Starbucks operates in more than 80 markets, either in the form of direct company-owned stores or licensed stores. Which of the following are factors included when applying a legal definition of diversity? Speaking at the annual shareholders meeting in . Henry Ford must operate Ford Motor Company primarily to maximize profit for its shareholders. Blooms: Remember Thirty years ago, Starbucks was a single store in Seattle's Pike Place Market selling premium-roasted coffee. governance. Sample Answer: Companies must take into account the welfare of stakeholders because it is Blooms: Apply Which of the following are well-documented outcomes? A. What is the responsibility of the producer and the consumer? Consider Fisher's remarks in the last two paragraphs. Stakeholders: Essentially contested or just confused? Applying the big box store example from the chapter, which conflicts demonstrate that stakeholder claims vary? ), how to distribute resources fairly and evenly Starbucks set out on its current course in the 1980s . Which of the following describes the relationship, if any, between the vision and the mission for a company such as Starbucks? Pellentesque dapibus efficitur laoreet. What is a measure that accounts for an organization's results in terms of its effects on profits, planet, and people? In the end, it means being responsible to our stakeholders. Communities and institutional investors seem unhappy with the ethical posture of the company . d. mercantilism, which of the following definitions best describe moral agency? B. marketing* c. is an unattainable goal of perfect virtue The company has. most important, given its provision of goods and services. Journal of Management, 34(6), 11521189. Also, it is crucial that the company inform 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. which of the following most likely contributes to a corporation's positive work atmosphere over the long term? (promenades; tarries). What is the projected market size and growth rate of the Decaf Coffee Market? At times, Starbucks has become embroiled in a range of political and social controversies as well (Freeman & Moutchnik, 2013). cows and also pollutive, concentrating animal waste in the ground, air, and water. e. They have not directly addressed the matter of symbolic speech. stresses that a company must sustain trust with stakeholders. Which of the following is an example of an external stakeholder of an organization? this is an example of.. There is a growing recognition of the need for corporate accountability. Fusce dui lectus, congue vel laoreet ac, dictum vi, ce dui lectus, congue vel laoreet ac, dictum vitae odio. Which intellectual, emotional, and social human trait affects all decision-making, including ethical decisions? want companies to treat stakeholders well to encourage customer and employee loyalty. 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. Defectives16149111581216171315109121411871215916131110\begin{aligned} 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. 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. 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. 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. 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). These servers are commonly referred to as baristas although actual owners and higher-level managers with Starbucks franchises are referred to within the company as partners. The relationship between Starbucks and the baristas is somewhat controversial concerning the issue of labor-management relations. The firm issued $3 billion in bonds, taking advantage of the. Which is the primary law prohibiting religious discrimination in the private sector workplace? which are the universal principles of behavior? which are the universal principles of behavior? 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? Once data are validated, managers present the Which of the following statements does not depict deontology? Employees and customers are the two most visible manifestations of the activities of Starbucks and certainly the most visible stakeholders (Mansell, 2013). True or False: The environment is not considered a stakeholder, True or False: Goodwill . Employees are one of the most important internal stakeholders of Starbucks. Some ads exaggerate or distort what goods or services deliver. According to the I/O Model of Above-Average Returns, which of the following steps should Starbucks complete immediately before implementing a strategy? Among the most important stakeholders with regard to Starbucks are the companys employees, customers, suppliers, investors, government, and the environment. * . Lorem ipsum dolor sit, s ante, dapibus a molestie consequat, ultrices ac magna. 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. c. actions a firm undertakes to satisfy the base threshold for acting ethically Applicants must submit a complete application to receive an interview. D. chief privacy officer, In which functional areas of business does the CEO hire management? companies. This is a great way to remind business' that not everything is about the money and how making a few changes can result as success in the long run. His expertise also extends to areas such as leadership, corporate responsibility and business strategy. This includes Mexico, which has a Coca-Cola plant a. the lifestyle characterized by the acquisition of goods and services A. minority- and women-owned small business owners* Since the advent of The most important function of the board of directors is to hire the president or stakeholders that their concern was taken into consideration and will continue to be valued. They have clearly defined symbolic speech but have ruled that it is never protected. (Starbucks does not follow the traditional franchising terms.) 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. ventana canyon golf membership fees; what ships are in port at norfolk naval base? 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 . \text { Cost } & \$ 930 & \text { Years to maturity } 10 & AACSB: Application, Ethics, Difficulty: Moderate STARBUCKS CASE PART 3 - GROUP 1. D. It is effective because it expects NGOs, state governments, and political action committees to AACSB: Application, Difficulty: Easy Freeman, R. E. & Moutchnik, A. 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 ), milk producers Identify and describe two challenges an employer may face in providing reasonable accommodations under the ADA for employees. Blooms: Analyze, Evaluate Lorem ipsum dolo, ac, dictum vitae odio. Starbucks that would result in change to the issue of racism in America. 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? (Select all that apply.) 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). The following is a guide to engaging successfully with stakeholder groups. Nam risus ante, dapibus a molestie consequat, ultrices ac magna. b. the doctrine that a corporation has some of the same legal rights and responsibilities enjoyed by natural persons STEP 1: DEFINE STAKEHOLDER ENGAGEMENT Discuss the meaning of stakeholder engagement. They have clearly defined symbolic speech and what type of symbolic speech is protected. Starbucks Coffee Company supports its competitive advantages through the characteristics of its corporate structure. Competitors are one of the most significant external stakeholders of Starbucks. . Supply Chains Act also implicates the welfare of stakeholders. f(x)=x48x2+16, (A)[1,3](B)[0,2](C)[3,4](A)\ [-1,3]\qquad (B)\ [0,2]\qquad (C)\ [-3,4] In several sentences, describe one ethical issue related to the "access economy". AACSB: Application, Difficulty: Easy Starbucks Stakeholder Analysis. Donec aliquet. The Sample Answer: Customers are articulate about their views of a company. 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. entities and people invested and influential in the success of an organization* such as Yelp where customers share their good and bad experiences. Explain an employee's common law duty of loyalty to their employer. c. business should behave ethically, being responsible to all stakeholders 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 . Today, with over 32,000 stores around the globe, the company is the premier roaster and retailer of specialty coffee in the world. In the United States, Ikea displays 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. 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. 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. Blooms: Remember Difficulty: Difficult The duty to obey a categorical imperative is irrespective of consequences. Course Hero is not sponsored or endorsed by any college or university. consumed by 20% of the worlds population. Financial Analysis of PUMA and Nike, Inc. Starbucks Stakeholders: Employees and Customers. a. U.S. jurisprudence (2013). AACSB: Application, Difficulty: Moderate Donec aliquet. Draw a T-account for the bank after this first round of loans has been made. Explain how the "triple bottom line" goes beyond the traditional goal of shareholder profit. 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. results to decision makers in management. In the case of Coca-Cola, its website discusses stakeholder engagement in a The shippers have also announced the suspension of both . Stakeholder management and CSR: Questions and answers. stakeholders. There are dedicated sites It is important for executives to interact with outside-environment stakeholders such as media and government. social media, they are apt to speak up about their customer experience. 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. Yet there A diverse workforce yields many positive outcomes for a company. 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. virtue ethics (the third normative approach)- focuses on the character of the decision-maker. (Select all that apply. The coffee farmers supply coffee to Starbucks. physical abilities. Explain how owners benefit from doing business as a corporate entity. It is important to focus on employees and customers when considering the ways in which Starbucks is impacted by the principles of stakeholder ethics. 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. essence of Stouts view is concern that shareholders may want to maximize their investment at a. high-level manners b. code of ethics Take airbnb for example, accommodations are not inspected while in a hotel, they are. * One big issue access economy has is lack of regulations, especially when it comes to overseeing the products and services exchanged during the transaction. The entitlement of the environment to legal status is a long-argued Which of the following are steps in the MITRE stakeholder process? An analysis of perceived priority of shareholder impact should include which of the following? 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. Your description is too short, please give your document a clear desc Comp exam 2 - Study guide for exam 2 for MGMT 333, Exam One Written Notes - Outline of Chapter 22 (Electric Charges and Forces), Chapter 23 (The Electric, A10 Communication- Persuasive Speech. b. business should have ethically, focusing exclusively on shareholders/investors. a. Samsung's washers had a spin-cycle problem in 2017 Sample Answer: A company needs to be aware of its stakeholders. Select the best answer. In several sentences, describe one ethical draw-back of job-sharing. For the long term, business operations need to inculcate stakeholder Q: Corporate-level strategy is best described as: a. strategies firms implement to gain a competitive advantage by selectin. Starbucks prioritizes employees in its corporate social responsibility efforts. 100 %. It also changed its policy of allowing noncustomers to visit its stores and use restrooms. 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. AACSB: Ethics, Application, Difficulty: Moderate 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? generations, such as the case with pollution. Blooms: Understand a hypothetical situation in which rational people can arrive at a contract. c. marketing There is a common agreement among the public that corporate directors have a duty to maximize corporate profits and shareholder value, even if this means skirting ethical rules. 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). Protected classes are created by both federal and state law. AACSB: Real-world, Difficulty: Moderate In a short paragraph, explain how entrepreneurs can still remain ethical while focusing on profit. (1997). the cost of stakeholders. 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. These are standard stakeholders of almost every business that operates in the United States or overseas. The concept of corporate social responsibility (CSR) involves the idea that corporations are not merely enterprises whose sole purpose is to generate revenue but organizations that are members of the communities and societies of which they are a part. b. globalization B. urban and suburban communities* Laws dictate all ethical responsibilities that a company may owe key All stakeholders must be treated the same. 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? (Select all that apply.) Thus, Ikea changed in response to consumer a. business should behave ethically, focusing only on environmentalism AACSB: Ethics, Difficulty: Easy How has Starbucks used technology to improve its products? Having theoretical approaches to stakeholders highlights C. Defining a companys ongoing mission* OpenStax Business Ethics Test Bank Chapter 3: Defining and Prioritizing Stakeholders Chapter 3: Defining and Prioritizing Stakeholders * = Correct answer Multiple Choice/Fill in the Blank 1. Home4Dance Huddersfield, England, United Kingdom3 weeks agoBe among the first 25 applicantsSee who Home4Dance has hired for this roleNo longer accepting applications. Which are some types of stakeholder relationships that a local chamber of commerce would have? If corporations use social responsibilities, it is more likely they will be successful. Felix Madison has $10,000 worth of property damage insurance and a$1,000 deductible collision insurance policy. Starbucks steps evinced a social consciousness and focus on stakeholders. a. customers are not considered high-priority stakeholder Shareholders are certainly an important component of the stakeholders of a corporation (Freeman & Moutchnik, 2013). AACSB: Ethics, Application. The following are the main stakeholders in Starbucks Coffee's business: Employees (baristas, partners) Customers Suppliers (supply firms, coffee farmers) Environment Investors Governments Employees. 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 Which of the following is not an example of a diffused shareholder? Which of the following is not a belief that businesses hold? D. pet owners, Which of the following are the duties of the board of directors? I say this because with many different opinions being thrown in the air, being on the same boat is not the easiest thing. A company must identify and 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. Difficulty: Difficult A. milk producers* 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 . Ethical standards do not remain the same; they convert in response to evolving situations. focused on stakeholders, and perhaps instead concentrated on consumers or shareholders, could External stakeholders have a direct impact if they purchase a product and the relationship they have with a company. Find the absolute maximum and minimum, if either exists, for each function on the indicated intervals. Which of the following entrepreneurs is known for having an easygoing personality? It is important for executives to interact with outside-environment stakeholders How is Starbucks diversifying in India to fit into the local culture? You will work with relevant stakeholders and the Head of Asset & Configuration Management to implement and support processes that ensure the effective governance, controls and integrity . Laplume, A., Karan, S. & Litz, R. (2008). Rachel Carsons 1962 book, True or false? Aristotle believes that prudence plays the major role because it helps individuals avoid excess and deficiency. C. coffee and tea growers* Nam lacinia pulvinar tortor nec facilisis. Another concern that has been raised by Starbucks employees involves the issue of job security and insecurity of hours. Partners with stakeholders and business hiring managers to ensure that the project has the skillsets and resources required for delivery. AACSB: Ethics, Difficulty: Easy 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 he acknowledged that business was important in nurturing and preserving democracy in Athens. Misunderstanding and lack of communication tend to happen even more. b. Samsung's warned customers that the machines could tip over It is also competing with companies like Peet's Coffee & Tea Company, which have more exclusive products. C. Stakeholder perceptions have a large impact on success. A. milk producers* B. urban and suburban communities* C. coffee and tea growers* D. plastic-cover manufacturers; Difficulty: Easy Blooms: Understand AACSB: Ethics. 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. Draw a T-account for the bank. 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. 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. Those men later settled A stakeholder is any party, individual, or group interested in an organization's actions and outcomes. than as a means to achieve better financial results. (Select all that apply.) For the purpose of this assignment, you will follow the steps in creating the initial portion of a stakeholder engagement strategy. the theory that prosperity depends on extracting wealth or accumulating it from others. c. her portrayal of the character offended shareholders Pellentesque dapibus efficitur laoreet. Stakeholder Relationships: It appears there are growing disconnects among at least some of their stakeholders. No.The responsibility a producer has is always being honest, even with their marketing campaigns. ), positive customer experiences Which. B. her portrayal of the character was not approved governance views, shareholders and boards of directors are given priority. What has unfolded at Starbucks is anything but. Which of the following does Starbucks consider to be a strong asset that helps it build its revenue gains? From the beginning, Starbucks set out to be a different kind of company. Consult with business partners, managers or other key stakeholders. Which commercial transaction in the New World exemplifies the complexity that results when different cultures, experiences, and ethical codes come into contact? Ben & Jerrys, an ice cream company known for its founders social How can entrepreneurs best ensure their customer-service vision is passed on to employees? They 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. Which of the following is NOT a characteristic of a strategic leader and stakeholder such as Howard Schultz? The crash caused$1,600 in damages to his car. Often there is a hierarchy that places consumers or customers first. Also, a bribery is very unethical and can look bad for the business. If Starbucks follows a strategy of competing in more than one business product, which of the following goals could it accomplish? AACSB: Application, Real-world, Difficulty: Moderate
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