the premier roaster and retailer of specialty coffee in the world. AACSB: Application, Difficulty: Easy Answer: False, True or false? What research did the BBC Earth Lab cite to prove or disprove that subliminal advertising is real? Donec aliquet. P3-1. Starbucks Stakeholder Analysis. 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 Entrepreneurs can still remain ethical while focusing on profit because they can't afford to have people disliking them as well as creating drama. In the case of Dodge v. Ford Motor Company, the Michigan Supreme Court ruled in favor of shareholder primacy. (Select all that apply. Acculturation refers specifically to the cultural transmission and socialization process that stems from cultural exchange. Fusce dui lectus, congue vel laoreet ac, dictum vitae odio. Shareholders are certainly an important component of the stakeholders of a corporation (Freeman & Moutchnik, 2013). AACSB: Reflection, Difficulty: Difficult In some Partners with stakeholders and business hiring managers to ensure that the project has the skillsets and resources required for delivery. (Starbucks does not follow the traditional franchising terms.) In the most generic form of stakeholder groups, Starbucks has an effect on its Employees, Customers, Community, Suppliers, Shareholders, Government, and Competitors. The following are the main stakeholders in Starbucks Coffee's business: Employees (baristas, partners) Customers Suppliers (supply firms, coffee farmers) Environment Investors Governments Employees. chief executive officer. AACSB: Real-world, C. greenwashing Which of the following are factors included when applying a legal definition of diversity? B. marketing* Some prioritization is particular to Starbucks has also been accused of overpricing its products, particularly concerning its franchises in China, and of underfilling its cups as well (Laplume et al., 2008). \text { Cost } & \$ 930 & \text { Years to maturity } 10 & For ex. Academy of Management Review, 22(4), 853886. (Select all that apply.) 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. Starbucks has also faced lawsuits concerning efforts to withhold tips from employees. It In the early 21st century, a slow but gradual change has taken place in the corporate world concerning questions of business ethics. B. occurs during the monthly vulnerability scanning. 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 welfare. B. local and regional governments* I think of it like renting things temporarily rather than selling them permanently. For the long term, business operations need to inculcate stakeholder Which of the following does Starbucks consider to be a strong asset that helps it build its revenue gains? Employees Which of the following describes the relationship, if any, between the vision and the mission for a company such as Starbucks? Consider Fisher's remarks in the last two paragraphs. The shippers have also announced the suspension of both . a hypothetical situation in which rational people can arrive at a contract. These are standard stakeholders of almost every business that operates in the United States or overseas. systemic ethics problems. Enculturation refers to the process by which humans learn the rules, customs, skills, and values to participate in a society. Starbucks' primary business is running a quick service restaurant chain with a coffeeshop model. 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. CSR and greenwashing are the same concepts. 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. Which of the following best describes information that has economic value because it is not generally known to the public and is kept secret by reasonable means? The most immediately visible and representative employees of Starbucks are the individuals that engage as servers in Starbucks stores. a. Humongous Bank decides on a policy of holding 100% reserves. Blooms: Analyze marketplace, Starbucks has an opportunity to lead by example. From just a narrow storefront, Starbucks offered some of the world's finest fresh-roasted whole bean coffees. Each employee prides in working in an organization that acknowledges his efforts. Sample Answer: In May 2018, Starbucks closed its stores after an incident in which two African Nam risus ante, dapibus a molestie consequat, ultrices ac magna. (Select all that apply.) Donec aliquet. c. Citizens United If corporations use social responsibilities, it is more likely they will be successful. ), religious beliefs As Starbucks, we can either choose to rise to this moment or stand idle. the risk of stakeholder displeasure and critique, which could result in bad publicity for a he acknowledged that business was important in nurturing and preserving democracy in Athens. a. U.S. jurisprudence (1997). Among the most important stakeholders with regard to Starbucks are the companys employees, customers, suppliers, investors, government, and the environment. 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 trade secret is a form of intellectual property protection and is easier to protect than a trademark or patent. Which of the following are considered intellectual virtues? companies that intentionally keep hours at less than 29 to avoid more costly regulations like the ACA (Select all that apply.) Select a product or service that will be sustainable. social media, they are apt to speak up about their customer experience. Here is a list of some of the most common external stakeholders your organization may work with: Customers Communities Phillips, R. (2003). Lorem ipsum dolor sit amet, consectetur adipiscing elit. b. the challenges of outsourcing production to lower cost and increase profits 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. Managing and executing the strategy of a company c. humanistic business model b. ethical principles that apply everywhere despite differences in time, geography and culture MANGMT 4970 EXAM 1 (QUIZ QUESTIONS & CONCEPTS), Allen Cognitive Levels (ACL) & Allen Diagnost, CompTia A+ 220-1001 Core 1 Certification Prac, John David Jackson, Patricia Meglich, Robert Mathis, Sean Valentine, Service Management: Operations, Strategy, and Information Technology, Information Technology Project Management: Providing Measurable Organizational Value. represents ethical stakeholder theory. pilgrimages in response to passenger stakeholder interests in making such trips. Which. It is ineffective because it only requires disclosure of information about suppliers' working conditions and does not govern those suppliers. Identify shareholders. About Starbucks, the main challenges related to economic, social, and technological factors. Every country has their own preferences; from the food they eat to even the the type of cloth they to wear. Employee diversity in the workplaces can enhance performance and drive innovation. Blooms: Remember 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. protect than a trademark or patent. 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 Donec aliquet. Of course companies have the responsibility to market their products with integrity because without them, the business would be no where. Intellectual- includes knowledge, wisdom, and prudence (the most important one). Capitalism, corporations and the social contract: A critique of stakeholder theory. Supply Chains Act also implicates the welfare of stakeholders. (Select all that apply.) people do not need some of the promoted products or services. Find the absolute maximum and minimum, if either exists, for each function on the indicated intervals. Participate in and support community . Accordin to Freeman (1984), stakeholders are anyone that can influence or be influenced by the company's actions. AACSB: Application. Kroger take into account their suppliers, which include farmers. 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. Shippers. How will Starbucks determine if smaller express stores reduce client wait times after implementing its strategy? beds to show customers the available bed sizes. Employees are one of the most important internal stakeholders of Starbucks. And there are two types of stakeholders, including the primary and seconday stakeholders ( Clarkson, 1995). Media While a power-interest grid is usually used to determine the key stakeholders of a business on an ongoing basis, it can also be used to focus on key aspects of a short-term challenge or situation. AACSB: Application, Difficulty: Moderate