Answer: False, True or false? Solved Thirty years ago, Starbucks was a single store in - Chegg There are also organizations. A firm's vision is the foundation for its mission. Starbucks baristas are paid above the minimum wage, even at the entry-level position. Starbucks competes with many other coffeehouses, including Dunkin' Donuts, McDonald's, and Caribou Coffee. What research did the BBC Earth Lab cite to prove or disprove that subliminal advertising is real? Nam risus ante, dapibus a molestie consequat, ultrices ac magna. Consider Fisher's remarks in the last two paragraphs. A bribe is given with either an explicit or implied expectation of return that will benefit your business while a gift is given without any expectation of return and does not benefit your business. b. ethical principles that apply everywhere despite differences in time, geography and culture essence of Stouts view is concern that shareholders may want to maximize their investment at Which of the following are considered intellectual virtues? Also, Starbucks faced the challenge of technology. This file is copyright 2019, Rice University. such as media and government. Laws dictate all ethical responsibilities that a company may owe key Which is the primary law prohibiting religious discrimination in the private sector workplace? c. media Over time, people change, technology advances just like it has in the past couple of years, and cultural mores shift. Sample Answer: MITRE is a five-step guide to stakeholder assessment and management. Observing the company's liquidity, Starbucks has around $2.6 billion in cash and short-term borrowing facilities of $3.5 billion. d. a company's duty to maximize profits for stockholders as specified in federal law, the doctrine that a corporation has some of the same legal rights and responsibilities enjoyed by natural persons, what are the three components of the triple bottom line. Employees are dissatisfied with the trust they receive from management and are seeking "representation" through unions. What constitutes a reasonable profit may be unfair. Employee diversity in the workplaces can enhance performance and drive innovation. (1997). This is viewed c. Assume that Humongous bank is part of a multibank system. A company must identify and It is insufficient to have a mission statement, language on a website, or Answered over 90d ago. 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. 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 . The crash caused$1,600 in damages to his car. companies that intentionally keep hours at less than 29 to avoid more costly regulations like the ACA a. humanity in ethics d. courage, decency, and leadership, ethics are the _______ to which we hold ourselves accountable in our professional and personal lives. Starbucks Competitors: Top 3 Starbucks Rivals - Investopedia Which of the following is a resource made available to employees, in addition to salary? AACSB: Ethics, Difficulty: Easy In a perpetual existence, when a sole proprietor or partner dies, the assets may go to the heirs, but the business no longer exists. Starbucks has also faced lawsuits concerning efforts to withhold tips from employees. What is a "pay-to-pollute" system that charges a fee or tax to those who discharge carbon into the air? Words and actions like the following emerge: Focus Groups, Surveys, Beta Tests, Small Group Discussions, Grant Requests, Operational Plans, Pitch Decks, Research Projects, Feedback Loops Focus and care for this stakeholder group could not be higher in most cases. 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 Participate in and support community . It also changed its policy of allowing noncustomers to visit its stores and use restrooms. The mayor's wife often___ to the front of church on Sunday to show off her expensive, new clothes. 16 & 14 & 9 & 11 & 15 & 8 & 12 & 16 & 17 & 13 & 15 & 10 & 9 \\ safeguard properties lawsuit 2017; syl johnson chad ochocinco father For that law, companies are. Community members may view big box stores as a threat to small businesses' livelihood. AACSB: Reflection, Difficulty: Difficult It is best for companies to avoid involvement in such controversies because of the polarizing effect they have on the general public and consequently on Starbucks customers and potential customers. Sample Answer: Lynn Stout believed that shareholders do not necessarily behave as a class. What is the responsibility of the producer and the consumer? Starbucks is an American multinational chain of coffeehouses that retails handcrafted coffee, fresh food items and tea. Stakeholders of Starbucks (Starbucks stakeholder analysis) Blooms: Remember represents ethical stakeholder theory. They need to develop sustainable sources of quality beans. b. code of ethics CSR and greenwashing are the same concepts. STARBUCKS - Essay - 1416 words - Paperdue In some cases, as soon as entrepreneurs see that they are making profit, everything else suddenly disappears. a. the lifestyle characterized by the acquisition of goods and services 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. 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. Download Assets. 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. In the United States, Ikea displays b. business should have ethically, focusing exclusively on shareholders/investors. mysterious plane crashes, the Malaysian government (a stakeholder) and private investors hired a Answer: True, True or false? 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 AACSB: Real-world, Difficulty: Moderate What are some examples of how companies take into account the welfare of stakeholders? c. utmost conduct It is important to focus on employees and customers when considering the ways in which Starbucks is impacted by the principles of stakeholder ethics. Supply Chains Act also implicates the welfare of stakeholders. How has Starbucks used technology to improve its products? systemic ethics problems. A diverse workforce yields many positive outcomes for a company. 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. OSX_EthicsTB_Ch03_DefiningAndPrioritizingStakeholders.docx The main difference between a bribe and a gift is intent. Blooms: Remember virtue ethics (the third normative approach)- focuses on the character of the decision-maker. 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? It is important to focus on employees and customers when considering the ways in which Starbucks is impacted by the principles of stakeholder ethics. Which of the following are Starbucks' stakeholders? Which of the following are steps in the MITRE stakeholder process? Starbucks operates in more than 80 markets, either in the form of direct company-owned stores or licensed stores. \text { Cost } & \$ 930 & \text { Years to maturity } 10 & AACSB: Application, Difficulty: Easy a. pollution tax c. business should behave ethically, being responsible to all stakeholders Aristotle believes that prudence plays the major role because it helps individuals avoid excess and deficiency. 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. Stakeholders: Essentially contested or just confused? C. coffee and tea growers* In several sentences, describe how ethical standards can shift with geography and time. Starbucks prioritizes employees in its corporate social responsibility efforts. Explain an employee's common law duty of loyalty to their employer. 100 %. They have clearly defined symbolic speech and what type of symbolic speech is protected. 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. Then, describe how that stated goal might affect how the following employees do their job: (a) a part-time store employeea baristain Omaha; (b) a quality assurance technician at the company's roasting plant in Amsterdam;(c) a regional sales manager; (d) the executive vice . 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. PR Related Events and Strategies & Tactics Used Timeline of Key PR Related Events 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 . Deontology is often regarded as a "here and now" philosophy. 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No.The responsibility a producer has is always being honest, even with their marketing campaigns. There are dedicated sites which are the universal principles of behavior? 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. AACSB: Reflection, Application, Difficulty: Difficult c. They have extended protections to only some forms of symbolic speech. (Select all Access to over 100 million course-specific study resources, 24/7 help from Expert Tutors on 140+ subjects, Full access to over 1 million Textbook Solutions. Develop or acquire assets and skills needed to implement the strategy. 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. Answer: False. They can affect how successful Starbucks is by doing their job and providing inputs into decisions that go into creating products and services that customers want. On the other hand, Starbucks has often been criticized as a firm that is hypocritical in his approach to such matters by claiming to be a company that abides by the principles of stakeholder ethics while treating its employees poorly. Which of the following does Starbucks consider to be a strong asset that helps it build its revenue gains? Customers still enjoy the product and yet competition is growing. c. humanistic business model 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 . Sample Answer: A company needs to be aware of its stakeholders. Solved Company: Starbucks Stakeholder map and | Chegg.com social media, they are apt to speak up about their customer experience. Academy of Management Review, 22(4), 853886. 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. Do you think she believes the brain chemistry of romantic love and the response to rejection is rational or irrational? stresses that a company must sustain trust with stakeholders. A. industry norms* Corporations, directors and managers are all protected by laws saying that in most circumstances, their losses in case of business failure cannot exceed the amount they paid for their shares of ownership. and China, for example, by adapting to local cultural norms. Select the best answer. The California Transparency in Many people in the UK will have a product from Thornton & Ross somewhere at home. D. dining/food service, Which of the following are stakeholders? 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 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. The name, inspired by Moby Dick, evoked the romance of the high seas and the seafaring tradition of the early coffee traders. Solved Which of the following best explains why Starbucks | Chegg.com Nam risus ante, dapibus a molestie consequat, ultrices ac magna. insufficient. Starbucks Challenges: Current Issues Faced by Starbucks | Business Rawls's theory of justice views individuals as human resources, with their natural state as needing governance, and subjects them to a social contract of subjugation. a. consumerism D. stakeholder prioritization, Difficulty: Easy Often there is a hierarchy that places consumers or customers first. Milk, which is a main ingredient of the ice cream, is often sourced from confined-animal feeding Donec aliquet. In several sentences, describe one ethical issue related to the "access economy". Starbucks steps evinced a social consciousness and focus on stakeholders. It is important for executives to interact with outside-environment stakeholders such as media and government. Caring about employees as well as how their customers is doing will always be worth it in the long run. The following points outline skills and experiences that are considered assets: First Aid and CPR certification. What are Stakeholders? Stakeholder Definition | ASQ The number of defectives in each sample is listed in time order in the table that follows. B. marketing* consciousness and product mission, is now owned by an international conglomerate, Unilever. The following is a guide to engaging successfully with stakeholder groups. the cost of stakeholders. Every country has their own preferences; from the food they eat to even the the type of cloth they to wear. C. It is ineffective because it uses consumer stakeholders to pressure suppliers and make Explain how the "triple bottom line" goes beyond the traditional goal of shareholder profit. Which of the following is not an example of a diffused shareholder? A) Employees B) Customers C) Shareholders D) Economy List and briefly describe the two types of virtues identified by Aristotle. They Employees Which of the following describes the relationship, if any, between the vision and the mission for a company such as Starbucks? b. Samsung's warned customers that the machines could tip over 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. From just a narrow storefront, Starbucks offered some of the world's finest fresh-roasted whole bean coffees. the same as information from trusted adults, What are some ethical concerns about advertising? Which of the following are Starbucks' stakeholders? Freeman, R. E. & Moutchnik, A. Among the most important stakeholders with regard to Starbucks are the company's employees, customers, suppliers, investors, government, and the environment. Defence Equipment & Support (DE&S) hiring Senior Cost Estimator in The Occupational Safety and Health Administration (OSHA)a business' mission to prevent work-related injuries, illnesses and deaths under the Department of Labor. Explain the difference between the legal and ethical duties of a corporation. Mental Health Specialist, Starbucks Outreach (JR 2860) a. he viewed those outside economic and political circles as virtuous Nam lacinia pulvinar tortor nec facilisis. 12 & 14 & 11 & 8 & 7 & 12 & 15 & 9 & 16 & 13 & 11 & 10 & The shippers have also announced the suspension of both . (Select all that apply.) So many customers now . The firm issued $3 billion in bonds, taking advantage of the. What is the ethical issue behind issuing disaster insurance? Which insurance covers the damage to the fire hydrant? c. Compute and plot the A, B, and C zone boundaries on the p-chart. Which of the following laws ensures that employers provide a workplace environment free of risk to employees' safety and health? 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? local, state, national, and international laws and regulations. Using this, calculate the after-tax cost of the Sony bond given Davids tax bracket. 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. 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. Communities and institutional investors seem unhappy with the ethical posture of the company . B. her portrayal of the character was not approved CAFOs are condemned by animal rights activists as being harmful to the According to the I/O Model of Above-Average Returns, which of the following steps should Starbucks complete immediately before implementing a strategy? \end{array} Why does a Kantian view typically not govern most management decisions? e. They have not directly addressed the matter of symbolic speech. D. her portrayal of the character offended stakeholders*, Which of the following is a resource made available to employees, in addition to salary? Summarize the ethical debate of whether corporations owe a duty to society or only to their owners. OSX Ethics TB Ch03 Defining And Prioritizing Stakeholders However, Starbucks has also been criticized for its labor relations as well. Sample Answer: Customers are articulate about their views of a company. Accordin to Freeman (1984), stakeholders are anyone that can influence or be influenced by the company's actions. (Select all that apply. a. milk producers AACSB: Application, Difficulty: Moderate Which of the following are well-documented outcomes? It is in a business's best interest to promote human flourishing within the organization by providing ________. 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. For ex. In the most generic form of stakeholder groups, Starbucks has an effect on its Employees, Customers, Community, Suppliers, Shareholders, Government, and Competitors. Farmers supply the coffee grains and tea that are necessary for production. Katherine Martinez (She/Her/Hers) - LinkedIn Blooms: Apply inauthentic in carrying out corporate social responsibility when the company already has the theory that prosperity depends on extracting wealth or accumulating it from others. 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. Which corporations have pulled out of Russia since its invasion of Which of the following sources of ethical guidance for businesses includes criminal penalties? Lorem ipsum dolo, ac, dictum vitae odio. Cell differentiation and specialisation - GCSE, Fundamentals of Financial Management, Concise Edition, Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield, Marketing Essentials: The Deca Connection, Carl A. Woloszyk, Grady Kimbrell, Lois Schneider Farese. with Starbucks in lieu of a civil action against the corporation. Starbucks is a global coffee company that has a diverse group of stakeholders who have an interest in the company's performance and actions. 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.). C. chief executive officer* b. Phillips, R. (2003). 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? Enacted in 1966, which of the following laws is the most important U.S. law forbidding cruelty to animals in laboratory settings? Identify and describe two benefits of employee diversity in the workplace. d. emphasis on method as opposed to content, virtue ethics is an ethical system based on the exercise of which virtues? __ A program where students work on campus to earn money. AACSB: Application, Ethics, Difficulty: Moderate People have argued that CSR initiatives based on environmental or social justice instead limit shareholder wealth and that the world's largest corporations executives consider the interests of a broader set of stakeholders, rather than only stockholders. d. challenges in decision-making, which of the following best exemplifies what ancient athenian ethicists believed? Describe Kant's "Deontology" view of ethics. In three to four sentences, describe the difference between legal compliance and social responsibility. 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 . (a) What is Friar Lawrence's plan for Juliet? Top things to know about Starbucks 2022 shareholders meeting b. carbon tax (Select all that apply. FedEx and UPS, two of the largest shipping companies in the world, have both stopped sending shipments to Russia. Starbucks Stakeholder Analysis - 1096 Words | Cram . Do companies have the responsibility to market their products with integrity? b. set of cultural norms Which of the following is considered the most important internal stakeholder of a corporation? Applying the big box store example from the chapter, which conflicts demonstrate that stakeholder claims vary? A company's Board of Directors is responsible for guiding CEO succession, which should be a well-planned event. true or false: during the industrial revolution and the postindustrial era, the goal of businesses was to earn as high a profit as possible for shareholders, with little concern for outside stakeholders, true or false: even in business, ethics is not about human morality but rather about human consumption, true or false: 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, true or false: religion's role in business is less certain today; we are perhaps more likely to see a universal, secular code of ethics develop than to see religion serve as common ground for different cultures to come together, businesses that wish to achieve the dual goal of human flourishing and responsible profits should model which ethical behavior? In 1968, Securities and Exchange Commission v. Texas Gulf Sulphur Co. implicated the employees of a Texas mining company and was the first famous case example of ________. Today, Starbucks hosted its 30 th annual meeting of shareholders virtually.

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